Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

v3.4.0.3
Fair Value Measurements
6 Months Ended
Mar. 31, 2016
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, 2016
   
September 30, 2015
 
   
Level 1
   
Level 2
   
Level 3
   
Total
   
Level 1
   
Level 2
   
Level 3
   
Total
 
Assets:
                                               
Derivatives (1)
 
$
-
   
$
152
   
$
-
   
$
152
   
$
-
   
$
-
   
$
-
   
$
-
 
Trading
   securities
   
19,001
     
-
     
-
     
19,001
     
18,444
     
-
     
-
     
18,444
 
Total assets at
   fair value
 
$
19,001
   
$
152
   
$
-
   
$
19,153
   
$
18,444
   
$
-
   
$
-
   
$
18,444
 
                                                                 
Liabilities:
                                                               
Derivatives (1)
 
$
-
   
$
5,898
   
$
-
   
$
5,898
   
$
-
   
$
3,686
   
$
-
   
$
3,686
 
Total liabilities
   at fair value
 
$
-
   
$
5,898
   
$
-
   
$
5,898
   
$
-
   
$
3,686
   
$
-
   
$
3,686
 
                                                                 
(1)Interest rate swaps are valued based on observable market swap rates and are classified within Level 2 of the fair value hierarchy.