Financial Instruments (Tables)

3 Months Ended

Dec. 30, 2016

The following tables set forth financial instruments carried at fair value by level of fair value hierarchy:



				Fair Value Measurements at December 30, 2016
		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Institutional Government money market and overnight U.S. Government securities¹		$	28,983	$	28,983	$	—	$	—
Foreign exchange forward derivatives²		460		—		460		—
Total assets at fair value		$	29,443	$	28,983	$	460	$	—

Liabilities:
Foreign exchange forward derivatives³		$	575	$	—	$	575	$	—
Total liabilities at fair value		$	575	$	—	$	575	$	—


¹	The institutional Government money market and overnight U.S. Government securities are classified as part of cash and cash equivalents in the condensed consolidated balance sheet.
²	The asset position of foreign currency derivatives is classified as part of prepaid and other current assets in the condensed consolidated balance sheet.
³	The liability position of foreign currency derivatives is classified as part of accrued expenses in the condensed consolidated balance sheet.



				Fair Value Measurements at September 30, 2016
		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Institutional Government money market and overnight U.S. Government securities¹		$	34,215	$	34,215	$	—	$	—
Foreign exchange forward derivatives²		1,159		—		1,159		—
Total assets at fair value		$	35,374	$	34,215	$	1,159	$	—

Liabilities:
Foreign exchange forward derivatives³		$	217	$	—	$	217	$	—
Total liabilities at fair value		$	217	$	—	$	217	$	—


¹	The institutional Government money market and overnight U.S. Government securities are classified as part of cash and cash equivalents in the condensed consolidated balance sheet.
²	The asset position of foreign currency derivatives is classified as part of prepaid and other current assets in the condensed consolidated balance sheet.
³	The liability position of foreign currency derivatives is classified as part of accrued expenses in the condensed consolidated balance sheet.

The estimated carrying and fair values of the Company’s long-term debt are as follows:



		December 30, 2016				September 30, 2016
	Fair Value Measurement	Carrying Value		Fair Value		Carrying Value		Fair Value
First Lien Term Loan	Level 2	$	287,018	$	286,287	$	296,488	$	294,599
Second Lien Term Loan	Level 3	26,582		26,582		26,515		26,515
Senior Notes due 2018	Level 2	212,767		215,992		211,924		214,074
		$	526,367	$	528,861	$	534,927	$	535,188

Note: Amounts are net of associated issue discounts and debt issuance costs. Not reflected in the above table are debt issuance costs related to the Company's revolving credit facility of $428 and $476 as of December 30, 2016 and September 30, 2016, respectively.

CPI International Holding Corp. 10-Q