Disclosure about Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

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


		December 31, 2017				December 31, 2016
		Carrying		Fair		Carrying		Fair
		Amount		Value		Amount		Value
Financial Assets:
	Mortgage loans receivable	$	306,120	$	332,508	$	485,735	$	521,773
	Other real estate loans receivable		121,379		125,480		136,893		138,050
	Available-for-sale equity investments		7,269		7,269		27,899		27,899
	Cash and cash equivalents		243,777		243,777		419,378		419,378
	Restricted cash		65,526		65,526		187,842		187,842
	Foreign currency forward contracts		15,604		15,604		135,561		135,561

Financial Liabilities:
	Borrowings under unsecured lines of credit arrangements	$	719,000	$	719,000	$	645,000	$	645,000
	Senior unsecured notes		8,331,722		9,168,432		8,161,619		8,879,176
	Secured debt		2,608,976		2,641,997		3,477,699		3,558,378
	Foreign currency forward contracts		38,654		38,654		4,342		4,342

Redeemable OP unitholder interests		$	97,476	$	97,476	$	110,502	$	110,502


	Fair Value Measurements as of December 31, 2017
	Total		Level 1		Level 2		Level 3
Available-for-sale equity investments⁽¹⁾	$	7,269	$	7,269	$	-	$	-
Foreign currency forward contracts, net⁽²⁾		(23,050)		-		(23,050)		-
Redeemable OP unitholder interests		97,476		-		97,476		-
Totals	$	81,695	$	7,269	$	74,426	$	-

(1) Unrealized gains or losses on available-for-sale equity investments are recorded in accumulated other comprehensive income (loss) at each measurement date. During the years ended December 31, 2017 and 2015, we recognized other than temporary impairment charges of $18,294,000 and $35,648,000, respectively, 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.