XML 34 R22.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Fair Value Measurements
 9 Months Ended
Jun. 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 June 30, 2024 and September 30, 2023 under ASC 820, Fair Value Measurements (in thousands):

June 30, 2024September 30, 2023
(unaudited)
Level 2Level 2
Assets:
Commodity swap contracts$— $204 
Interest rate swaps20,452 26,909 
U.S. government securities7,351 6,549 
Corporate debt securities6,789 5,605 
Municipal government securities1,695 1,748 
Agency backed securities1,181 1,177 
Total assets37,468 42,192 
Liabilities:
Commodity swap contracts$— $20 
Total liabilities$— $20 

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 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.