Fair Value Of Financial Instruments

9 Months Ended

Jul. 01, 2012

Fair Value Disclosures [Abstract]

Fair Value Of Financial Instruments

FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company’s net derivative portfolio as of July 1, 2012, contains Level 2 instruments and consists of commodity and foreign exchange contracts. The fair values of these instruments as of July 1, 2012 were as follows:

	Level 1		Level 2			Level 3		Total
Assets:
Foreign exchange contracts, net	$	—	$	1,519		$	—	$	1,519
Total Assets, net	$	—	$	1,519		$	—	$	1,519
Liabilities:
Commodity contracts, net	$	—	$	(2,693	)	$	—	$	(2,693	)
Total Liabilities, net	$	—	$	(2,693	)	$	—	$	(2,693	)

The Company’s net derivative portfolio as of September 30, 2011, contains Level 2 instruments and consists of commodity, interest rate and foreign exchange contracts. The fair values of these instruments as of September 30, 2011 were as follows:

	Level 1		Level 2			Level 3		Total
Total Assets	$	—	$	—		$	—	$	—
Liabilities:
Interest rate contracts	$	—	$	(1,954	)	$	—	$	(1,954	)
Commodity contracts	—		(958		)	—		(958		)
Foreign exchange contracts, net	—		(22,490		)	—		(22,490		)
Total Liabilities, net	$	—	$	(25,402	)	$	—	$	(25,402	)

The carrying values of cash and cash equivalents, accounts and notes receivable, accounts payable and non-publicly traded debt approximate fair value. The fair values of long-term publicly traded debt are based off unadjusted quoted market prices (level 1) and derivative financial instruments are generally based on quoted or observed market prices (level 2).

The carrying values of goodwill, intangible assets and other long-lived assets are tested annually, or more frequently if an event occurs that indicates an impairment loss may have been incurred, using fair value measurements with unobservable inputs (Level 3).

The carrying amounts and fair values of the Company’s financial instruments are summarized as follows ((liability)/asset):

	July 1, 2012						September 30, 2011
	Carrying Amount			Fair Value			Carrying Amount			Fair Value
Total debt	$	(1,827,065	)	$	(1,957,870	)	$	(1,551,612	)	$	(1,635,528	)
Interest rate swap agreements	—			—			(1,954		)	(1,954		)
Commodity swap and option agreements	(2,693		)	(2,693		)	(958		)	(958		)
Foreign exchange forward agreements	1,519			1,519			(22,490		)	(22,490		)