Disclosure about Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 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):

	September 30, 2020				December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Mortgage loans receivable	$	289,082	$	295,597	$	145,686	$	150,217
Other real estate loans receivable	125,624		129,069		124,696		128,512
Equity securities	5,205		5,205		15,685		15,685
Cash and cash equivalents	1,603,740		1,603,740		284,917		284,917
Restricted cash	551,593		551,593		100,849		100,849
Non-real estate loans receivable	382,149		430,558		336,854		379,239
Foreign currency forward contracts, interest rate swaps and cross currency swaps	81,964		81,964		18,554		18,554
Financial liabilities:
Borrowings under unsecured credit facility and commercial paper program	$	—	$	—	$	1,587,597	$	1,587,597
Senior unsecured notes	11,321,573		12,603,853		10,336,513		11,400,571
Secured debt	2,459,659		2,541,260		2,990,962		3,041,893
Foreign currency forward contracts, interest rate swaps and cross currency swaps	64,100		64,100		53,601		53,601
Redeemable OP unitholder interests	$	100,513	$	98,335	$	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 September 30, 2020
	Total		Level 1		Level 2		Level 3
Equity securities	$	5,205	$	5,205	$	—	$	—
Foreign currency forward contracts, interest rate swaps and cross currency swaps, net asset (liability) (1)	17,864		—		17,864		—
Totals	$	23,069	$	5,205	$	17,864	$	—

(1) Please see Note 12 for additional information.