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Fair Value Measurements
 12 Months Ended
Sep. 30, 2011
Fair Value Measurements [Abstract]  
Fair Value Measurements
5   FAIR VALUE MEASUREMENTS
 
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy has been established based on three levels of inputs, of which the first two are considered observable and the last unobservable.
 
    Level 1 - Quoted prices in active markets for identical assets or liabilities. These are typically obtained from real-time quotes for transactions in active exchange markets involving identical assets.
     
    Level 2 - Inputs, other than quoted prices included within Level 1, which are observable for the asset or liability, either directly or indirectly. These are typically obtained from readily-available pricing sources for comparable instruments.
     
    Level 3 - Unobservable inputs, where there is little or no market activity for the asset or liability. These inputs reflect the reporting entity's own assumptions of the data that market participants would use in pricing the asset or liability, based on the best information available in the circumstances.
 
The following table summarizes the Company's financial assets and liabilities recorded on its balance sheet at fair value on a recurring basis as of September 30, 2011:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
    Rabbi trust assets
   $ 5,385     $ -     $ -     $ 5,385  
Liabilities:
                                
    Foreign currency forward contracts
   $ -     $ 128     $ -     $ 128  

The following table summarizes the Company's financial assets and liabilities recorded on its balance sheet at fair value on a recurring basis as of October 1, 2010:

 
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
    Rabbi trust assets
   $ 5,452     $ -     $ -     $ 5,452  
Liabilities:
                                
    Foreign currency forward contracts
   $ -     $ 8     $ -     $ 8  

Rabbi trust assets are classified as trading securities and are comprised of marketable debt and equity securities that are marked to fair value based on unadjusted quoted prices in active markets.  The rabbi trust assets are used to fund amounts the Company owes to certain officers and other employees under the Company's non-qualified deferred compensation plan.  The mark to market adjustments are recorded in "Other expense, net" in the Consolidated Statements of Operations.
 
The fair value of the foreign exchange forward contract reported above was measured using the market value approach based on foreign currency exchange rates and the notional amount of the forward contract. The mark to market adjustments are recorded in "Other expense, net."
 
The following table summarizes the amount of total income or losses in the period attributable to the changes in fair value of the instruments noted above during the years ended September 30, 2011 and October 1, 2010, respectively:
 
 
Location of (income) loss
recognized in Statements of
Operations
  
2011
    
2010
  
               
Rabbi trust assets
Other expense, net
   $ 382     $ (730 )
Foreign exchange forward contracts
Other expense, net
   $ (361 )   $ 565  

Certain assets and liabilities are measured at fair value on a non-recurring basis in periods subsequent to their initial recognition.
 
During 2011, the Company recognized impairment of $334 on part of its facility in Ferndale, Washington in order to write the asset down to its estimated fair value of approximately $1,300.  The fair value of the facility was determined using a market approach based on recent selling prices of comparable properties. The impairment charge was included in "Other expense, net" in the Company's accompanying Consolidated Statements of Operations in the Watercraft segment.  This portion of the facility is anticipated to be sold in the first quarter of fiscal 2012.
 
The following table summarizes the Company's assets measured at fair value on a non-recurring basis as of September 30, 2011 and the losses recognized as a result of this measurement in 2011:

   
Level 1
    
Level 2
    
Level 3
    
Losses incurred
  
Property, plant and equipment
   $ -     $ -     $ 1,300     $ 334  

During 2010, the Company recognized impairment related to a warehouse facility in Casarza – Ligure, Italy of $114 to write the asset down to its fair value of $656.  The fair value of the facility was determined using a market approach based on recent selling prices of comparable properties.  The impairment charge was included in "Administrative management, finance and information systems" expenses in the Diving segment.  This facility was sold in March 2010 for $634.
 
The following table summarizes the Company's assets measured at fair value on a non-recurring basis as of October 1, 2010 and the losses recognized as a result of this measurement in 2010:

 
   
Level 1
    
Level 2
    
Level 3
    
Losses incurred
  
Property, plant and equipment
   $ -     $ -     $ 656     $ 114