Company: BHR-PD
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001574085-25-000130
Chunk: 28

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 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)TotalSeptember 30, 2025AssetsCMBS$— $17,277 $— $17,277 (1)Derivative assets:Interest rate derivatives - caps— 164 — 164 (2)Total$— $17,441 $— $17,441 Quoted Market Prices (Level 1)Significant OtherObservable Inputs (Level 2)Significant Unobservable Inputs (Level 3)TotalDecember 31, 2024AssetsCMBS$— $41,535 $— $41,535 (1)Derivative assets:Interest rate derivatives - caps— 356 — 356 (2)Total$— $41,891 $— $41,891 __________________(1)Reported as “investment in securities” in our condensed consolidated balance sheet.(2)Reported as “derivative assets” in our condensed consolidated balance sheets.

16

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

Effect of Fair Value Measured Assets and Liabilities on Condensed Consolidated Statements of OperationsThe following table summarizes the effect of fair value measured assets and liabilities on our condensed consolidated statements of operations (in thousands):Gain (Loss) Recognized in IncomeThree Months Ended September 30,Nine Months Ended September 30,2025202420252024AssetsDerivative assets:Interest rate derivatives - caps$(118)$(735)$(301)$511 Total derivative assets$(118)$(735)$(301)$511 Non-derivative assets:Investment in securities$— $— $(1,250)$— Total$(118)$(735)$(1,551)$511 LiabilitiesDerivative liabilities:Warrants$— $— $— $12 Net$(118)$(735)$(1,551)$523 Total combinedInterest rate derivatives - caps$(299)$(1,746)$(850)$(3,710)Warrants— — — 12