Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS

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FAIR VALUE MEASUREMENTS
 12 Months Ended
Sep. 30, 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.
       
As of September 30, 2023 and 2022, the fair values of the Company's assets and liabilities measured on a recurring basis were categorized as follows:
  September 30, 2023
  Level 1 Level 2 Level 3 Total
Assets:
Derivatives (1)
 $ —  $ 4,006  $ —  $ 4,006 
Equity and fixed income mutual funds —  699  —  699 
Life insurance policies —  4,926  —  4,926 
Total assets at fair value $ —  $ 9,631  $ —  $ 9,631 
Liabilities:        
   Derivatives (1)
$ —  $ 2,766  $ —  $ 2,766 
Total liabilities at fair value $ —  $ 2,766  $ —  $ 2,766 

  September 30, 2022
  Level 1 Level 2 Level 3 Total
Assets:
Derivatives (1)
 $ —  $ 14,421  $ —  $ 14,421 
Equity and fixed income mutual funds —  —  —  — 
Life insurance policies —  4,439  —  4,439 
Total assets at fair value $ —  $ 18,860  $ —  $ 18,860 
(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 for the years ended September 30, 2023 and 2022.