Company: GLPI
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001575965-25-000008
Chunk: 186

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 186
---
 are based on changes in the commercial real estate price index. As such, this was determined to be a Level 3 measurement as defined under ASC 820.Deferred Compensation Plan Assets The Company's deferred compensation plan assets consist of open-ended mutual funds and as such the fair value measurement of the assets is considered a Level 1 measurement as defined under ASC 820. Deferred compensation plan assets are included within other assets on the Consolidated Balance Sheets. Real Estate Loans, netThe fair value of the real estate loans approximates the gross carrying value of the Company's real estate loans, ascollection on the outstanding loan balance is reasonably assured and the loan was recently originated on market based terms.The fair value measurement of the real estate loans is considered a Level 3 measurement as defined in ASC 820.Long-term Debt The fair value of the Senior Notes are estimated based on quoted prices in active markets and as such are Level 1 measurements as defined under ASC 820.  The fair value of the obligations in our Amended Credit Agreement is based on indicative pricing from market information (Level 2 inputs). 

97

The estimated fair values of the Company’s financial instruments are as follows (in thousands): December 31, 2024December 31, 2023 CarryingAmountFairValueCarryingAmountFairValueFinancial assets:    Cash and cash equivalents$462,632 $462,632 $683,983 $683,983 Investment securities held to maturity560,832 561,154 — — Investment in leases, financing receivables, net2,333,114 2,087,705 2,023,606 1,969,326 Investment in leases, sales type lease254,821 280,970 — — Real estate loans, net160,590 164,750 39,036 40,299 Deferred compensation plan assets38,948 38,948 32,894 32,894 Financial liabilities:    Long-term debt:    Credit Agreement and Term Loan Credit Facility932,455 932,455 600,000 600,000 Senior unsecured notes6,875,000 6,665,565 6,075,000 5,816,919 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

As discussed in Note 1, during the year ended December 31, 2024, the Company amended the T