Company: BHR-PD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001574085-25-000051
Chunk: 98

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 98
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)$920 LiabilitiesDerivative liabilities:Warrants$— $12 Net$(198)$932 Total combinedInterest rate derivatives - caps$(386)$(751)Warrants— 12 Unrealized gain (loss) on derivatives$(386)(1)$(739)(1)Realized gain (loss) on interest rate caps188 (1) (2)1,671 (1) (2)Net$(198)$932 ________(1)Reported in “realized and unrealized gain (loss) on derivatives” in our condensed consolidated statements of operations.(2)Represents settled and unsettled payments from counterparties on interest rate caps.

The amortized cost of the CMBS at March 31, 2025 and December 31, 2024, was $42.3 million and $42.3 million, respectively. The unrealized gain (loss) recognized as a change in other comprehensive income (loss) for the three months ended March 31, 2025 and March 31, 2024 was $859,000 and $0, respectively.

15

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

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.The carrying amounts and estimated fair values of financial instruments were as follows (in thousands):March 31, 2025December 31, 2024CarryingValueEstimatedFair ValueCarryingValueEstimatedFair ValueFinancial assets measured at fair value:Investment in securities$42,394 $42,394 $41,535 $41,535 Derivative assets478 478 356 356 Financial assets not measured at fair value:Cash and cash equivalents$81,689 $81,689 $135,465 $135,465 Restricted cash54,546 54,546 49,592 49,592 Accounts receivable, net39,899 39,899 31,754 31,754 Note receivable8,434