Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.22.2.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
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, 2022:
Assets:
Short-term government securities (cash and cash equivalents)
$ 185,803  $ 185,803  $ —  $ — 
Interest rate swaps (prepaids and other assets) 11,965  —  11,965  — 
Total assets $ 197,768  $ 185,803  $ 11,965  $ — 
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, 2021:
Asset:
Short-term government securities (cash and cash equivalents)
$ 158,197  $ 158,197  $ —  $ — 
Interest rate swaps (prepaids and other assets) $ 2,485  $ —  $ 2,485  $ — 
Total assets $ 160,682  $ 158,197  $ 2,485  $ — 
Liabilities:
Interest rate swaps (other liabilities) $ 459  $ —  $ 459  $ — 
Total liabilities $ 459  $ —  $ 459  $ — 
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, 2022 December 31, 2021
Level 1 Quoted Prices in Active Markets for Identical Assets or Liabilities $ —  $ — 
Level 2 Significant Observable Inputs 911,714  1,079,234 
Level 3 Significant Unobservable Inputs 360,442  366,103 
Total fair value of debt $ 1,272,156  $ 1,445,337 
Recorded value of debt $ 1,396,015  $ 1,397,076