PS Business Parks, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Derivative Financial Instruments (Tables)

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2022				Notional Amounts
		Asset1		Liability2					Strike		Maturity Date
Undesignated derivatives:
Interest rate caps - purchased	2	$	54,121	$	—		$	3,592,215	3.85	%	August 2024
Interest rate cap - sold	1	—		54,121			$	3,592,215	3.85	%	August 2024
Interest rate swap - purchased	1	83,607		—			$	3,592,215	3.10	%	August 2024
Total fair value of derivatives		$	137,728	$	54,121

____________________________

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