v3.26.1
FAIR VALUE MEASUREMENTS AND INVESTMENTS (Tables)
3 Months Ended
Mar. 31, 2026
FAIR VALUE MEASUREMENTS AND INVESTMENTS  
Schedule of assets and liabilities of the entity measured at fair value on a recurring basis

Assets and liabilities of the Company measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025 are summarized as follows (in thousands):

March 31, 2026

Significant Other

Quoted Prices in

Observable

Unobservable

Active Markets

Inputs

Inputs

Description

(Level 1)

(Level 2)

(Level 3)

Total

Short term investments

$

396

$

$

$

396

Employee benefit plan investments

2,251

2,251

Interest rate swap

486

486

Alloy redeemable common units (1)

(15,001)

(15,001)

Alloy contingent consideration (2)

(9,860)

(9,860)

Alaska Communications redeemable common units (3)

Warrants on Alaska Communications redeemable common units

Total assets and liabilities measured at fair value

$

2,647

$

486

$

(24,861)

$

(21,728)

December 31, 2025

  ​ ​ ​

Significant Other

Quoted Prices in

Observable

Unobservable

Active Markets

Inputs

Inputs

Description

(Level 1)

(Level 2)

(Level 3)

Total

Short term investments

$

395

$

$

$

395

Employee benefit plan investments

2,257

2,257

Interest rate swap

(545)

(545)

Alloy redeemable common units (1)

(15,000)

(15,000)

Alloy contingent consideration (2)

(9,545)

(9,545)

Alaska Communications redeemable common units (3)

Warrants on Alaska Communications redeemable common units

Total assets and liabilities measured at fair value

$

2,652

$

(545)

$

(24,545)

$

(22,438)

(1)Represents redeemable common units in Alloy, Inc. (“Alloy”), the parent company of the Company’s operations in the western US.
(2)Contingent consideration related to 2022 acquisition of Sacred Wind. Amounts are payable in 2026, 2027 and 2028.
(3)Represents redeemable common units in Alaska Communications.
Schedule of investments As of March 31, 2026, the Company’s investments were all accounted for under the measurement alternative for investments without a readily determinable value. A roll forward of the investments is set forth below (in thousands)

Investments without a readily determinable fair value

Fair value investments

Total

Balance, December 31, 2025

$

36,646

$

$

36,646

Impairments

(2,600)

(2,600)

Balance, March 31, 2026

$

34,046

$

$

34,046

Balance, December 31, 2024 and March 31, 2025

$

41,956

$

$

41,956