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Disclosures About Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2014
Disclosures About Fair Value of Financial Instruments  
Summary of the carrying values and fair values of financial instruments

The table below summarizes the carrying values and fair values of the Company’s financial instruments (in thousands):

 

 

 

March 31, 2014

 

December 31, 2013

 

 

 

Carrying
Value

 

Fair Value

 

Carrying
Value

 

Fair Value

 

Loans receivable, net(2) 

 

$

371,172

 

$

378,380

 

$

366,001

 

$

373,441

 

Marketable debt securities(1) 

 

245,649

 

283,335

 

244,089

 

280,850

 

Marketable equity securities(1) 

 

35

 

35

 

—

 

—

 

Warrants(3) 

 

167

 

167

 

114

 

114

 

Term loan(2) 

 

228,269

 

228,269

 

226,858

 

226,858

 

Senior unsecured notes(1) 

 

6,912,812

 

7,475,065

 

6,963,375

 

7,405,817

 

Mortgage debt(2) 

 

1,235,169

 

1,259,067

 

1,396,485

 

1,421,214

 

Other debt(2) 

 

74,097

 

74,097

 

74,909

 

74,909

 

Interest-rate swap assets(2) 

 

2,035

 

2,035

 

2,325

 

2,325

 

Interest-rate swap liabilities(2) 

 

(8,292

)

(8,292

)

8,384

 

8,384

 

Currency swap liabilities(2) 

 

(3,254

)

(3,254

)

2,756

 

2,756

 

 

(1)          Level 1: Fair value calculated based on quoted prices in active markets.

(2)          Level 2: Fair value based on quoted prices for similar or identical instruments in active or inactive markets, respectively, or calculated utilizing standardized pricing models in which significant inputs or value drivers are observable in active markets.

(3)          Level 3: Fair value determined based on significant unobservable market inputs using standardized derivative pricing models.