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
The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2024 and 2023 under Topic 820 (in thousands):

Fair Value Measurement at Reporting Date Using
September 30, 2024 Level 1 Level 2 Level 3
Assets:
Interest rate swaps $ —  $ 11,646  $ — 
Corporate debt securities —  6,872  — 
U.S. government securities —  8,338  — 
Municipal government securities —  1,598  — 
Other debt securities —  1,212  — 
Total Assets $ —  $ 29,666  $ — 


Fair Value Measurement at Reporting Date Using
September 30, 2023 Level 1 Level 2 Level 3
Assets:
Commodity swap contracts $ —  $ 204  $ — 
Interest rate swaps —  26,909  — 
Corporate debt securities —  5,605  — 
U.S. government securities —  6,549  — 
Municipal government securities —  1,748  — 
Other debt securities —  1,177  — 
Total Assets $ —  $ 42,192  $ — 
Liabilities:
Commodity swap contracts $ —  $ 20  $ — 
Total Liabilities $ —  $ 20  $ — 

The fair value of interest rate swap contracts is based on a model-driven valuation using the observable components (e.g., interest rates), which are observable at commonly quoted intervals for the full term of the contracts. The fair value of the Company’s commodity swap contracts is based on an analysis of the expected cash flow of the contract in combination with observable forward price inputs obtained from a third-party pricing source. The calculations are adjusted for credit risk. Therefore, the Company’s derivative assets and liabilities are classified within Level 2 of the fair value hierarchy. Derivative assets are included within “Prepaid expenses and other current assets” and “Other assets” on the Company’s Consolidated Balance Sheets. Derivative liabilities are
included within “Accrued expense and other current liabilities” and “Other long-term liabilities” on the Company’s Consolidated Balance Sheets. Debt securities primarily consist of corporate bonds and U.S. Government and agency obligations. The fair value of these investments is determined based on market quotes. These investments are included within “Restricted Investments” on the Company’s Consolidated Balance Sheets.