Fair Value Measurements |
12 Months Ended |
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Dec. 31, 2025 | |
| Fair Value Measurements [Abstract] | |
| Fair Value Measurements |
13. Fair Value Measurements
ASC 820, Fair
Value Measurement, defines fair value for financial assets and liabilities, establishes a framework for measuring fair value in GAAP, and expands disclosures about fair value measurements. As of December 31, 2025 and 2024, the Company’s
assets and liabilities subject to this standard are forward exchange contracts. The net fair value of the forward exchange contracts based on current pricing obtained for comparable derivative products (Level 2 inputs) was an asset of $0.3 million and a liability of $0.8 million
as of December 31, 2025 and 2024, respectively. The carrying values of the Company’s cash and cash equivalents, trade accounts receivable, trade accounts payable, accrued expenses, and short-term borrowings were approximately the same as the fair
values as of December 31, 2025. The fair value of the Company’s long-term debt, including current maturities, is estimated using discounted cash flows based on the Company’s current incremental borrowing rates for similar types of borrowing
arrangements (Level 2 inputs). The carrying value of the long-term debt at December 31, 2025 and 2024, was $709.5 million and $613.7 million, respectively. The fair value of the long-term debt at December 31, 2025 and 2024, was $720.9 million and $622.0 million, respectively.
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