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FAIR VALUE MEASUREMENTS AND INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2025

FAIR VALUE MEASUREMENTS AND INVESTMENTS

Schedule of assets and liabilities of the entity measured at fair value on a recurring basis

Assets and liabilities of the Company measured at fair value on a recurring basis as of September 30, 2025 and December 31, 2024 are summarized as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2025

​

​

Significant Other

​

​

Quoted Prices in

​

Observable

​

Unobservable

​

​

​

​

​

Active Markets

​

Inputs

​

Inputs

​

​

​

Description

​

(Level 1)

​

(Level 2)

​

(Level 3)

​

Total

Short term investments

​

$

395

​

$

—

​

$

—

​

$

395

Employee benefit plan investments

​

​

2,327

​

​

—

​

​

—

​

​

2,327

Interest rate swap

​

​

—

​

​

(356)

​

​

—

​

​

(356)

Alloy redeemable common units (1)

​

​

—

​

​

—

​

​

(14,101)

​

​

(14,101)

Warrants on Alaska Communications redeemable common units

​

​

—

​

​

—

​

​

—

​

​

—

Total assets and liabilities measured at fair value

​

$

2,722

​

$

(356)

​

$

(14,101)

​

$

(11,735)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

Significant Other

​

​

Quoted Prices in

​

Observable

​

Unobservable

​

​

​

​

​

Active Markets

​

Inputs

​

Inputs

​

​

​

Description

​

(Level 1)

​

(Level 2)

​

(Level 3)

​

Total

Short term investments

​

$

300

​

$

—

​

$

—

​

$

300

Employee benefit plan investments

​

​

2,768

​

​

—

​

​

—

​

​

2,768

Interest rate swap

​

​

—

​

​

(723)

​

​

—

​

​

(723)

Warrants on Alaska Communications redeemable common units

​

​

—

​

​

—

​

​

(249)

​

​

(249)

Total assets and liabilities measured at fair value

​

$

3,068

​

$

(723)

​

$

(249)

​

$

2,096

​

(1) Represents redeemable common units in Alloy, Inc. (“Alloy”), the parent company of the Company’s operations in the western United States. The units were carried at fair value at September 30, 2025 and historical cost at December 31, 2024.

Schedule of investments

As of September 30, 2025, the Company’s investments were all accounted for under the measurement alternative for investments without a readily determinable value. A roll forward of the investments is set forth below (in thousands)

​

​	​	​	​	​	​	​	​	​	​
​	​	Investments without a readily determinable fair value		​	Fair value investments		​	Total
Balance, December 31, 2024 and September 30, 2025	​	$	41,956	​	$	—	​	$	41,956
​	​	​	​	​	​	​	​	​	​
Balance, December 31, 2023	​	$	41,710	​	$	1,197	​	$	42,907
Income recognized	​	​	47	​	​	195	​	​	242
Distributions	​	​	—	​	​	(602)	​	​	(602)
Sale of investment	​	​	—	​	​	(790)	​	​	(790)
Balance, September 30, 2024	​	$	41,757	​	$	—	​	$	41,757

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- References

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- Definition

Tabular disclosure of investment.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/320/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Topic 321
-Publisher FASB
-URI https://asc.fasb.org/321/tableOfContent

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Topic 325
-Publisher FASB
-URI https://asc.fasb.org/325/tableOfContent

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-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

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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