Glatfelter Corp
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
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21. Fair Value of Financial Instruments
- FAIR VALUE OF FINANCIAL INSTRUMENTS
The amounts reported on the consolidated balance sheets for cash and cash equivalents, accounts receivable and short-term debt approximate fair value. The following table sets forth the carrying value and fair value of long-term debt as of December 31:
| 2023 | 2022 | |||
|---|---|---|---|---|
| In thousands | CarryingValue | FairValue | CarryingValue | FairValue |
| Revolving credit facility, due Sep. 2026 | $99,450 | $99,450 | $118,685 | $118,685 |
| 4.750% Senior Notes, due Oct. 2029 | 500,000 | 346,250 | 500,000 | 301,250 |
| 11.25% Term loan, due Mar 2029 | 271,215 | 282,586 | — | 188,998 |
| Term loan, due Feb 2024 | — | — | 193,588 | — |
| 2.05% Term Loan, due Mar 2023 | — | — | 1,423 | 1,418 |
| 1.30% Term Loan, due Jun 2023 | — | — | 762 | 754 |
| 1.55% Term Loan, due Sep 2025 | — | — | 3,594 | 3,430 |
| 1.10% Term Loan, due Mar 2024 | 1,005 | 993 | 4,848 | 4,721 |
| 0.57% Term Loan, due Jul 2023 | — | — | 21,332 | 20,932 |
| Total long-term debt | $871,670 | $729,279 | $844,232 | $640,188 |
The values set forth above are based on observable inputs and other relevant market data (Level 2). The fair value of financial derivatives is set forth below in Note 22 – “Financial Derivatives and Hedging Activities.”
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