Equity (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Schedule of Common Stock Granted

During the three months ended March 31, 2022 and 2021, the Company granted common shares to certain employees as follows:

	Three Months Ended March 31,
	2022		2021
Performance Shares:(1)
Shares granted:
Index - 1Q	282,720		297,636
Peer - 1Q	282,715		297,632
Grant date fair value per share:(2)
Index - 1Q	$	9.40	$	7.13
Peer - 1Q	$	8.78	$	6.23
Non-Vested Common Shares:(3)
Shares issued	295,230		304,060
Grant date fair value	$	4,304	$	3,080

(1) The shares vest based on the Company's total shareholder return growth after a three-year measurement period relative to an index and a group of peer companies. Dividends are not paid on these grants until earned. Once the performance criteria are met and the actual number of shares earned is determined, such shares vest immediately. During the three months ended March 31, 2022, all of the 552,121 performance shares issued in 2019 vested.

(2)    The fair value of awards granted was determined at the grant date using a Monte Carlo simulation model.

(3)    The shares vest ratably over a three-year service period.

Schedule of Accumulated Other Comprehensive Income (Loss)

A summary of the changes in accumulated other comprehensive income (loss) related to the Company's cash flow hedges is as follows:

	Three Months Ended March 31,
	2022		2021
Balance at beginning of period	$	(6,258)	$	(17,963)
Other comprehensive income before reclassifications	11,078		4,143
Amounts of loss reclassified from accumulated other comprehensive income to interest expense	1,188		1,203
Balance at end of period	$	6,008	$	(12,617)

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net

The following discloses the effects of changes in the Company's ownership interests in its noncontrolling interests:

	Net Income Attributable to Shareholders and Transfers from Noncontrolling Interests
	Three Months Ended March 31,
	2022		2021
Net income attributable to LXP Industrial Trust shareholders	$	10,622	$	41,042
Transfers from noncontrolling interests:
Increase in additional paid-in-capital for redemption of noncontrolling OP units	36		311
Change from net income attributable to shareholders and transfers from noncontrolling interests	$	10,658	$	41,353