Financing Activity (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule Of Credit Facility Interest Expense and Deferred Financing Fee Amortization

Interest expense and deferred financing fee amortization related to the Credit Agreements for the three and nine months ended September 30, 2022 and 2021 were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands of dollars)	2022		2021		2022		2021
Revolving Facilities:
Interest expense (1)	$	284	$	560	$	1,376	$	1,663
Deferred financing amortization		298		299		895		896
Term Loans:
Interest expense (2)		23,822		21,726		65,340		62,891
Deferred financing amortization		1,784		1,784		5,352		5,346

(1)All of the expense applied to the First Lien Revolving Facility.

(2)All of the expense applied to the Term Loans, of which $16.0 million and $42.0 million, for the three and nine months ended September 30, 2022 and $12.3 million and $35.7 million for the three and nine months ended September 30, 2021, respectively, was for the Second Lien Term Loan Facility and was not paid in cash, but capitalized to the principal balance of the loan.

Carrying and Fair Values of Mortgage Loans

The estimated fair values of our consolidated mortgage loans based on year-end interest rates and market conditions at September 30, 2022 and December 31, 2021 were as follows:

	September 30, 2022				December 31, 2021
(in millions of dollars)	Carrying Value		Fair Value		Carrying Value		Fair Value
Mortgage loans(1)	$	762.3	$	739.9	$	852.5	$	846.6

(1) The carrying value of mortgage loans excludes unamortized debt issuance costs of $1.1 million and $1.2 million as of September 30, 2022 and December 31, 2021, respectively.

Summary of Mortgage Payments

The following table represents mortgage payments which will come due during the following periods:

(in thousands of dollars)	Mortgage
October 1 to December 31, 2022 (1)	$	359,083
2023		59,886
2024		127,629
2025		215,751
2026		-
Thereafter		-
	$	762,349

(1) Includes Cherry Hill Mall mortgage, for which subsequent to the end of the quarter ended September 30, 2022, the maturity date was extended through February 1, 2023.