Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments

v3.20.2
Fair Value of Financial Instruments
6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments

NOTE 19 - FAIR VALUE OF FINANCIAL INSTRUMENTS

 

The Company’s cash and cash equivalents are carried at fair value. The carrying value of financing receivables approximates fair value due to the interest rate implicit in the instruments approximating current market rates. The carrying value of accounts receivables, accounts payable and accrued liabilities and short term bank debt approximates their fair values due to the short period to maturity of these instruments. The fair value of the Company’s long term debt is based on observable relevant market information and future cash flows discounted at current rates, which are Level 2 measurements.

 

    June 30, 2020  
    Carrying Amount     Fair Value  
Long term debt   $ 28,142     $ 28,142