Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.24.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2023
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 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) $ — 


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, 2022:
Assets:
Interest rate swaps (prepaids and other assets) 14,118  —  14,118  — 
Total assets $ 14,118  $ —  $ 14,118  $ — 
Liabilities:
Interest rate swaps (other liabilities) $ —  $ —  $ —  $ — 
Total liabilities $ —  $ —  $ —  $ — 
Fair Value Measurements, Nonrecurring
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 December 31, 2023:
Asset:
Long-lived assets $ —  $ —  $ —  $ — 
Fair value as of December 31, 2022:
Asset:
Long-lived assets $ —  $ —  $ —  $ — 
Fair value as of December 31, 2021:
Asset:
Long-lived assets
$ 29,460  $ —  $ —  $ 29,460 
Fair Value Measurement Inputs and Valuation Techniques
The table below summarizes the terminal capitalization rate and discount rate used:
December 31, 2021
Terminal capitalization rate
8.3
Discount rate
9.3
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The estimated fair value and recorded value of our debt as of December 31, 2023 and 2022 were as follows (in thousands):
2023 2022
Level 1 Quoted Prices in Active Markets for Identical Assets or Liabilities $ —  $ — 
Level 2 Significant Observable Inputs 918,091  876,542 
Level 3 Significant Unobservable Inputs 401,609  391,820 
Total fair value of debt $ 1,319,700  $ 1,268,362 
Recorded value of debt $ 1,439,203  $ 1,428,494