Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2017

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

16. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table details the components of accumulated other comprehensive income (loss) of the Parent Company and the Operating Partnership as of and for the three years ended December 31, 2017 (in thousands):

Parent Company	Cash Flow Hedges
Balance at January 1, 2015	$	(4,607	)
Change in fair market value during year		(1,010	)
Allocation of unrealized (gains)/losses on derivative financial instruments to noncontrolling interests		5
Reclassification adjustments for (gains)/losses reclassified into operations		420
Balance at December 31, 2015	$	(5,192	)
Change in fair market value during year		2,371
Allocation of unrealized (gains)/losses on derivative financial instruments to noncontrolling interests		(28	)
Reclassification adjustments for (gains)/losses reclassified into operations		1,104
Balance at December 31, 2016	$	(1,745	)
Change in fair market value during year		2,948
Allocation of unrealized (gains)/losses on derivative financial instruments to noncontrolling interests		(34	)
Reclassification adjustments for (gains)/losses reclassified into operations		1,230
Balance at December 31, 2017	$	2,399

Operating Partnership	Cash Flow Hedges
Balance at January 1, 2015	$	(5,007	)
Change in fair market value during year		(1,010	)
Reclassification adjustments for (gains)/losses reclassified into operations		420
Balance at December 31, 2015	$	(5,597	)
Change in fair market value during year		2,371
Reclassification adjustments for (gains)/losses reclassified into operations		1,104
Balance at December 31, 2016	$	(2,122	)
Change in fair market value during year		2,948
Reclassification adjustments for (gains)/losses reclassified into operations		1,230
Balance at December 31, 2017	$	2,056

Over time, the unrealized gains and losses held in Accumulated Other Comprehensive Income (“AOCI”) will be reclassified to interest expense when the related hedged items are recognized in earnings. The current balance held in AOCI is expected to be reclassified to interest expense for realized losses on forecasted debt transactions over the related term of the debt obligation, as applicable.  The Company expects to reclassify $0.8 million from AOCI into interest expense within the next twelve months.