Note 11 - Fair Value Measurements |
3 Months Ended |
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Mar. 31, 2025 | |
| Notes to Financial Statements | |
| Fair Value Disclosures [Text Block] |
NOTE 11 – FAIR VALUE MEASUREMENTS
From time to time, we use derivative financial instruments to help manage our exposure to fluctuations in foreign currencies. Foreign exchange forward contracts are reported at fair value utilizing Level 2 inputs, as the fair value is based on broker quotes for the same or similar derivative instruments. Our foreign exchange derivative instruments are freestanding, and we have not designated them as hedges; accordingly, we have recorded changes in their fair market value in earnings. There were no outstanding forward foreign exchange contracts as of March 31, 2025 and December 31, 2024.
With the exception of long-term debt, the fair values of our financial instruments, including cash and cash equivalents, accounts receivable, trade accounts payable and accrued liabilities, approximate carrying value. The carrying value of our debt was $371 million and $387 million at March 31, 2025 and December 31, 2024, respectively. The fair value of our debt was $376 million and $394 million at March 31, 2025 and December 31, 2024, respectively. We estimate the fair value of our debt using Level 2 inputs or quoted market prices.
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