Quarterly report [Sections 13 or 15(d)]

Investments and Fair Value Measurements (Tables)

v3.26.1
Investments and Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Category of Financial Instruments Not Held at Fair Value

At March 31, 2026 and December 31, 2025, financial instruments that are not held at fair value are categorized in the table below:

 

 

March 31, 2026

 

 

December 31, 2025

 

 

Carrying
Amount

 

 

Fair
Value

 

 

Carrying
Amount

 

 

Fair
Value

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents(1)

 

$

11,641

 

 

$

11,641

 

 

$

44,069

 

 

$

44,069

 

Investments(2)

 

$

2,850

 

 

$

2,850

 

 

$

1,030

 

 

$

1,030

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Borrowings under credit facility(3)

 

$

10,010

 

 

$

10,010

 

 

$

4,023

 

 

$

4,023

 

 

(1)
Includes $1,649 and $1,634 of cash equivalents at March 31, 2026 and December 31, 2025, respectively, that fall under Level 1 in the fair value hierarchy.
(2)
Investments consist of the Company’s equity method investments in an Australian trust and affiliated investment funds, which have been established and are managed by the Company and its affiliates. Fair value of investments is based on the net asset value of the investment in the Australian trust and affiliated investment funds, which is a practical expedient for fair value, which is not included in the fair value hierarchy under GAAP.
(3)
The carrying value of borrowings under the revolving credit agreement approximates fair value, which is determined based on interest rates currently available to the Company for similar debt.