Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Measurements

Schedule of principal amount and estimated fair value of long-term debt

The principal amount and estimated fair value of our long-term debt are as follows (in thousands):

	December 31, 2024				December 31, 2023
	Principal		Fair		Principal		Fair
	Amount (1)		Value (2)		Amount (1)		Value (2)
2026 Notes (fully redeemed March 2024)	$	—	$	—	$	40,199	$	64,117
MARAD Debt (matures February 2027)		23,831		23,505		32,580		32,348
2029 Notes (mature March 2029)		300,000		319,500		300,000		315,987
Total debt	$	323,831	$	343,005	$	372,779	$	412,452

(1) Principal amount includes current maturities and excludes any related unamortized debt discount and debt issuance costs. See Note 7 for additional disclosures on our long-term debt.

(2) The estimated fair value was determined using Level 2 fair value inputs under the market approach, which was determined using quotes in inactive markets.