Credit Facilities and Debt (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Future Annual Principal Maturities Under Note Agreement |
Future annual principal maturities under the Note Agreement are as follows (in thousands):
(1)
At December 31, 2023, the estimated present value of the Note Agreement amount was $12.7 million based on an estimated market rate of interest.
(2)
Due to the forbearance of interest until January 1, 2024, the effective rate on the Note Agreement is 2.9% per annum. Accordingly, we accrued interest expense of $0.1 million during 2023 associated with the difference between the effective interest rate and stated interest rate on the Note Agreement.
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