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SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (Tables)
 12 Months Ended
Dec. 31, 2015
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]  
Change in Noncontrolling Interests
The following table summarizes the change in the noncontrolling interests since December 31, 2014:

ACADIA REALTY TRUST AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

11. Shareholders’ Equity and Noncontrolling Interests, continued
 
 
Noncontrolling
Interests
in Operating
Partnership
 
Noncontrolling
Interests
in Partially-Owned
Affiliates
(dollars in thousands)
 
 

 
 

Balance at December 31, 2014
 
$
94,235

 
$
286,181

Distributions declared of $1.22 per Common OP Unit
 
(5,983
)
 
—

Net income for the period January 1 through December 31, 2015
 
3,836

 
80,426

Conversion of 100,620 OP Units to Common Shares by limited partners of the Operating Partnership
 
(2,451
)
 
—

Other comprehensive income - unrealized loss on valuation of swap agreements
 
(117
)
 
(897
)
Reclassification of realized interest expense on swap agreements
 
97

 
1,838

Noncontrolling interest contributions
 
—

 
35,489

Noncontrolling interest distributions and other reductions
 
—

 
(78,511
)
Employee Long-term Incentive Plan Unit Awards
 
6,723

 
—

Balance at December 31, 2015
 
$
96,340

 
$
324,526