Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2021

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

	As of or for the Three Months Ended March 31, 2021
	Core Portfolio			Funds			Structured Financing			Unallocated			Total
Revenues	$	42,349		$	27,045		$	—		$	—		$	69,394
Depreciation and amortization		(16,887	)		(14,503	)		—			—			(31,390	)
Property operating expenses, other operating and real estate taxes		(13,657	)		(11,282	)		—			—			(24,939	)
General and administrative expenses		—			—			—			(8,996	)		(8,996	)
Gain on disposition of properties		4,612			—			—			—			4,612
Operating income		16,417			1,260			—			(8,996	)		8,681
Interest income		—			—			1,700			—			1,700
Realized and unrealized holding gains on investments and other		—			6,547			(40	)		—			6,507
Equity in (losses) earnings of unconsolidated affiliates		(1,129	)		3,392			—			—			2,263
Interest expense		(7,214	)		(9,927	)		—			—			(17,141	)
Income tax provision		—			—			—			(150	)		(150	)
Net income		8,074			1,272			1,660			(9,146	)		1,860
Net (income) loss attributable to noncontrolling interests		(607	)		3,909			—			—			3,302
Net income attributable to Acadia^(a)	$	7,467		$	5,181		$	1,660		$	(9,146	)	$	5,162

Real estate at cost^(b)	$	2,319,584		$	1,758,469		$	—		$	—		$	4,078,053
Total assets^(b)	$	2,222,886		$	1,829,386		$	101,410		$	—		$	4,153,682
Cash paid for acquisition of real estate	$	—		$	—		$	—		$	—		$	—
Cash paid for development and property improvement costs	$	2,843		$	2,582		$	—		$	—		$	5,425

	As of or for the Three Months Ended March 31, 2020
	Core Portfolio			Funds			Structured Financing			Unallocated			Total
Revenues	$	39,933		$	31,487		$	—		$	—		$	71,420
Depreciation and amortization		(17,056	)		(16,321	)		—			—			(33,377	)
Property operating expenses, other operating and real estate taxes		(11,814	)		(11,953	)		—			—			(23,767	)
General and administrative expenses		—			—			—			(9,070	)		(9,070	)
Impairment charges		—			(51,549	)		—			—			(51,549	)
Operating income (loss)		11,063			(48,336	)		—			(9,070	)		(46,343	)
Interest and other income		—			—			2,929			—			2,929
Realized and unrealized holding gains on investments and other		—			—			(530	)		—			(530	)
Equity in earnings (losses) of unconsolidated affiliates		1,642			(387	)		—			—			1,255
Interest expense		(8,250	)		(10,052	)		—			—			(18,302	)
Income tax benefit		—			—			—			952			952
Net income (loss)		4,455			(58,775	)		2,399			(8,118	)		(60,039	)
Net loss attributable to noncontrolling interests		1,216			50,409			—			—			51,625
Net income (loss) attributable to Acadia	$	5,671		$	(8,366	)	$	2,399		$	(8,118	)	$	(8,414	)

Real estate at cost ^(a)	$	2,289,449		$	1,792,667		$	—		$	—		$	4,082,116
Total assets^(a)	$	2,330,971		$	1,801,008		$	173,159		$	—		$	4,305,138
Cash paid for acquisition of real estate	$	19,088		$	—		$	—		$	—		$	19,088
Cash paid for development and property improvement costs	$	2,638		$	10,695		$	—		$	—		$	13,576

(a)

Real estate at cost and total assets for the Funds segment include $643.0 million and $641.7 million, or $186.9 million and $186.5 million net of non-controlling interests, related to Fund II’s City Point property at March 31, 2021 and March 31, 2020, respectively.