Note 5 - Fair Value of Financial Instruments |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Notes to Financial Statements | |
| Fair Value Disclosures [Text Block] |
Note 5. Fair Value of Financial Instruments
The estimated fair value amounts have been determined by the Company using the methods and assumptions described below. However, considerable judgment is required to interpret market data to develop estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.
Cash and Cash Equivalents
Cash and cash equivalents are, by definition, short-term. Thus, the carrying amount is a reasonable estimate of fair value.
Accounts Receivable
The fair value of accounts receivable approximates their carrying value due to their short-term nature.
Long-Term Debt
The Company's 2032 Notes bear interest at a rate of 7.625% per year. As of March 31, 2025, the fair value approximated $306.1 million, with a carrying value of $300.0 million.
The Company’s 2026 Notes were retired at par on February 20, 2025. As of December 31, 2024, the fair value of the 2026 Notes approximated $251.2 million, with a carrying value of $250.0 million.
See Note 11, “Notes Payable and Long-Term Debt”, for further information regarding the Company’s long-term debt. |