Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurement (Tables)

v3.19.2
Fair Value Measurement (Tables)
6 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Schedule of carrying values and fair values of debt instruments The carrying values and fair values of debt instruments are as follows (in thousands):
 
 
June 30, 2019
 
December 31, 2018
 
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Bank line of credit
 
$
239,035

 
$
239,035

 
$
247,000

 
$
247,000

Senior debt
 
818,804

 
819,026

 
828,517

 
828,309

Subordinated debt
 
315,913

 
327,749

 
273,337

 
272,937

Securitization debt
 
589,430

 
621,137

 
400,068

 
394,756

Total
 
$
1,963,182

 
$
2,006,947

 
$
1,748,922

 
$
1,743,002


Schedule of fair value, financial instruments measured on recurring basis
At June 30, 2019 and December 31, 2018, financial instruments measured at fair value on a recurring basis, based upon the fair value hierarchy, are as follows (in thousands):
 
 
June 30, 2019
 
 
Level 1
 
Level 2
 
Level 3
 
Total
Derivative assets:
 
 
 
 
 
 
 
 
Interest rate swaps
 
$

 
$
111

 
$

 
$
111

Total
 
$

 
$
111

 
$

 
$
111

Derivative liabilities:
 
 
 
 
 
 
 
 
Interest rate swaps
 
$

 
$
56,590

 
$

 
$
56,590

Total
 
$

 
$
56,590

 
$

 
$
56,590


 
 
December 31, 2018
 
 
Level 1
 
Level 2
 
Level 3
 
Total
Derivative assets:
 
 
 
 
 
 
 
 
Interest rate swaps
 
$

 
$
6,958

 
$

 
$
6,958

Total
 
$

 
$
6,958

 
$

 
$
6,958

Derivative liabilities:
 
 
 
 
 
 
 
 
Interest rate swaps
 
$

 
$
11,910

 
$

 
$
11,910

Total
 
$

 
$
11,910

 
$

 
$
11,910