v3.26.1
Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
As of June 30, 2026 and December 31, 2025, the carrying amounts of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses approximate their fair values due to the short-term maturities of the instruments.
The Company’s financial assets and liabilities recorded at fair value on a recurring basis include derivative instruments. The Company’s assets and liabilities recorded at fair value on a non-recurring basis include long-lived assets when events or changes in circumstances indicate that the carrying amounts may not be recoverable.
The Company’s assets and liabilities measured or disclosed at fair value are as follows:
Fair Value
Fair Value Hierarchy
June 30,
2026
December 31, 2025
(In thousands)
Measured at fair value on a recurring basis:(2)
Interest rate swap assetsLevel 2$— $1,906 
Interest rate swap liabilitiesLevel 2$1,939 $3,403 
Measured at fair value on a non-recurring basis:
Certain previously impaired real estate assetsLevel 3$155,813 $20,885 
Disclosed at fair value:
Public 5.600% Notes(1)
Level 2$401,292 $404,334 
Public 5.409% Notes(1)
Level 2$486,400 $489,960 
Senior Unsecured Notes (excluding Public 5.600% Notes and Public 5.409% Notes), Senior Unsecured Term Loans, and Senior Unsecured Revolving Credit Facility(1)
Level 3$3,232,407 $3,128,449 
(1)The carrying value of the Senior Unsecured Notes, Senior Unsecured Term Loans, and Senior Unsecured Revolving Credit Facility is disclosed in Note 4 - Debt to these Condensed Consolidated Financial Statements.
(2)For further information regarding the fair value of assets held by various pension plans refer to Note 13 - Fair Value of our 2025 Annual Report on Form 10-K.