Company: BHR-PD
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001574085-25-000092
Chunk: 148

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 148
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, respectively. During the three and six months ended June 30, 2025, the Company sold a portion of the CMBS with a par value of $25 million resulting in a realized loss of approximately $1.3 million included in “other income (expense)” on the condensed consolidated statements of operations. As a result of the sale, $68,000 of unrealized gain was reclassified to realized loss in the three and six months ended June 30, 2025. There was no unrealized gain (loss) recognized as a change in other comprehensive income (loss) for the three and six months ended June 30, 2024.

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.

17

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

The carrying amounts and estimated fair values of financial instruments were as follows (in thousands):June 30, 2025December 31, 2024CarryingValueEstimatedFair ValueCarryingValueEstimatedFair ValueFinancial assets measured at fair value:Investment in securities$17,134 $17,134 $41,535 $41,535 Derivative assets313 313 356 356 Financial assets not measured at fair value:Cash and cash equivalents$80,226 $80,226 $135,465 $135,465 Restricted cash55,463 55,463 49,592 49,592 Accounts receivable, net32,673 32,673 31,754 31,754 Note receivable8,590 8,590 8,283 8,283 Due from third-party hotel managers24,232 24,232 22,873 22,873 Financial liabilities not measured at fair value:Indebtedness$1,225,507 $1,226,123 $1,222,003 $1,207,420 Accounts payable and accrued expenses131,142 131,142 143,566 143,