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Redeemable Noncontrolling Interests in Operating Partnership (Tables)

12 Months Ended

Dec. 31, 2023

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						2023						2022						2021
Performance LTIP units						Advisory services fee						$	783					$	1,158					$	1,128
LTIP units						Advisory services fee						435						569						1,119
LTIP units						Corporate, general and administrative						15						32						22
LTIP units - independent directors						Corporate, general and administrative						475						413						397
												$	1,708					$	2,172					$	2,666

The following table summarizes the stock-based compensation expense (in thousands):

						Year Ended December 31,
Line Item						2023						2022						2021
Advisory services fee						$	1,446					$	2,509					$	3,716
Management fees						10						56						199
Corporate, general and administrative						89						163						151
Corporate, general and administrative - independent directors						170						90						186
						$	1,715					$	2,818					$	4,252

The following table summarizes the compensation expense (in thousands):

						Year Ended December 31,
Line Item						2023						2022						2021
Advisory services fee						$	604					$	1,008					$	3,177

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,
																		2023						2022						2021
Common units converted to stock																		—						—						1
Fair value of common units converted																		$	—					$	—					$	43

The following table presents the redeemable noncontrolling interests in Ashford Trust OP and the corresponding approximate ownership percentage:

			December 31, 2023						December 31, 2022
Redeemable noncontrolling interests in Ashford Trust OP (in thousands)			$	22,007					$	21,550
Cumulative adjustments to redeemable noncontrolling interests (1) (in thousands)			$	186,201					$	184,625
Ownership percentage of operating partnership			1.27		%				0.91		%

____________________________________

(1)    Reflects the excess of the redemption value over the accumulated historical costs.

We allocated net (income) loss to the redeemable noncontrolling interests as presented in the table below (in thousands):

									Year Ended December 31,
															2023						2022						2021
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership															$	2,239					$	1,233					$	3,970
Performance LTIP dividend claw back upon cancellation															—						—						(518)

A summary of the activity of the units in our operating partnership is as follow (in thousands):

			Year Ended December 31,
			2023						2022						2021
Outstanding at beginning of year			1,669						400						217
LTIP units issued			112						79						70
Performance LTIP units issued			282						1,194						122
Performance LTIP units canceled			(86)						(4)						(8)
Common units converted to common stock			—						—						(1)
Outstanding at end of year			1,977						1,669						400
Common units convertible/redeemable at end of year			359						309						207

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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.

+ References

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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
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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