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FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended
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Jun. 30, 2019
Fair Value Disclosures [Abstract] |
Summary of Assets and Liabilities Measured at Fair Value | The following table summarizes our assets and liabilities measured at fair value presented in our Unaudited Condensed Consolidated Balance Sheet as of June 30, 2019:
(in thousands) | Fair Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Recurring fair value measurements: |  |  |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |
Certificates of deposit | $ | 6,728 |  |  | $ | — |  |  | $ | 6,728 |  |  | $ | — |
Corporate and municipal debt securities | 12,180 |  |  | — |  |  | 12,180 |  |  | — |
U.S. government and federal agency securities | 26,840 |  |  | 26,840 |  |  | — |  |  | — |
Total short-term investments | 45,748 |  |  | 26,840 |  |  | 18,908 |  |  | — |
Cash and cash equivalents | 334,775 |  |  | 334,775 |  |  | — |  |  | — |
Investments | 32,517 |  |  | 32,226 |  |  | 291 |  |  | — |
Other current assets | 30,543 |  |  | 30,543 |  |  | — |  |  | — |
Other assets | 3,788 |  |  | 3,788 |  |  | — |  |  | — |
Total assets measured at fair value | $ | 447,371 |  |  | $ | 428,172 |  |  | $ | 19,199 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Contingent earnout liability | $ | 9,555 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,555 |
Schedule of Reconciliation of Changes in the Fair Value of our 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:
| Three Months Ended June 30, |  | Nine Months Ended June 30,
(in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Net liabilities at beginning of period | $ | 9,015 |  |  | $ | 15,702 |  |  | $ | 11,160 |  |  | $ | 14,879 |
Additions | — |  |  | — |  |  | 673 |  |  | — |
Total gains or losses: |  |  |  |  |  |  |
Included in earnings | 540 |  |  | (175 | ) |  | (2,278 | ) |  | 5,148 |
Settlements (1) | — |  |  | (6,125 | ) |  | — |  |  | (10,625 | )
Net liabilities at end of period | $ | 9,555 |  |  | $ | 9,402 |  |  | $ | 9,555 |  |  | $ | 9,402 |
(1) Settlements represent earnout payments that have been paid or earned during the period.
Schedule of Quantitative Information on Level 3 Unobservable Inputs | The following table provides quantitative information about our Level 3 unobservable inputs at June 30, 2019:
(in thousands) | Fair Value |  | Valuation Technique |  | Unobservable Input |  | Percentage
Contingent Consideration | $ | 9,555 |  |  | Monte Carlo simulation |  | Discount rate |  | 11.0 | %
|  |  |  |  | Revenue volatility |  | 13.0 | %
|  |  |  |  | Risk free rate |  | 2.0 | %
Summary of 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 June 30, 2019 and September 30, 2018:
(in millions) | June 30, 2019 |  | September 30, 2018
Carrying value of long-term fixed-rate debt | $ | 491.7 |  |  | $ | 494.0 |
Fair value of long-term fixed-rate debt | $ | 530.0 |  |  | $ | 509.3 |
Summary of Equity Securities | The following is a summary of our securities, which excludes assets held in a Non-Qualified Supplemental Savings Plan:
(in thousands) | Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Equity Securities: |  |  |  |  |  |  |
June 30, 2019 | $ | 38,473 |  |  | $ | 14,865 |  |  | $ | (21,112 | ) |  | $ | 32,226 |
September 30, 2018 | $ | 38,473 |  |  | $ | 44,023 |  |  | $ | — |  |  | $ | 82,496 |

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- Definition Tabular disclosure of the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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). + References No definition available. + 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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