Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Summary of financial assets and liabilities measured at fair value on a recurring basis

The following table presents the valuation of the Company’s financial assets as of December 31, 2025 and 2024 measured at fair value on a recurring basis. The fair value estimates presented herein are based on information available to management as of December 31, 2025 and 2024. These estimates are not necessarily indicative of the amounts the Company could ultimately realize. The Company had no financial liabilities as of December 31, 2025 and 2024 measured at fair value on a recurring basis.


(in thousands)	Level 1		Level 2		Level 3
December 31, 2025
Assets
Interest rate swap agreements - short term	—		104		—
Total assets measured at fair value	$	—	$	104	$	—


(in thousands)	Level 1		Level 2		Level 3
December 31, 2024
Assets
Interest rate swap agreements - short term	$	—	$	2,898	$	—
Interest rate swap agreements - long term	—		132		—
Total assets measured at fair value	$	—	$	3,030	$	—

Reconciliation of contingent consideration liabilities

A reconciliation of the Company’s contingent consideration liabilities related to acquisitions for the year ended December 31, 2024 is as follows (in thousands):


Year Ended December 31, 2024	Beginning Balance		Additions		Payments		Change in Fair Value		Other activity		Ending Balance
Contingent consideration - Level 3 liabilities	$	6,850	$	—	$	(6,850)	$	—	$	—	$	—