Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value, Assets Measured on Recurring Basis

The following table sets forth the fair values and methods used for measuring the fair values of financial instruments on a recurring basis:

Fair Value

Financial Instrument

Hierarchy

June 30,
2021

December 31,
2020

(Dollars in thousands)

Mortgage loans held-for-sale, net

Level 2

186,086

232,556

Gain on Securities

The following table reconciles the net gain (loss) recognized during the three and six months ended June 30, 2021 and 2020 on equity securities to the unrealized gain recognized during the periods on equity securities still held at the reporting date.


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020

	(Dollars in thousands)
Net gain (loss) recognized during the period on equity securities	$	—	$	4,983	$	—	$	(8,285)
Less: Net gain (loss) recognized during the period on equity securities sold during the period	—		4,983		—		(8,285)
Unrealized gain (loss) loss recognized during the reporting period on equity securities still held at the reporting date	$	—	$	—	$	—	$	—

Fair Value of Senior Notes

The estimated values of the senior notes in the following table are based on Level 2 inputs, which primarily reflect estimated prices for our senior notes that were provided by multiple sources.


	June 30, 2021				December 31, 2020
	Carrying Amount		Fair Value		Carrying Amount		Fair Value

	(Dollars in thousands)
$250 million 5.500% Senior Notes due January 2024, net	$	249,352	$	274,650	$	249,233	$	275,463
$300 million 3.850% Senior Notes due January 2030, net	297,577		322,725		297,458		331,384
$350 million 2.500% Senior Notes due January 2031, net	346,985		326,522		—		—
$500 million 6.000% Senior Notes due January 2043, net	490,800		639,003		490,700		667,288
Total	$	1,384,714	$	1,562,900	$	1,037,391	$	1,274,135