Quarterly report [Sections 13 or 15(d)]

Fair Value Measurements

v3.25.2
Fair Value Measurements
 9 Months Ended
Jun. 30, 2025
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 June 30, 2025 and September 30, 2024 under Topic 820 (in thousands):

June 30, 2025 September 30, 2024
(unaudited)
Level 2 Level 2
Assets:
Interest rate swaps $ 9,379  $ 11,646 
U.S. government securities 14,182  8,338 
Corporate debt securities 5,355  6,872 
Municipal government securities 1,303  1,598 
Other debt securities 1,114  1,212 
Total assets $ 31,333  $ 29,666 
The fair value of the interest rate swap contract 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 are classified within Level 2 of the fair value hierarchy. Derivative assets are included within “Other assets” on the Company’s Consolidated Balance Sheets.