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Fair Value Disclosures (Tables)
 12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Assets Measured At Fair Value On A Recurring Basis
The table below presents the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 and 2017, aggregated by the level in the fair value hierarchy within which those measurements are classified and by derivative type.
Assets and Liabilities Measured at Fair Value on a Recurring Basis at December 31, 2018 and 2017
(Dollars in thousands)
Description
Quoted Prices in
Active Markets
for Identical
Assets (Level I)
 
Significant
Other
Observable
Inputs (Level 2)
 
Significant
Unobservable
Inputs (Level 3)
 
Balance at
end of period
2018:
 
 
 
 
 
 
 
Cross Currency Swaps*
$
—

 
$
6,278

 
$
—

 
$
6,278

Interest Rate Swap Agreements*
$
—

 
$
4,344

 
$
—

 
$
4,344

2017:
 
 
 
 
 
 
 
Cross Currency Swaps*
$
—

 
$
1,041

 
$
—

 
$
1,041

Cross Currency Swaps**
$
—

 
$
(134
)
 
$
—

 
$
(134
)
Currency Forward Agreements*
$
—

 
$
22,235

 
$
—

 
$
22,235

Interest Rate Swap Agreements*
$
—

 
$
2,496

 
$
—

 
$
2,496

*Included in "Other assets" in the accompanying consolidated balance sheet.
**Included in "Accounts payable and accrued liabilities" in the accompanying consolidated balance sheet.
Assets And Liabilities Measured At Fair Value On A Non-Recurring Basis
Non-recurring fair value measurements
The table below presents the Company's assets measured at fair value on a non-recurring basis during the year ended December 31, 2018 aggregated by the level in the fair value hierarchy within which those measurements fall.

Assets Measured at Fair Value on a Non-Recurring Basis During the Year Ended December 31, 2018 and 2017
(Dollars in thousands)
Description
Quoted Prices in
Active Markets
for Identical
Assets (Level I)
 
Significant
Other
Observable
Inputs (Level 2)
 
Significant
Unobservable
Inputs (Level 3)
 
Balance at
end of period
2018:
 
 
 
 
 
 
 
Land held for development
$
—

 
$
—

 
$
9,805

 
$
9,805

2017:
 
 
 
 
 
 
 
Investment in direct financing leases, net
$
—

 
$
—

 
$
35,807

 
$
35,807


As discussed further in Note 4, during the year ended December 31, 2018, the Company recorded impairment charges totaling $16.5 million related to land held for development and property under development. Management estimated the fair value of these investments taking into account various factors including the independent appraisals, the shortened hold period and current market conditions. The Company determined, based on the inputs, that its valuation of land held for development and property under development was classified within Level 3 of the fair value hierarchy as many of the assumptions are not observable.

As discussed further in Note 7, during the year ended December 31, 2017, the Company recorded impairment charges totaling $10.2 million related to its investment in direct financing leases, net. Management estimated the fair value of this investments taking into account various factors including the independent appraisals, input from an outside broker and current market conditions. The Company determined, based on the inputs, that its valuation of the investment was classified within Level 3 of the fair value hierarchy as many of the assumptions are not observable. During 2017, the Company entered into revised lease terms on these properties and as a result, these properties were classified as operating leases and moved to rental properties.