Loss Per Share and Equity

Loss Per Share

The following table presents loss per share (in thousands, except share and per share amounts):



	Year Ended December 31, 2019
	Basic and Diluted Weighted-Average Shares Outstanding	Allocation of Loss			Basic and Diluted Loss Per Share
Class A common stock	32,260,398	$	(2,509	)	$	(0.08	)
Class T common stock	60,499,745	(5,109		)	(0.08		)
Net loss attributable to CWI 2 stockholders		$	(7,618	)



	Year Ended December 31, 2018
	Basic and Diluted Weighted-Average Shares Outstanding	Allocation of Loss			Basic and Diluted Loss Per Share
Class A common stock	30,390,179	$	(2,443	)	$	(0.08	)
Class T common stock	58,842,820	(5,344		)	(0.09		)
Net loss attributable to CWI 2 stockholders		$	(7,787	)



	Year Ended December 31, 2017
	Basic and Diluted Weighted-Average Shares Outstanding	Allocation of Loss			Basic and Diluted Loss Per Share
Class A common stock	27,825,037	$	(1,740	)	$	(0.06	)
Class T common stock	54,686,084	(3,745		)	(0.07		)
Net loss attributable to CWI 2 stockholders		$	(5,485	)

The allocation of Net loss attributable to CWI 2 stockholders is calculated based on the weighted-average shares outstanding for Class A common stock and Class T common stock for the period. The allocation for the Class A common stock excludes the accretion of interest on the annual distribution and shareholder servicing fee of $0.4 million, $0.6 million and $0.3 million for the years ended December 31, 2019, 2018 and 2017, respectively, since this fee is only applicable to holders of Class T common stock (Note 3).

Reclassifications Out of Accumulated Other Comprehensive (Loss) Income

The following tables present a reconciliation of changes in Accumulated other comprehensive (loss) income by component for the periods presented (in thousands):



	Years Ended December 31,
Gains and Losses on Derivative Instruments	2019			2018			2017
Beginning balance	$	1,205		$	1,373		$	896
Other comprehensive (loss) income before reclassifications	(335		)	544			265
Amounts reclassified from accumulated other comprehensive income to:
Interest expense	(1,004		)	(715		)	219
Equity in losses of equity method investments in real estate, net	30			—			—
Total	(974		)	(715		)	219
Net current period other comprehensive (loss) income	(1,309		)	(171		)	484
Net current period other comprehensive (income) loss attributable to noncontrolling interests	(53		)	3			(7		)
Ending balance	$	(157	)	$	1,205		$	1,373

Distributions

Distributions paid to stockholders consist of ordinary income, capital gains, return of capital or a combination thereof for income tax purposes. Our distributions per share are summarized as follows:



	Years Ended December 31,
	2019				2018				2017
	Class A		Class T		Class A		Class T		Class A		Class T
Return of capital	$	0.4679	$	0.3826	$	0.4656	$	0.3817	$	0.3541	$	0.2866
Ordinary income	0.0961		0.0785		0.0984		0.0807		0.2037		0.1649
Total distributions paid	$	0.5640	$	0.4611	$	0.5640	$	0.4624	$	0.5578	$	0.4515

The following table presents the quarterly per share distributions declared by our board of directors for the fourth quarter of 2019, payable in cash and in shares of our Class A and Class T common stock to stockholders of record on December 31, 2019:



Class A Common Stock						Class T Common Stock
Cash		Shares		Total		Cash		Shares		Total
$	0.1410	$	0.0339	$	0.1749	$	0.1154	$	0.0339	$	0.1493

These distributions were paid on January 15, 2020 in the aggregate amount of $11.6 million. Distributions that are payable in shares of our Class A and Class T common stock are recorded at par value in our consolidated financial statements.

During the year ended December 31, 2019, our board of directors declared distributions in the aggregate amount of $18.1 million for our Class A common stock and $27.7 million for our Class T common stock, which equates to $0.6996 per share and $0.5968 per share, respectively.

Purchases of Membership Interests

On October 16, 2019, we purchased the membership interest in the Seattle Marriott Bellevue venture that we did not already own from an unaffiliated third party for $0.3 million, which equaled the carrying value of the noncontrolling interest, and increased our ownership interest in the hotel from 95.4% to 100.0%.

On March 30, 2017, we purchased the membership interest in the Courtyard Nashville Downtown venture from an unaffiliated third party for $3.5 million. Our acquisition of the membership interest is accounted for as an equity transaction, and we recorded an adjustment of approximately $3.5 million to Additional paid-in capital in our consolidated statement of equity for the year ended December 31, 2017 related to the difference between the carrying value and the purchase price. No gain or loss was recognized in the consolidated statement of operations.