. FAIR VALUES

We have not changed our valuation techniques in measuring the fair value of any financial assets and liabilities during the period. We recognize transfers between levels within the fair value hierarchy, if any, at the end of each quarter. There were no transfers between levels during the periods presented. As of December 30, 2017 and September 30, 2017, we did not have any assets or liabilities valued based on Level 3 valuations.

We measure the fair value of outstanding debt obligations for disclosure purposes on a recurring basis. As of December 30, 2017, the current and long-term portion of long-term obligations of $5.1 million and $503.0 million, respectively, are reported at amortized cost. These outstanding obligations are classified as Level 2 as they are not actively traded and are valued using a discounted cash flow model that uses observable market inputs. Based on the discounted cash flow model, the fair value of the outstanding debt approximates amortized cost.

Financial assets and liabilities measured at fair value as of December 30, 2017 and September 30, 2017 are summarized below (in thousands):



	Aggregate Fair Value			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs			Aggregate Fair Value			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs
	December 30, 2017								September 30, 2017
				(Level 1)		(Level 2)						(Level 1)		(Level 2)
Assets:
Cash equivalents:
Money market fund deposits	$	38,383		$	38,383	$	—		$	61,811		$	61,811	$	—
U.S. Treasury and agency obligations ⁽¹⁾	20,020			—		20,020			14,986			—		14,986
Commercial paper ⁽¹⁾	4,997			—		4,997			21,991			—		21,991
Short-term investments:
U.S. Treasury and agency obligations ⁽¹⁾	18,605			—		18,605			21,087			—		21,087
Corporate notes and obligations ⁽¹⁾	9,149			—		9,149			11,423			—		11,423
Commercial paper ⁽¹⁾	9,957			—		9,957			—			—		—
Prepaid and other assets:
Foreign currency contracts ⁽²⁾	588			—		588			1,270			—		1,270
Money market fund deposits — Deferred comp and supplemental plan ⁽³⁾	270			270		—			285			285		—
Mutual funds — Deferred comp and supplemental plan ⁽³⁾	19,969			19,969		—			17,585			17,585		—
Total	$	121,938		$	58,622	$	63,316		$	150,438		$	79,681	$	70,757

Liabilities:
Other current liabilities:
Foreign currency contracts ⁽³⁾	(962		)	—		(962		)	(1,475		)	—		(1,475		)
Total	$	120,976		$	58,622	$	62,354		$	148,963		$	79,681	$	69,282

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(1)

Valuations are based upon quoted market prices in active markets involving similar assets. The market inputs used to value these instruments generally consist of market yields, reported trades, broker/dealer quotes or alternative pricing sources with reasonable levels of price transparency. Pricing sources include industry standard data providers, security master files from large financial institutions, and other third party sources which are input into a distribution-curve-based algorithm to determine a daily market value. This creates a “consensus price” or a weighted average price for each security.

(2)

The principal market in which we execute our foreign currency contracts is the institutional market in an over-the-counter environment with a relatively high level of price transparency. The market participants usually are large commercial banks. Our foreign currency contracts’ valuation inputs are based on quoted prices and quoted pricing intervals from public data sources and do not involve management judgment. See Note 6, "Derivative Instruments and Hedging Activities".


(3)	The fair value of mutual funds is determined based on quoted market prices. Securities traded on a national exchange are stated at the last reported sales price on the day of valuation; other securities traded in over-the-counter markets and listed securities for which no sale was reported on that date are stated as the last quoted bid price.