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Fair Value of Financial Assets and Liabilities (Tables) | 9 Months Ended
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Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Summary of Assets and Liabilities Recorded and Measured at Fair Value | The following table summarizes the Company’s assets and liabilities, recorded and measured at fair value, in the Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022:
Description |  | Balance as of September 30, 2023 |  |  | Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 230 |  |  | $ | — |  |  | $ | 230 |  |  | $ | — |
Total assets |  | $ | 230 |  |  | $ | — |  |  | $ | 230 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 69 |  |  | $ | — |  |  | $ | 69 |  |  | $ | — |
Supplemental profit sharing plan |  |  | 7,494 |  |  |  | — |  |  |  | 7,494 |  |  |  | — |
Total liabilities |  | $ | 7,563 |  |  | $ | — |  |  | $ | 7,563 |  |  | $ | — |
Description |  | Balance as of December 31, 2022 |  |  | Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 534 |  |  | $ | — |  |  | $ | 534 |  |  | $ | — |
Total assets |  | $ | 534 |  |  | $ | — |  |  | $ | 534 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 81 |  |  | $ | — |  |  | $ | 81 |  |  | $ | — |
Supplemental profit sharing plan |  |  | 7,299 |  |  |  | — |  |  |  | 7,299 |  |  |  | — |
Total liabilities |  | $ | 7,380 |  |  | $ | — |  |  | $ | 7,380 |  |  | $ | — |
Fair Value and Carrying Value of Long-Term Debt | . Based on the analysis performed, the fair value and the carrying value of the Company’s long-term debt are as follows:
|  | September 30, 2023 |  |  | December 31, 2022 |
|  | Fair Value |  |  | Carrying Value |  |  | Fair Value |  |  | Carrying Value |
Long-term debt and related current maturities |  | $ | 46,075 |  |  | $ | 51,949 |  |  | $ | 68,054 |  |  | $ | 71,438 |

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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