v3.26.1
Note 5 - Fair Value of Financial Instruments
 3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

Note 5 - Fair Value of Financial Instruments

 

The carrying amounts of cash, accounts receivable, accounts payable, the line of credit and all other current assets and liabilities approximate fair values due to their short-term nature. The fair value of notes receivable approximates the amortized cost basis as adjusted by an allowance for credit losses as we believe the stated interest rates reflects the prevailing market rates given our unique collateral position and the scarce capital resources willing to finance a franchise. The fair value of the term loan payable approximates its carrying value because current rates for similar borrowings do not have a material impact. We maintain company-owned life insurance policies related to our nonqualified deferred compensation plan carried at their cash surrender value which approximates their fair value.

 

  

March 31, 2026

 

(in thousands)

  Total   Level 1   Level 2   Level 3 

Cash

 $1,015  $1,015  $-  $- 

Notes receivable

  6,921   -   6,921   - 

Accounts receivable

  44,668   -   44,668   - 

Investments related to deferred compensation plan

  273      273   - 

Total assets at fair value

 $52,877  $1,015  $51,862  $- 

 

  

December 31, 2025

 

(in thousands)

  Total   Level 1   Level 2   Level 3 

Cash

 $3,895  $3,895  $-  $- 

Notes receivable

  6,672   -   6,672   - 

Accounts receivable

  39,281   -   39,281   - 

Investments related to deferred compensation plan

  248   248   -   - 

Total assets at fair value

 $50,096  $4,143  $45,953  $-