Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

v2.4.0.8
Fair Value Measurements
6 Months Ended
Mar. 31, 2014
Fair Value Measurements [Abstract]  
Fair Value Measurements
Note 3.   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:

 
 
March 31, 2014
   
September 30, 2013
 
 
 
Level 1
   
Level 2
   
Level 3
   
Total
   
Level 1
   
Level 2
   
Level 3
   
Total
 
Assets:
 
   
   
   
   
   
   
   
 
Derivatives (1)
 
$
-
   
$
3,850
     
-
   
$
3,850
   
$
-
   
$
3,736
     
-
   
$
3,736
 
Trading securities
 
$
18,879
     
-
     
-
   
$
18,879
   
$
17,929
     
-
     
-
   
$
17,929
 
Total assets at fair value
 
$
18,879
   
$
3,850
     
-
   
$
22,729
   
$
17,929
   
$
3,736
     
-
   
$
21,665
 
 
                                                               
Liabilities:
                                                               
Derivatives (1)
   
-
   
$
3,403
     
-
   
$
3,403
     
-
   
$
4,644
     
-
   
$
4,644
 
Total liabilities at fair value
   
-
   
$
3,403
     
-
   
$
3,403
     
-
   
$
4,644
     
-
   
$
4,644
 

(1) Interest rate swaps are valued based on observable market swap rates.