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Organization and Basis of Presentation (Tables) | 9 Months Ended
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Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Components of Marketable Securities | As of September 30, 2021 and December 31, 2020, marketable securities consisted of the following ($ in thousands):
| September 30, 2021
| Cost |  | Gross Unrealized Gain (Loss) |  | Carrying Value |  |
Equity securities: |  |  |  |  |  |  |
Investment funds - debt securities | $ | 61,885 |  |  | $ | 24 |  |  | $ | 61,909 |  |  |
Common stock and stock funds | 80,079 |  |  | 39,734 |  |  | 119,813 |  |  |
Debt securities: |  |  |  |  |  |  |
Available for sale |  |  |  |  |  |  |
Investment-grade unsecured debt | 1,050 |  |  | 368 |  |  | 1,418 |  |  |
Total - Marketable securities | $ | 143,014 |  |  | $ | 40,126 |  |  | $ | 183,140 |  |  |
| December 31, 2020
| Cost |  | Gross Unrealized Gain (Loss) |  | Carrying Value |  |  |  |
Equity securities: |  |  |  |  |  |  |  |  |
Investment funds - debt securities | $ | 49,646 |  |  | $ | 985 |  |  | $ | 50,631 |  |  |  |  |
Common stock and stock funds | 81,074 |  |  | 15,001 |  |  | 96,075 |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |
Available for sale |  |  |  |  |  |  |  |  |
Investment-grade unsecured debt | 1,050 |  |  | 12 |  |  | 1,062 |  |  |  |  |
Total - Marketable securities | $ | 131,770 |  |  | $ | 15,998 |  |  | $ | 147,768 |  |  |  |  |
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 gain on available for sale securities |  | Total
Balance at December 31, 2020 | $ | (14,771) |  |  | $ | 42 |  |  | $ | (14,729) |
Other comprehensive income before reclassification | 5,406 |  |  | 344 |  |  | 5,750 |
Amounts reclassified from accumulated other comprehensive loss | 11 |  |  | — |  |  | 11 |
Other comprehensive income | 5,417 |  |  | 344 |  |  | 5,761 |
Balance at September 30, 2021 | $ | (9,354) |  |  | $ | 386 |  |  | $ | (8,968) |
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, 2020 | $ | (11,346) |  |  | $ | 43 |  |  | $ | (11,303) |
Other comprehensive income before reclassification | 5,595 |  |  | 356 |  |  | 5,951 |
Amounts reclassified from accumulated other comprehensive loss | 12 |  |  | — |  |  | 12 |
Other comprehensive income | 5,607 |  |  | 356 |  |  | 5,963 |
Balance at September 30, 2021 | $ | (5,739) |  |  | $ | 399 |  |  | $ | (5,340) |
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, 2021 is as follows ($ in thousands):
Balance at December 31, 2020 | $ | 32,239 |
Reclassification due to change in redemption value and other | 4,922 |
Redemptions | (4,463) |
Balance at September 30, 2021 | $ | 32,698 |
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, 2021 |  | December 31, 2020 |  | September 30, 2020 |  | December 31, 2019
Cash and cash equivalents - unrestricted | $ | 49,910 |  |  | $ | 73,629 |  |  | $ | 558,446 |  |  | $ | 70,087 |
Cash and cash equivalents - restricted | 11,042 |  |  | 10,412 |  |  | 10,629 |  |  | 11,007 |
Total unrestricted and restricted cash and cash equivalents shown in the condensed consolidated statement of cash flows | $ | 60,952 |  |  | $ | 84,041 |  |  | $ | 569,075 |  |  | $ | 81,094 |
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, 2021 |  | December 31, 2020 |  | September 30, 2020 |  | December 31, 2019
Cash and cash equivalents - unrestricted | $ | 49,910 |  |  | $ | 73,629 |  |  | $ | 558,446 |  |  | $ | 70,087 |
Cash and cash equivalents - restricted | 11,042 |  |  | 10,412 |  |  | 10,629 |  |  | 11,007 |
Total unrestricted and restricted cash and cash equivalents shown in the condensed consolidated statement of cash flows | $ | 60,952 |  |  | $ | 84,041 |  |  | $ | 569,075 |  |  | $ | 81,094 |

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