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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2025 | Sep. 30, 2024 | Sep. 30, 2025 | Sep. 30, 2024
Revenues |  | $ 101,006 | $ 87,745 | $ 305,992 | $ 266,355
Expenses |  |  |  |  |
Depreciation and amortization |  | 38,884 | 34,500 | 117,593 | 103,721
General and administrative |  | 10,924 | 10,215 | 34,053 | 30,162
Real estate taxes |  | 11,832 | 11,187 | 38,452 | 33,514
Property operating |  | 16,627 | 14,351 | 52,431 | 49,228
Impairment charges |  | 12,570 | 0 | 37,210 | 0
Total expenses |  | 90,837 | 70,253 | 279,739 | 216,625
Gain (loss) on disposition of properties |  | 2,515 | 0 | 2,515 | (441)
Operating income |  | 12,684 | 17,492 | 28,768 | 49,289
Equity in (losses) earnings of unconsolidated affiliates |  | (3,694) | 11,784 | (9,598) | 15,952
Interest income | [1] | 6,121 | 7,859 | 18,575 | 18,510
Realized and unrealized holding losses on investments and other |  | (1,760) | (1,503) | (193) | (5,918)
Interest expense |  | (24,304) | (23,363) | (71,155) | (70,653)
Loss on change in control |  | 0 | 0 | (9,622) | 0
(Loss) income from continuing operations before income taxes |  | (10,953) | 12,269 | (43,225) | 7,180
Income tax provision |  | (2) | (15) | (329) | (201)
Net (loss) income |  | (10,955) | 12,254 | (43,554) | 6,979
Net loss attributable to redeemable noncontrolling interests |  | 1,567 | 1,672 | 4,960 | 6,518
Net loss (income) attributable to noncontrolling interests |  | 15,006 | (5,512) | 47,783 | (371)
Net income attributable to Acadia shareholders |  | $ 5,618 | $ 8,414 | $ 9,189 | $ 13,126
Basic income per share |  | $ 0.03 | $ 0.07 | $ 0.06 | $ 0.12
Diluted income per share |  | $ 0.03 | $ 0.07 | $ 0.06 | $ 0.12
Weighted average shares for basic earnings per share |  | 131,019,918 | 108,351,254 | 127,812,182 | 104,703,763
Weighted average shares for diluted income per share |  | 131,022,230 | 108,351,254 | 127,818,713 | 104,703,763
Rental Income |  |  |  |  |
Revenues |  | $ 98,714 | $ 86,288 | $ 299,651 | $ 257,951
Other |  |  |  |  |
Revenues |  | $ 2,292 | $ 1,457 | $ 6,341 | $ 8,404
[1] | Includes inte rest income on Notes receivable, net from related parties, advances to unconsolidated affiliates, and loans to redeemable noncontrolling interest holders of $3.2 million and $4.8 million for the three months ended September 30, 2025 and 2024, respectively, and $10.1 million and $10.3 million for the nine months ended September 30, 2025 and 2024, respectively (Note 3, Note 10)

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