Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.24.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2024
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, 2024:
Assets:
Interest rate swaps (prepaids and other assets) $ 497  —  $ 497  $ — 
Total assets $ 497  $ —  $ 497  $ — 
Liabilities:
Interest rate swaps (other liabilities) $ (3,722) $ —  $ (3,722) $ — 
Total liabilities $ (3,722) $ —  $ (3,722) $ — 

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, 2023:
Asset:
Interest rate swaps (prepaids and other assets) $ 2,708  $ —  $ 2,708  $ — 
Total assets $ 2,708  $ —  $ 2,708  $ — 
Liabilities:
Interest rate swaps (other liabilities) $ (3,018) $ —  $ (3,018) $ — 
Total liabilities $ (3,018) $ —  $ (3,018) $ — 
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, 2024 December 31, 2023
Level 1 Quoted Prices in Active Markets for Identical Assets or Liabilities $ —  $ — 
Level 2 Significant Observable Inputs 978,398  918,091 
Level 3 Significant Unobservable Inputs 384,801  401,609 
Total fair value of debt $ 1,363,199  $ 1,319,700 
Recorded value of debt $ 1,424,393  $ 1,439,203