Company: JOUT
Filing Date: 2025-12-12
Form Type: 10-K
Source: 0001140361-25-045348
Chunk: 77

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-12-12
Form: 10-K
Item: Item 15
Chunk 77
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 directly or indirectly. These are typically obtained from readily-available pricing sources for comparable instruments.•Level 3 - Unobservable inputs, where there is little or no market activity for the asset or liability. These inputs reflect the reporting entity’s own assumptions of the data that market participants would use in pricing the asset or liability, based on the best information available in the circumstances.The carrying value of accounts receivable and accounts payable approximate fair value because of the short-term maturity of those instruments.The following table summarizes the Company’s financial assets measured at fair value as of October 3, 2025:     Level 1Level 2Level 3TotalAssets:   Rabbi trust assets$30,680 $— $— $30,680 Marketable securities— — — — Total$30,680 $— $— $30,680  The following table summarizes the Company’s financial assets measured at fair value as of September 27, 2024:     Level 1Level 2Level 3TotalAssets:    Rabbi trust assets$29,059 $— $— $29,059 Marketable securities— 16,541 — 16,541 Total$29,059 $16,541 $— $45,600  Rabbi trust assets are classified as trading securities and are comprised of marketable debt and equity securities that are marked to fair value based on unadjusted quoted prices in active markets.  The rabbi trust assets are owed by the Company to certain officers and other employees under the Company’s non-qualified deferred compensation plan.  These assets are included in "Other assets" in the Company's Consolidated Balance Sheets, and the mark-to-market adjustments on the assets are recorded in “Other income, net” in the accompanying Consolidated Statements of Operations.  The offsetting deferred compensation liability is also reported at fair value and is included in “Deferred compensation liability” in the Company’s Consolidated Balance Sheets.  Changes in the liability are recorded in "Administrative management, finance and information systems" expense in the accompanying Consolidated Statements of Operations. Marketable securities are classified as available-for-sale, with fair values determined using significant other observable inputs, which include quoted prices in markets that are not active, quoted prices of similar securities, recently executed transactions, broker quotations, and other inputs that are observable.    The effect of changes in the fair value of financial instruments on the