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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2018
Fair Value Measurements |
Schedule of derivative financial instruments measured at fair value, using Level 2 inputs | The fair value of the Company’s derivative financial instruments, using Level 2 inputs, was determined to be the following (amounts in thousands):
|  |  |  | Carrying and |
|  | As of |  | Fair Value |
Financial assets: |  |  |  |  |  |
Interest rate swaps |  | March 31, 2018 |  | $ | 3,201 |
|  | December 31, 2017 |  |  | 1,615 |
Financial liabilities: |  |  |  |  |  |
Interest rate swaps |  | March 31, 2018 |  | $ | 383 |
|  | December 31, 2017 |  |  | 1,492 |
Schedule of effect of derivative financial instruments on statements of income | The following table presents the effect of the Company’s derivative financial instruments on the consolidated statements of income for the periods presented (amounts in thousands):
|  | Three Months Ended March 31, |
|  | 2018 |  | 2017 |
One Liberty Properties, Inc. and Consolidated subsidiaries |  |  |  |  |
Amount of gain recognized on derivatives in Other Comprehensive income |  | $ | 2,500 |  | $ | 69 |
Amount of reclassification from Accumulated other comprehensive income into Interest expense |  | (196 | ) | (509 | )
Unconsolidated Joint Ventures (Company’s share) |  |  |  |  |
Amount of gain recognized on derivatives in Other Comprehensive income |  | $ | 46 |  | $ | 9 |
Amount of reclassification from Accumulated other comprehensive income into Equity in earnings of unconsolidated joint ventures |  | (8 | ) | (19 | )

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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 4C -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959 Reference 2: 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=64837297&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: 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=66048111&loc=d3e19190-110258 + Details
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