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Redeemable Noncontrolling Interests
 6 Months Ended
Jun. 30, 2018
Noncontrolling Interest [Abstract]  
Redeemable Noncontrolling Interests Redeemable Noncontrolling Interests
JBG SMITH LP
A portion of the OP Units held by persons other than JBG SMITH became redeemable for cash or, at our election, our common shares beginning on August 1, 2018, subject to certain limitations. During the six months ended June 30, 2019, unitholders redeemed 1.7 million OP Units, which we elected to redeem for an equivalent number of our common shares. As of June 30, 2019, outstanding OP Units totaled 15.2 million, representing a 10.2% ownership interest in JBG SMITH LP. On our balance sheets, our vested or outstanding redeemable noncontrolling interests are presented at the higher of their redemption value at the end of each reporting period or their carrying value, with such adjustments recognized in "Additional paid-in capital." Redemption value per OP Unit is equivalent to the market value of one of our common shares at the end of the period.
Consolidated Real Estate Venture
We are a partner in a real estate venture that owns an under construction multifamily asset located at 965 Florida Avenue in Washington, D.C. Pursuant to the terms of the real estate venture agreement, we will fund all capital contributions until our ownership interest reaches a maximum of 97.0%. Our partner can redeem its interest for cash two years after delivery, but no later than seven years subsequent to delivery. As of June 30, 2019, we held a 93.1% ownership interest in the real estate venture.
Below is a summary of the activity of redeemable noncontrolling interests:
 
Three Months Ended June 30,
 
2019
 
2018
 
JBG SMITH LP
 
Consolidated Real Estate Venture
 
Total
 
JBG SMITH LP
 
Consolidated Real Estate Venture
 
Total
 
(In thousands)
Balance as of beginning of period
$
578,781

 
$
5,982

 
$
584,763

 
$
600,094

 
$
5,410

 
$
605,504

OP Unit redemptions
(316
)
 
—

 
(316
)
 
—

 
—

 
—

Long-term incentive partnership
   units ("LTIP Units") issued in lieu
   of cash bonuses (1)
818

 
—

 
818

 
—

 
—

 
—

Net income (loss) attributable to
  redeemable noncontrolling
  interests
(292
)
 
4

 
(288
)
 
3,577

 
(3
)
 
3,574

Other comprehensive income (loss)
(1,503
)
 
—

 
(1,503
)
 
834

 
—

 
834

Contributions (distributions)
(3,838
)
 
—

 
(3,838
)
 
(4,657
)
 
500

 
(4,157
)
Share-based compensation expense
15,343

 
—

 
15,343

 
14,136

 
—

 
14,136

Adjustment to redemption value
(20,751
)
 
—

 
(20,751
)
 
45,732

 
—

 
45,732

Balance as of end of period
$
568,242

 
$
5,986

 
$
574,228

 
$
659,716

 
$
5,907

 
$
665,623


 
Six Months Ended June 30,
 
2019
 
2018
 
JBG SMITH LP
 
Consolidated Real Estate Venture
 
Total
 
JBG SMITH LP
 
Consolidated Real Estate Venture
 
Total
 
(In thousands)
Balance as of beginning of period
$
552,159

 
$
5,981

 
$
558,140

 
$
603,717

 
$
5,412

 
$
609,129

OP Unit redemptions
(57,318
)
 
—

 
(57,318
)
 
—

 
—

 
—

LTIP Units issued in lieu
   of cash bonuses (1)
3,954

 
—

 
3,954

 
—

 
—

 
—

Net income (loss) attributable to
  redeemable noncontrolling
  interests
3,094

 
5

 
3,099

 
2,985

 
(5
)
 
2,980

Other comprehensive income (loss)
(2,886
)
 
—

 
(2,886
)
 
2,710

 
—

 
2,710

Contributions (distributions)
(3,838
)
 
—

 
(3,838
)
 
(4,657
)
 
500

 
(4,157
)
Share-based compensation expense
31,616

 
—

 
31,616

 
27,078

 
—

 
27,078

Adjustment to redemption value
41,461

 
—

 
41,461

 
27,883

 
—

 
27,883

Balance as of end of period
$
568,242

 
$
5,986

 
$
574,228

 
$
659,716

 
$
5,907

 
$
665,623