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FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Sep. 30, 2019
Fair Value Disclosures [Abstract] |
Summary of Assets Measured at Fair Value | The following table summarizes our assets measured at fair value presented in our Consolidated Balance Sheet:
| September 30, 2019
(in thousands) | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Recurring fair value measurements: |  |  |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |
Certificates of deposit | $ | 6,590 |  |  | $ | — |  |  | $ | 6,590 |  |  | $ | — |
Corporate and municipal debt securities | 17,984 |  |  | — |  |  | 17,984 |  |  | — |
U.S. government and federal agency securities | 28,386 |  |  | 28,386 |  |  | — |  |  | — |
Total short-term investments | 52,960 |  |  | 28,386 |  |  | 24,574 |  |  | — |
Cash and cash equivalents | 347,943 |  |  | 347,943 |  |  | — |  |  | — |
Investments | 16,267 |  |  | 15,974 |  |  | 293 |  |  | — |
Other current assets | 31,291 |  |  | 31,291 |  |  | — |  |  | — |
Other assets | 3,737 |  |  | 3,737 |  |  | — |  |  | — |
Total assets measured at fair value | $ | 452,198 |  |  | $ | 427,331 |  |  | $ | 24,867 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Contingent earnout liability | $ | 18,373 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,373 |
Reconciliation of Changes in Fair Value of Financial Assets and Liabilities Classified as Level 3 | The following table presents a reconciliation of changes in the fair value of our financial assets and liabilities classified as Level 3 fair value measurements in the fair value hierarchy for the indicated periods:
(in thousands) | 2019 |  | 2018
Net liabilities at beginning of period | $ | 11,160 |  |  | $ | 14,879 |
Additions | 18,373 |  |  | — |
Total gains or losses: |  |  |
Included in earnings | (11,160 | ) |  | 6,906 |
Settlements (1) | — |  |  | (10,625 | )
Net liabilities at end of period | $ | 18,373 |  |  | $ | 11,160 |
(1) Settlements represent earnout payments that have been earned or paid during the period.
Quantitative Information about Level 3 Unobservable Inputs | The following table provides quantitative information (in thousands) about our Level 3 unobservable inputs at September 30, 2019:
Fair Value |  | Valuation Technique |  | Unobservable Input |  | Unobservable Input |  | Range |  | Weighted Average (1)
$6,000 |  | Monte Carlo simulation |  | Discount rate |  | 2.8 | % |  |  |  |
|  |  |  | Revenue Volatility |  | 24.4 | % |  |  |  |
|  |  |  | Risk free rate |  | 1.9 | % |  |  |  |
$12,373 |  | Probability Analysis |  | Discount rate |  | 3.0 | % |  |  |  |
|  |  |  | Payment amounts |  |  |  | $3,000 - $7,000 |  | $ | 4,800 |
|  |  |  | Probabilities |  |  |  | 40% - 54% |  | 47 | %
(1) The weighted average of the payment amounts and the probabilities (Level 3 unobservable inputs), associated with the contingent consideration valued using probability analysis, were weighted by the relative undiscounted fair value of payment amounts and of probability payment amounts, respectively.
Supplemental Fair Value Information about Long-Term Fixed-Rate Debt | The following information presents the supplemental fair value information about long-term fixed-rate debt at September 30, 2019 and 2018.
| September 30,
(in millions) | 2019 |  | 2018
Carrying value of long-term fixed-rate debt | $ | 479.4 |  |  | $ | 494.0 |
Fair value of long-term fixed-rate debt | $ | 526.4 |  |  | $ | 509.3 |

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 + Details
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