Company: BHR-PD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001574085-25-000051
Chunk: 20

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 20
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 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 March 31,20252024AssetsDerivative assets:Interest rate derivatives - caps$(198)$920 Total$(198)$920 LiabilitiesDerivative liabilities:Warrants$— $12 Net$(198)$932 Total combinedInterest rate derivatives - caps$(386)$(751)Warrants— 12 Unrealized gain (loss) on derivatives$(386)(1)$(739)(1)Realized gain (loss) on interest rate caps188 (1) (2)1,671 (1) (2)Net$(198)$932 ________(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.

The amortized cost of the CMBS at March 31, 2025 and December 31, 2024, was $42.3 million and $42.3 million, respectively. The unrealized gain (loss) recognized as a change in other comprehensive income (loss) for the three months ended March 31, 2025 and March 31, 2024 was $859,000 and $0, respectively.

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

9. 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.The carrying amounts and estimated fair values of financial instruments were as follows (in thousands):March 31, 2025December 31, 2024CarryingValueEstimatedFair ValueCarryingValueEstimatedFair ValueFinancial assets measured at fair value:Investment in securities$42,394 $42,394 $41,535 $41,535 Derivative assets478 478 356 356 Financial assets not