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Redeemable Noncontrolling Interests in Operating Partnership (Tables)

12 Months Ended

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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- References

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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.

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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

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