Fair Value Measurements and Disclosures (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Fair value of the company's marketable securities

The following table sets forth the fair value of our marketable securities as of March 31, 2016 and December 31, 2015:

	Fair Value (Level 1) (1)
	March 31, 2016		December 31, 2015
Description	(in thousands)
Marketable securities (2)	$	13,418	$	12,882

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(1) Based on quoted prices in active markets for identical securities.

(2) The marketable securities are held in a limited rabbi trust.

Fair value adjustment of marketable securities and deferred compensation plan liability

The following table sets forth the net gain on marketable securities recorded during the three months ended March 31, 2016 and 2015:

	Three Months Ended March 31,
	2016		2015
Description	(in thousands)
Net gain on marketable securities	$	137	$	388

Carrying value and fair value of company's remaining financial assets and liabilities

The following table sets forth the carrying value and the fair value of our other financial instruments as of March 31, 2016 and December 31, 2015:

	March 31, 2016				December 31, 2015
	Carrying Value		Fair Value (1)		Carrying Value		Fair Value (1)
	(in thousands)
Liabilities
Secured debt, net	$	378,080	$	388,113	$	380,835	$	391,611
Unsecured debt, net	1,845,313		1,948,299		1,844,634		1,898,863
Unsecured line of credit	75,000		75,018		—		—

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(1) Fair value calculated using Level II inputs, which are based on model-derived valuations in which significant inputs and significant value drivers are observable in active markets.