Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Assets and Liabilities Measured at Fair Value

The Company’s assets and liabilities measured or disclosed at fair value are as follows:



		Fair Value
	Fair Value Hierarchy	September 30, 2018		December 31, 2017
		(In thousands)
Measured at fair value on a recurring basis:
Cash and cash equivalents	Level 1	$	226,807	$	48,873
Restricted cash	Level 1	38,448		21,090
Interest rate swap liability	Level 2	1,857		2,463
Measured at fair value on a non-recurring basis:
Long-lived assets written down:
Property, plant and equipment	Level 3	$	—	$	2,576
Disclosed at fair value:
Mortgage notes, term loans and construction loan ⁽¹⁾	Level 3	$	1,398,070	$	1,807,199


(1)	The carrying value of the mortgage notes, term loans and construction loan, net of unamortized discount and deferred financing costs, was $1,376,998 thousand and $1,721,958 thousand as of September 30, 2018 and December 31, 2017, respectively.

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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