XML 24 R13.htm IDEA: XBRL DOCUMENT v3.10.0.1
Note 8 - Fair Value Measurements
9 Months Ended
Jun. 29, 2018
Notes to Financial Statements  
Fair Value Disclosures [Text Block]
 
NOTE
8—FAIR
VALUE MEASUREMENTS
 
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The fair value is measured using assumptions that market participants would use, including assumptions about nonperformance risk and credit risk.
 
Accounting Standards Codification (“ASC”)
820,
Fair Value Measurement and Disclosures
”, establishes a fair value hierarchy for valuation inputs and prioritizes them based on the extent to which the inputs are observable in the marketplace. Categorization is based on the lowest level of input that is available and significant to the measurement. These levels are:
 
Level
1—Quoted
prices in active markets for identical assets and liabilities.
 
Level
2—Observable
inputs other than quoted prices in active markets, including 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, inputs other than quoted prices that are observable for the asset or liability and market-corroborated inputs.
 
Level
3—Unobservable
inputs that reflect management’s assumptions about the estimates and risks that market participants would use in pricing the asset or liability.
 
Non-Financial Liabilities Measured at Fair Value on a Nonrecurring Basis
 
We measure our ARO liabilities at fair value on a nonrecurring basis when we believe there has been an indication the fair value has changed. The Company periodically re-assesses its obligations and has concluded that
no
adjustment is necessary to adjust the values of those liabilities during the
three
and
nine
-month periods ended
June 29, 2018
and
June 30, 2017.