Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Financial liabilities measured at fair value on recurring basis

A summary of our financial liabilities that are measured at fair value on a recurring basis by level within the fair value hierarchy is as follows (in thousands):



	December 31, 2019								December 31, 2018
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Deferred compensation liability	$	—	$	1,669	$	—	$	1,669	$	—	$	1,424	$	—	$	1,424
Interest rate swap asset	$	—	$	434	$	—	$	434	$	—	$	6,002	$	—	$	6,002
Interest rate swap liability	$	—	$	1,317	$	—	$	1,317	$	—	$	801	$	—	$	801

Carrying amount and fair value of financial instruments

A summary of the carrying amount and fair value of our financial instruments, all of which are based on Level 2 inputs, is as follows (in thousands):



	December 31, 2019				December 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Secured notes payable	$	161,879	$	166,885	$	182,572	$	183,253
Unsecured term loan	$	248,864	$	250,000	$	248,765	$	250,000
Unsecured senior guaranteed notes	$	946,916	$	975,291	$	797,098	$	790,267
Unsecured line of credit	$	—	$	—	$	62,337	$	64,000