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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2014
Fair Value Measurements |
Schedule of available-for-sale securities and derivative financial instruments measured at fair value | The fair value of the Company’s available-for-sale securities and derivative financial instruments was determined using the following inputs (amounts in thousands):
|  |  |  |  |  | Fair Value Measurements |
|  |  |  | Carrying and |  | on a Recurring Basis |
|  | As of |  | Fair Value |  | Level 1 |  | Level 2 |
Financial assets: |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |
Equity securities |  | September 30, 2014 |  | $ | 24 |  | $ | 24 |  | $ | — |
|  | December 31, 2013 |  | 282 |  | 282 |  | — |
Derivative financial instruments: |  |  |  |  |  |  |  |  |
Interest rate swaps |  | September 30, 2014 |  | 134 |  | — |  | 134 |
|  | December 31, 2013 |  | 265 |  | — |  | 265 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Derivative financial instruments: |  |  |  |  |  |  |  |  |
Interest rate swaps |  | September 30, 2014 |  | 2,062 |  | — |  | 2,062 |
|  | December 31, 2013 |  | 774 |  | — |  | 774 |
Schedule of effect of derivative financial instruments on consolidated statement of income | The following table presents the effect of the Company’s derivative financial instruments on the consolidated statement of income for the periods presented (amounts in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2014 |  | 2013 |  | 2014 |  | 2013 |
One Liberty Properties and Consolidated Subsidiaries |  |  |  |  |  |  |  |  |
Amount of loss recognized on derivatives in Other comprehensive loss |  | $ | (357 | ) | $ | (972 | ) | $ | (2,765 | ) | $ | (372 | )
Amount of loss reclassification from Accumulated other comprehensive loss into Interest expense |  | (476 | ) | (284 | ) | (1,300 | ) | (592 | )
Unconsolidated Joint Ventures (Company’s share) |  |  |  |  |  |  |  |  |
Amount of gain (loss) recognized on derivative in Other comprehensive loss |  | $ | 11 |  | $ | (15 | ) | $ | (37 | ) | $ | 18 |
Amount of loss reclassification from Accumulated other comprehensive loss into Equity in earnings of unconsolidated joint ventures |  | (28 | ) | (14 | ) | (83 | ) | (42 | )

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a,b,bb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=36462937&loc=SL7498348-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5618551-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959 + Details
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