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Redeemable Noncontrolling Interests in Operating Partnership (Tables)

9 Months Ended

Sep. 30, 2023

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interest

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

			September 30, 2023						December 31, 2022
Redeemable noncontrolling interests in Braemar OP (in thousands)			$	33,494					$	40,555
Adjustments to redeemable noncontrolling interests (1) (in thousands)			$	62					$	70
Ownership percentage of operating partnership			6.63		%				7.69		%

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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 as illustrated in the table below (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership			$	2,354					$	1,166					$	3,018					$	(647)
Distributions declared to holders of common units, LTIP units and Performance LTIP units			$	361					$	84					$	1,083					$	251

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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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