Summary of Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Financial Information (Unaudited)

Summary of Quarterly Financial Information (Unaudited)

The quarterly results of operations of the Company for the years ended December 31, 2017 and 2016 are as follows (in thousands, except per share amounts):

	Three Months Ended (a,b,c,d)
	March 31, 2017			June 30, 2017		September 30, 2017			December 31, 2017
Revenues	$	61,999		$	59,504	$	62,678		$	66,081
Net income	19,971			6,108		13,285			24,944
Net (income) loss attributable to noncontrolling interests	(4,340		)	5,952		(418		)	(4,032		)
Net income attributable to Acadia	15,631			12,060		12,867			20,912
Earnings per share attributable to Acadia:
Basic	$	0.18		$	0.14	$	0.15		$	0.25
Diluted	0.18			0.14		0.15			0.25
Weighted average number of shares:
Basic	83,635			83,662		83,700			83,733
Diluted	83,646			83,662		83,700			83,733
Cash dividends declared per Common Share	$	0.26		$	0.26	$	0.26		$	0.27

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(a) The three months ended March 31, 2017 includes the Company’s $2.7 million proportionate share of aggregate gains of $14.5 million on the sales of two unconsolidated properties (Note 4).

(b) The three months ended June 30, 2017 includes the Company’s $0.8 million proportionate share of a $3.3 million gain on sale of an unconsolidated property (Note 4).

(c) The three months ended September 30, 2017 includes an aggregate $13.0 million gain on the sales of two consolidated properties (Note 2), of which $10.7 million was attributable to noncontrolling interests as well as an impairment charge of  $3.8 million, inclusive of an amount attributable to a noncontrolling interest of $2.7 million (Note 8).

(d) The three months ended December 31, 2017 includes a $5.6 million gain on change in control of interests (Note 4), an aggregate $35.9 million gain on the sales of three consolidated properties (Note 2), of which $26.7 million was attributable to noncontrolling interests; and an impairment charge of $10.6 million, of which $7.6 million was attributable to noncontrolling interests (Note 8).

	Three Months Ended (a, b, c, d)
	March 31, 2016			June 30, 2016			September 30, 2016		December 31, 2016
Revenues	$	48,045		$	43,918		$	43,855	$	54,121
Net income	73,875			26,155			326		34,236
Net (income) loss attributable to noncontrolling interests	(44,950		)	(8,237		)	5,786		(14,415		)
Net income attributable to Acadia	28,925			17,918			6,112		19,821
Earnings per share attributable to Acadia:
Basic	$	0.40		$	0.24		$	0.08	$	0.24
Diluted	0.40			0.24			0.08		0.24
Weighted average number of shares:
Basic	70,756			72,896			78,449		82,728
Diluted	71,215			72,896			78,624		82,728
Cash dividends declared per Common Share	$	0.25		$	0.25		$	0.25	$	0.41

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(a) The three months ended March 31, 2016 includes Fund III's $65.4 million gain on sale of its 65% consolidated interest in Cortlandt Town Center of which $49.4 million was attributable to noncontrolling interests (Note 2).

(b) The three months ended June 30, 2016 includes a $16.6 million gain on sale of Fund III's consolidated Heritage Shops property of which $12.5 million was attributable to noncontrolling interests (Note 2).

(c) The three months ended June 30, 2016, September 30, 2016 and December 31, 2016 reflect the impact of the de-consolidation of the Company's investment in the Brandywine portfolio, which was effective May 1, 2016 (Note 4).

(d) The three months ended December 31, 2016 reflect the impact of an out-of-period adjustment resulting in a net decrease to net income of $4.2 million, of which $1.6 million was attributable to noncontrolling interests (Note 1).