Company: BHR-PD
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001574085-25-000024
Chunk: 243

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 243
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. These securities are classified as available for sale and are generally reported at fair value utilizing Level 2 inputs where the Company obtains fair value measurements from an external pricing vendor. Prices received from the vendor are analyzed based on various sources of observable market data. If prices are not within certain tolerance levels that are based on the asset type’s characteristics, the exception is researched and, if the price is not able to be validated, an alternate pricing vendor is utilized.Assets and Liabilities Measured at Fair Value on a Recurring BasisThe following table presents our assets and liabilities measured at fair value on a recurring basis aggregated by the level within which measurements fall in the fair value hierarchy (in thousands):Quoted Market Prices (Level 1)Significant OtherObservable Inputs (Level 2)Significant Unobservable Inputs (Level 3)TotalDecember 31, 2024AssetsCMBS$— $41,535 $— $41,535 (1)Derivative assets:Interest rate derivatives - caps$— $356 $— $356 (2)Total$— $41,891 $— $41,891 Quoted Market Prices (Level 1)Significant OtherObservable Inputs (Level 2)Significant Unobservable Inputs (Level 3)TotalDecember 31, 2023AssetsDerivative assets:Interest rate derivatives - caps$— $2,847 $— $2,847 (2)$— $2,847 $— $2,847 LiabilitiesDerivative liabilities:Warrants$— $(12)$— $(12)(3)Net$— $2,835 $— $2,835 __________________(1)Reported as “investment in securities” in our consolidated balance sheet.(2)Reported as “derivative assets” in our consolidated balance sheets.(3)Reported as “derivative liabilities” in our consolidated balance sheets

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

Effect of Fair Value Measured Assets and Liabilities on Consolidated Statements of OperationsThe following table summarizes the effect of fair value measured assets and liabilities on our consolidated statements of operations (in thousands):Gain (Loss) Recognized in IncomeYear Ended December 31,202420232022AssetsDerivative assets:Interest rate derivatives - caps