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Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2021

Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]

The following table sets forth the distributions declared and/or paid during the periods presented:


Date Declared	Amount Per Share		Record Date	Payment Date

November 5, 2019	$	0.29	December 31, 2019	January 15, 2020
February 26, 2020	$	0.29	March 31, 2020	April 15, 2020
March 15, 2021	$	0.15	March 31, 2021	April 15, 2021
May 5, 2021	$	0.15	June 30, 2021	July 15, 2021
August 5, 2021	$	0.15	September 30, 2021	October 15, 2021
November 3, 2021	$	0.15	December 31, 2021	January 14, 2022

Summary of Activity in Accumulated Other Comprehensive Loss

The following tables set forth the activity in accumulated other comprehensive loss for the years ended December 31, 2021, 2020 and 2019 (in thousands):


	Acadia's Share
Balance at January 1, 2021	$	(74,891	)

Other comprehensive income before reclassifications - swap agreements		30,500
Reclassification of realized interest on swap agreements		21,407
Net current period other comprehensive income		51,907
Net current period other comprehensive income attributable to noncontrolling interests		(13,230	)
Balance at December 31, 2021	$	(36,214	)

Balance at January 1, 2020	$	(31,474	)

Other comprehensive loss before reclassifications - swap agreements		(73,686	)
Reclassification of realized interest on swap agreements		15,059
Net current period other comprehensive loss		(58,627	)
Net current period other comprehensive loss attributable to noncontrolling interests		15,210
Balance at December 31, 2020	$	(74,891	)

Balance at January 1, 2019	$	516

Other comprehensive loss before reclassifications		(35,883	)
Reclassification of realized interest on swap agreements		(870	)
Net current period other comprehensive loss		(36,753	)
Net current period other comprehensive income attributable to noncontrolling interests		4,763
Balance at December 31, 2019	$	(31,474	)

Summary of Change in Noncontrolling Interest

The following tables summarize the change in the noncontrolling interests for the years ended December 31, 2021, 2020 and 2019 (dollars in thousands):


	Noncontrolling Interests in Operating Partnership (a)			Noncontrolling Interests in Partially-Owned Affiliates (b)			Total
Balance at January 1, 2021	$	89,431		$	519,734		$	609,165
Distributions declared of $0.60 per Common OP Unit and distributions on Preferred OP Units		(4,185	)		—			(4,185	)
Net income for the year ended December 31, 2021		2,075			407			2,482
Conversion of 89,765 Common OP Units to Common Shares by limited partners of the Operating Partnership		(1,431	)		—			(1,431	)
Cancellation of OP Units (c)		(568	)		—			(568	)
Other comprehensive income - unrealized gain on valuation of swap agreements		2,072			3,918			5,990
Reclassification of realized interest expense on swap agreements		210			7,030			7,240
Noncontrolling interest contributions		—			30,164			30,164
Noncontrolling interest distributions		—			(27,051	)		(27,051	)
Employee Long-term Incentive Plan Unit Awards		11,284			—			11,284
Reallocation of noncontrolling interests (d)		(4,768	)		—			(4,768	)
Balance at December 31, 2021	$	94,120		$	534,202		$	628,322

Balance at January 1, 2020	$	97,670		$	548,769		$	646,439
Distributions declared of $0.29 per Common OP Unit		(2,218	)		—			(2,218	)
Net income (loss) for the year ended December 31, 2020		125			(56,867	)		(56,742	)
Conversion of 407,594 Common OP Units to Common Shares by limited partners of the Operating Partnership		(6,544	)		—			(6,544	)
Other comprehensive loss - unrealized loss on valuation of swap agreements		(2,709	)		(17,995	)		(20,704	)
Reclassification of realized interest expense on swap agreements		174			5,320			5,494
Noncontrolling interest contributions		—			52,174			52,174
Noncontrolling interest distributions		—			(27,574	)		(27,574	)
Employee Long-term Incentive Plan Unit Awards		10,130			—			10,130
Reallocation of noncontrolling interests (d)		(7,197	)		—			(7,197	)
Acquisition of noncontrolling interest		—			15,918			15,918
Cumulative effect of change in accounting principle		—			(11	)		(11	)
Balance at December 31, 2020	$	89,431		$	519,734		$	609,165

Balance at January 1, 2019	$	104,223		$	519,759		$	623,982
Distributions declared of $1.13 per Common OP Unit		(7,124	)		—			(7,124	)
Net income (loss) for the year ended December 31, 2019		3,836			(34,319	)		(30,483	)
Conversion of 307,663 Common OP Units to Common Shares by limited partners of the Operating Partnership		(5,104	)		—			(5,104	)
Other comprehensive loss - unrealized loss on valuation of swap agreements		(1,899	)		(2,946	)		(4,845	)
Reclassification of realized interest (income) expense on swap agreements		(62	)		144			82
Noncontrolling interest contributions		—			161,365			161,365
Noncontrolling interest distributions		—			(94,283	)		(94,283	)
Employee Long-term Incentive Plan Unit Awards		9,460			—			9,460
Rebalancing adjustment (c)		(6,611	)		—			(6,611	)
Balance at December 31, 2019	$	96,719		$	549,720		$	646,439

Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,076,849, 3,101,958, and 3,250,603 Common OP Units at December 31, 2021, 2020 and 2019, respectively; (ii) 188 Series A Preferred OP Units at December 31, 2021, 2020 and 2019; (iii) 126,593 Series C Preferred OP Units at December 31, 2021 and 2020, and 136,593 at December 31, 2019; and (iv) 3,371,296, 2,886,207, and 2,673,484 LTIP units at December 31, 2021, 2020 and 2019, respectively, as discussed in Share Incentive Plan (Note 14). Distributions declared for Preferred OP Units are reflected in net income (loss) in the table above.

Noncontrolling interests in partially-owned affiliates comprise third-party interests in Funds II, III, IV and V, and Mervyns II, and five other subsidiaries.

Adjustment reflects the difference between the fair value of the consideration received or paid and the book value of the Common Shares, Common OP Units, Preferred OP Units, and LTIP Units involving changes in ownership.