Segment Reporting

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

The Company has three reportable segments: Core Portfolio, Funds and Structured Financing. The Company's Core Portfolio consists primarily of high-quality retail properties located primarily in high-barrier-to-entry, densely-populated metropolitan areas with a long-term investment horizon. The Company's Funds hold primarily retail real estate in which the Company co-invests with high-quality institutional investors. The Company's Structured Financing segment consists of earnings and expenses related to notes and mortgages receivable which are held within the Core Portfolio or the Funds (Note 3). Fees earned by the Company as the general partner or managing member of the Funds are eliminated in the Company’s consolidated financial statements and are not presented in the Company's segments. During 2016, the Company revised how it allocates general and administrative and income tax expenses among its segments to reflect all such expenses as unallocated corporate expenses. The presentation of the years ended 2015 and 2014 has been revised to reflect this change.

The following tables set forth certain segment information for the Company (in thousands):

	As of or for the Year Ended December 31, 2016
(dollars in thousands)	Core Portfolio			Funds			Structured Financing		Unallocated			Total
Revenues	$	150,211		$	39,728		$	—	$	—		$	189,939
Property operating expenses, other operating and real estate taxes	(39,598		)	(17,793		)	—		—			(57,391		)
General and administrative expenses	—			—			—		(40,648		)	(40,648		)
Depreciation and amortization	(54,582		)	(15,429		)	—		—			(70,011		)
Operating income	56,031			6,506			—		(40,648		)	21,889
Equity in earnings of unconsolidated affiliates	3,774			35,675			—		—			39,449
Interest income	—			—			25,829		—			25,829
Interest and other finance expense	(27,435		)	(7,210		)	—		—			(34,645		)
Gain on disposition of properties	—			81,965			—		—			81,965
Income tax benefit	—			—			—		105			105
Net income	32,370			116,936			25,829		(40,543		)	134,592
Net income attributable to noncontrolling interests	(3,411		)	(58,405		)	—		—			(61,816		)
Net income attributable to Acadia	$	28,959		$	58,531		$	25,829	$	(40,543	)	$	72,776
Real estate at cost	$	1,982,763		$	1,399,237		$	—	$	—		$	3,382,000
Total assets	$	2,271,620		$	1,448,177		$	276,163	$	—		$	3,995,960
Acquisition of real estate	$	323,880		$	171,764		$	—	$	—		$	495,644
Development and property improvement costs	$	13,434		$	136,000		$	—	$	—		$	149,434

	As of or for the Year Ended December 31, 2015
(dollars in thousands)	Core Portfolio			Funds			Structured Financing		Unallocated			Total
Revenues	$	150,015		$	49,048		$	—	$	—		$	199,063
Property operating expenses, other operating and real estate taxes	(37,259		)	(21,223		)	—		—			(58,482		)
General and administrative expenses	—			—			—		(30,368		)	(30,368		)
Depreciation and amortization	(46,223		)	(14,528		)	—		—			(60,751		)
Impairment of asset	(5,000		)	—			—		—			(5,000		)
Operating income	61,533			13,297			—		(30,368		)	44,462
Equity in (losses) earnings of unconsolidated affiliates	1,169			36,161			—		—			37,330
Interest income	—			—			16,603		—			16,603
Other	—			—			1,596		—			1,596
Interest and other finance expense	(27,945		)	(9,352		)	—		—			(37,297		)
Gain on disposition of properties	—			89,063			—		—			89,063
Income tax provision	—			—			—		(1,787		)	(1,787		)
Net income	34,757			129,169			18,199		(32,155		)	149,970
Net income attributable to noncontrolling interests	(140		)	(84,122		)	—		—			(84,262		)
Net income attributable to Acadia	$	34,617		$	45,047		$	18,199	$	(32,155	)	$	65,708
Real estate at cost	$	1,572,681		$	1,163,602		$	—	$	—		$	2,736,283
Total assets	$	1,662,092		$	1,223,039		$	147,188	$	—		$	3,032,319
Acquisition of real estate	$	181,884		$	156,816		$	—	$	—		$	338,700
Development and property improvement costs	$	16,505		$	147,810		$	—	$	—		$	164,315

	As of or for the Year Ended December 31, 2014
(in thousands)	Core Portfolio			Funds			Structured Financing		Unallocated			Total
Revenues	$	125,022		$	54,659		$	—	$	—		$	179,681
Property operating expenses, other operating and real estate taxes	(33,097		)	(18,574		)	—		—			(51,671		)
General and administrative expenses	—			—			—		(27,433		)	(27,433		)
Depreciation and amortization	(35,875		)	(13,770		)	—		—			(49,645		)
Operating income	56,050			22,315			—		(27,433		)	50,932
Equity in (losses) earnings of unconsolidated affiliates	(77		)	111,655			—		—			111,578
Gain on disposition of properties	12,577			561			—		—			13,138
Interest income	—			—			12,607		—			12,607
Other	—			—			2,724		—			2,724
Interest and other finance expense	(27,024		)	(12,402		)	—		—			(39,426		)
Income tax provision	—			—			—		(629		)	(629		)
Income from continuing operations	41,526			122,129			15,331		(28,062		)	150,924
Income from discontinued operations	—			1,222			—		—			1,222
Net income	41,526			123,351			15,331		(28,062		)	152,146
Net income attributable to noncontrolling interests	(3,222		)	(77,860		)	—		—			(81,082		)
Net income attributable to Acadia	$	38,304		$	45,491		$	15,331	$	(28,062	)	$	71,064
Real estate at cost	$	1,366,017		$	842,578		$	—	$	—		$	2,208,595
Total assets	$	1,613,290		$	1,005,145		$	102,286	$	—		$	2,720,721
Acquisition of real estate	$	206,203		$	50,250		$	—	$	—		$	256,453
Development and property improvement costs	$	5,432		$	134,686		$	—	$	—		$	140,118