Fair Value Measurements and Disclosures (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2018 and 2017:

	Fair Value (Level 1) (1)
	2018		2017
Description	(in thousands)
Marketable securities (2)	$	21,779	$	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.

Net (loss) gain on marketable securities

The following table sets forth the net (loss) gain on marketable securities recorded during the years ended December 31, 2018, 2017 and 2016:

	December 31,
	2018			2017		2016
Description	(in thousands)
Net (loss) gain on marketable securities	$	(1,851	)	$	3,023	$	1,130

Carrying value and fair value of other financial instruments

The following table sets forth the carrying value and the fair value of our other financial instruments as of December 31, 2018 and 2017:

	December 31,
	2018				2017
	Carrying Value		Fair Value (1)		Carrying Value		Fair Value (1)
	(in thousands)
Liabilities
Secured debt, net	$	335,531	$	335,885	$	340,800	$	346,858
Unsecured debt, net	2,552,070		2,546,386		2,006,263		2,077,199
Unsecured line of credit (1)	45,000		45,058		—		—

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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.