Fair Value of Financial Assets and Liabilities Fair Value of Financial Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of estimated fair values of financial instruments

The estimated fair values of the Company’s financial instruments are as follows (in thousands):


	September 30, 2022				December 31, 2021
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Cash and cash equivalents	$	59,026	$	59,026	$	724,595	$	724,595
Investment in leases, financing receivables, net	1,875,895		1,891,635		1,201,670		1,213,896
Deferred compensation plan assets	25,473		25,473		34,549		34,549
Financial liabilities:
Long-term debt:
Credit Agreement	—		—		424,019		424,019
Senior Notes	6,175,000		5,508,238		6,175,000		6,645,574

Schedule of assets measured at fair value on a nonrecurring basis

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

As described in Note 6, the Company entered into an agreement to sell excess land for approximately $3.5 million, (that we have determined is a Level 2 input) which excess land had a carrying amount of $6.8 million and, as such, the Company recorded an impairment charge for the nine months ended September 30, 2022. There were no other assets or liabilities measured at fair value on a nonrecurring basis during the nine months ended September 30, 2022 and 2021.