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Fair Value (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The fair value of the Company's debt was as follows (in thousands):

			September 30, 2021												December 31, 2020
			Carrying Value						Fair Value						Carrying Value						Fair Value
2029 Senior Notes, net			$	494,421					$	501,060					$	—					$	—
2026 Senior Notes, net			492,476						503,975						—						—
2025 Senior Notes, net			—						—						495,759						484,229
Revolver and Term Loans, net			1,014,659						1,005,545						1,568,304						1,543,636
Mortgage loans, net			379,718						371,810						523,668						512,118
Debt, net			$	2,381,274					$	2,382,390					$	2,587,731					$	2,539,983

Schedule of fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis

The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 (in thousands):

			Fair Value at September 30, 2021
			Level 1						Level 2						Level 3						Total
Interest rate swap asset			$	—					$	358					$	—					$	358
Interest rate swap liability			—						(35,566)						—						(35,566)
Total			$	—					$	(35,208)					$	—					$	(35,208)

The following table presents the Company’s fair value hierarchy for those financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 (in thousands):

			Fair Value at December 31, 2020
			Level 1						Level 2						Level 3						Total
Interest rate swap liability			$	—					$	(69,050)					$	—					$	(69,050)
Total			$	—					$	(69,050)					$	—					$	(69,050)

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- References

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- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

+ References

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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=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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