Company: HFFG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001680873-25-000074
Chunk: 12

Company: HF Foods Group Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 12
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 of the reporting period in which the transfer occurs. There were no transfers between fair value levels in any of the periods presented herein.The carrying amounts reported in the condensed consolidated balance sheets for cash, accounts receivable, other current assets, accounts payable, checks issued not presented for payment and accrued expenses and other liabilities approximate their fair value based on the short-term maturity of these instruments.See Note 7 - Derivative Financial Instruments for additional information regarding the Company’s interest rate swaps. 

9

Carrying Value and Estimated Fair Value of Outstanding Debt - The following table presents the carrying value and estimated fair value of the Company’s outstanding debt as described in Note 8 - Long-Term Debt, including the current portion, as of the dates indicated:Fair Value Measurements(In thousands)Level 1Level 2Level 3Carrying ValueSeptember 30, 2025 Fixed rate debt:Bank of America$— $— $66 $70 Other financial  institutions— 2,433 — 2,587 Variable rate debt:JPMorgan Chase$— $97,277 $— $97,277 Bank of America$— $1,953 $— $1,953 East West Bank$— $5,377 $— $5,377 December 31, 2024Fixed rate debt:Bank of America$— $— $104 $113 Variable rate debt:JPMorgan Chase$— $101,040 $— $101,040 Bank of America$— $2,063 $— $2,063 East West Bank$— $5,518 $— $5,518 The carrying value of the variable rate debt approximates its fair value because of the variability of interest rates associated with these instruments. For the Company’s fixed rate debt, the fair values were estimated using discounted cash flow analyses, based on the current incremental borrowing rates for similar types of borrowing arrangements.See Note 8 - Long-Term Debt for additional information regarding the Company’s debt.Nonrecurring Fair ValuesThe Company measures fair value of certain assets on a nonrecurring basis when events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. No adjustments to fair value from the write-down of asset values due to impairment were made during the nine months ended September 30, 2025 and 2024.As further disclosed in Note