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Organization and Basis of Presentation (Tables)
 9 Months Ended
Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Components of marketable securities
As of September 30, 2018 and December 31, 2017, marketable securities consist of the following ($ in thousands):
 
September 30, 2018
 
Amortized
Cost
 
Gross
Unrealized
Gain (Loss)
 
Carrying Value
Equity securities:
 
 
 
 
 
Investment funds - debt securities
$
31,914

 
$
(430
)
 
$
31,484

Investment funds - U.S. treasuries
8,929

 
(90
)
 
8,839

Common stock and stock funds
39,755

 
3,835

 
43,590

 
 
 
 
 
 
Debt securities:
 
 
 
 
 
Available for sale
 
 
 
 
 
Investment-grade unsecured bonds
4,281

 
(121
)
 
4,160

Held to maturity
 
 
 

 
 

Mortgage backed securities
122,523

 
—

 
122,523

Total - Marketable securities
$
207,402

 
$
3,194

 
$
210,596


 
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 No. 2016-01
—

 
(2,234
)
 
(2,234
)
Other comprehensive income before reclassification
18,075

 
(84
)
 
17,991

Amounts reclassified from accumulated other comprehensive loss
(5,865
)
 
6

 
(5,859
)
Other comprehensive income
12,210

 
(2,312
)
 
9,898

Balance at September 30, 2018
$
(8,431
)
 
$
(117
)
 
$
(8,548
)
















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 No. 2016-01
—

 
(2,228
)
 
(2,228
)
Other comprehensive income before reclassification
18,697

 
(87
)
 
18,610

Amounts reclassified from accumulated other comprehensive loss
(6,067
)
 
6

 
(6,061
)
Other comprehensive income
12,630

 
(2,309
)
 
10,321

Balance at September 30, 2018
$
(4,787
)
 
$
(121
)
 
$
(4,908
)
Schedule of changes to the redemption value of noncontrolling interests
The changes to the redemption value of redeemable noncontrolling interests for the nine months ended September 30, 2018 is as follows ($ in thousands):
Balance at December 31, 2017
$
39,206

Reclassification due to change in redemption value and other
2,253

Redemptions
(4,794
)
Balance at September 30, 2018
$
36,665
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):
 
September 30, 2018
 
December 31, 2017
 
September 30, 2017
 
December 31, 2016
Cash and cash equivalents - unrestricted
$
157,279

 
$
44,620

 
$
46,507

 
$
64,921

Cash and cash equivalents - restricted
17,347

 
16,506

 
16,766

 
105,381

Total unrestricted and restricted cash and cash equivalents shown in the condensed consolidated statement of cash flows
$
174,626

 
$
61,126

 
$
63,273

 
$
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):
 
September 30, 2018
 
December 31, 2017
 
September 30, 2017
 
December 31, 2016
Cash and cash equivalents - unrestricted
$
157,279

 
$
44,620

 
$
46,507

 
$
64,921

Cash and cash equivalents - restricted
17,347

 
16,506

 
16,766

 
105,381

Total unrestricted and restricted cash and cash equivalents shown in the condensed consolidated statement of cash flows
$
174,626

 
$
61,126

 
$
63,273

 
$
170,302