Fair Value Measurements and Disclosures (Tables)

6 Months Ended

Jun. 30, 2019

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 June 30, 2019 and December 31, 2018:

	Fair Value (Level 1) (1)
	June 30, 2019		December 31, 2018
Description	(in thousands)
Marketable securities (2)	$	25,203	$	21,779

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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 gain (loss) on marketable securities

The following table sets forth the net gain (loss) on marketable securities recorded during the three and six months ended June 30, 2019 and 2018:

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Description	(in thousands)				(in thousands)
Net gain on marketable securities	$	544	$	422	$	2,225	$	18

Carrying value and fair value of company's remaining financial instruments

The following table sets forth the carrying value and the fair value of our other financial instruments as of June 30, 2019 and December 31, 2018:

	June 30, 2019				December 31, 2018
	Carrying Value		Fair Value (1)		Carrying Value		Fair Value (1)
	(in thousands)
Liabilities
Secured debt, net	$	259,455	$	271,536	$	335,531	$	335,885
Unsecured debt, net	$	2,553,651	$	2,702,274	$	2,552,070	$	2,546,386
Unsecured line of credit	$	375,000	$	375,508	$	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.