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Fair Value Of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2016
Fair Value Disclosures [Abstract]  
Summary of carrying amount and fair value of financial instruments
Except as disclosed below, the carrying amount of our financial instruments approximates their fair value. The fair value of our mortgages payable, notes payable and senior notes and debentures is sensitive to fluctuations in interest rates. Quoted market prices (Level 1) were used to estimate the fair value of our marketable senior notes and debentures and discounted cash flow analysis (Level 2) is generally used to estimate the fair value of our mortgages and notes payable. Considerable judgment is necessary to estimate the fair value of financial instruments. The estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized upon disposition of the financial instruments. A summary of the carrying amount and fair value of our mortgages payable, notes payable and senior notes and debentures is as follows:

 
June 30, 2016
 
December 31, 2015
Carrying
Value
 
Fair Value
 
Carrying
Value
 
Fair Value
(In thousands)
Mortgages and notes payable
$
859,737

 
$
875,724

 
$
823,045

 
$
833,931

Senior notes and debentures
$
1,733,611

 
$
1,860,202

 
$
1,732,551

 
$
1,786,758

Summary of financial liabilities measured at fair value on a 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:
 
June 30, 2016
 
December 31, 2015
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(In thousands)
Interest rate swaps
$

 
$
7,293

 
$

 
$
7,293

 
$

 
$
4,110

 
$

 
$
4,110