InvenTrust Properties Corp. Fair Value Disclosure
| Fair Value Measurements as of | |||||||||||||||||||||||||||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||||||||||||||||||||||||||
Cash Flow Hedges: (a) (b) | Level 1 | Level 2 (c) | Level 3 | Level 1 | Level 2 (c) | Level 3 | |||||||||||||||||||||||||||||
| Derivative interest rate swap assets | $ | — | $ | 5,196 | $ | — | $ | — | $ | 14,426 | $ | — | |||||||||||||||||||||||
| Derivative interest rate swap liabilities | $ | — | $ | (435) | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||||||||||||||||||||||||||
| Carrying Value | Estimated Fair Value | Market Interest Rate | Carrying Value | Estimated Fair Value | Market Interest Rate | ||||||||||||||||||||||||||||||
| Mortgages payable | $ | 117,605 | $ | 111,945 | 6.09 | % | $ | 93,380 | $ | 87,576 | 6.64 | % | |||||||||||||||||||||||
| Senior notes | 250,000 | 248,320 | 5.24 | % | 250,000 | 236,480 | 6.23 | % | |||||||||||||||||||||||||||
| Term loans | 400,000 | 398,701 | 4.64 | % | 400,000 | 400,170 | 5.29 | % | |||||||||||||||||||||||||||
| Revolving line of credit | 55,000 | 54,957 | 4.37 | % | — | — | N/A | ||||||||||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 12, 2026 | Showing above |
| 2024 | Feb 13, 2025 | |
| 2023 | Feb 14, 2024 | |
| 2022 | Feb 21, 2023 | |
| 2021 | Feb 15, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 21, 2020 | |
| 2018 | Mar 7, 2019 | |
| 2017 | Mar 7, 2018 | |
| 2016 | Mar 17, 2017 | |
| 2015 | Mar 18, 2016 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.