XML 46 R36.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Segment Reporting (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Segment Reporting [Abstract] |
Summary of Segment Information | The following tables set forth certain segment information for the Company (in thousands):
|  | For the Three Months Ended September 30, 2022 |
|  | Core Portfolio |  |  | Funds |  |  | Structured Financing |  |  | Unallocated |  |  | Total |
Revenues |  | $ | 50,076 |  |  | $ | 29,870 |  |  | $ | — |  |  | $ | — |  |  | $ | 79,946 |
Depreciation and amortization |  |  | (18,811 | ) |  |  | (14,933 | ) |  |  | — |  |  |  | — |  |  |  | (33,744 | )
Property operating expenses and real estate taxes |  |  | (14,808 | ) |  |  | (10,751 | ) |  |  | — |  |  |  | — |  |  |  | (25,559 | )
General and administrative expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (10,170 | ) |  |  | (10,170 | )
Impairment charges |  |  | — |  |  |  | (33,311 | ) |  |  | — |  |  |  | — |  |  |  | (33,311 | )
Gain on disposition of properties |  |  | — |  |  |  | 8,885 |  |  |  | — |  |  |  | — |  |  |  | 8,885 |
Operating income (loss) |  |  | 16,457 |  |  |  | (20,240 | ) |  |  | — |  |  |  | (10,170 | ) |  |  | (13,953 | )
Interest and other income |  |  | — |  |  |  | — |  |  |  | 3,994 |  |  |  | — |  |  |  | 3,994 |
Realized and unrealized holding losses on investments and other |  |  | — |  |  |  | (7,257 | ) |  |  | (605 | ) |  |  | — |  |  |  | (7,862 | )
Equity in losses of unconsolidated affiliates |  |  | (49,806 | ) |  |  | (773 | ) |  |  | — |  |  |  | — |  |  |  | (50,579 | )
Interest expense |  |  | (10,428 | ) |  |  | (10,734 | ) |  |  | — |  |  |  | — |  |  |  | (21,162 | )
Income tax benefit |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 17 |  |  |  | 17 |
Net loss |  |  | (43,777 | ) |  |  | (39,004 | ) |  |  | 3,389 |  |  |  | (10,153 | ) |  |  | (89,545 | )
Net loss attributable to redeemable noncontrolling interests |  |  | — |  |  |  | 3,193 |  |  |  | — |  |  |  | — |  |  |  | 3,193 |
Net loss attributable to noncontrolling interests |  |  | 2,884 |  |  |  | 27,577 |  |  |  | — |  |  |  | — |  |  |  | 30,461 |
Net loss attributable to Acadia |  | $ | (40,893 | ) |  | $ | (8,234 | ) |  | $ | 3,389 |  |  | $ | (10,153 | ) |  | $ | (55,891 | )
|  | For the Three Months Ended September 30, 2021 (As Restated) |
|  | Core Portfolio |  |  | Funds |  |  | Structured Financing |  |  | Unallocated |  |  | Total |
Revenues |  | $ | 45,942 |  |  | $ | 25,954 |  |  | $ | — |  |  | $ | — |  |  | $ | 71,896 |
Depreciation and amortization |  |  | (17,678 | ) |  |  | (12,386 | ) |  |  | — |  |  |  | — |  |  |  | (30,064 | )
Property operating expenses and real estate taxes |  |  | (13,911 | ) |  |  | (9,560 | ) |  |  | — |  |  |  | — |  |  |  | (23,471 | )
General and administrative expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (9,910 | ) |  |  | (9,910 | )
Impairment charges |  |  | — |  |  |  | (9,925 | ) |  |  | — |  |  |  | — |  |  |  | (9,925 | )
Operating income (loss) |  |  | 14,353 |  |  |  | (5,917 | ) |  |  | — |  |  |  | (9,910 | ) |  |  | (1,474 | )
Interest and other income |  |  | — |  |  |  | — |  |  |  | 2,354 |  |  |  | — |  |  |  | 2,354 |
Realized and unrealized holding gains (losses) on investments and other |  |  | — |  |  |  | 47,643 |  |  |  | (1,150 | ) |  |  | — |  |  |  | 46,493 |
Equity in (losses) earnings of unconsolidated affiliates |  |  | (485 | ) |  |  | 857 |  |  |  | — |  |  |  | — |  |  |  | 372 |
Interest expense |  |  | (7,322 | ) |  |  | (9,292 | ) |  |  | — |  |  |  | — |  |  |  | (16,614 | )
Income tax provision |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (59 | ) |  |  | (59 | )
Net income |  |  | 6,546 |  |  |  | 33,291 |  |  |  | 1,204 |  |  |  | (9,969 | ) |  |  | 31,072 |
Net income attributable to noncontrolling interests |  |  | (912 | ) |  |  | (18,153 | ) |  |  | — |  |  |  | — |  |  |  | (19,065 | )
Net income attributable to Acadia |  | $ | 5,634 |  |  | $ | 15,138 |  |  | $ | 1,204 |  |  | $ | (9,969 | ) |  | $ | 12,007 |
|  | As of or for the Nine Months Ended September 30, 2022 |
|  | Core Portfolio |  |  | Funds |  |  | Structured Financing |  |  | Unallocated |  |  | Total |
Revenues |  | $ | 151,650 |  |  | $ | 94,062 |  |  | $ | — |  |  | $ | — |  |  | $ | 245,712 |
Depreciation and amortization |  |  | (56,547 | ) |  |  | (45,881 | ) |  |  | — |  |  |  | — |  |  |  | (102,428 | )
Property operating expenses and real estate taxes |  |  | (44,379 | ) |  |  | (31,005 | ) |  |  | — |  |  |  | — |  |  |  | (75,384 | )
