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Redeemable Noncontrolling Interests in Operating Partnership (Tables)

3 Months Ended

Mar. 31, 2019

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 March 31,
Type		Line Item		2019				2018
Performance LTIP units		Advisory services fee		$	257			$	8
LTIP units		Advisory services fee		293				136
				$	550			$	144

Redeemable Noncontrolling Interest

The following table presents the common units redeemed and the fair value upon redemption (in thousands):

		Three Months Ended March 31,
Line Item		2019				2018
Common units converted to stock		110				—
Fair value of common units converted		$	1,434			$	—

The following table presents the redeemable noncontrolling interests in Braemar OP (in thousands) and the corresponding approximate ownership percentage of our operating partnership:

	March 31, 2019				December 31, 2018
Redeemable noncontrolling interests in Braemar OP	$	51,010			$	44,885
Adjustments to redeemable noncontrolling interests (1)	$	7,958			$	23
Ownership percentage of operating partnership	11.12		%		11.22		%

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

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 March 31,
	2019				2018
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership	$	440			$	(292	)
Aggregate distributions to holders of common units, LTIP units and performance LTIP units	778				822

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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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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
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