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Fair Values Of Financial Instruments
 12 Months Ended
Sep. 28, 2013
Fair Values Of Financial Instruments [Abstract]  
Fair Values Of Financial Instruments

14. Fair Values of Financial Instruments

 

The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments:

 

Cash and cash equivalents: The carrying amounts reported in the Consolidated Balance Sheets for cash and cash equivalents approximate their fair values.

 

Receivables: The carrying amounts reported in the Consolidated Balance Sheets for receivables approximate their fair values.

 

 

The fair value of the Company’s debt is estimated using valuation techniques under the accounting guidance related to fair value measurements based on observable and unobservable inputs.  Observable inputs reflect readily available data from independent sources, while unobservable inputs reflect the Company’s market assumptions.  These inputs are classified into the following hierarchy:

 

 

 

Level 1 Inputs  -

Quoted prices for identical assets or liabilities in active markets.

 

 

Level 2 Inputs  -

Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

 

 

Level 3 Inputs  -

Pricing inputs are unobservable for the assets or liabilities and include situations where there is little, if any, market activity for the assets or liabilities.  The inputs into the determination of fair value require significant management judgment or estimation

 

The carrying amount and fair value of the Company’s debt at September 28, 2013 is as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Carrying

  

 

 

  

 

 

 

Amount

 

Fair Value

 

Fair Value Measurements

Senior Notes

  

$
700,000 

  

$
675,500 

 

Level 2

Recovery Zone Facility Bonds

  

 
99,740 

  

  
99,740 

 

Level 2

Real estate and equipment notes payable

  

 
112,731 

  

  
112,913 

 

Level 2

Line of credit payable

 

 

—

 

 

—

 

Level 2

Total debt

  

$
912,471 

  

$
888,153 

 

 

 

The fair values for Level 2 measurements were determined primarily using market yields and taking into consideration the underlying terms of the debt.