XML 39 R29.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Fair Value (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of summary of consolidated Hedging Derivatives, excluding derivatives executed to hedge debt on communities classified as held for sale | The following table summarizes the consolidated derivative positions at June 30, 2024 (dollars in thousands):
| Non-designated Hedges |
| Interest Rate Caps |
Notional balance | $ | 391,846 |
Weighted average interest rate (1) | 5.5 | % |
Weighted average capped/swapped interest rate | 6.7 | % |
Earliest maturity date | February 2026 |
Latest maturity date | January 2027 |
____________________________________ (1)For debt hedged by interest rate caps, represents the weighted average interest rate on the hedged debt prior to any impact of the associated interest rate caps.
Schedule of summary of classification between the three levels of the fair value hierarchy of the Company's financial instruments measured at fair value on a recurring basis | The following tables summarize the classification between the three levels of the fair value hierarchy of the Company's financial instruments measured/disclosed at fair value on a recurring basis (dollars in thousands):
|  | June 30, 2024
Description |  | Total Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets |  |  |  |  |  |  |  |
Investments |  |  |  |  |  |  |  |
Notes Receivable, net |  | $ | 165,826 |  |  | $ | — |  |  | $ | 165,826 |  |  | $ | — |
Non Designated Hedges |  |  |  |  |  |  |  |
Interest Rate Caps |  | 30 |  |  | — |  |  | 30 |  |  | — |
Total Assets |  | $ | 165,856 |  |  | $ | — |  |  | $ | 165,856 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |
Indebtedness |  |  |  |  |  |  |  |
Fixed rate unsecured notes |  | $ | 7,006,785 |  |  | $ | 7,006,785 |  |  | $ | — |  |  | $ | — |
Mortgage notes payable and Commercial Paper Program |  | 651,283 |  |  | — |  |  | 651,283 |  |  | — |
Total Liabilities |  | $ | 7,658,068 |  |  | $ | 7,006,785 |  |  | $ | 651,283 |  |  | $ | — |
|  | December 31, 2023
Description |  | Total Fair Value |  | Quoted Prices in Active Markets for Identical Asset (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets |  |  |  |  |  |  |  |
Investments |  |  |  |  |  |  |  |
Notes Receivable, net |  | $ | 118,127 |  |  | $ | — |  |  | $ | 118,127 |  |  | $ | — |
Non Designated Hedges |  |  |  |  |  |  |  |
Interest Rate Caps |  | 85 |  |  | — |  |  | 85 |  |  | — |
Interest Rate Swaps - Assets |  | 5,163 |  |  | — |  |  | 5,163 |  |  | — |
Total Assets |  | $ | 123,375 |  |  | $ | — |  |  | $ | 123,375 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |
Interest Rate Swaps - Liabilities |  | $ | 162 |  |  | $ | — |  |  | $ | 162 |  |  | $ | — |
Indebtedness |  |  |  |  |  |  |  |
Fixed rate unsecured notes |  | 6,716,631 |  |  | 6,716,631 |  |  | — |  |  | — |
Mortgage notes payable and Commercial Paper Program |  | 644,313 |  |  | — |  |  | 644,313 |  |  | — |
Total Liabilities |  | $ | 7,361,106 |  |  | $ | 6,716,631 |  |  | $ | 644,475 |  |  | $ | — |

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration