Fair Value |
3 Months Ended | ||
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Mar. 31, 2026 | |||
| Fair Value [Abstract] | |||
| Fair Value |
Accounting
Standards Codification 820, Fair Value Measurement, defines fair value for financial assets and liabilities, establishes a framework for measuring fair value in GAAP, and expands disclosures about fair
value measurements. The carrying values of the Company’s cash and cash equivalents, trade accounts receivable, trade accounts payable, accrued expenses, and short-term borrowings were approximately the same as the fair values as of March 31, 2026
and December 31, 2025. The net fair value of the forward exchange contracts based on current pricing obtained for comparable derivative products (Level 2 inputs) was an asset of $1.1
million and $0.3 million as of March 31, 2026 and December 31, 2025, respectively. The fair value of the Company’s long-term debt,
including current maturities, is estimated using discounted cash flows based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements (Level 2 inputs). The carrying value of the long-term debt at March 31,
2026 and December 31, 2025, was $767.8 million and $709.5 million, respectively. The fair value of the long-term debt at March 31, 2026 and December 31, 2025, was $776.6 million and $720.9 million, respectively.
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