XML 31 R20.htm IDEA: XBRL DOCUMENT v3.25.3
Fair Value
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Fair Value
Fair Value Measurements
Recurring Fair Value Measurements
Financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2025 and December 31, 2024 were as follows (in thousands):
September 30, 2025December 31, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Liabilities:
Contingent Consideration— — 1,911 1,911 — — 1,942 1,942 
Total$— $— $1,911 $1,911 $— $— $1,942 $1,942 
Contingent consideration is included within Other noncurrent liabilities on the condensed consolidated balance sheets (unaudited). Refer to Note 17 — “Commitments and Contingencies” for additional information about contingent consideration.
Other Fair Value Disclosures for Financial Instruments
HUF Funds - restricted cash and Certificates of Deposit - Restricted are presented on the Restricted cash line item of the Company’s condensed consolidated balance sheets (unaudited) and are valued at amortized cost, which approximates fair value.
The Company’s line of credit is presented as a separate line item within the other liabilities section of the condensed consolidated balance sheets (unaudited) and is valued at amortized cost, which approximates fair value due to its variable interest rate that resets daily based on the daily simple SOFR plus a 2.1% spread. Refer to Note 10 — “Debt” for additional information about the line of credit.
The fair value of outstanding long-term debt is estimated based on interest rates considered available for instruments of similar terms and remaining maturities. Certain premium costs associated with the early settlement of long-term debt are not taken into consideration in determining fair value. These fair value measurements are classified within Level 2 of the fair value hierarchy. The carrying amount and estimated fair values of these financial instruments were as follows (in thousands):
September 30, 2025December 31, 2024
Carrying Amount
Fair Value
Carrying Amount
Fair Value
Long-term debt
$116,797 $117,501 $118,518 $118,702