The following table summarizes the fair value of our assets that were accounted for at fair value on a recurring basis as of September 30,  2013 (in thousands):  The following table summarizes the fair value of our assets and liabilities that were accounted for at fair value on a recurring basis as of  September 30, 2012 (in thousands): Cash equivalents, primarily funds held in money market savings instruments, are reported at their current carrying value which approximates  fair value due to the short-term nature of these instruments and are included in cash and cash equivalents in our Consolidated Balance Sheets.  Our intangible assets consist of (1) goodwill, which is not being  amortized, and (2) a supply agreement (15 year useful life),  purchased technology (6 to 7 year useful lives) and trade names (10  year useful life), which are amortized over their estimated useful lives.  We test for impairment of goodwill and intangible assets annually, or  immediately if conditions indicate that impairment could exist.  Fair value guidance requires certain fair value disclosures, such  as those on our long-term debt, to be presented in both interim  and annual reports. The estimated fair value amounts of financial  instruments have been determined using available market  information and valuation methodologies described below.  The fair value of our long-term debt depends primarily on the coupon  rate of our industrial development revenue bonds. The carrying  value of our long-term debt at September 30, 2013, approximates  fair value based on the current coupon rate of the bonds, which  is reset weekly. It is classified as a Level 2 input in the fair value  measurement hierarchy as there is an active market for the trading  of these industrial development revenue bonds.  There were no transfers between levels with the fair value  measurement hierarchy during fiscal year 2013.  During Fiscal 2011, our impairment analysis indicated that the  non-compete agreements, trade name and customer relationships  intangible assets related to the Powell Canada acquisition were  impaired due to continued operating losses at Powell Canada, which  have reduced our projections for future revenues and cash flows.  Accordingly, we recognized a loss on impairment of $7.2 million. No impairment was identified as a result of performing our annual  impairment test of goodwill for Fiscal 2013 or 2012. D. INTANGIBLE ASSETS Fair Value of Other Financial Instruments  Industrial Development Revenue Bonds Fair Value Measurements at September 30, 2012 Quoted Prices in Active  Markets for Identical Assets Significant Other Observable Inputs  Significant Unobservable Inputs  Fair Value at September 30, 2012 (Level 1) (Level 2) (Level 3) Assets Cash equivalents  $ 45,888  $ —  $ — $ 45,888 Total $ 45,888  $ —  $ — $ 45,888 Fair Value Measurements at September 30, 2013 Quoted Prices in Active  Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Fair Value at September 30, 2013 (Level 1) (Level 2) (Level 3) Assets Cash equivalents  $ 10,531  $ —  $ — $ 10,531 Total $ 10,531  $ —  $ — $ 10,531 32