Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of principal amount and estimated fair value of long-term debt

The principal amount and estimated fair value of our long-term debt are as follows (in thousands):

	March 31, 2022				December 31, 2021
	Principal		Fair		Principal		Fair
	Amount (1)		Value (2)		Amount (1)		Value (2)
MARAD Debt (matures February 2027)	$	44,930	$	46,688	$	48,850	$	52,481
2022 Notes (mature May 2022)		35,000		35,022		35,000		34,794
2023 Notes (mature September 2023)		30,000		29,693		30,000		29,054
2026 Notes (mature February 2026)		200,000		226,816		200,000		200,562
Total debt	$	309,930	$	338,219	$	313,850	$	316,891

(1) Principal amount includes current maturities and excludes any related unamortized debt issuance costs. See Note 5 for additional disclosures on our long-term debt.

(2) The estimated fair value of the 2022 Notes, the 2023 Notes and the 2026 Notes was determined using Level 1 fair value inputs under the market approach. The fair value of the MARAD Debt was estimated using Level 2 fair value inputs under the market approach, which was determined using a third-party evaluation of the remaining average life and outstanding principal balance of the indebtedness as compared to other obligations in the marketplace with similar terms.