| 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):
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Fair Value
Measurements on
a Recurring Basis
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As of
December 31,
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Carrying and
Fair Value
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Level 1
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Level 2
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Financial assets:
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Available-for-sale securities:
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Equity securities
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2016
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$
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—
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$
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—
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$
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—
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2015
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32
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32
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—
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Derivative financial instruments:
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Interest rate swaps
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2016
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$
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1,257
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$
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—
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$
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1,257
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2015
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—
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—
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—
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Financial liabilities:
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Derivative financial instruments:
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Interest rate swaps
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2016
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$
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2,695
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$
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—
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$
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2,695
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2015
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4,299
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—
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4,299
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| 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):
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Year Ended December 31,
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2016
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2015
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2014
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One Liberty Properties Inc. and Consolidated Subsidiaries
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Amount of gain (loss) recognized on derivatives in Other comprehensive loss
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$
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255
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$
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(3,722
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)
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$
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(4,453
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)
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Amount of loss reclassification from Accumulated other comprehensive loss into Interest expense
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(2,624
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)
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(2,554
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)
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(1,810
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)
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Unconsolidated Joint Ventures (Company's share)
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Amount of loss recognized on derivatives in Other comprehensive loss
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$
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(31
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)
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$
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(109
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)
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$
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(32
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)
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Amount of loss reclassification from Accumulated other comprehensive loss into Equity in earnings of unconsolidated joint ventures
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(95
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)
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(108
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)
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(55
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)
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