Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 83

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 83
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 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  December 31, 2024 and 2023, the following items are measured at fair value on a recurring basis:

       2024    2023  
   Total    Level 1    Level 2    Level 3    Total    Level 1    Level 2    Level 3  
 Marketable equity securities  $42,620  $42,620   -   -  $43,203  $43,203   -   - 

   During 2024 and 2023, there were no transfers of marketable securities between levels of fair value measurement.
    
   The Company’s investments in marketable equity securities are recorded at fair value based on quoted market prices. The carrying value of cash and cash equivalents, accounts receivable, trade 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 values and estimated fair values of this other long-term debt at  December 31, 2024 and 2023 are summarized as follows:

       2024    2023  
   Carrying  Value    Estimated  Fair Value     Carrying  Value     Estimated  Fair Value  
   (in thousands)  
 Long-term