Company: PAMT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001437749-25-015763
Chunk: 19

Company: PAMT CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 be used to measure fair value:
    
     Level 1:  Quoted market prices in active markets for identical assets or liabilities. 
      
  Level 2:  Inputs other than Level 1 inputs that are either directly or indirectly observable such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable; or other inputs not directly observable, but derived principally from, or corroborated by, observable market data. 
     
  Level 3:  Unobservable inputs that are supported by little or no market activity. 

   The Company utilizes the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.
    
   At  March 31, 2025, the following items are measured at fair value on a recurring basis:

       Total    Level 1    Level 2    Level 3  
   (in thousands)  
                 
 Marketable equity securities  $45,584  $45,584   -   - 

   The Company’s investments in marketable securities are recorded at fair value based on quoted market prices. The carrying value of other financial instruments, including cash, accounts receivable, accounts payable, and accrued liabilities approximate fair value due to their short maturities.
    
   The carrying amount for the line of credit approximates fair value because the line of credit interest rate is adjusted frequently.
    
   For long-term debt other than the lines of credit, the fair values are estimated using discounted cash flow analyses, based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. The carrying value and estimated fair value of this other long-term debt at  March 31, 2025 was as follows:

       Carrying Value    Estimated Fair Value  
   (in thousands)  
         
 Long-term debt  $309,238  $303,683 

   The Company has not elected the fair value option for any of its financial instruments.

   NOTE K: NOTES PAYABLE
   During the first three months of 2025, the Company’s subsidiaries did not enter into any new installment obligations.

   NOTE L: LITIGATION
   We are involved in certain claims and pending litigation arising from the ordinary conduct