Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.24.0.1
FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of interest rate swap derivatives fair value
Information regarding the Company's interest rate swaps measured at fair value, which are classified within Level 2 of the GAAP fair value hierarchy, is presented below (dollars in thousands):
Interest Rate Swaps Designated as Cash Flow Hedges
Fair value at December 31, 2021 $ (33,757)
Cash flow hedge ineffectiveness included in accumulated other comprehensive income
Losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive income
2,315 
Unrealized gains on interest rate swaps included in accumulated other comprehensive income
82,418 
Fair value at December 31, 2022 $ 50,983 
Fair value at December 31, 2022 $ 50,983 
(Gains) and losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive income (loss)
(35,716)
Unrealized gains and realized (losses) on interest rate swaps and forward starting swaps included in accumulated other comprehensive income
10,893 
Fair value at December 31, 2023 $ 26,160 
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The following table presents the carrying value and estimated fair value of our fixed rate private placement notes and mortgages (dollars in thousands):
Carrying Value(1)
Fair Value
December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022
Liabilities
Private Placement Notes $ 1,600,000  $ 1,230,000  $ 1,417,147  $ 1,014,153 
Mortgage Notes 222,757  299,570  211,480  282,758 
(1) Carrying value represents the principal balance outstanding