Organization and Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Components of Marketable Securities

As of June 30, 2022 and December 31, 2021, marketable securities consisted of the following ($ in thousands):

	June 30, 2022
	Cost		Gross Unrealized (Loss) Gain		Carrying Value
Equity securities:
Investment funds - debt securities	$	63,409	$	(8,747)	$	54,662
Common stock and stock funds	86,767		11,396		98,163
Debt securities:
Available for sale
Investment-grade unsecured debt	1,051		637		1,688
Total - Marketable securities	$	151,227	$	3,286	$	154,513

	December 31, 2021
	Cost		Gross Unrealized (Loss) Gain		Carrying Value
Equity securities:
Investment funds - debt securities	$	62,192	$	(502)	$	61,690
Common stock and stock funds	79,155		49,592		128,747
Debt securities:
Available for sale
Investment-grade unsecured debt	1,051		341		1,392
Total - Marketable securities	$	142,398	$	49,431	$	191,829

Changes in Accumulated Other Comprehensive Income (Loss), Net by Component

Changes in Accumulated Other Comprehensive Income (Loss), Net by Component

Essex Property Trust, Inc.

($ in thousands):

	Change in fair value and amortization of swap settlements		Unrealized gain on available for sale securities		Total
Balance at December 31, 2021	$	(5,912)	$	360	$	(5,552)
Other comprehensive income before reclassification	30,810		286		31,096
Amounts reclassified from accumulated other comprehensive loss	10		—		10
Other comprehensive income	30,820		286		31,106
Balance at June 30, 2022	$	24,908	$	646	$	25,554

Essex Portfolio, L.P.

($ in thousands):

	Change in fair value and amortization of swap settlements		Unrealized gain on available for sale securities		Total
Balance at December 31, 2021	$	(2,176)	$	372	$	(1,804)
Other comprehensive income before reclassification	31,885		296		32,181
Amounts reclassified from accumulated other comprehensive loss	10		—		10
Other comprehensive income	31,895		296		32,191
Balance at June 30, 2022	$	29,719	$	668	$	30,387

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, 2022 is as follows ($ in thousands):

Balance at December 31, 2021	$	34,666
Reclassification due to change in redemption value and other	(1,223)
Redemptions	(230)
Balance at June 30, 2022	$	33,213

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, 2022		December 31, 2021		June 30, 2021		December 31, 2020
Cash and cash equivalents - unrestricted	$	37,756	$	48,420	$	48,155	$	73,629
Cash and cash equivalents - restricted	10,707		10,218		10,021		10,412
Total unrestricted and restricted cash and cash equivalents shown in the condensed consolidated statement of cash flows	$	48,463	$	58,638	$	58,176	$	84,041

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, 2022		December 31, 2021		June 30, 2021		December 31, 2020
Cash and cash equivalents - unrestricted	$	37,756	$	48,420	$	48,155	$	73,629
Cash and cash equivalents - restricted	10,707		10,218		10,021		10,412
Total unrestricted and restricted cash and cash equivalents shown in the condensed consolidated statement of cash flows	$	48,463	$	58,638	$	58,176	$	84,041