Derivative Instruments |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Derivative Instruments [Abstract] | |
| Derivative Instruments | Note 10 - Derivative Instruments
The Company has entered into an equity-linked decumulator contract with a financial institution to manage exposure to certain market positions and investment strategies. The Company has also entered into over the counter ("OTC") vanilla foreign exchange ("FX") option contracts and OTC Barrier FX option contracts to manage its exposure to fluctuations in foreign currency exchange rates associated with certain forecasted transactions and foreign currency-denominated assets and liabilities. These contracts are accounted for as derivative instruments under ASC 815 and are recorded at fair value. Changes in fair value are recognized currently in earnings within other income (expense). The fair value of the decumulator contracts is estimated using valuation models that incorporate significant assumptions, including expected volatility, market price movements, contractual settlement features, and discount rates. The fair value of the Company's OTC vanilla FX option contracts and OTC Barrier FX option contracts is determined using option pricing models that incorporate the contractual terms of the options and current market data, including forward foreign exchange rates, implied exchange volatilities, and interest rate yield curves. The valuation of OTC Barrier FX options also incorporates the probability of the barrier condition being triggered over the remaining life of each contract. As of June 30, 2026, the Company recorded a derivative liability of $2,936,073 associated with these contracts. |