Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

v3.24.0.1
Fair Value Measurements
 3 Months Ended
Dec. 31, 2023
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.

The fair values of the Company's assets and liabilities measured on a recurring basis are categorized as follows:
  December 31, 2023 September 30, 2023
  Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
Assets:                
Derivatives (1)
$ —  $ 548  $ —  $ 548  $ —  $ 4,006  $ —  $ 4,006 
Equity and fixed income mutual funds —  713  —  713  —  699  —  699 
Life insurance policies —  5,038  —  5,038  —  4,926  —  4,926 
Total assets at fair value $ —  $ 6,299  $ —  $ 6,299  $ —  $ 9,631  $ —  $ 9,631 
Liabilities:                
Derivatives (1)
$ —  $ 8,712  $ —  $ 8,712  $ —  $ 2,766  $ —  $ 2,766 
Total liabilities at fair value $ —  $ 8,712  $ —  $ 8,712  $ —  $ 2,766  $ —  $ 2,766 
(1) Interest rate swaps and cross currency swaps are valued based on observable market swap rates and are classified within Level 2 of the fair value hierarchy.

The carrying values for other financial assets and liabilities approximated fair value at December 31, 2023 and September 30, 2023.