v3.26.1
Capital structure and noncontrolling interests (Tables)
 6 Months Ended
Jun. 30, 2026
Noncontrolling Interest [Abstract]  
Schedule of Capital Units
The Operating Partnership’s capital structure as of June 30, 2026 and December 31, 2025 was as follows:
June 30, 2026December 31, 2025
Partnership common units owned by Lineage, Inc.227,700,211 226,967,652 
Partnership common units owned by Non-Company LPs577,745 698,915 
Legacy Class A OP Units and Legacy Class B OP Units owned by Non-Company LPs21,029,599 21,029,599 
LTIP Units held by Non-Company LPs (1)
4,820,620 3,667,999 
Total254,128,175 252,364,165 
(1) Includes 865,138 and 406,238 units, respectively, granted under the Amended and Restated Lineage 2024 Incentive Award Plan, which have vested but have not yet been converted into partnership common units.
Schedule of Redeemable Noncontrolling Interest
Below is a summary of all activity for the Company’s redeemable noncontrolling interests, which are discussed in further detail above.
(in millions)Redeemable Noncontrolling Interests - Operating Partnership UnitsRedeemable Noncontrolling Interest - Operating SubsidiariesTotal Redeemable Noncontrolling Interests
Balance as of December 31, 2024$32 $11 $43 
Redeemable noncontrolling interest redemption value adjustment2 (4)(2)
Balance as of March 31, 202534 7 41 
Redemption of redeemable noncontrolling interests(28)— (28)
Expiration of redemption option(6)— (6)
Balance as of June 30, 2025$— $7 $7 
(in millions)Redeemable Noncontrolling Interest - Operating SubsidiariesTotal Redeemable Noncontrolling Interests
Balance as of December 31, 2025$7 $7 
Redemption of redeemable noncontrolling interests(7)(7)
Balance as of March 31, 2026— — 
Balance as of June 30, 2026$— $— 
Below is a summary of all activity for the Company’s noncontrolling interests, which are discussed in further detail above.
(in millions)Operating Partnership UnitsNoncontrolling Interests in Other Consolidated SubsidiariesNoncontrolling Interest in Other Consolidated Subsidiaries - OPEUTotal Noncontrolling Interests
Balance as of December 31, 2024$944 $14 $55 $1,013 
Distributions ($0.53 per OP Unit and OPEU)
(13)— (1)(14)
Stock-based compensation21 — — 21 
Other comprehensive income (loss)5 — — 5 
Reallocation of noncontrolling interests(6)— — (6)
Balance as of March 31, 2025951 14 54 1,019 
Distributions ($0.53 per OP Unit and OPEU)
(12)— (1)(13)
Stock-based compensation7 — — 7 
Other comprehensive income (loss)17 — 1 18 
Expiration of redemption option6 — — 6 
Net income (loss)(1)— — (1)
Reallocation of noncontrolling interests(7)— — (7)
OP Units reclassification(7)— — (7)
Balance as of June 30, 2025$954 $14 $54 $1,022 
(in millions)Operating Partnership UnitsNoncontrolling Interests in Other Consolidated SubsidiariesNoncontrolling Interest in Other Consolidated Subsidiaries - OPEUTotal Noncontrolling Interests
Balance as of December 31, 2025$925 $12 $53 $990 
Distributions ($0.53 per OP Unit and OPEU)
(12)— (1)(13)
Stock-based compensation13 — — 13 
Other comprehensive income (loss)(3)— — (3)
Net income (loss)(5)— — (5)
Reallocation of noncontrolling interests(10)— — (10)
OP Units reclassification(5)— — (5)
Balance as of March 31, 2026903 12 52 967 
Distributions ($0.53 per OP Unit and OPEU)
(12)— (1)(13)
Stock-based compensation9 — — 9 
Other comprehensive income (loss)(3)— — (3)
Net income (loss)(3)— — (3)
Reallocation of noncontrolling interests24 — — 24 
Balance as of June 30, 2026$918 $12 $51 $981