Company: JOUT
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001140361-25-017047
Chunk: 18

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 18
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 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 amounts of accounts receivable, accounts payable and accrued expenses approximated their fair values at March 28, 2025, September 27, 2024 and March 29, 2024 due to the short term maturities of these instruments. See Note 13 for discussion of fair value of cash and cash equivalents.  When indicators of impairment are present, the Company may be required to value certain long-lived assets such as property, plant, and equipment, and other intangibles at their fair value.  Valuation TechniquesRabbi Trust AssetsRabbi 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 used to fund amounts the Company owes to certain officers and other employees under the Company’s non-qualified deferred compensation plan.  These assets are included in "Other assets" in the accompanying Company's Condensed Consolidated Balance Sheets, and the mark to market adjustments on the assets are recorded in “Other income, net” in the accompanying Condensed Consolidated Statements of Operations.  The offsetting deferred compensation liability is also reported at fair value as "Deferred compensation liability" in the Company's accompanying Condensed Consolidated Balance Sheets. Changes in the liability are recorded in "Administrative management, finance and information systems" expense in the accompanying Condensed Consolidated Statements of Operations.Marketable SecuritiesMarketable 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 following table summarizes the Company’s financial assets measured at fair value as of March 28, 2025: 

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IndexJOHNSON OUTDOORS INC.

 Level 1Level 2Level 3TotalAssets:    Rabbi trust assets$27,396 $— $— $27,396 Marketable securities— 4,315 — 4,315 Total$27,396 $4,315 $— $31