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Fair Value Measurements
 12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Fair Value Measurements
12. Fair Value Measurements
Recurring Fair Value Disclosures. The following table presents information about our financial instruments measured at fair value on a recurring basis as of December 31, 2017 and 2016 using the inputs and fair value hierarchy discussed in Note 2, “Summary of Significant Accounting Policies and Recent Accounting Pronouncements”:
Financial Instruments Measured at Fair Value on a Recurring Basis
 
December 31, 2017
 
December 31, 2016
 (in millions)
Quoted 
Prices in
Active Markets
for Identical
Assets (Level 1)
 
Significant
Other
Observable
Inputs 
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
 
Quoted
 Prices in
Active Markets
for Identical
Assets (Level 1)
 
Significant
Other
Observable
Inputs
 (Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
Other Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred compensation plan investments (1)
$
120.3

 
$
—

 
$
—

 
$
120.3

 
$
80.6

 
$
—

 
$
—

 
$
80.6

Derivative financial instruments - forward interest rate swap
—

 
2.2

 
—

 
2.2

 
—

 
—

 
—

 
—

Other Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivative financial instruments - forward interest rate swaps
$
—

 
$
0.5

 
$
—

 
$
0.5

 
$
—

 
$
—

 
$
—

 
$
—


(1)
Approximately $4.2 million and $8.3 million of participant cash was withdrawn from our deferred compensation plan investments during the years ended December 31, 2017 and 2016, respectively. Approximately $23.2 million and $25.4 million of shares within the deferred compensation plan were diversified into other deferred compensation plan investments during the years ended December 31, 2017 and 2016, respectively.
Nonrecurring Fair Value Disclosures. The nonrecurring fair value disclosures inputs under the fair value hierarchy are discussed in Note 2, “Summary of Significant Accounting Policies and Recent Accounting Pronouncements.” We completed an asset acquisition, Camden Buckhead Square, in 2017. We recorded the real estate assets and identifiable below market and in-place leases at their relative fair values based upon methods similar to those used by independent appraisers of income producing properties. The fair value measurements associated with the valuation of this acquired asset represent Level 3 measurements within the fair value hierarchy. See Note 7, "Acquisitions, Dispositions, and Discontinued Operations" for a further discussion about this acquisition. There were no non-recurring fair value adjustments during the year ended December 31, 2016.
Financial Instrument Fair Value Disclosures. The following table presents the carrying and estimated fair values of our notes payable at December 31, 2017 and 2016, in accordance with the policies discussed in Note 2, "Summary of Significant Accounting Policies and Recent Accounting Pronouncements."
 
 
December 31, 2017
 
December 31, 2016
(in millions)
Carrying
Value
 
Estimated
Fair Value
 
Carrying
Value (1)
 
Estimated
Fair Value
Fixed rate notes payable
$
2,029.6

 
$
2,106.5

 
$
2,274.9

 
$
2,347.0

Floating rate notes payable
175.0

 
173.7

 
205.7

 
200.5