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Fair Value Measurements and Disclosures (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Fair Value of the Company's Marketable Securities

The following table sets forth the fair value of our marketable securities as of March 31, 2023 and December 31, 2022:


	Fair Value (Level 1) (1)
	March 31, 2023		December 31, 2022
Description	(in thousands)
Marketable securities (2)	$	23,288	$	23,547

________________________

(1) Based on quoted prices in active markets for identical securities.

(2) The marketable securities are held in a limited rabbi trust.

Schedule of 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 March 31, 2023 and December 31, 2022:


	March 31, 2023				December 31, 2022
	Carrying Value		Fair Value (1)		Carrying Value		Fair Value (1)
	(in thousands)
Liabilities
Secured debt, net	$	241,547	$	229,667	$	242,938	$	225,847
Unsecured debt, net	$	4,171,029	$	3,414,708	$	4,020,058	$	3,500,420

________________________

(1)Fair value calculated using Level 2 inputs, which are based on model-derived valuations in which significant inputs and significant value drivers are observable in active markets.

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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