XML 59 R46.htm IDEA: XBRL DOCUMENT v3.25.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Interest Rate Swap Designated as Cash Flow Hedges of Interest Rate Risk

The following table sets forth information regarding the Company's interest rate swap that was designated as a cash flow hedge of interest risk for the year ended December 31, 2024:

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

Asset

 

Fair Value at December 31, 2024

 

 

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

 

 

Significant
Other
Observable
Inputs (Level 2)

 

 

Significant
Unobservable
Inputs (Level 3)

 

Interest rate swap

 

$

514

 

 

$

—

 

 

$

514

 

 

$

—

 

The following table sets forth information regarding the Company's interest rate swap that was designated as a cash flow hedge of interest risk for the year ended December 31, 2023:

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

Asset

 

Fair Value at December 31, 2023

 

 

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

 

 

Significant
Other
Observable
Inputs (Level 2)

 

 

Significant
Unobservable
Inputs (Level 3)

 

Interest rate swap

 

$

338

 

 

$

—

 

 

$

338

 

 

$

—

 
Schedule of Debt Securities, Available-for-sale Measured at Fair Value The below table sets forth information regarding the Company’s AFS securities that were measured at fair value. Subsequent to December 31, 2024, the Company redeemed U.S. Treasury securities. See Note 18 for more information.

U.S. Treasury securities

 

December 31, 2024

 

 

December 31, 2023

 

Amortized cost (1)

 

$

242,881

 

 

$

261,869

 

Allowance for credit losses (2)

 

 

—

 

 

 

—

 

Total unrealized gain

 

 

267

 

 

 

273

 

Fair value (3)

 

$

243,148

 

 

$

262,142

 
(1)
The U.S. Treasury securities have maturities through December 2025.
(2)
U.S Treasury securities have a long history with no credit losses. Additionally, the Company notes that U.S Treasury securities are explicitly fully guaranteed by a sovereign entity that can print its own currency and that the sovereign entity’s currency is routinely held by central banks and other major financial institutions, is used in international commerce, and commonly viewed as a reserve currency, all of which quantitatively indicate that historical credit loss information should be minimally affected by current conditions and reasonable and supportable forecasts. Therefore, the Company did not record expected credit losses for its U.S Treasury securities for the years ended December 31, 2024 and 2023.
(3)
The fair value was calculated using Level 1 inputs.