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U.S. Government Securities

9 Months Ended

Sep. 30, 2021

Investments, Debt and Equity Securities [Abstract]

U.S. Government Securities

U.S. Government Securities

The Company had U.S. Government securities of $130.1 million and $135.1 million as of September 30, 2021 and December 31, 2020, respectively. The acquisition of the One Westside and 10850 Pico properties in 2018 included the assumption of debt that was, in substance, defeased through the purchase of U.S. Government-backed securities. The securities are investments held to maturity and are carried at amortized cost on the Consolidated Balance Sheets. The Company has both the intent and ability to hold to maturity. As of September 30, 2021, the Company has incurred $5.1 million of gross unrealized gains and no gross unrealized losses related to the U.S. Government securities.

The following table summarizes the carrying value and fair value of the Company’s securities by the contractual maturity date as of September 30, 2021:

			Carrying Value						Fair Value
Due in 1 year			$	130,103					$	135,205
TOTAL			$	130,103					$	135,205

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
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-Publisher FASB
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-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

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-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph (b)

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