General and administrative expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (32,768 | ) |  |  | (32,768 | )
Impairment charges |  |  | — |  |  |  | (33,311 | ) |  |  | — |  |  |  | — |  |  |  | (33,311 | )
Gain on disposition of properties |  |  | — |  |  |  | 49,916 |  |  |  | — |  |  |  | — |  |  |  | 49,916 |
Operating income |  |  | 50,724 |  |  |  | 33,781 |  |  |  | — |  |  |  | (32,768 | ) |  |  | 51,737 |
Interest and other income |  |  | — |  |  |  | — |  |  |  | 9,890 |  |  |  | — |  |  |  | 9,890 |
Realized and unrealized holding gains (losses) on investments and other |  |  | 1,163 |  |  |  | (19,073 | ) |  |  | (505 | ) |  |  | — |  |  |  | (18,415 | )
Equity in (losses) earnings of unconsolidated affiliates |  |  | (47,402 | ) |  |  | 1,233 |  |  |  | — |  |  |  | — |  |  |  | (46,169 | )
Interest expense |  |  | (26,543 | ) |  |  | (31,766 | ) |  |  | — |  |  |  | — |  |  |  | (58,309 | )
Income tax provision |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (7 | ) |  |  | (7 | )
Net loss |  |  | (22,058 | ) |  |  | (15,825 | ) |  |  | 9,385 |  |  |  | (32,775 | ) |  |  | (61,273 | )
Net loss attributable to redeemable noncontrolling interests |  |  | — |  |  |  | 3,193 |  |  |  | — |  |  |  | — |  |  |  | 3,193 |
Net loss attributable to noncontrolling interests |  |  | 1,398 |  |  |  | 17,255 |  |  |  | — |  |  |  | — |  |  |  | 18,653 |
Net (loss) income attributable to Acadia |  | $ | (20,660 | ) |  | $ | 4,623 |  |  | $ | 9,385 |  |  | $ | (32,775 | ) |  | $ | (39,427 | )
Real estate at cost (a) |  | $ | 2,614,103 |  |  | $ | 1,651,319 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,265,422 |
Total assets (a) |  | $ | 2,636,041 |  |  | $ | 1,603,491 |  |  | $ | 123,966 |  |  | $ | — |  |  | $ | 4,363,498 |
Cash paid for acquisition of real estate |  | $ | 242,633 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 242,633 |
Cash paid for development and property improvement costs |  | $ | 22,325 |  |  | $ | 14,538 |  |  | $ | — |  |  | $ | — |  |  | $ | 36,863 |
|  | As of or for the Nine Months Ended September 30, 2021 As Restated |
|  | Core Portfolio |  |  | Funds |  |  | Structured Financing |  |  | Unallocated |  |  | Total |
Revenues |  | $ | 134,292 |  |  | $ | 78,848 |  |  | $ | — |  |  | $ | — |  |  | $ | 213,140 |
Depreciation and amortization |  |  | (51,898 | ) |  |  | (39,346 | ) |  |  | — |  |  |  | — |  |  |  | (91,244 | )
Property operating expenses and real estate taxes |  |  | (41,773 | ) |  |  | (30,963 | ) |  |  | — |  |  |  | — |  |  |  | (72,736 | )
General and administrative expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (29,555 | ) |  |  | (29,555 | )
Impairment charges |  |  | — |  |  |  | (9,925 | ) |  |  | — |  |  |  | — |  |  |  | (9,925 | )
Gain on disposition of properties |  |  | 4,612 |  |  |  | 5,909 |  |  |  | — |  |  |  | — |  |  |  | 10,521 |
Operating income |  |  | 45,233 |  |  |  | 4,523 |  |  |  | — |  |  |  | (29,555 | ) |  |  | 20,201 |
Interest and other income |  |  | — |  |  |  | — |  |  |  | 6,108 |  |  |  | — |  |  |  | 6,108 |
Realized and unrealized holding gains (losses) on investments and other |  |  | — |  |  |  | 57,031 |  |  |  | (3,571 | ) |  |  | — |  |  |  | 53,460 |
Equity in (losses) earnings of unconsolidated affiliates |  |  | (944 | ) |  |  | 4,097 |  |  |  | — |  |  |  | — |  |  |  | 3,153 |
Interest expense |  |  | (21,863 | ) |  |  | (28,439 | ) |  |  | — |  |  |  | — |  |  |  | (50,302 | )
Income tax provision |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (399 | ) |  |  | (399 | )
Net income |  |  | 22,426 |  |  |  | 37,212 |  |  |  | 2,537 |  |  |  | (29,954 | ) |  |  | 32,221 |
Net income attributable to noncontrolling interests |  |  | (1,926 | ) |  |  | (9,760 | ) |  |  | — |  |  |  | — |  |  |  | (11,686 | )
Net income attributable to Acadia |  | $ | 20,500 |  |  | $ | 27,452 |  |  | $ | 2,537 |  |  | $ | (29,954 | ) |  | $ | 20,535 |
Real estate at cost (a) |  | $ | 2,328,208 |  |  | $ | 1,737,786 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,065,994 |
Total assets (a) |  | $ | 2,201,871 |  |  | $ | 1,827,565 |  |  | $ | 154,849 |  |  | $ | — |  |  | $ | 4,184,285 |
Cash paid for acquisition of real estate |  | $ | — |  |  | $ | 63,425 |  |  | $ | — |  |  | $ | — |  |  | $ | 63,425 |
Cash paid for development and property improvement costs |  | $ | 11,601 |  |  | $ | 14,334 |  |  | $ | — |  |  | $ | — |  |  | $ | 25,935 |

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration