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Redeemable Noncontrolling Interests/Units in FelCor LP Redeemable Noncontrolling Interests/Units in FelCor LP
 12 Months Ended
Dec. 31, 2018
Noncontrolling Interest [Abstract]  
Redeemable Noncontrolling Interests/Units in FelCor LP
Redeemable Noncontrolling Interests/Units in FelCor LP    
 
In the Predecessor period, FelCor recorded the redeemable noncontrolling interests in FelCor LP, and FelCor LP recorded the redeemable units, in the mezzanine section (between liabilities and equity/partners' capital) of the consolidated balance sheets because of the redemption feature of the units. The redeemable noncontrolling interests/redeemable units held by the limited partners were redeemable for shares of Common Stock, or at the option of FelCor, for cash. Additionally, FelCor's consolidated statements of operations and comprehensive income (loss) separately present earnings attributable to the redeemable noncontrolling interests. FelCor adjusted the redeemable noncontrolling interests in FelCor LP (or redeemable units) each reporting period to reflect the greater of the carrying value based on the accumulation of historical costs or the redemption value. FelCor based the historical cost on the proportionate relationship between the carrying value of the equity associated with FelCor's common stockholders relative to that of FelCor LP's unitholders. FelCor based the redemption value on the closing price of the Common Stock at the end of the reporting period. FelCor allocated the net income (loss) to FelCor LP's noncontrolling limited partners based on their weighted average ownership percentage during the period.

At August 31, 2017 and December 31, 2016, FelCor carried 610,183 outstanding limited partnership units at $4.5 million and $4.9 million, respectively. FelCor based the value of the outstanding limited partnership units on the closing price of the Common Stock at August 31, 2017 ($7.30 per share) and December 31, 2016 ($8.01 per share).

The following table summarizes the changes in the redeemable noncontrolling interests (or redeemable units) (in thousands):
 
Predecessor
 
January 1
through
August 31,
 
For the
year ended
December 31,
 
2017
 
2016
Balance at beginning of the period
$
4,888

 
$
4,464

Conversion of units
—

 
(9
)
Redemption value allocation
196

 
673

Distributions paid to unitholders
(134
)
 
(147
)
Net loss
(495
)
 
(93
)
Balance at end of the period
$
4,455

 
$
4,888



Upon completion of the Partnership Merger, each outstanding FelCor LP Common Unit was converted into 0.362 common units of limited partnership interest in RLJ LP, unless the respective limited partner of FelCor LP elected to redeem his or her FelCor LP Common Units and receive 0.362 common shares of RLJ. Accordingly, for the Successor period, the Company no longer recognizes a redeemable noncontrolling interest (or redeemable units) in FelCor LP on the consolidated balance sheets.