Fair Values of Financial Instruments

12 Months Ended

Sep. 27, 2025

Fair Values of Financial Instruments [Abstract]

Fair Values of Financial Instruments

13. Fair Values of Financial Instruments

The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments:

Cash and cash equivalents: The carrying amounts reported in the Consolidated Balance Sheets for cash and cash equivalents approximate their fair values.

Short term investments: The carrying amounts reported in the Consolidated Balance Sheets for short term investments approximate their fair values.

Receivables: The carrying amounts reported in the Consolidated Balance Sheets for receivables approximate their fair values.

The fair value of the Company’s debt is estimated using valuation techniques under the accounting guidance related to fair value measurements based on observable and unobservable inputs. Observable inputs reflect readily available data from independent sources, while unobservable inputs reflect the Company’s market assumptions. These inputs are classified into the following hierarchy:

Level 1 Inputs -	Quoted prices for identical assets or liabilities in active markets.
Level 2 Inputs -	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; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.
Level 3 Inputs -	Pricing inputs are unobservable for the assets or liabilities and include situations where there is little, if any, market activity for the assets or liabilities. The inputs into the determination of fair value require significant management judgment or estimation.

The carrying amount and fair value of the Company’s debt, interest rate swaps, and non-qualified plan assets at September 27, 2025 were as follows (in thousands):

	Carrying
	Amount		Fair Value		Fair Value Measurements
Senior Notes due 2031	$	350,000	$	327,250	Level 2
Facility Bonds due 2036		45,380		45,380	Level 2
Secured notes payable and other		119,387		119,387	Level 2
Interest rate swaps derivative contract asset		7,416		7,416	Level 2
Non-qualified retirement plan assets		29,881		29,881	Level 2

The carrying amount and fair value of the Company’s debt, interest rate swaps, and non-qualified plan assets at September 28, 2024 were as follows (in thousands):

	Carrying
	Amount		Fair Value		Fair Value Measurements
Senior Notes due 2031	$	350,000	$	317,625	Level 2
Facility Bonds due 2036		49,910		49,910	Level 2
Secured notes payable and other		132,712		132,712	Level 2
Interest rate swaps derivative contract assets		8,931		8,931	Level 2
Non-qualified retirement plan assets		27,126		27,126	Level 2

The fair values for Level 2 measurements were determined primarily using market yields and taking into consideration the underlying terms of the debt.