Fair Value |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Fair Value Disclosures [Abstract] | |
| Fair Value | Fair Value The Company estimates the fair value of financial instruments using available market information and valuation methodologies the Company believes to be appropriate for these purposes. Considerable judgment and a high degree of subjectivity are involved in developing these estimates and, accordingly, they are not necessarily indicative of amounts the Company would realize upon disposition. The fair value hierarchy consists of three broad levels of inputs that may be used to measure fair value, which are described below: Level 1. Quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2. Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and Level 3. Assets or liabilities for which fair value is based on valuation models with significant unobservable pricing inputs and which result in the use of management estimates. The Company’s financial instruments may consist of Level 1, Level 2 and Level 3 valuations. As of March 31, 2026 and December 31, 2025, the Company’s cash equivalents of $4,274 and $4,241, respectively, were Level 1 assets and included savings deposits, overnight investments, and other liquid funds with financial institutions. The Company’s Term Debt (as described below) is carried at amortized cost, with a carrying value of $97,592 as of March 31, 2026 and $97,578 as of December 31, 2025. The carrying value of the Company's long-term debt with fixed interest rates approximates fair value based on instruments with similar terms (Level 2), as of March 31, 2026.
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