Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 244

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 244
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$573 $(935)$3,810 Total$573 $(935)$3,810 LiabilitiesDerivative liabilities:Warrants$12 $272 $1,151 Net$585 $(663)$4,961 Total combinedInterest rate derivatives - caps$(4,083)$(8,685)$3,313 Warrants12 272 1,151 Unrealized gain (loss) on derivatives$(4,071)(1)$(8,413)(1)$4,464 (1)Realized gain (loss) on interest rate caps4,656 (1) (2)7,750 (1) (2)497 (1) (2)Net$585 $(663)$4,961 ________(1)Reported in “realized and unrealized gain (loss) on derivatives” in our consolidated statements of operations.(2)Represents settled and unsettled payments from counterparties on interest rate caps.

At December 31, 2024, the amortized cost of the CMBS was $42.3 million. The unrealized gain (loss) that was recognized as a change in other comprehensive income (loss) was $(744,000) for the year ended December 31, 2024.

11. Summary of Fair Value of Financial Instruments

Determining the estimated fair values of certain financial instruments such as indebtedness requires considerable judgment to interpret market data. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. Accordingly, the estimates presented are not necessarily indicative of the amounts at which these instruments could be purchased, sold or settled.

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

The carrying amounts and estimated fair values of financial instruments were as follows (in thousands):December 31, 2024December 31, 2023CarryingValueEstimatedFair ValueCarryingValueEstimatedFair ValueFinancial assets measured at fair value:Investment in securities$41,535 $41,535 $— $— Derivative assets356 356 2,847 2,847 Financial liabilities measured at fair value:Derivative liabilities$— $— $12 $12 Financial assets not measured at fair value:Cash and cash equivalents$135,465 $135,465 $85,