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Organization and Basis of Presentation (Tables)
 6 Months Ended
Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Components of marketable securities
As of June 30, 2018 and December 31, 2017, marketable securities consist of the following ($ in thousands):

 
June 30, 2018
 
Amortized
Cost
 
Gross
Unrealized
Gain (Loss)
 
Carrying Value
Equity securities:
 
 
 
 
 
Investment funds - debt securities
$
31,852

 
$
(371
)
 
$
31,481

Investment funds - U.S. treasuries
11,250

 
(85
)
 
11,165

Common stock and stock funds
39,680

 
2,591

 
42,271

 
 
 
 
 
 
Debt securities:
 
 
 
 
 
Available for sale
 
 
 
 
 
Investment-grade unsecured bonds
4,379

 
(137
)
 
4,242

Held to maturity
 
 
 

 
 

Mortgage backed securities
118,032

 
—

 
118,032

Total - Marketable securities
$
205,193

 
$
1,998

 
$
207,191


 
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
13,263

 
(95
)
 
13,168

Amounts reclassified from accumulated other comprehensive loss
(3,928
)
 
2

 
(3,926
)
Other comprehensive income
9,335

 
(2,327
)
 
7,008

Balance at June 30, 2018
$
(11,306
)
 
$
(132
)
 
$
(11,438
)

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
13,719

 
(99
)
 
13,620

Amounts reclassified from accumulated other comprehensive loss
(4,063
)
 
2

 
(4,061
)
Other comprehensive income
9,656

 
(2,325
)
 
7,331

Balance at June 30, 2018
$
(7,761
)
 
$
(137
)
 
$
(7,898
)
Schedule of changes to the redemption value of noncontrolling interests
The changes to the redemption value of redeemable noncontrolling interests for the six months ended June 30, 2018 is as follows ($ in thousands):
Balance at December 31, 2017
$
39,206

Reclassification due to change in redemption value and other
1,845

Redemptions
(4,794
)
Balance at June 30, 2018
$
36,257
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):
 
June 30, 2018
 
December 31, 2017
 
June 30, 2017
 
December 31, 2016
Cash and cash equivalents - unrestricted
$
160,902

 
$
44,620

 
$
183,885

 
$
64,921

Cash and cash equivalents - restricted
16,674

 
16,506

 
15,991

 
105,381

Total unrestricted and restricted cash and cash equivalents shown in the condensed consolidated statement of cash flows
$
177,576

 
$
61,126

 
$
199,876

 
$
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):
 
June 30, 2018
 
December 31, 2017
 
June 30, 2017
 
December 31, 2016
Cash and cash equivalents - unrestricted
$
160,902

 
$
44,620

 
$
183,885

 
$
64,921

Cash and cash equivalents - restricted
16,674

 
16,506

 
15,991

 
105,381

Total unrestricted and restricted cash and cash equivalents shown in the condensed consolidated statement of cash flows
$
177,576

 
$
61,126

 
$
199,876

 
$
170,302