Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2020

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

	As of or for the Year Ended December 31, 2020
	Core Portfolio			Funds			Structured Financing		Unallocated			Total
Revenues	$	160,262		$	95,222		$	—	$	—		$	255,484
Depreciation and amortization		(76,125	)		(73,668	)		—		—			(149,793	)
Property operating expenses, other operating and real estate taxes		(57,246	)		(42,854	)		—		—			(100,100	)
General and administrative expenses		—			—			—		(36,055	)		(36,055	)
Impairment charges		(419	)		(85,179	)		—		—			(85,598	)
Gain on disposition of properties		174			509			—		—			683
Operating income (loss)		26,646			(105,970	)		—		(36,055	)		(115,379	)
Interest income		—			—			8,979		—			8,979
Equity in losses of unconsolidated affiliates inclusive of gains on disposition of properties		(874	)		(363	)		—		—			(1,237	)
Interest expense		(33,185	)		(38,875	)		—		—			(72,060	)
Realized and unrealized holding gains on investments and other		18,564			95,366			—		—			113,930
Income tax provision		—			—			—		(271	)		(271	)
Net income (loss)		11,151			(49,842	)		8,979		(36,326	)		(66,038	)
Net (income) loss attributable to noncontrolling interests		(5,837	)		63,116			—		—			57,279
Net income (loss) attributable to Acadia^(a)	$	5,314		$	13,274		$	8,979	$	(36,326	)	$	(8,759	)

Real estate at cost ^(b)	$	2,330,116		$	1,764,172		$	—	$	—		$	4,094,288
Total Assets ^(b)	$	2,254,680		$	1,830,752		$	101,450	$	—		$	4,186,882
Cash paid for acquisition of real estate and leasehold interest	$	19,963		$	1,245		$	—	$	—		$	21,208
Cash paid for development and property improvement costs	$	11,170		$	29,313		$	—	$	—		$	40,483

	As of or for the Year Ended December 31, 2019
	Core Portfolio			Funds			Structured Financing		Unallocated			Total
Revenues	$	173,177		$	122,150		$	—	$	—		$	295,327
Depreciation and amortization		(61,819	)		(63,624	)		—		—			(125,443	)
Property operating expenses, other operating and real estate taxes		(47,032	)		(43,436	)		—		—			(90,468	)
General and administrative expenses		—			—			—		(35,416	)		(35,416	)
Impairment charges		—			(1,721	)		—		—			(1,721	)
Gain on disposition of properties		16,771			13,553			—		—			30,324
Operating income (loss)		81,097			26,922			—		(35,416	)		72,603
Interest income		—			—			7,988		—			7,988
Equity in earnings (loss) of unconsolidated affiliates inclusive of gains on disposition of properties		9,020			(98	)		—		—			8,922
Interest expense		(28,304	)		(45,484	)		—		—			(73,788	)
Realized and unrealized holding (losses) gains on investments and other		327			6,620			—		—			6,947
Income tax provision		—			—			—		(1,468	)		(1,468	)
Net income (loss)		62,140			(12,040	)		7,988		(36,884	)		21,204
Net loss attributable to noncontrolling interests		337			31,504			—		—			31,841
Net income attributable to Acadia (a)	$	62,477		$	19,464		$	7,988	$	(36,884	)	$	53,045

Real estate at cost (b)	$	2,252,230		$	1,787,306		$	—	$	—		$	4,039,536
Total Assets (b)	$	2,350,833		$	1,843,338		$	114,943	$	—		$	4,309,114
Cash paid for acquisition of real estate	$	173,892		$	184,812		$	—	$	—		$	358,704
Cash paid for development and property improvement costs	$	22,724		$	66,546		$	—	$	—		$	89,270

	As of or for the Year Ended December 31, 2018
	Core Portfolio			Funds			Structured Financing		Unallocated			Total
Revenues	$	166,816		$	92,865		$	—	$	—		$	259,681
Depreciation and amortization		(60,903	)		(56,646	)		—		—			(117,549	)
Property operating expenses, other operating and real estate taxes		(44,060	)		(36,188	)		—		—			(80,248	)
General and administrative expenses		—			—			—		(34,343	)		(34,343	)
Gain on disposition of properties		—			5,140			—		—			5,140
Operating income (loss)		61,853			5,171			—		(34,343	)		32,681
Interest income		—			—			13,231		—			13,231
Equity in earnings of unconsolidated affiliates inclusive of gains on disposition of properties		7,415			1,887			—		—			9,302
Interest expense		(27,575	)		(42,403	)		—		—			(69,978	)
Income tax provision		—			—			—		(934	)		(934	)
Net income		41,693			(35,345	)		13,231		(35,277	)		(15,698	)
Net loss attributable to noncontrolling interests		752			46,385			—		—			47,137
Net income attributable to Acadia^(a)	$	42,445		$	11,040		$	13,231	$	(35,277	)	$	31,439

Real estate at cost	$	2,069,439		$	1,628,366		$	—	$	—		$	3,697,805
Total assets	$	2,232,695		$	1,616,472		$	109,613	$	—		$	3,958,780
Cash paid for acquisition of real estate	$	1,343		$	146,642		$	—	$	—		$	147,985
Cash paid for development and property improvement costs	$	32,662		$	62,172		$	—	$	—		$	94,834

(a)

Net income attributable to Acadia for the Core segment includes $2.2 million, $4.7 million and $4.1 million associated with one property, Town Center, for the years ended December 31, 2020, 2019 and 2018, respectively. These amounts include the results of three entities, including the unconsolidated Town Center venture and the consolidated Brandywine Holdings (Note 4) and Brandywine Maintenance Corp., which on a combined basis constitute the operating results of the shopping center. In April 2020, the Town Center venture was consolidated (Note 4).

(b)

Real estate at cost and total assets for the Funds segment include $641.7 million and $603.3 million, or $186.5 million and $174.7 million net of non-controlling interests, related to Fund II’s City Point property at December 31, 2020 and 2019, respectively.