Fair Value of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value of Assets and Liabilities

Schedule of certain of the entity's assets carried at fair value, categorized by the level of inputs used in the valuation of each asset

			Fair Value at June 30, 2016 Using
			Quoted Prices in
			Active Markets for		Significant Other		Significant
	Carrying Value at		Identical Assets		Observable Inputs		Unobservable Inputs
Description	June 30, 2016		(Level 1)		(Level 2)		(Level 3)
Investment in TA(1)	$	27,907	$	27,907	$	-	$	-
Investment in RMR Inc.(2)	$	77,542	$	77,542	$	-	$	-

(1) Our 3,420,000 common shares of TA, which are included in other assets in our condensed consolidated balance sheets, are reported at fair value which is based on quoted market prices (Level 1 inputs).  Our historical cost basis for these securities is $17,407 as of June 30, 2016.  The unrealized gain of $10,500 for these shares as of June 30, 2016 is included in cumulative other comprehensive income (loss) in our condensed consolidated balance sheets.

(2) Our 2,503,777 shares of class A common stock of RMR Inc., which are included in other assets in our condensed consolidated balance sheets, are reported at fair value which is based on quoted market prices (Level 1 inputs).  Our historical cost basis for these shares is $66,374 as of June 30, 2016.  The unrealized gain of $11,168 for these shares as of June 30, 2016 is included in cumulative other comprehensive income (loss) in our condensed consolidated balance sheets.

Schedule of fair value of additional financial instruments

	June 30, 2016				December 31, 2015
	Carrying		Fair		Carrying		Fair
	Value (1)		Value		Value (1)		Value
Senior Unsecured Notes, due 2016 at 6.30%	$	-	$	-	$	274,869	$	275,813
Senior Unsecured Notes, due 2017 at 5.625%		299,757		307,914		299,576		311,181
Senior Unsecured Notes, due 2018 at 6.70%		349,104		365,932		348,821		370,438
Senior Unsecured Notes, due 2021 at 4.25%		393,337		415,890		-		-
Senior Unsecured Notes, due 2022 at 5.00%		492,581		539,840		491,974		515,760
Senior Unsecured Notes, due 2023 at 4.50%		297,988		307,034		297,845		295,709
Senior Unsecured Notes, due 2024 at 4.65%		346,876		357,968		346,674		346,010
Senior Unsecured Notes, due 2025 at 4.50%		344,024		352,889		343,680		338,426
Senior Unsecured Notes, due 2026 at 5.25%		339,133		369,436		-		-
Convertible Unsecured Senior Notes, due 2027 at 3.8%		8,478		8,651		8,478		8,697
Total financial liabilities	$	2,871,278	$	3,025,554	$	2,411,917	$	2,462,034

(1) Carrying value includes unamortized discounts and certain issuance costs.