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Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities, Recurring

The Company’s financial assets and liabilities measured and reported at fair value on a recurring basis include the following as of:

						March 31, 2022																								December 31, 2021
						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3						Total
Interest rate cap derivative asset(1)						$	—					$	2,739					$	—					$	2,739					$	—					$	368					$	—					$	368
Interest rate swap derivative liabilities(2)						$	—					$	(53)					$	—					$	(53)					$	—					$	(2,535)					$	—					$	(2,535)
Non-real estate investments measured at fair value(1)						$	873					$	484					$	—					$	1,357					$	1,915					$	1,568					$	—					$	3,483
Stock purchase warrant(1)						$	—					$	704					$	—					$	704					$	—					$	1,664					$	—					$	1,664
Earnout liability(2)(3)						$	—					$	—					$	7,543					$	7,543					$	—					$	—					$	11,383					$	11,383
Non-real estate investments measured at NAV(1)(4)						$	—					$	—					$	—					$	43,234					$	—					$	—					$	—					$	27,964

___________ 

1.Included in prepaid expenses and other assets, net on the Consolidated Balance Sheets.

2.Included in accounts payable, accrued liabilities and other on the Consolidated Balance Sheets.

3.Related to the acquisition of Zio. Refer to Note 3 for additional details.

4.According to the relevant accounting standards, certain investments that are measured at fair value using the NAV practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Balance Sheets.

Fair Value Measurements, Recurring and Nonrecurring

The table below represents the carrying value and fair value of the Company’s investment in securities and debt as of:

			March 31, 2022												December 31, 2021
			Carrying Value						Fair Value						Carrying Value						Fair Value
ASSETS
U.S. Government securities			$	127,157					$	129,614					$	129,321					$	130,910
LIABILITIES
Unsecured debt(1)			$	2,260,000					$	2,246,311					$	2,050,000					$	2,154,908
Secured debt(1)			$	1,740,720					$	1,734,332					$	1,714,874					$	1,713,726
In-substance defeased debt			$	127,294					$	126,969					$	128,212					$	128,361
Joint venture partner debt			$	66,136					$	65,804					$	66,136					$	69,116

_________________

1.Amounts represent debt excluding net deferred financing costs.

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
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- 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/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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