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Fair Value of Financial Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2024
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 June 30, 2024 and December 31, 2023:

Description

 

Balance as of
 June 30, 2024

 

 

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

 

$

158

 

 

$

—

 

 

$

158

 

 

$

—

 

Total assets

 

$

158

 

 

$

—

 

 

$

158

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

 

$

6

 

 

$

—

 

 

$

6

 

 

$

—

 

Supplemental profit sharing plan

 

 

9,248

 

 

 

—

 

 

 

9,248

 

 

 

—

 

Total liabilities

 

$

9,254

 

 

$

—

 

 

$

9,254

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Description

 

Balance as of December 31, 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

 

$

158

 

 

$

—

 

 

$

158

 

 

$

—

 

Total assets

 

$

158

 

 

$

—

 

 

$

158

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Supplemental profit sharing plan

 

 

8,222

 

 

 

—

 

 

 

8,222

 

 

 

—

 

Total liabilities

 

$

8,222

 

 

$

—

 

 

$

8,222

 

 

$

—

 
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:

 

 

 

June 30, 2024

 

 

December 31, 2023

 

 

 

Fair Value

 

 

Carrying Value

 

 

Fair Value

 

 

Carrying Value

 

Long-term debt and related current maturities

 

$

28,241

 

 

$

31,632

 

 

$

51,786

 

 

$

55,282