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Redeemable Noncontrolling Interests in Operating Partnership (Tables)

9 Months Ended

Sep. 30, 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 September 30,								Nine Months Ended September 30,
Type		Line Item		2019				2018				2019				2018
Performance LTIP units		Advisory services fee		$	297			$	245			$	847			$	539
LTIP units		Advisory services fee		355				269				999				707
LTIP units - independent directors		Corporate, general and administrative		103				61				103				61
				$	755			$	575			$	1,949			$	1,307

Redeemable Noncontrolling Interest

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

		Three Months Ended September 30,								Nine Months Ended September 30,
		2019				2018				2019				2018
Common units converted to stock		—				—				165				—
Fair value of common units converted		$	—			$	—			$	2,201			$	—

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

	September 30, 2019				December 31, 2018
Redeemable noncontrolling interests in Braemar OP	$	40,584			$	44,885
Adjustments to redeemable noncontrolling interests (1)	$	562			$	23
Ownership percentage of operating partnership	10.95		%		11.22		%

____________________________________

⁽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 September 30,								Nine Months Ended September 30,
	2019				2018				2019				2018
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership	$	1,465			$	452			$	2,770			$	(1,075	)
Aggregate distributions to holders of common units, LTIP units and Performance LTIP units	771				824				2,318				2,468

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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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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 http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
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-Section S99
-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901

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