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Redeemable Noncontrolling Interests in Operating Partnership (Tables) | 12 Months Ended
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Dec. 31, 2022
Noncontrolling Interest [Abstract] |
Schedule of Compensation Expense | We recorded compensation expense for Performance LTIP units and LTIP units as presented in the table below (in thousands):
|  |  |  | Year Ended December 31,
Type |  | Line Item |  | 2022 |  | 2021 |  | 2020
Performance LTIP units |  | Advisory services fee |  | $ | 1,158 |  |  | $ | 1,128 |  |  | $ | 1,972 |
LTIP units |  | Advisory services fee |  | 569 |  |  | 1,119 |  |  | 2,042 |
LTIP units |  | Corporate, general and administrative |  | 32 |  |  | 22 |  |  | — |
LTIP units - independent directors |  | Corporate, general and administrative |  | 413 |  |  | 397 |  |  | 816 |
|  |  |  | $ | 2,172 |  |  | $ | 2,666 |  |  | $ | 4,830 |
The following table summarizes the stock-based compensation expense (in thousands):
|  | Year Ended December 31,
Line Item |  | 2022 |  | 2021 |  | 2020
Advisory services fee |  | $ | 2,509 |  |  | $ | 3,716 |  |  | $ | 3,897 |
Management fees |  | 56 |  |  | 199 |  |  | 594 |
Corporate, general and administrative |  | 163 |  |  | 151 |  |  | 298 |
Corporate, general and administrative - independent directors |  | 90 |  |  | 186 |  |  | 147 |
|  | $ | 2,818 |  |  | $ | 4,252 |  |  | $ | 4,936 |
The following table summarizes the compensation expense (in thousands):
|  | Year Ended December 31,
Line Item |  | 2022 |  | 2021 |  | 2020
Advisory services fee |  | $ | 1,008 |  |  | $ | 3,177 |  |  | $ | 958 |
Schedules of Redeemable Noncontrolling Interest | The following table presents the common units redeemed and the fair value upon redemption (in thousands):
|  |  |  | Year Ended December 31,
|  |  |  |  |  | 2022 |  | 2021 |  | 2020
Common units converted to stock |  |  |  |  |  | — |  |  | 1 |  |  | 20 |
Fair value of common units converted |  |  |  |  |  | $ | — |  |  | $ | 43 |  |  | $ | 959 |
The following table presents the redeemable noncontrolling interest in Ashford Trust and the corresponding approximate ownership percentage:
| December 31, 2022 |  | December 31, 2021
Redeemable noncontrolling interests (in thousands) | $ | 21,550 |  |  | $ | 22,742 |
Cumulative adjustments to redeemable noncontrolling interests (1) (in thousands) | 184,625 |  |  | 186,756 |
Ownership percentage of operating partnership | 0.91 | % |  | 0.63 | %
____________________________________ (1) Reflects the excess of the redemption value over the accumulated historical costs. We allocated net (income) loss to the redeemable noncontrolling interests and declared aggregate cash distributions to holders of common units and holders of LTIP units, as presented in the table below (in thousands):
|  |  | Year Ended December 31,
|  |  |  |  | 2022 |  | 2021 |  | 2020
Allocated net (income) loss to the redeemable noncontrolling interests |  |  |  |  | $ | 1,233 |  |  | $ | 3,970 |  |  | $ | 89,008 |
Performance LTIP dividend claw back upon cancellation |  |  |  |  | — |  |  | (518) |  |  | (1,401) |
A summary of the activity of the units in our operating partnership is as follow (in thousands):
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Outstanding at beginning of year | 400 |  |  | 217 |  |  | 219 |
LTIP units issued | 79 |  |  | 70 |  |  | 23 |
Performance LTIP units issued | 1,194 |  |  | 122 |  |  | 5 |
Performance LTIP units canceled | (4) |  |  | (8) |  |  | (11) |
Common units converted to common stock | — |  |  | (1) |  |  | (19) |
Outstanding at end of year | 1,669 |  |  | 400 |  |  | 217 |
Common units convertible/redeemable at end of year | 309 |  |  | 207 |  |  | 178 |

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- Definition Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity. + References No definition available. + Details
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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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