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Fair Values of Financial Instruments
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Values of Financial Instruments Fair Values of Financial Instruments
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Our valuation techniques require inputs that we categorize using the valuation hierarchy, which categorizes assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. The three levels are defined as follows:
Level 1 - Observable inputs such as quoted prices in active markets at the measurement date for identical, unrestricted assets or liabilities.
Level 2 - Other inputs that are observable directly or indirectly, such as quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability.
Level 3 - Unobservable inputs for which there is little or no market data and for which the Company makes its own assumptions about how market participants would price the assets and liabilities.
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The carrying values of cash, cash equivalents and restricted cash, trade receivables and accounts payable approximate fair value due to the short-term maturity of these items. These fair value estimates are considered Level 1 fair value estimates in the fair value hierarchy of fair value accounting.
The estimated fair value of our outstanding debt balances as of December 31, 2025 and 2024 is set forth below (in thousands):
20252024
Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
3.95% Senior Notes Due 2028
$482,505 $477,694 $482,505 $461,720 
5.15% Senior Notes Due 2029
344,895 348,032 344,895 336,490 
7.15% Senior Notes Due 2033
400,000 428,615 400,000 419,265 
Equipment Loans Due 2025— — 6,395 6,424 
Total debt$1,227,400 $1,254,341 $1,233,795 $1,223,899 
The fair values of the 2028 Notes, the 2029 Notes and the 2033 Notes at December 31, 2025 and 2024 are based on quoted market prices, which are considered Level 1 fair value estimates in the fair value hierarchy of fair value accounting. The borrowings outstanding under the Equipment Loans were paid off in full in June 2025.
The implied market rates of interest used to determine the fair value of our outstanding debt balances as of December 31, 2025 and 2024 are set forth below:
20252024
3.95% Senior Notes Due 2028
4.46 %5.49 %
5.15% Senior Notes Due 2029
4.89 %5.73 %
7.15% Senior Notes Due 2033
5.99 %6.42 %
Equipment Loans Due 2025— %5.28 %
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
We apply the provisions of the fair value measurement standard to our non-recurring, non-financial measurements including business combinations, as well as impairment related to goodwill and other long-lived assets. See Note 2 and Note 7 for additional information on the fair value measurement of our business combinations and impairment of goodwill.