AVALON HOLDINGS CORP
For the period ended Dec 31, 2024. Filed Mar 20, 2025.
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FY2024 · Filed Mar 20, 2025
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EX-13.1 · Financial Instruments
Financial Instruments
The Company follows the guidance included in the Financial Accounting Standard Board (“FASB”) Accounting Standards Codification (“ASC”) 820,Fair Value Measurements and Disclosures, for its financial assets and liabilities. The fair value of financial instruments consisting of cash, cash equivalents, restricted cash, accounts receivable, and accounts payable at December 31, 2024 and 2023 approximates carrying value due to the relative short maturity of these financial instruments.
The fair value of the Company’s term loan approximates carrying value at December 31, 2024 and 2023, as neither the Company’s credit rating nor credit conditions have changed substantially since the debt was refinanced.
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