Fair Value Measurements and Disclosures (Tables)

9 Months Ended

Sep. 30, 2018

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 September 30, 2018 and December 31, 2017:

	Fair Value (Level 1) (1)
	September 30, 2018		December 31, 2017
Description	(in thousands)
Marketable securities (2)	$	23,353	$	20,674

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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 and nine months ended September 30, 2018 and 2017:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Description	(in thousands)				(in thousands)
Net gain on marketable securities	$	271	$	536	$	289	$	1,719

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 September 30, 2018 and December 31, 2017:

	September 30, 2018				December 31, 2017
	Carrying Value		Fair Value (1)		Carrying Value		Fair Value (1)
	(in thousands)
Liabilities
Secured debt, net	$	336,866	$	331,313	$	340,800	$	346,858
Unsecured debt, net	2,207,049		2,173,366		2,006,263		2,077,199
Unsecured line of credit	330,000		330,221		—		—

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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.