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Redeemable Noncontrolling Interests in Operating Partnership (Tables)
 6 Months Ended
Jun. 30, 2018
Noncontrolling Interest [Abstract]  
Schedule of Share-based Compensation
The following table presents compensation expense for performance LTIP units and LTIP units (in thousands):
 
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
Type
 
Line Item
 
2018
 
2017
 
2018
 
2017
 
Performance LTIP units
 
Advisory services fee
 
$
286

 
$
(57
)
(1)
$
294

 
$
(1,104
)
(1)
LTIP units
 
Advisory services fee
 
$
302

 
$
130

 
$
438

 
$
173

 
LTIP units
 
Corporate, general and administrative
 
$
—

 
$
64

 
$
—

 
$
64

 
Redeemable Noncontrolling Interest
The following table presents the redeemable noncontrolling interests in Braemar OP (in thousands) and the corresponding approximate ownership percentage of our operating partnership:
 
June 30, 2018
 
December 31, 2017
Redeemable noncontrolling interests in Braemar OP
$
47,818

 
$
46,627

Adjustments to redeemable noncontrolling interests (1)
558

 
—

Ownership percentage of operating partnership
11.17
%
 
11.43
%
____________________________________
(1) 
to reflect 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 the holders of common units and holders of LTIP units, which are recorded as a reduction of redeemable noncontrolling interests in operating partnership, as illustrated in the table below (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Allocated net income (loss) to the redeemable noncontrolling interests
$
(1,235
)
 
$
343

 
$
(1,527
)
 
$
598

Aggregate distributions to holders of common units, LTIP units and performance LTIP units
$
822

 
$
859

 
$
1,644

 
$
1,649