ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

17. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table details the components of accumulated other comprehensive income (loss) of the Parent Company and the Operating Partnership as of and for the three years ended December 31, 2019 (in thousands):

Parent Company	Cash Flow Hedges
Balance at January 1, 2017	$	(1,745	)
Change in fair market value during year	2,948
Allocation of unrealized (gains)/losses on derivative financial instruments to noncontrolling interests	(34		)
Amortization of interest rate contracts reclassified from comprehensive income to interest expense	1,230
Balance at December 31, 2017	$	2,399
Change in fair market value during year	1,478
Allocation of unrealized (gains)/losses on derivative financial instruments to noncontrolling interests	(39		)
Amortization of interest rate contracts reclassified from comprehensive income to interest expense	1,191
Balance at December 31, 2018	$	5,029
Change in fair market value during year	(8,210		)
Allocation of unrealized (gains)/losses on derivative financial instruments to noncontrolling interests	41
Amortization of interest rate contracts reclassified from comprehensive income to interest expense	770
Balance at December 31, 2019	$	(2,370	)

Operating Partnership	Cash Flow Hedges
Balance at January 1, 2017	$	(2,122	)
Change in fair market value during year	2,948
Amortization of interest rate contracts reclassified from comprehensive income to interest expense	1,230
Balance at December 31, 2017	$	2,056
Change in fair market value during year	1,478
Amortization of interest rate contracts reclassified from comprehensive income to interest expense	1,191
Balance at December 31, 2018	$	4,725
Change in fair market value during year	(8,210		)
Amortization of interest rate contracts reclassified from comprehensive income to interest expense	770
Balance at December 31, 2019	$	(2,715	)

Over time, the unrealized gains and losses held in Accumulated Other Comprehensive Income (“AOCI”) will be reclassified to interest expense when the related hedged items are recognized in earnings. The current balance held in AOCI is expected to be reclassified to interest expense for realized losses on forecasted debt transactions over the related term of the debt obligation, as applicable. The Company expects to reclassify $0.8 million from AOCI into interest expense within the next twelve months.