Redeemable Noncontrolling Interests (Tables)

3 Months Ended

Mar. 31, 2024

Redeemable Noncontrolling Interests

Summary of redeemable noncontrolling interests

	Three Months Ended March 31,
	2024		2023
					Consolidated
	JBG		JBG		Real Estate
	SMITH LP		SMITH LP		Venture (1)		Total
	(In thousands)
Balance, beginning of period	$	440,737	$	480,663	$	647	$	481,310
Redemptions		(7,875)		(13,782)		(647)		(14,429)
LTIP Units issued in lieu of cash compensation (2)		2,983		4,456		—		4,456
Net income (loss)		(4,534)		3,363		—		3,363
Other comprehensive income (loss)		2,026		(2,225)		—		(2,225)
Distributions		(2,931)		—		—		—
Share-based compensation expense		8,950		9,543		—		9,543
Adjustment to redemption value		(3,827)		(24,240)		—		(24,240)
Balance, end of period	$	435,529	$	457,778	$	—	$	457,778

(1) As of December 31, 2022, we held a 99.7% ownership interest in a real estate venture that owned The Wren, a multifamily asset. In February 2023, the partner redeemed its 0.3% interest, increasing our ownership interest to 100.0%.

(2) See Note 11 for additional information.