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FAIR VALUE MEASUREMENTS
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The following tables summarize our financial assets and liabilities carried at fair value, all of which were valued from readily available prices or using inputs based upon quoted prices for similar instruments in active markets (known as "Level 1" and "Level 2" inputs, respectively, in the fair value hierarchy established by the FASB Topic, Fair Value Measurements and Disclosures). As of September 30, 2024 and December 31, 2023 we had no "Level 3" inputs.

Available-For-Sale Securities

Investments in available-for-sale securities are presented in Other assets in the Condensed Consolidated Balance Sheets with contractual maturities ranging from 0 to 5 years.
(in thousands)
Available-for-sale securitiesSeptember 30, 2024Level 1Level 2
Corporate notes and bonds$5,190 $5,190 $— 
Mutual funds— — — 
United States Government and agency securities1,343 1,343 — 
Total fair value of available-for-sale securities$6,533 $6,533 $— 

(in thousands)
Available-for-sale securitiesDecember 31, 2023Level 1Level 2
Corporate notes and bonds$3,144 $3,144 $— 
Mutual funds3 — 3 
United States Government and agency securities3,906 3,906 — 
Total fair value of available-for-sale securities$7,053 $7,050 $3 

Senior Notes

See Note 14 to the Condensed Consolidated Financial Statements for a discussion of the Senior Notes. The fair value of the Senior Notes is based on readily available quoted market prices as of September 30, 2024.

(in thousands)September 30, 2024
Senior NotesCarrying ValueEstimated Fair Value
8.125% Senior Notes due 2026 ('BWSN')
$193,035 $180,295 
6.50% Senior Notes due 2026 ('BWNB')
$151,440 $128,421 
Other Financial Instruments

We used the following methods and assumptions in estimating our fair value disclosures for our other financial instruments:

•Cash and cash equivalents and restricted cash. The carrying amounts that have been reported in the accompanying Condensed Consolidated Balance Sheets for cash and cash equivalents and restricted cash and cash equivalents approximate their fair values due to their highly liquid nature.
•Loans payable. We base the fair values of debt instruments on quoted market prices. Where quoted prices are not available, we base the fair values on Level 2 inputs such as the present value of future cash flows discounted at estimated borrowing rates for similar debt instruments or on estimated prices based on current yields for debt issues of similar quality and terms. The fair value of the Loans payable approximated its carrying amount at September 30, 2024.