Company: BHR-PD
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001574085-25-000092
Chunk: 147

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 147
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ENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

Effect of Fair Value Measured Assets and Liabilities on Condensed Consolidated Statements of OperationsThe following table summarizes the effect of fair value measured assets and liabilities on our condensed consolidated statements of operations (in thousands):Gain (Loss) Recognized in IncomeThree Months Ended June 30,Six Months Ended June 30,2025202420252024AssetsDerivative assets:Interest rate derivatives - caps$15 $326 $(183)$1,246 Total derivative assets$15 $326 $(183)$1,246 Non-derivative assets:Investment in securities$(1,250)$— $(1,250)$— Total$(1,235)$326 $(1,433)$1,246 LiabilitiesDerivative liabilities:Warrants$— $— $— $12 Net$(1,235)$326 $(1,433)$1,258 Total combinedInterest rate derivatives - caps$(165)$(1,213)$(551)$(1,964)Warrants— — — 12 Unrealized gain (loss) on derivatives$(165)(1)$(1,213)(1)$(551)(1)$(1,952)(1)Realized gain (loss) on interest rate caps180 (1) (2)1,539 (1) (2)368 (1) (2)3,210 (1) (2)Realized gain (loss) on investment in securities(1,250)(3)— (1,250)(3)— Net$(1,235)$326 $(1,433)$1,258 ________(1)Reported in “realized and unrealized gain (loss) on derivatives” in our condensed consolidated statements of operations.(2)Represents settled and unsettled payments from counterparties on interest rate caps.(3)Reported in “other income (expense)” in our condensed consolidated statements of operations.

The amortized cost of the CMBS at June 30, 2025 and December 31, 2024, was $17.3 million and $42.3 million, respectively. The unrealized gain (loss) recognized as a change in other comprehensive income (loss) for the three and six months ended June 30, 2025 was $(260,000) and $599,000