FAIR VALUE MEASUREMENTS |
9 Months Ended | ||||||||||||||||||||||||||||||
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Sep. 30, 2025 | |||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||
| FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS Factors used in determining the fair value of our financial assets and liabilities are summarized into three broad categories: •Level 1 - quoted prices in active markets for identical securities; •Level 2 - other significant observable inputs, including quoted prices for similar securities, interest rates, prepayment spreads, credit risk; and •Level 3 - significant unobservable inputs, including our own assumptions in determining fair value. There were no changes to our valuation techniques during the nine months ended September 30, 2025. Impairment Considerations Approaches used by management to measure the fair value of indefinite-lived intangible assets, long-lived assets, definite-lived intangible assets and right-of-use assets for impairment evaluations are considered Level 3 fair value measurements. See Note 4 - Intangible Assets for discussion of definite-lived intangible assets impairment charges in the three and nine months ended September 30, 2025. See Note 6 – Leases for discussion of right-of-use assets impairment charges in the three and nine months ended September 30, 2025. In determining impairment charges for assets held for sale, the fair value used by management was based on the estimated sales proceeds less cost to sell, which is considered a Level 2 fair value measurement. See Note 5 - Dispositions and Assets Held for Sale for discussion of assets held for sale impairment charges in the nine months ended September 30, 2025. Warrants Our warrants were recorded at fair value at the end of each reporting period and transaction date with changes in fair value recorded in our statements of operations and comprehensive loss. Level 3 Disclosures Changes in the level 3 warrant liability for the nine months ended September 30, 2025 were as follows:
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