Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.23.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 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 March 31, 2023:
Assets:
Interest rate swaps (prepaids and other assets) 10,923  —  10,923  — 
Liabilities:
Interest rate swaps (other liabilities) 230 —  230 — 

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:
Asset:
Interest rate swaps (prepaids and other assets) $ 14,118  $ —  $ 14,118  $ — 
Liabilities:
Interest rate swaps (other liabilities) $ —  $ —  $ —  $ — 
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):
March 31, 2023 December 31, 2022
Level 1 Quoted Prices in Active Markets for Identical Assets or Liabilities $ —  $ — 
Level 2 Significant Observable Inputs 877,279  876,542 
Level 3 Significant Unobservable Inputs 392,349  391,820 
Total fair value of debt $ 1,269,628  $ 1,268,362 
Recorded value of debt $ 1,427,941  $ 1,428,494