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Fair Value Disclosures (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Assets Measured At Fair Value On A Recurring Basis
The table below presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 and 2023, aggregated by the level in the fair value hierarchy within which those measurements are classified and by derivative type.

Assets and Liabilities Measured at Fair Value on a Recurring Basis at December 31, 2024 and 2023
(Dollars in thousands)
DescriptionQuoted Prices in
Active Markets
for Identical
Assets (Level I)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
Balance at
end of period
2024:
Cross Currency Swaps (1)$— $1,475 $— $1,475 
Currency Forward Agreements (2)$— $(26)$— $(26)
Interest Rate Swap Agreements (1)$— $677 $— $677 
2023:
Cross Currency Swaps (1)$— $384 $— $384 
Currency Forward Agreements (2)$— $(4,908)$— $(4,908)
Interest Rate Swap Agreements (1)$— $876 $— $876 
Assets And Liabilities Measured At Fair Value On A Non-Recurring Basis
Non-recurring fair value measurements
The table below presents the Company's assets measured at fair value on a non-recurring basis as of December 31, 2024 and 2023, aggregated by the level in the fair value hierarchy within which those measurements fall.

Assets Measured at Fair Value on a Non-Recurring Basis at December 31, 2024 and 2023
(Dollars in thousands)
DescriptionQuoted Prices in
Active Markets
for Identical
Assets (Level I)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
Balance at
end of period
2024:
Real estate investments, net (1)$— $39,440 $6,500 $45,940 
Investment in joint ventures (2)— — — — 
2023:
Real estate investments, net (3)$— $— $39,150 $39,150 

(1) As further discussed in Note 5, during the year ended December 31, 2024, the Company recorded impairment charges of $51.8 million related to real estate investments, net, on five theatre properties. Management estimated the fair value of these investments taking into account various factors, including purchase offers, independent appraisals, shortened hold periods and market conditions. The Company determined, based on the inputs, that its valuation of four of these properties with purchase offers were classified as Level 2 of the fair value hierarchy and were measured at fair value. One property was measured at fair value using an independent appraisal, which used a discounted cash flow model. The significant inputs and assumptions used in the real estate appraisal included land valued at approximately $475 thousand per acre less demolition costs of approximately $13.91 per square foot of building. These measurements were classified within Level 3 of the fair value hierarchy because many of the assumptions were not observable.
(2) As further discussed in Note 8, during the year ended December 31, 2024, the Company recorded impairment charges of $28.2 million related to its investment in two unconsolidated real estate joint ventures that own two experiential lodging properties located in St. Pete Beach, Florida and two unconsolidated real estate joint ventures that own an experiential lodging property located in Breaux Bridge, Louisiana. Management estimated the fair value of these investments, taking into account various factors including implied asset value changes based on discounted cash flow projections and current market conditions. The Company determined, based on the inputs, that its valuation of investment in joint ventures were classified within Level 3 of the fair value hierarchy as many of the assumptions were not observable.
(3) As further discussed in Note 5, during the year ended December 31, 2023, the Company recorded impairment charges of $67.4 million related to real estate investments, net, on 12 properties. Management estimated the fair values of these investments taking into account various factors including independent appraisals, shortened hold periods and market conditions. The significant inputs and assumptions used in the real estate appraisals included market rents ranging from $4.50 per square foot to $20.00 per square foot, discount rates ranging from 8.50% to 11.50% and terminal capitalization rates ranging from 7.75% to 10.25%. Estimating future cash flows is highly subjective and estimates can differ materially from actual results. These measurements were classified within Level 3 of the fair value hierarchy because many of the assumptions were not observable.