Equity (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Share-Based Payment Arrangement, Activity

During the three months ended March 31, 2023 and 2022, the Company granted common shares to certain employees as follows:

	Three Months Ended March 31,
	2023		2022
Performance Shares:(1)
Shares granted:
Index - 1Q	407,611		282,720
Peer - 1Q	407,606		282,715
Grant date fair value per share:(2)
Index - 1Q	$	6.96	$	9.40
Peer - 1Q	$	6.50	$	8.78
Non-Vested Common Shares:(3)
Shares issued	376,480		295,230
Grant date fair value	$	4,010	$	4,304

(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, 2023, 266,812 performance shares of the remaining 443,359 issued in 2020 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,
	2023		2022
Balance at beginning of period	$	17,689	$	(6,258)
Other comprehensive income (loss) before reclassifications	(1,064)		11,078
Amounts of loss reclassified from accumulated other comprehensive income (loss) to interest expense	(2,456)		1,188
Balance at end of period	$	14,169	$	6,008

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,
	2023		2022
Net income attributable to LXP Industrial Trust shareholders	$	11,166	$	10,622
Transfers from noncontrolling interests:
Increase in additional paid-in-capital for redemption of noncontrolling OP units	18		36
Change from net income attributable to shareholders and transfers from noncontrolling interests	$	11,184	$	10,658