Company: GLPI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001575965-25-000045
Chunk: 125

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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 in the fair value from this date 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.Real Estate Loans, netThe fair value of the Company's real estate loans are estimated based on the present value of the loans' future cash flows using a discounted cash flow analysis.  The fair value of the loans is subject to fluctuations from changes in market interest rates at each reporting period and the fair value measurement is considered a Level 3 measurement as defined in 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 condensed consolidated balance sheets. Long-term Debt The fair value of the Senior Notes are estimated based on quoted prices in active markets and as such is a Level 1 measurement 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).

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The estimated fair values of the Company’s financial instruments are as follows (in thousands): September 30, 2025December 31, 2024 CarryingAmountFairValueCarryingAmountFairValueFinancial assets:    Cash and cash equivalents $751,715 $751,715 $462,632 $462,632 Investment securities held to maturity— — 560,832 561,154 Investment in leases, financing receivables, net2,312,640 2,056,101 2,333,114 2,087,705 Investment in leases, sales type, net248,325 282,422 254,821 280,970 Real estate loans, net176,882 189,706 160,590 164,750 Deferred compensation plan assets45,175 45,175 38,948 38,948 Financial liabilities:    Long-term debt:    Amended Credit Agreement and Term Loan Credit Facility932,455 932,455 932,455 932,455 Senior Notes6,350,000 6,288,016 6,875,000 6,665,565 Assets and Liabilities Measured at Fair Value on a Nonrecurring BasisThere were no assets or liabilities measured at fair