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Fair Value Measurement:
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurement:

5.

Fair Value Measurement:

 

The following tables present our financial assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value.

 

 

 

 

 

 

Fair Value Measurements at June 30, 2026

 

 

 

Total

 

 

Quoted Prices in Active Markets for Identical Assets
(Level 1)

 

 

Significant Other Observable Inputs
(Level 2)

 

 

Significant Unobservable Inputs
(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Short-term investments

$

41,642

 

$

3,680

 

$

37,962

 

$

—

 

Interest rate swaps

 

1,651

 

 

—

 

 

1,651

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets

$

43,293

 

$

3,680

 

$

39,613

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

$

10

 

$

—

 

$

10

 

$

—

 

Foreign currency forward exchange contracts not accounted for using hedge accounting

 

428

 

 

—

 

 

428

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Liabilities

$

438

 

$

—

 

$

438

 

$

—

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2025

 

 

 

Total

 

 

Quoted Prices in Active Markets for Identical Assets
(Level 1)

 

 

Significant Other Observable Inputs
(Level 2)

 

 

Significant Unobservable Inputs
(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Short-term investments

$

137,093

 

$

3,801

 

$

133,292

 

$

—

 

Interest rate swaps

 

1,597

 

 

—

 

 

1,597

 

 

—

 

Foreign currency forward exchange contracts not accounted for using hedge accounting

 

498

 

 

—

 

 

498

 

 

—

 

Foreign currency forward exchange contracts accounted for using hedge accounting

 

169

 

 

—

 

 

169

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets

$

139,357

 

$

3,801

 

$

135,556

 

$

—

 

 

The carrying amount of cash and cash equivalents, accounts receivable, other receivables, accounts payable and accrued expenses approximate fair value due to the short terms to maturity of these instruments. The carrying amount of loans payable approximates fair value as the interest rates on the Company’s indebtedness approximate current market rates. The fair value of the Company’s long-term debt was estimated based on the current rates offered to companies for debt with the same remaining maturities and is approximately equal to its carrying value.

 

Foreign currency forward exchange contracts are valued based on quotations from financial institutions and the value of interest rate swaps is the discounted net present value of the swaps using third party quotes from financial institutions.