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FAIR VALUE MEASUREMENTS
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The following tables summarize financial assets carried at fair value, all of which were valued from readily available prices (known as "Level 1" in the fair value hierarchy established by ASC 820, Fair Value Measurements and Disclosures).

Securities
(in thousands)March 31, 2025Level 1
Corporate notes and bonds$5,117 $5,117 
United States Government and agency securities1,752 1,752 
Total fair value of securities$6,869 $6,869 

(in thousands)December 31, 2024Level 1
Corporate notes and bonds$5,196 $5,196 
United States Government and agency securities1,598 1,598 
Total fair value of securities$6,794 $6,794 

Investments in securities are presented as $4.5 million in Other current assets and $2.4 million in Other assets as of March 31, 2025 in the Condensed Consolidated Balance Sheets with contractual maturities ranging from 0-5 years.

Senior Notes

See Note 12 above in the Condensed Consolidated Financial Statements for a discussion of our senior notes. The fair value of the senior notes is based on readily available quoted market prices (known as "Level 1") as of March 31, 2025:

(in thousands)March 31, 2025
Senior NotesCarrying ValueEstimated Fair Value
8.125% Senior Notes due 2026 ("BWSN")
$193,035 $163,308 
6.50% Senior Notes due 2026 ("BWNB")
$151,440 $112,247 
Other Financial Instruments

We used the following methods and assumptions in estimating fair value amounts for other financial instruments:

•Cash and cash equivalents and restricted cash and cash equivalents. The carrying amounts reported in the accompanying Condensed Consolidated Balance Sheets for cash and cash equivalents and restricted cash and cash equivalents approximate their fair value due to their highly liquid nature and classified as Level 1.
•Revolving Debt. We base the fair value of debt instruments on quoted market prices. Where quoted prices are not available, we base the fair value on Level 2 inputs such as the present value of future cash flows discounted at estimated borrowing rates for similar debt instruments or on estimated prices based on current yields for debt issues of similar quality and terms. The fair value of Revolving Debt was calculated at $121.1 million which is $2.3 million less than its carrying amount at March 31, 2025.