Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

 v2.3.0.11
Fair Value Measurements
9 Months Ended
Jun. 30, 2011
Fair Value Measurements  
Fair Value Measurements

16.   Fair Value Measurements

 

 

 

 

 

Fair Value Measurements at

 

 

 

 

 

June 30, 2011 using:

 

 

 

 

 

 

 

Significant

 

 

 

 

 

Carrying

 

Quoted Prices

 

Other

 

Significant

 

 

 

Value at

 

in Active

 

Observable

 

Unobservable

 

 

 

June 30,

 

Markets

 

Inputs

 

Inputs

 

Description

 

2011

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

198.3

 

$

198.3

 

$

—

 

$

—

 

Equity investments

 

4.5

 

3.5

 

—

 

1.0

 

Investments in rabbi trust

 

5.5

 

5.5

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

Revolving credit facility

 

124.0

 

—

 

121.2

 

—

 

$150 senior unsecured notes

 

148.5

 

149.3

 

—

 

—

 

Derivative instruments, net

 

0.5

 

—

 

0.5

 

—

 

 

The following table reconciles the change in Level 3 financial assets:

 

 

 

Measurements Using Significant
Unobservable Inputs

 

 

 

Forethought

 

Equity

 

 

 

Note

 

Investments

 

Balance at September 30, 2010

 

$

127.0

 

$

3.0

 

Total gains (losses):

 

 

 

 

 

Included in earnings, net

 

—

 

—

 

Included in other comprehensive income

 

—

 

—

 

Change in fair value

 

24.2

 

—

 

Purchases, issuances, and settlements

 

(151.2

)

—

 

Transfers in (out) of Level 3

 

—

 

(2.0

)

Balance at June 30, 2011

 

$

—

 

$

1.0

 

 

On April 20, 2011, we received $151.2 from Forethought Financial Group, Inc. representing full payment of principal and interest contractually due in 2014.  The carrying value of the Forethought note was $151.2; therefore, no gain or loss resulted from the transaction.