Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS

v3.24.3
FAIR VALUE MEASUREMENTS
 12 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS:air 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, 2024 and 2023, the fair values of the Company's assets and liabilities measured on a recurring basis were categorized as follows:
  September 30, 2024
  Level 1 Level 2 Level 3 Total
Assets:
Equity and fixed income mutual funds $ —  $ 839  $ —  $ 839 
Life insurance policies —  5,493  —  5,493 
Total assets at fair value $ —  $ 6,332  $ —  $ 6,332 
Liabilities:        
   Derivatives (1) (2)
$ —  $ 69,573  $ —  $ 69,573 
Total liabilities at fair value $ —  $ 69,573  $ —  $ 69,573 

  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 
(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.
(2) Fiscal 2024 derivative amount includes $58,432 of partial advance payments received from the counterparties to certain cross-currency swaps. See Note 12, "Derivatives and Hedging Activities" for further details.

The carrying values for other financial assets and liabilities approximated fair value for the years ended September 30, 2024 and 2023.