v3.26.1
Note 8 - Fair Value Measurements
 12 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

8.   FAIR VALUE MEASUREMENTS

 

Accounting standards provide a comprehensive framework for measuring fair value and sets forth a definition of fair value and establishes a hierarchy prioritizing the inputs to valuation techniques, giving the highest priority to quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable value inputs. Levels within the hierarchy are defined as follows:

 

 

●

Level 1 – Quoted prices for identical assets and liabilities in active markets.

 

 

●

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the assets and liabilities, either directly or indirectly.

 

 

●

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities.

 

 

Recurring Fair Value Measurements

 

At  March 31, 2026, our financial assets and liabilities, measured at fair value on a recurring basis were as follows (in thousands):

 

   

Quoted Prices

                          
   

in Active

    

Significant

                  
   

Markets for

    

Other

    

Significant

          
   

Identical

    

Observable

    

Unobservable

          
   

Assets

    

Inputs

    

Inputs

          
   

(Level 1)

    

(Level 2)

    

(Level 3)

    

Total

  

Commodity futures – financial liabilities, net

   $ (273 )   $ —     $ —     $ (273 )

Contingent consideration for business combination - financial liability

     —       —     $ (2,160 )   $ (2,160 )

Total

   $ (273 )   $ —     $ (2,160 )   $ (2,433 )

 

At  March 31, 2025, our financial assets and liabilities, measured at fair value on a recurring basis were as follows (in thousands):

 

   

Quoted Prices

                          
   

in Active

    

Significant

                  
   

Markets for

    

Other

    

Significant

          
   

Identical

    

Observable

    

Unobservable

          
   

Assets

    

Inputs

    

Inputs

          
   

(Level 1)

    

(Level 2)

    

(Level 3)

    

Total

  

Commodity futures – financial assets, net

   $ 349     $ —     $ —     $ 349  

Total

   $ 349     $ —     $ —     $ 349  

 

At  March 31, 2026 and 2025, the Company did not have any fair value measurements on a non-recurring basis.