Quarterly report pursuant to Section 13 or 15(d)

Fair Value (Tables)

v3.23.3
Fair Value (Tables)
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table presents carrying values and estimated fair values of financial instruments:
September 30, 2023 December 31, 2022
Hierarchy Carrying Value Fair Value Carrying Value Fair Value
(dollars in thousands)
Liabilities:
Line of credit facility (1)
Level 2 $ 325,000  $ 325,000  $ 514,300  $ 514,300 
Senior notes (2)
Level 2 $ 250,000  $ 242,500  $ —  $ — 
(1)     Carrying amount approximates fair value due to the variable interest rate terms of these loans. Carrying value excludes any associated discounts or deferred loan costs.
(2)     Carrying amount, net of discount, approximates fair value due to the recency of the debt issuance. Carrying value excludes any associated discounts or deferred loan costs.
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table reconciles the beginning and ending balances for the Level 3 recurring fair value measurements during the periods presented:
Nine Months Ended September 30,
2023 2022
Warrant liability (dollars in thousands)
Beginning balance $ —  $ 9,185 
Changes in fair value —  7,315 
Repurchases of warrants —  (16,500)
Ending balance $ —  $ —