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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2021

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


	For the Three Months Ended June 30, 2021
	Core Portfolio			Funds			Structured Financing			Unallocated			Total
Revenues	$	46,000		$	28,660		$	—		$	—		$	74,660
Depreciation and amortization		(17,333	)		(14,012	)		—			—			(31,345	)
Property operating expenses, other operating and real estate taxes		(14,205	)		(11,189	)		—			—			(25,394	)
General and administrative expenses		—			—			—			(10,671	)		(10,671	)
Gain on disposition of properties		—			5,909			—			—			5,909
Operating income		14,462			9,368			—			(10,671	)		13,159
Interest income		—			—			2,054			—			2,054
Realized and unrealized holding gains on investments and other		—			2,841			(130	)		—			2,711
Equity in earnings of unconsolidated affiliates		669			437			—			—			1,106
Interest expense		(7,350	)		(10,255	)		—			—			(17,605	)
Income tax provision		—			—			—			(194	)		(194	)
Net income		7,781			2,391			1,924			(10,865	)		1,231
Net (income) loss attributable to noncontrolling interests		(406	)		3,093			—			—			2,687
Net income attributable to Acadia	$	7,375		$	5,484		$	1,924		$	(10,865	)	$	3,918


	For the Three Months Ended June 30, 2020
	Core Portfolio			Funds			Structured Financing		Unallocated			Total
Revenues	$	38,602		$	25,171		$	—	$	—		$	63,773
Depreciation and amortization		(18,150	)		(15,643	)		—		—			(33,793	)
Property operating expenses, other operating and real estate taxes		(17,961	)		(9,542	)		—		—			(27,503	)
General and administrative expenses		—			—			—		(8,720	)		(8,720	)
Gain on disposition of properties		—			485			—		—			485
Operating income		2,491			471			—		(8,720	)		(5,758	)
Interest income		—			—			2,095		—			2,095
Realized and unrealized holding gains on investments and other		—			87,751			60		—			87,811
Equity in (losses) earnings of unconsolidated affiliates		(1,070	)		284			—		—			(786	)
Interest expense		(8,602	)		(9,717	)		—		—			(18,319	)
Income tax provision		—			—			—		(137	)		(137	)
Net (loss) income		(7,181	)		78,789			2,155		(8,857	)		64,906
Net loss (income) attributable to noncontrolling interests		5,068			(50,564	)		—		—			(45,496	)
Net (loss) income attributable to Acadia	$	(2,113	)	$	28,225		$	2,155	$	(8,857	)	$	19,410


	As of or for the Six Months Ended June 30, 2021
	Core Portfolio			Funds			Structured Financing			Unallocated			Total
Revenues	$	88,350		$	55,704		$	—		$	—		$	144,054
Depreciation and amortization		(34,220	)		(28,515	)		—			—			(62,735	)
Property operating expenses, other operating and real estate taxes		(27,862	)		(22,471	)		—			—			(50,333	)
General and administrative expenses		—			—			—			(19,667	)		(19,667	)
Gain on disposition of properties		4,612			5,909			—			—			10,521
Operating income		30,880			10,627			—			(19,667	)		21,840
Interest income		—			—			3,754			—			3,754
Realized and unrealized holding gains on investments and other		—			9,388			(170	)		—			9,218
Equity in (losses) earnings of unconsolidated affiliates		(459	)		3,828			—			—			3,369
Interest expense		(14,564	)		(20,182	)		—			—			(34,746	)
Income tax provision		—			—			—			(344	)		(344	)
Net income		15,857			3,661			3,584			(20,011	)		3,091
Net (income) loss attributable to noncontrolling interests		(1,013	)		7,002			—			—			5,989
Net income attributable to Acadia	$	14,844		$	10,663		$	3,584		$	(20,011	)	$	9,080

Real estate at cost (a)	$	2,323,767		$	1,719,486		$	—		$	—		$	4,043,253
Total assets (a)	$	2,209,033		$	1,763,299		$	117,280		$	—		$	4,089,612
Cash paid for acquisition of real estate	$	—		$	—		$	—		$	—		$	—
Cash paid for development and property improvement costs	$	5,465		$	11,155		$	—		$	—		$	16,620


	As of or for the Six Months Ended June 30, 2020
	Core Portfolio			Funds			Structured Financing			Unallocated			Total
Revenues	$	78,535		$	56,658		$	—		$	—		$	135,193
Depreciation and amortization		(35,207	)		(31,963	)		—			—			(67,170	)
Property operating expenses, other operating and real estate taxes		(29,775	)		(21,495	)		—			—			(51,270	)
General and administrative expenses		—			—			—			(17,790	)		(17,790	)
Impairment charges		—			(51,549	)		—			—			(51,549	)
Gain on disposition of properties		—			485			—			—			485
Operating income (loss)		13,553			(47,864	)		—			(17,790	)		(52,101	)
Interest income		—			—			5,024			—			5,024
Realized and unrealized holding gains on investments and other		—			87,751			(470	)		—			87,281
Equity in earnings (losses) of unconsolidated affiliates		572			(103	)		—			—			469
Interest expense		(16,852	)		(19,769	)		—			—			(36,621	)
Income tax benefit		—			—			—			815			815
Net (loss) income		(2,727	)		20,015			4,554			(16,975	)		4,867
Net loss (income) attributable to noncontrolling interests		6,284			(155	)		—			—			6,129
Net income attributable to Acadia	$	3,557		$	19,860		$	4,554		$	(16,975	)	$	10,996

Real estate at cost (a)	$	2,362,334		$	1,799,890		$	—		$	—		$	4,162,224
Total assets (a)	$	2,323,986		$	1,870,070		$	134,692		$	—		$	4,328,748
Cash paid for acquisition of real estate	$	19,963		$	1,245		$	—		$	—		$	21,208
Cash paid for development and property improvement costs	$	6,443		$	14,090		$	—		$	—		$	20,533

Real estate at cost and total assets for the Funds segment include $650.6 million and $604.8 million, or $189.0 million and $176.0 million net of non-controlling interests, related to Fund II’s City Point property at June 30, 2021 and 2020, respectively.