Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS

v3.19.3
FAIR VALUE MEASUREMENTS
12 Months Ended
Sep. 30, 2019
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS:

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three level fair value hierarchy is used to prioritize the inputs used in valuations, as defined below:

Level 1:                         Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities in active markets.
Level 2:                          Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.
Level 3:                         Unobservable inputs for the asset or liability.


As of September 30, 2019 and 2018, the fair values of the Company's assets and liabilities measured on a recurring basis were categorized as follows:
 
September 30, 2019
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets:
 
 
 
 
 
 
 
Derivatives (1)
$

 
$
845

 
$

 
$
845

Equity and fixed income mutual funds

 
22,986

 

 
22,986

Life insurance policies

 
4,030

 

 
4,030

Total assets at fair value
$

 
$
27,861

 
$

 
$
27,861

 
 
 
 
 
 
 
 
Liabilities:
 

 
 

 
 

 
 

   Derivatives (1)
$

 
$
1,379

 
$

 
$
1,379

Total liabilities at fair value
$

 
$
1,379

 
$

 
$
1,379

 
 
 
 
 
 
 
 
(1) Interest rate swaps are valued based on observable market swap rates and are classified within Level 2 of the fair value hierarchy.

 
September 30, 2018
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets:
 
 
 
 
 
 
 
Derivatives (1)
$

 
$
11,309

 
$

 
$
11,309

Equity and fixed income mutual funds

 
22,758

 

 
22,758

Life insurance policies

 
5,894

 

 
5,894

Total assets at fair value
$

 
$
39,961

 
$

 
$
39,961

 
 
 
 
 
 
 
 
Liabilities:
 

 
 

 
 

 
 

   Derivatives (1)
$

 
$

 
$

 
$

Total liabilities at fair value
$

 
$

 
$

 
$

 
 
 
 
 
 
 
 
(1) Interest rate swaps are valued based on observable market swap rates and are classified within Level 2 of the fair value hierarchy.