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Organization and Basis of Presentation (Tables)
 3 Months Ended
Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Components of marketable securities
As of March 31, 2018 and December 31, 2017, marketable securities consist of the following ($ in thousands):

 
March 31, 2018
 
Amortized
Cost
 
Gross
Unrealized
Gain (Loss)
 
Carrying Value
Equity securities:
 
 
 
 
 
Investment funds - debt securities
$
26,946

 
$
(360
)
 
$
26,586

Investment funds - U.S. treasuries
11,250

 
(86
)
 
11,164

Common stock and stock funds
39,620

 
2,459

 
42,079

 
 
 
 
 
 
Debt securities:
 
 
 
 
 
Available for sale
 
 
 
 
 
Investment-grade unsecured bonds
4,324

 
(118
)
 
4,206

Held to maturity
 
 
 

 
 

Mortgage backed securities
113,710

 
—

 
113,710

Total - Marketable securities
$
195,850

 
$
1,895

 
$
197,745


 
December 31, 2017
 
Amortized
Cost
 
Gross
Unrealized
Gain (Loss)
 
Carrying Value
Equity securities:
 
 
 
 
 
Investment funds - debt securities
$
27,914

 
$
(29
)
 
$
27,885

Investment funds - U.S. treasuries
10,999

 
(55
)
 
10,944

Common stock and stock funds
34,329

 
2,973

 
37,302

 
 
 
 
 


Debt securities:
 
 
 
 
 
Available for sale
 
 
 
 
 
Investment-grade unsecured bonds
4,365

 
(40
)
 
4,325

Held to maturity
 

 
 

 
 

Mortgage backed securities
109,548

 
—

 
109,548

Total - Marketable securities
$
187,155

 
$
2,849

 
$
190,004
Changes in accumulated other comprehensive income (loss)
Changes in Accumulated Other Comprehensive Loss, Net by Component

Essex Property Trust, Inc.
($ in thousands):
 
Change in fair
value and amortization
of swap settlements
 
Unrealized
gains/(losses) on
available for sale securities
 
Total
Balance at December 31, 2017
$
(20,641
)
 
$
2,195

 
$
(18,446
)
Cumulative effect upon adoption of ASU 2016-01
—

 
(2,234
)
 
(2,234
)
Other comprehensive income before reclassification
8,031

 
(74
)
 
7,957

Amounts reclassified from accumulated other comprehensive loss
(1,985
)
 
(1
)
 
(1,986
)
Other comprehensive income
6,046

 
(2,309
)
 
3,737

Balance at March 31, 2018
$
(14,595
)
 
$
(114
)
 
$
(14,709
)

Changes in Accumulated Other Comprehensive Loss, by Component

Essex Portfolio, L.P.
($ in thousands):
 
Change in fair
value and amortization
of swap settlements
 
Unrealized
gains/(losses) on
available for sale securities
 
Total
Balance at December 31, 2017
$
(17,417
)
 
$
2,188

 
$
(15,229
)
Cumulative effect upon adoption of ASU 2016-01
—

 
(2,228
)
 
(2,228
)
Other comprehensive income before reclassification
8,307

 
(77
)
 
8,230

Amounts reclassified from accumulated other comprehensive loss
(2,053
)
 
(1
)
 
(2,054
)
Other comprehensive income
6,254

 
(2,306
)
 
3,948

Balance at March 31, 2018
$
(11,163
)
 
$
(118
)
 
$
(11,281
)
Schedule of changes to the redemption value of noncontrolling interests
The changes to the redemption value of redeemable noncontrolling interests for the three months ended March 31, 2018 is as follows ($ in thousands):
Balance at December 31, 2017
$
39,206

Reclassification due to change in redemption value and other
1,953

Redemptions
—

Balance at March 31, 2018
$
41,159
Schedule of cash and cash equivalents
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows ($ in thousands):
 
March 31, 2018
 
December 31, 2017
 
March 31, 2017
 
December 31, 2016
Cash and cash equivalents - unrestricted
$
121,954

 
$
44,620

 
$
84,344

 
$
64,921

Cash and cash equivalents - restricted
17,124

 
16,506

 
15,908

 
105,381

Total unrestricted and restricted cash and cash equivalents shown in the condensed consolidated statement of cash flows
$
139,078

 
$
61,126

 
$
100,252

 
$
170,302
Schedule of restricted cash and cash equivalents
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows ($ in thousands):
 
March 31, 2018
 
December 31, 2017
 
March 31, 2017
 
December 31, 2016
Cash and cash equivalents - unrestricted
$
121,954

 
$
44,620

 
$
84,344

 
$
64,921

Cash and cash equivalents - restricted
17,124

 
16,506

 
15,908

 
105,381

Total unrestricted and restricted cash and cash equivalents shown in the condensed consolidated statement of cash flows
$
139,078

 
$
61,126

 
$
100,252

 
$
170,302