v3.24.3
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2024
FAIR VALUE OF FINANCIAL INSTRUMENTS  
Schedule of carrying value and estimated fair value of financial instruments

The following table presents the carrying value and estimated fair value of the Company’s financial instruments not carried at fair value on the consolidated balance sheets at September 30, 2024 and December 31, 2023 (in thousands):

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September 30, 2024

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December 31, 2023

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Carrying Value

    

Estimated Fair Value

    

Carrying Value

    

Estimated Fair Value

Cash and Cash Equivalents - Level 1

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$

8,172

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$

8,172

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$

10,214

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$

10,214

Restricted Cash - Level 1

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$

1,696

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$

1,696

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$

7,605

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$

7,605

Commercial Loans and Investments - Level 2

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$

103,014

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$

106,799

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$

61,849

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$

63,261

Long-Term Debt - Level 2

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$

526,838

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$

510,842

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$

495,370

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$

473,807
Schedule of fair value of assets measured on recurring basis by Level

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The following table presents the fair value of assets measured on a recurring basis by level as of September 30, 2024 and December 31, 2023 (in thousands). See Note 16, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps.

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Fair Value at Reporting Date Using

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Fair Value

    

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

    

Significant Other Observable Inputs
(Level 2)

    

Significant Unobservable Inputs
(Level 3)

September 30, 2024

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Cash Flow Hedge - 2026 Term Loan Interest Rate Swaps

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$

902

    

$

—

    

$

902

    

$

—

Cash Flow Hedge - 2027 Term Loan Interest Rate Swaps

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$

2,984

    

$

—

    

$

2,984

    

$

—

Cash Flow Hedge - 2028 Term Loan Interest Rate Swaps

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$

(3,034)

    

$

—

    

$

(3,034)

    

$

—

Cash Flow Hedge - 2029 Term Loan Interest Rate Swaps

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$

(337)

    

$

—

    

$

(337)

    

$

—

Cash Flow Hedge - Credit Facility Interest Rate Swaps

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$

(920)

    

$

—

    

$

(920)

    

$

—

Investment Securities

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$

42,997

    

$

42,997

    

$

—

    

$

—

December 31, 2023

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Cash Flow Hedge - 2026 Term Loan Interest Rate Swaps

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$

2,813

    

$

—

    

$

2,813

    

$

—

Cash Flow Hedge - 2027 Term Loan Interest Rate Swaps

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$

5,759

    

$

—

    

$

5,759

    

$

—

Cash Flow Hedge - 2028 Term Loan Interest Rate Swaps

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$

(1,994)

    

$

—

    

$

(1,994)

    

$

—

Cash Flow Hedge - Credit Facility Interest Rate Swaps

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$

313

    

$

—

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$

313

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$

—

Investment Securities

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$

39,445

    

$

39,445

    

$

—

    

$

—

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