Company: LXP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000910108-25-000041
Chunk: 82

Company: LXP Industrial Trust
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 8
Chunk 82
---
IDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTSJune 30, 2025 and 2024(Unaudited and dollars in thousands, except share/unit and per share/unit data)

(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 June 30, 2025 and December 31, 2024, aggregated by the level in the fair value hierarchy within which those measurements fall: As of June 30, 2025Fair Value Measurements UsingDescription(Level 1)(Level 2)(Level 3)Interest rate swap assets$1,616 $— $1,616 $— 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 June 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 June 30, 2025 and December 31, 2024: As of June 30, 2025As of December 31, 2024 Carrying AmountFair ValueCarrying AmountFair ValueLiabilities    Debt$1,491,360 $1,401,620 $1,570,010 $1,459,062 The fair value of the Company's debt is primarily estimated utilizing Level 3 inputs by using a discounted cash flow analysis, based upon estimates of market interest rates. The Company determines the fair value of its Senior Notes using market prices. The inputs used in determining the fair value of these notes are categorized as Level 1 due to the fact that the Company uses quoted market rates to value these instruments. However, the inputs