Disclosure about Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [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):

	March 31, 2020				December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Mortgage loans receivable	$	96,480	$	96,702	$	145,686	$	150,217
Other real estate loans receivable	124,748		123,101		124,696		128,512
Equity securities	8,034		8,034		15,685		15,685
Cash and cash equivalents	303,423		303,423		284,917		284,917
Restricted cash	89,643		89,643		100,849		100,849
Non-real estate loans receivable	373,179		418,221		336,854		379,239
Foreign currency forward contracts, interest rate swaps and cross currency swaps	210,837		210,837		18,554		18,554
Financial liabilities:
Borrowings under unsecured credit facility and commercial paper program	$	844,985	$	844,985	$	1,587,597	$	1,587,597
Senior unsecured notes	10,218,853		10,565,256		10,336,513		11,400,571
Secured debt	2,901,232		3,032,376		2,990,962		3,041,893
Foreign currency forward contracts, interest rate swaps and cross currency swaps	87,557		87,557		53,601		53,601
Redeemable OP unitholder interests	$	94,048	$	81,717	$	121,440	$	121,440

Summary of Items Measured at Fair Value on a Recurring Basis

The following summarizes items measured at fair value on a recurring basis (in thousands):

	Fair Value Measurements as of March 31, 2020
	Total		Level 1		Level 2		Level 3
Equity securities	$	8,034	$	8,034	$	—	$	—
Foreign currency forward contracts, interest rate swaps and cross currency swaps, net asset (liability) (1)	123,280		—		123,280		—
Totals	$	131,314	$	8,034	$	123,280	$	—

⁽¹⁾ Please see Note 12 for additional information.