Fair Value of Long-Term Debt

6 Months Ended

Apr. 30, 2024

Fair Value of Long-Term Debt [Abstract]

Fair value of long-term debt

Note 10 – Fair value of long-term debt:

The following table shows the estimated fair value and net carrying value of FREIT’s long-term debt at April 30, 2024 and October 31, 2023:

($ in Millions)	April 30, 2024	October 31, 2023
Fair Value	$123.8	$130.8
Carrying Value, Net	$128.7	$137.1

Fair values are estimated based on market interest rates at April 30, 2024 and October 31, 2023 and on a discounted cash flow analysis. Changes in assumptions or estimation methods may significantly affect these fair value estimates. The fair value is based on observable inputs (level 2 in the fair value hierarchy as provided by authoritative guidance).