Quarterly report pursuant to Section 13 or 15(d)

Derivatives and Fair Value Measurements (Tables)

v3.8.0.1
Derivatives and Fair Value Measurements (Tables)
 3 Months Ended
Dec. 30, 2017
Fair Value Disclosures [Abstract]  
Outstanding financial instruments
Outstanding instruments as of December 30, 2017, are as follows:
 
Effective Date
 
Notational
Amount
 
Fixed LIBOR Rate
 
Maturity Date
Interest Rate Swap
July 19, 2017
 
$10 million
 
1.74%
 
July 19, 2019
Interest Rate Swap
July 19, 2017
 
$10 million
 
1.99%
 
May 10, 2021
Financial liabilities measure at fair value on a recurring basis
The following financial assets (liabilities) are measured at fair value on a recurring basis (in thousands):
 
Fair Value Measurements Using
Period Ended
Total
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Interest Rate Swaps
 
 
 
 
 
 
 
December 30, 2017
$
83

 
—

 
$
83

 
—

September 30, 2017
(56
)
 
—

 
(56
)
 
—

 
 
 
 
 
 
 
 
Cotton Options
 
 
 

 
 
 
 
December 30, 2017
$
(1
)
 
$
(1
)
 
—

 
—

September 30, 2017
(125
)
 
(125
)
 
—

 
—

 
 
 
 
 
 
 
 
Contingent Consideration
 
 
 
 
 
 
 
December 30, 2017
$
(1,300
)
 
—

 
—

 
$
(1,300
)
September 30, 2017
(1,600
)
 
—

 
—

 
(1,600
)
Summary of fair value and presentation in the consolidated balance sheets for derivatives
The following table summarizes the fair value and presentation in the Condensed Consolidated Balance Sheets for derivatives related to our interest swap agreements as of December 30, 2017, and September 30, 2017 (in thousands):
 
December 30,
2017
 
September 30,
2017
Other assets
$
83

 
$
—

Deferred tax assets
—

 
21

Accrued expenses
—

 
(56
)
Deferred tax liabilities
(32
)
 
—

Accumulated other comprehensive income (loss)
$
51

 
$
(35
)