Fair Value Of Assets And Liabilities

6 Months Ended

Mar. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value Of Assets And Liabilities

FAIR VALUE OF ASSETS AND LIABILITIES:

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value are classified based upon the level of judgment associated with the inputs used to measure their fair value. The hierarchical levels related to the subjectivity of the valuation inputs are defined as follows:

• Level 1—inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets

• Level 2—inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument

•    Level 3—inputs to the valuation methodology are unobservable and significant to the fair value measurement

Recurring Fair Value Measurements

The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, accounts payable, borrowings and derivatives. Management believes that the carrying value of cash and cash equivalents, accounts receivable and accounts payable are representative of their respective fair values. In conjunction with the fair value measurement of the derivative instruments, the Company made an accounting policy election to measure the credit risk of its derivative instruments, that are subject to master netting agreements, on a net basis by counterparty portfolio. The fair value of the Company’s debt at March 30, 2012 and September 30, 2011 was $5,833.5 million and $5,505.7 million, respectively. The carrying value of the Company’s debt at March 30, 2012 and September 30, 2011 was $5,816.6 million and $5,637.7 million, respectively. The fair values were computed using market quotes, if available, or based on discounted cash flows using market interest rates as of the end of the respective periods. The inputs utilized in estimating the fair value of the Company's debt has been classified as level 2 in the fair value hierarchy levels.

At March 30, 2012 and September 30, 2011, the following financial assets and financial liabilities were measured at fair value on a recurring basis using the type of inputs shown (in thousands):

	March 30, 2012								September 30, 2011
	Level 1		Level 2		Level 3		Total		Total
Assets:
Foreign currency forward exchange contracts	$	—	$	—	$	—	$	—	$	2,856
Gasoline and diesel fuel agreements	—		225		—		225		—
Total assets measured at fair value on a recurring basis	$	—	$	225	$	—	$	225	$	2,856
Liabilities:
Interest rate swap agreements	$	—	$	44,577	$	—	$	44,577	$	93,403
Cross currency swap agreements	—		42,077		—		42,077		35,551
Natural gas hedge agreements	—		288		—		288		187
Gasoline and diesel fuel agreements	—		—		—		—		1,894
Foreign currency forward exchange contracts	—		85		—		85		—
Total liabilities measured at fair value on a recurring basis	$	—	$	87,027	$	—	$	87,027	$	131,035
Common Stock Subject to Repurchase	$	—	$	—	$	169,328	$	169,328	$	158,061

The following table presents the changes in financial instruments for which level 3 inputs were significant to their valuation for the six months ended March 30, 2012 (in thousands):

	Common Stock Subject to Repurchase
Balance at September 30, 2011	$	158,061
Issuances of Parent Company common stock	806
Repurchases of Parent Company common stock	(9,746		)
Change in fair market value of Parent Company common stock	20,207
Balance at March 30, 2012	$	169,328