Fair Value Measurements and Disclosures (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021 and 2020:

	Fair Value (Level 1) (1)
	2021		2020
Description	(in thousands)
Marketable securities (2)	$	27,475	$	27,481

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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 gain on marketable securities recorded during the years ended December 31, 2021, 2020 and 2019:

	December 31,
	2021		2020		2019
Description	(in thousands)
Net gain on marketable securities	$	3,612	$	2,864	$	3,885

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, 2021 and 2020: 

	December 31,
	2021				2020
	Carrying Value		Fair Value (1)		Carrying Value		Fair Value (1)
	(in thousands)
Liabilities
Secured debt, net	$	248,367	$	269,687	$	253,582	$	282,559
Unsecured debt, net	3,820,383		4,105,408		3,670,099		4,089,339

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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.