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Non-controlling Interest - Operating Partnership
 12 Months Ended
Dec. 31, 2019
Noncontrolling Interest [Abstract]  
Non-controlling Interest - Operating Partnership Non-controlling Interest – Operating Partnership
Through November 30, 2018, non-controlling interest represented the aggregate ownership interest of a wholly-owned Invesco subsidiary in our Operating Partnership. The ownership percentage was determined by dividing the number of OP Units held by the Unit Holders by the total number of dilutive shares of common stock. The issuance or repurchase of common stock (“Share” or “Shares”) or OP Units changed the percentage ownership of both the Unit Holders and the common stockholders. Since an OP unit was generally redeemable for cash or Shares at our option, it was deemed to be a Share equivalent. Therefore, such transactions were treated as capital transactions and resulted in a reallocation between stockholders’ equity and non-controlling interest in our consolidated balance sheets.
On November 30, 2018, we redeemed all of the OP Units held by the non-controlling interest holder for $21.8 million. The redemption price for the OP Units was equal to the market value of an equivalent number of shares of our registered common stock. The following table summarizes the effect of changes in our ownership interest in our Operating Partnership on our equity.
 
Years ended December 31,
$ in thousands
2018
 
2017
Net income (loss) attributable to Invesco Mortgage Capital Inc.
(70,790
)
 
348,607

Transfers from non-controlling interest:
 
 
 
Decrease in additional paid-in capital due to purchase of OP units
(798
)
 
—

Net transfers from non-controlling interest
(798
)
 
—

Change from net income (loss) attributable to Invesco Mortgage Capital Inc. common stockholders and transfers (to) from non-controlling interest
(71,588
)
 
348,607


Prior to redemption of the OP Units, income was allocated to the non-controlling interest based on the Unit Holders’ ownership percentage of the Operating Partnership. The following table presents the net income (loss) allocated and distributions paid to the Operating Partnership non-controlling interest for the years ended December 31, 2018 and 2017.
 
Years ended December 31,
$ in thousands
2018
 
2017
Net income (loss) allocated
254

 
4,450

Distributions paid
2,394

 
2,294