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Fair Value Measurements and Disclosures (Tables)
6 Months Ended
Jun. 30, 2020
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, 2020 and December 31, 2019:

 
Fair Value (Level 1) (1)
 
June 30, 2020
 
December 31, 2019
Description
(in thousands)
Marketable securities (2)
$
23,175

 
$
27,098

________________________
(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, 2020 and 2019:

 
Three Months Ended June 30,
 
Six Months Ended June 30,

2020
 
2019
 
2020
 
2019
Description
(in thousands)
 
(in thousands)
Net gain (loss) on marketable securities
$
2,662

 
$
544

 
$
(564
)
 
$
2,225


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, 2020 and December 31, 2019:

 
June 30, 2020
 
December 31, 2019
 
Carrying
Value
 
Fair
Value
(1)
 
Carrying
Value
 
Fair
Value
 (1)
 
(in thousands)
Liabilities
 
 
 
 
 
 
 
Secured debt, net
$
256,113

 
$
269,707

 
$
258,593

 
$
272,997

Unsecured debt, net
$
3,399,105

 
$
3,591,247

 
$
3,049,185

 
$
3,252,217

Unsecured line of credit
$

 
$

 
$
245,000

 
$
245,195

________________________
(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.