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FAIR VALUE OF FINANCIAL INSTRUMENTS
12 Months Ended
Sep. 30, 2014
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS
 
Financial Instruments Carried at Fair Value
 
The Company’s Swap Transaction is recorded on the balance sheet as either an asset or a liability measured at fair value.  The Company estimates the fair value of the Swap Transaction based on Level 2 valuation inputs, including fixed interest rates, Libor implied forward interest rates and the remaining time to maturity.  At September 30, 2014, the Swap Transaction was an asset of $0.2 million.
 
Financial Instruments Carried at Historical Cost
 
The Company’s long-term debt is not quoted.  Fair value was estimated using a discounted cash flow analysis based on Level 2 valuation inputs, including borrowing rates the Company believes are currently available to it for loans with similar terms and maturities.
 
The Company’s debt is carried at historical cost on the balance sheet.  The fair value and carrying value of Term Loan A at September 30, 2014 were $6.9 million and $8.1 million, respectively.  The fair value and carrying value of Celmet Building Term Loan at September 30, 2014 was $1.0 million and $1.2 million, respectively. The fair value of the remainder of the Company’s debt approximated carrying value at September 30, 2014 as it is variable rate debt.  The fair value and carrying value of Term Loan A at September 30, 2013 were $7.6 million and $9.3 million, respectively.  The fair value of the remainder of the Company’s debt approximated carrying value at September 30, 2013 as it is variable rate debt.