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Note 4 - Fair Value of Financial Instruments
12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Fair Value Disclosures [Text Block]
NOTE
4
FAIR VALUE OF FINANCIAL INSTRUMENTS
 
The Company does
not
have significant assets and liabilities measured at fair value on a recurring basis under
applicable accounting standards as of the end of
2017.
The Company does have approximately
$23.7
million of Company-owned life insurance which is measured on readily determinable cash surrender value on a recurring basis. Due to the short maturity of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, their carrying values approximate fair value. As of
December 31, 2017,
the carrying value of the Company’s borrowings under its Syndicated Credit Facility approximates fair value as the Facility bears interest rates that are similar to existing market rates. The Company does hedge its interest rate exposure on
$100
million of borrowings on the Syndicated Credit Facility and this cash flow hedge is measured at fair value. See discussion of this instrument below in Note
8
entitled “Borrowings”.