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Fair Values Of Financial Instruments
 12 Months Ended
Sep. 25, 2021
Fair Values Of Financial Instruments [Abstract]  
Fair Values Of Financial Instruments 13. 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.

Short term investments: The carrying amounts reported in the Consolidated Balance Sheets for short term investments 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, interest rate swaps, and non-qualified plan assets at September 25, 2021 is as follows (in thousands):

Carrying

Amount

Fair Value

Fair Value Measurements

Senior Notes

  

$

350,000

  

$

358,750

Level 2

Facility Bonds

  

63,500

  

  

63,500

Level 2

Secured notes payable and other

  

176,014

  

  

175,922

Level 2

Interest rate swaps derivative contract liability

4,531

4,531

Level 2

Non-qualified retirement plan assets

  

21,062

  

21,062

Level 2

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