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Fair Value Measurements (Tables)

6 Months Ended

Mar. 28, 2020

Financial Assets and Liabilities Subject to Fair Value Measurements on a Recurring Basis

Financial assets and liabilities subject to fair value measurements on a recurring basis are as follows:



	March 28, 2020
	Level 1		Level 2		Level 3		Total
Assets
Currency contracts ¹	$	—	$	870	$	—	$	870
Cross currency swap ¹	—		943		—		943
Total assets	—		1,813		—		1,813

Liabilities
Currency contracts ¹	—		46		—		46
Contingent consideration ²	—		—		17,673		17,673
Total liabilities	$	—	$	46	$	17,673	$	17,719



	September 28, 2019
	Level 1		Level 2		Level 3		Total
Assets
Currency contracts ¹	$	—	$	907	$	—	$	907
Total assets	—		907		—		907

Liabilities
Currency contracts ¹	—		251		—		251
Total liabilities	$	—	$	251	$	—	$	251


¹	Based on observable market transactions of spot currency rates, forward currency rates on equivalently-termed instruments and interest rate curves, as applicable. Carrying amounts of the financial assets and liabilities are equal to the fair value. See Note 8 for additional information on derivative financial instruments.

Based on discounted cash flow analyses that included revenue estimates, probability of financial performance achievement and a discount rate. Carrying amounts of the financial assets and liabilities are equal to the fair value. See Note 16 for additional information on business acquisitions.

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

Changes to the contingent consideration are as follows:



Balance, September 28, 2019	$	—
Additions	17,447
Interest accretion	455
Foreign currency translation	(229		)
Balance, March 28, 2020	$	17,673

Schedule of Estimated Fair Values of Debt Instruments

The carrying amount and estimated fair values of our debt are as follows:



	March 28, 2020
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Tranche B term loan ³	$	171,395	$	157,683	$	—	$	157,683	$	—
Senior unsecured notes ³	350,000		326,375		—		326,375		—
Total debt	$	521,395	$	484,058	$	—	$	484,058	$	—



	September 28, 2019
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Tranche B term loan ³	$	173,695	$	174,563	$	—	$	174,563	$	—
Senior unsecured notes ³	350,000		366,625		—		366,625		—
Total debt	$	523,695	$	541,188	$	—	$	541,188	$	—

The fair value of the tranche B term loan and senior unsecured notes is based on the most recently quoted market price for the outstanding debt instrument, adjusted for any known significant deviations in value. The estimated fair value of the debt obligation is not necessarily indicative of the amount that would be realized in a current market exchange. See Note 9 for additional information on financing arrangements.