Impairment Charges (Tables)

3 Months Ended

Mar. 31, 2024

Asset Impairment Charges [Abstract]

Impairment Charges Measured at Fair Value of Real Estate on Non-Recurring Basis

The table also indicates the fair value hierarchy of the valuation techniques used by the Company to determine such fair value (in millions):

	Fair Value Measurements
	Level 1		Level 2		Level 3		Total		Total Impairment Charges
March 31, 2024
Long-lived assets held and used	$	—	$	—	$	138.2	$	138.2	$	66.6

Summary of Significant Unobservable Inputs

The following table presents quantitative information about the significant unobservable inputs used by the Company to determine the fair value (in millions, except per square foot):

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value at		Valuation
Description	March 31, 2024		Technique	Unobservable Inputs	Range
Impairment of consolidated assets	$	22.2	Indicative Bid	Indicative Bid(A)	N/A
		116.0	Income Capitalization Approach	Market Capitalization Rate	7.0%—7.7%
				Cost per square foot	$	44

(A) Fair value measurements based upon an indicative bid and developed by third-party sources (including offers and comparable sales values), subject to the Company’s corroboration for reasonableness. The Company does not have access to certain unobservable inputs used by these third parties to determine these estimated fair values.