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Fair Value Measurements
9 Months Ended
Jul. 02, 2017
Fair Value Measurements  
Fair Value Measurements

 

11.                               Fair Value Measurements

 

The fair value of long-term debt was determined using the present value of future cash flows based on the borrowing rates currently available for debt with similar terms and maturities (Level 2 measurement, as described in “Critical Accounting Policies and Estimates” in our Annual Report on Form 10-K for the fiscal year ended October 2, 2016).  The carrying value of our long-term debt approximated fair value at July 2, 2017 and October 2, 2016.  As of July 2, 2017, we had borrowings of $325.3 million outstanding under our credit agreement, which were used to fund our business acquisitions, working capital needs, capital expenditures and contingent earn-outs.