Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

v3.10.0.1
Fair Value Measurements
3 Months Ended
Dec. 31, 2018
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, 2018
 
September 30, 2018
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives (1)
$

 
$
7,467

 
$

 
$
7,467

 
$

 
$
11,309

 
$

 
$
11,309

Equity and fixed income mutual funds

 
20,771

 

 
20,771

 

 
22,758

 

 
22,758

Life insurance policies

 
5,864

 

 
5,864

 

 
5,894

 

 
5,894

Total assets at fair value
$

 
$
34,102

 
$

 
$
34,102

 
$

 
$
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.