Fair Value of Financial Instruments |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Fair Value Disclosures [Abstract] | |
| Fair Value of Financial Instruments | Note 11. Fair Value of Financial Instruments
During the six months ended June 30, 2026, there were no transfers between Level 1, Level 2 and Level 3. The Company uses quoted dealer prices for similar contracts in active over-the-counter markets for determining fair value of Level 2 liabilities. There were no changes to the valuation techniques used to measure liability fair values on a recurring basis during the six months ended June 30, 2026. The following methods and assumptions were used to estimate the fair value for which the fair value option was not elected: Cash, cash equivalents and restricted cash, short-term investments, receivables and trade accounts payable — The carrying amounts reported in the Condensed Balance Sheets approximate fair value due to the short-term nature of these assets and liabilities. Debt — The Company's outstanding debt is carried at cost. As of June 30, 2026 and December 31, 2025, there were no borrowings outstanding under the Amended ABL Facility, with $140.5 million available, net of outstanding letters of credit of $2.5 million. The estimated fair value of the Notes as of June 30, 2026 was approximately $157.7 million based upon observable market data (Level 2). |