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Federal Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Schedule of Reconciliation of Net Income to Taxable Income
Reconciliation of GAAP net income attributable to Acadia to taxable income is as follows:
 
 
Year Ended December 31,
(in thousands)
 
2017
 
2016
 
2015
 
 
 
 
 
 
 
Net income attributable to Acadia
 
$
61,470

 
$
72,776

 
$
65,708

Deferred cancellation of indebtedness income
 
2,050

 
2,050

 
2,050

Deferred rental and other income (a)
 
(934
)
 
1,610

 
82

Book/tax difference - depreciation and amortization (a)
 
21,334

 
15,189

 
9,983

Straight-line rent and above- and below-market rent adjustments (a)
 
(10,559
)
 
(7,882
)
 
(8,041
)
Book/tax differences - equity-based compensation
 
5,325

 
10,307

 
5,833

Joint venture equity in earnings, net (a)
 
9,114

 
(2,011
)
 
5,776

Impairment charges and reserves
 
—

 
769

 
(714
)
Acquisition costs (a)
 
1,135

 
5,116

 
1,190

Gains
 
(5,181
)
 
—

 
(760
)
Book/tax differences - miscellaneous
 
930

 
(4,924
)
 
2,573

Taxable income
 
$
84,684

 
$
93,000

 
$
83,680

Distributions declared
 
$
87,848

 
$
91,053

 
$
84,683


__________

(a)
Adjustments from certain subsidiaries and affiliates, which are consolidated for financial reporting but not for tax reporting, are included in the reconciliation item "Joint venture equity in earnings, net."
Schedule of Tax Status of Dividends
The Company has determined that the cash distributed to the shareholders for the periods presented is characterized as follows for Federal income tax purposes:
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
Per Share
 
%
 
Per Share
 
%
 
Per Share
 
%
Ordinary income
$
0.82

 
78
%
 
$
0.77

 
66
%
 
$
0.83

 
68
%
Qualified dividend
—

 
—
%
 
—

 
—
%
 
—

 
—
%
Capital gain
0.23

 
22
%
 
0.39

 
34
%
 
0.39

 
32
%
Total
$
1.05

 
100
%
 
$
1.16

 
100
%
 
$
1.22

 
100
%
Schedule of TRS Income and Provision for Income Taxes
Income taxes have been provided for using the liability method as required by ASC Topic 740, “Income Taxes.” The Company’s TRS income and provision for income taxes associated with the TRS for the periods presented are summarized as follows (in thousands):
 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
TRS income (loss) before income taxes
 
$
(3,604
)
 
$
(1,583
)
 
$
1,008

(Provision) benefit for income taxes:
 
 
 
 
 
 
Federal
 
(982
)
 
378

 
(526
)
State and local
 
423

 
97

 
(134
)
TRS net income (loss) before noncontrolling interests
 
(4,163
)
 
(1,108
)
 
348

Noncontrolling interests
 
8

 
(9
)
 
(208
)
TRS net income (loss)
 
$
(4,155
)
 
$
(1,117
)
 
$
140
Schedule of Effective Income Tax Rate Reconciliation
The income tax provision for the Company differs from the amount computed by applying the statutory Federal income tax rate to income before income taxes as follows. Amounts are not adjusted for temporary book/tax differences (in thousands):
 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
Federal tax provision (benefit) at statutory tax rate
 
$
(1,225
)
 
$
(538
)
 
$
343

TRS state and local taxes, net of Federal benefit
 
(190
)
 
(84
)
 
53

Tax effect of:
 
 
 
 
 
 
Permanent differences, net
 
1,131

 
1,663

 
396

Prior year (over) under-accrual, net
 
(1,541
)
 
—

 
938

Effect of Tax Cuts and Jobs Act
 
1,982

 
—

 
—

Other
 
404

 
(1,516
)
 
(131
)
REIT state and local income and franchise taxes
 
443

 
370

 
188

Total provision (benefit) for income taxes
 
$
1,004

 
$
(105
)
 
$
1,787