Company: LXP
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000910108-25-000067
Chunk: 84

Company: LXP Industrial Trust
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 84
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,189 offset by $3,920 in insurance proceeds received resulting in a net casualty gain of $1,731. The realized gain represents the insurance proceeds received in excess of the estimated casualty losses, net of the non-reimbursable portion of the Company's insurance deductible, and is included in Gain on 

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Table of ContentsLXP INDUSTRIAL TRUST AND CONSOLIDATED SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTSSeptember 30, 2025 and 2024(Unaudited and dollars in thousands, except share/unit and per share/unit data)

sale or disposal of, and recovery on, real estate, net in the unaudited Condensed Consolidated Statements of Operations for the three and nine-month period ended September 30, 2025. As of September 30, 2025, the amounts of the actual loss and the insurance proceeds remain subject to the completion of repairs and adjustment by the insurance carrier.

(5)Fair Value Measurements

The following tables present the Company's assets and liabilities measured at fair value on a recurring and non-recurring basis as of September 30, 2025 and December 31, 2024, aggregated by the level in the fair value hierarchy within which those measurements fall: As ofSeptember 30, 2025Fair Value Measurements UsingDescription(Level 1)(Level 2)(Level 3)Interest rate swap assets$1,058 $— $1,058 $— As of Fair Value Measurements UsingDescriptionDecember 31, 2024(Level 1)(Level 2)(Level 3)Interest rate swap assets$6,134 $— $6,134 $— The majority of the inputs used to value the Company's interest rate swaps fall within Level 2 of the fair value hierarchy, such as observable market interest rate curves; however, the credit valuation associated with the interest rate swaps utilizes Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparties. As of September 30, 2025 and December 31, 2024, the Company determined that the credit valuation adjustment relative to the overall interest rate swaps was not significant. As a result, all interest rate swaps have been classified in Level 2 of the fair value hierarchy.The table below sets forth the carrying amounts and estimated fair values of the Company's financial instruments as of September 30