Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.20.2
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2020
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 September 30, 2020:
Assets:
Short-term government securities (cash and cash equivalents)
$ 20,626  $ 20,626  $ —  $ — 
Total assets $ 20,626  $ 20,626  $ —  $ — 
Liabilities:
Interest rate swaps (other liabilities) $ 5,134  $ —  $ 5,134  $ — 
Total liabilities $ 5,134  $ —  $ 5,134  $ — 
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, 2019:
Asset:
Interest rate swaps (prepaids and other assets) $ 1,018  $ —  $ 1,018  $ — 
Total assets $ 1,018  $ —  $ 1,018  $ — 
Liabilities:
Interest rate swaps (other liabilities) $ 1,442  $ —  $ 1,442  $ — 
Total liabilities $ 1,442  $ —  $ 1,442  $ — 
Fair Value Measurements on a Nonrecurring Basis
The following table sets forth our assets that are measured at fair value on a nonrecurring basis 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 March 31,2020:
Asset:
Long-lived assets $ 60,000  $ —  $ —  $ 60,000 
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):
September 30, 2020 December 31, 2019
Level 1 Quoted Prices in Active Markets for Identical Assets or Liabilities $ —  $ — 
Level 2 Significant Observable Inputs 1,133,864  1,169,481 
Level 3 Significant Unobservable Inputs 431,285  434,333 
Total fair value of debt $ 1,565,149  $ 1,603,814 
Recorded value of debt $ 1,568,217  $ 1,569,773