v3.22.4
Redeemable Noncontrolling Interests in Operating Partnership (Tables)
 9 Months Ended
Sep. 30, 2022
Noncontrolling Interest [Abstract]  
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:
September 30, 2022December 31, 2021
Redeemable noncontrolling interests in Braemar OP$40,635 $36,087 
Adjustments to redeemable noncontrolling interests (1)
$69 $275 
Ownership percentage of operating partnership7.66 %8.83 %
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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,
2022202120222021
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership$1,166 $823 $(647)$3,184 
Distributions declared to holders of common units, LTIP units and Performance LTIP units84 — 251 — 
The following table presents the common units redeemed and the fair value at redemption (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Common units converted to common stock— — — 2 
Fair value of common units converted$— $— $— $15