XML 26 R15.htm IDEA: XBRL DOCUMENT v3.7.0.1
Fair Value of Financial Assets and Liabilities
3 Months Ended
Mar. 31, 2017
Fair Value Disclosures [Abstract]  
Fair Value of Financial Assets and Liabilities

NOTE H – FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

The carrying value of the Company’s current financial instruments, which include cash and cash equivalents, accounts receivable, accounts payable, notes payable, and short-term debt, approximates its fair value because of the short-term maturity of these instruments. At March 31, 2017, the fair value of the Company’s long-term debt was estimated using discounted cash flow analysis based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements which are considered to be Level 2 inputs. There have been no transfers in or out of Level 2 for the three months ended March 31, 2017.  Based on the analysis performed, the carrying value of the Company’s long-term debt approximates fair value at March 31, 2017 and December 31, 2016.