Company: LXP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000910108-25-000041
Chunk: 31

Company: LXP Industrial Trust
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 31
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 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 used in determining the fair value could be categorized as Level 2 if trading volumes are low.Fair values cannot be determined with precision, may not be substantiated by comparison to quoted prices in active markets and may not be realized upon sale. Additionally, there are inherent uncertainties in any fair value measurement technique, and changes in the underlying assumptions used, including discount rates, liquidity risks and estimates of future cash flows, could significantly affect the fair value measurement amounts.Cash Equivalents, Restricted Cash, Accounts