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Disclosure about Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure about Fair Value of Financial Instruments (Tables) [Abstract]

Carrying amounts and estimated fair values of financial instruments

The carrying amounts and estimated fair values of our financial instruments are as follows (in thousands):


			December 31, 2016						December 31, 2015
			Carrying			Fair			Carrying			Fair
			Amount			Value			Amount			Value
Financial Assets:
	Mortgage loans receivable		$	485,735		$	521,773		$	635,492		$	663,501
	Other real estate loans receivable			136,893			138,050			184,000			185,693
	Available-for-sale equity investments			27,899			27,899			22,779			22,779
	Cash and cash equivalents			419,378			419,378			360,908			360,908
	Foreign currency forward contracts			135,561			135,561			129,520			129,520

Financial Liabilities:
	Borrowings under unsecured lines of credit arrangements		$	645,000		$	645,000		$	835,000		$	835,000
	Senior unsecured notes			8,161,619			8,879,176			8,548,055			9,020,529
	Secured debt			3,477,699			3,558,378			3,509,142			3,678,564
	Foreign currency forward contracts			4,342			4,342			-			-

Redeemable OP unitholder interests			$	110,502		$	110,502		$	112,029		$	112,029

The Market approach utilized to measure fair value of financial assets and liabilities on recurring basis


		Fair Value Measurements as of December 31, 2016
		Total			Level 1			Level 2			Level 3
Available-for-sale equity investments⁽¹⁾		$	27,899		$	27,899		$	-		$	-
Foreign currency forward contracts, net⁽²⁾			131,219			-			131,219			-
Redeemable OP unitholder interests			110,502			-			110,502			-
Totals		$	269,620		$	27,899		$	241,721		$	-

(1) Unrealized gains or losses on equity investments are recorded in accumulated other comprehensive income (loss) at each measurement date. During the year ended December 31, 2015, we recognized an other than temporary impairment charge of $35,648,000 on the Genesis Healthcare stock investment. Also, see Note 11 for details related to the gain on the derivative asset originally recognized.
(2) Please see Note 11 for additional information.