v3.26.1
Fair Values of Financial Instruments
 9 Months Ended
Jun. 27, 2026
Fair Values of Financial Instruments [Abstract]  
Fair Values of Financial Instruments L. FAIR VALUES OF FINANCIAL INSTRUMENTS

The carrying amounts for cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to the short-term maturity of these instruments.

The fair value of the Company’s debt and interest rate swaps are 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 retirement plan assets at June 27, 2026 were as follows (in thousands):

Carrying

  

Fair Value

Amount

Fair Value

Measurements

Senior Notes due 2031

$

350,000

$

328,125

Level 2

Facility Bonds due 2036

40,850

40,850

Level 2

Secured notes payable and other

109,677

109,677

Level 2

Interest rate swap derivative contracts asset

7,093

7,093

Level 2

Non-qualified retirement plan assets

32,749

32,749

Level 2

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

Carrying

  

Fair Value

Amount

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 assets

7,416

7,416

Level 2

Non-qualified retirement plan assets

29,881

29,881

Level 2

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