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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2023
Fair Value Measurements  
Summary of assets and liabilities measured at fair value on a recurring basis

Fair Value Measurements

    

Total

    

Level 1

    

Level 2

    

Level 3

(In thousands)

December 31, 2023

 

Derivative financial instruments designated as effective hedges:

 

  

 

  

 

  

 

  

Classified as assets in "Other assets, net"

$

35,632

$

35,632

Classified as liabilities in "Other liabilities, net"

7,936

 

7,936

 

Non-designated derivatives:

 

  

 

  

 

  

 

  

Classified as assets in "Other assets, net"

 

6,709

 

 

6,709

 

Classified as liabilities in "Other liabilities, net"

 

6,508

 

 

6,508

 

December 31, 2022

 

  

 

  

 

  

 

  

Derivative financial instruments designated as effective hedges:

 

  

 

  

 

  

 

  

Classified as assets in "Other assets, net"

$

53,515

$

53,515

Non-designated derivatives:

 

  

 

  

 

  

 

  

Classified as assets in "Other assets, net"

 

8,107

 

 

8,107

 

Schedule of financial instruments and liabilities were reflected in our balance sheets

December 31, 2023

December 31, 2022

    

Carrying

    

    

Carrying

    

Amount (1)

Fair Value

Amount (1)

Fair Value

 

(In thousands)

Financial liabilities:

 

  

 

  

 

  

 

  

Mortgage loans

$

1,798,225

$

1,753,251

$

1,901,875

$

1,830,651

Revolving credit facility

 

62,000

 

62,000

 

 

Term loans

 

720,000

 

715,950

 

550,000

 

551,369

(1)The carrying amount consists of principal only.