XML 30 R18.htm IDEA: XBRL DOCUMENT v3.25.2
Fair Values of Financial Instruments
 9 Months Ended
Jun. 28, 2025
Fair Values of Financial Instruments [Abstract]  
Fair Values of Financial Instruments L. FAIR VALUES OF FINANCIAL INSTRUMENTS

The carrying amounts for cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to the short-term maturity of these instruments.

The fair value of the Company’s debt and interest rate swaps are 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 retirement plan assets at June 28, 2025 were as follows (in thousands):

Carrying

  

Fair Value

Amount

Fair Value

Measurements

Senior Notes due 2031

$

350,000

$

321,125

Level 2

Facility Bonds due 2036

45,380

45,380

Level 2

Secured notes payable and other

122,631

122,631

Level 2

Interest rate swap derivative contracts asset

8,151

8,151

Level 2

Non-qualified retirement plan assets

28,888

28,888

Level 2

The carrying amount and fair value of the Company’s debt, interest rate swaps, and non-qualified retirement plan assets at September 28, 2024 were as follows (in thousands):

Carrying

  

Fair Value

Amount

Fair Value

Measurements

Senior Notes due 2031

$

350,000

$

317,625

Level 2

Facility Bonds due 2036

49,910

49,910

Level 2

Secured notes payable and other

132,712

132,712

Level 2

Interest rate swaps derivative contract assets

8,931

8,931

Level 2

Non-qualified retirement plan assets

27,126

27,126

Level 2

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