PS Business Parks, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The following is a summary of the Company’s derivative financial instruments:


		Successor
	Number of Instruments	Balance at September 30, 2022				Notional Amounts
		Asset1		Liability2					Strike		Maturity Date
Undesignated derivatives:
Interest rate caps - purchased	2	$	47,804	$	—		$	3,592,215	3.85	%	August 2024
Interest rate cap - sold	1	—		47,804			$	3,592,215	3.85	%	August 2024
Interest rate swap - purchased	1	68,993		—			$	3,592,215	3.10	%	August 2024
Total fair value of derivatives		$	116,797	$	47,804

____________________________

¹ Included in Prepaid expenses and other assets in the Consolidated Balance Sheets.

2 Included in Accounts payable, accrued expenses and other liabilities in the Consolidated Balance Sheets.

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details