Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.19.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table sets forth our assets and liabilities that are measured at fair value within the fair value hierarchy (in thousands):
 
 
 
 
Level 1
 
Level 2
 
Level 3
 
 
 
 
Quoted Prices in Active Markets for Identical Assets or Liabilities
 
Significant Observable Inputs
 
Significant Unobservable Inputs
 
 
Total
 
 
 
Fair value as of June 30, 2019:
 
 
 
 
 
 
 
 
Asset:
 
 
 
 
 
 
 
 
Interest rate swaps (prepaids and other assets)
 
$
1,842

 
$

 
$
1,842

 
$

Total assets
 
$
1,842

 
$

 
$
1,842

 
$

 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
Interest rate swaps (other liabilities)
 
$
1,658

 
$

 
$
1,658

 
$

Total liabilities
 
$
1,658

 
$

 
$
1,658

 
$


 
 
 
 
Level 1
 
Level 2
 
Level 3
 
 
 
 
Quoted Prices in Active Markets for Identical Assets or Liabilities
 
Significant Observable Inputs
 
Significant Unobservable Inputs
 
 
Total
 
 
 
Fair value as of December 31, 2018:
 
 
 
 
 
 
 
 
Asset:
 
 
 
 
 
 
 
 
Interest rate swaps (prepaids and other assets)
 
$
5,755

 
$

 
$
5,755

 
$

Total assets
 
$
5,755

 
$

 
$
5,755

 
$

 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
Interest rate swaps (other liabilities)
 
$
6

 
$

 
$
6

 
$

Total liabilities
 
$
6

 
$

 
$
6

 
$


Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The estimated fair value within the fair value hierarchy and recorded value of our debt consisting of senior unsecured notes, unsecured term loans, secured mortgages and unsecured lines of credit were as follows (in thousands):
 
 
June 30, 2019
 
December 31, 2018
Level 1 Quoted Prices in Active Markets for Identical Assets or Liabilities
 
$

 
$

Level 2 Significant Observable Inputs
 
1,139,946

 
1,085,138

Level 3 Significant Unobservable Inputs
 
454,808

 
583,337

Total fair value of debt
 
$
1,594,754

 
$
1,668,475

 
 
 
 
 
Recorded value of debt
 
$
1,586,309

 
$
1,712,918