Fair Value Measurements (Tables)

6 Months Ended

Mar. 31, 2017

Schedule of fair value assets measured on a recurring and non-recurring basis

The following table presents the period-end balances of our assets measured at fair value on a recurring basis, and the impairment-date fair value of certain assets measured at fair value on a non-recurring basis, for each hierarchy level. These balances represent only those assets whose carrying values were adjusted to fair value during the periods presented:



(In thousands)	Level 1		Level 2		Level 3			Total
Six Months Ended March 31, 2017
Deferred compensation plan assets ^(a)	$	—	$	1,080	$	—		$	1,080
Land held for sale ^(b)	—		—		325			325
Six Months Ended March 31, 2016
Deferred compensation plan assets ^(a)	$	—	$	804	$	—		$	804
Development projects in progress ^(b)	—		—		5,518		^(c)	5,518
Land held for sale ^(b)	—		—		16,213		^(c)	16,213
As of September 30, 2016
Deferred compensation plan assets ^(a)	$	—	$	765	$	—		$	765

^(a)Measured at fair value on a recurring basis.

^(b)Measured at fair value on a non-recurring basis.

^(c) Amounts represent the impairment-date fair value of certain development projects in progress and land held for sale assets that were impaired during the six months ended March 31, 2016.

Schedule of carrying values and estimated fair values of other financial assets and liabilities

The following table presents the carrying value and estimated fair value of certain of our other financial liabilities as of March 31, 2017 and September 30, 2016:



	As of March 31, 2017					As of September 30, 2016
(In thousands)	Carrying Amount ^(a)			Fair Value		Carrying Amount ^(a)		Fair Value
Senior Notes ^(b)	$	1,258,548		$	1,338,024	$	1,207,526	$	1,253,614
Term Loan	N/A		^(c)	N/A		52,669		52,669
Junior Subordinated Notes	60,903			60,903		59,870		59,870
	$	1,319,451		$	1,398,927	$	1,320,065	$	1,366,153

^(a)Carrying amounts are net of unamortized debt premium/discounts, debt issuance costs or accretion.

^(b) The estimated fair value for our publicly-held Senior Notes has been determined using quoted market rates (Level 2).

^(c) N/A - Not applicable

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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