XML 47 R36.htm IDEA: XBRL DOCUMENT
v3.21.1

FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended
--- | ---
Mar. 31, 2021
Fair Value Disclosures [Abstract] |
Schedule 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 March 31, 2021:
(in thousands) | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Recurring fair value measurements: |  |  |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |
Corporate debt securities | 129,467 |  |  | — |  |  | 129,467 |  |  | — |
U.S. government and federal agency securities | 5,024 |  |  | 5,024 |  |  | — |  |  | — |
Total short-term investments | 134,491 |  |  | 5,024 |  |  | 129,467 |  |  | — |
Cash and cash equivalents | 427,243 |  |  | 427,243 |  |  | — |  |  | — |
Investments | 14,623 |  |  | 12,711 |  |  | 412 |  |  | 1,500 |
Other current assets | 48,457 |  |  | 48,457 |  |  | — |  |  | — |
Other assets | 2,935 |  |  | 2,935 |  |  | — |  |  | — |
Total assets measured at fair value | $ | 627,749 |  |  | $ | 496,370 |  |  | $ | 129,879 |  |  | $ | 1,500 |
Liabilities: |  |  |  |  |  |  |
Contingent earnout liability | $ | 8,973 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,973 |
Schedule of Reconciliation of Changes in the 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 liabilities classified as Level 3 fair value measurements in the fair value hierarchy for the indicated periods:
| Three Months Ended March 31, |  | Six Months Ended March 31,
(in thousands) | 2021 |  | 2020 |  | 2021 |  | 2020
Net liabilities at beginning of period | $ | 8,973 |  |  | $ | 19,873 |  |  | $ | 9,123 |  |  | $ | 18,373 |
Additions | — |  |  | — |  |  | — |  |  | 1,500 |
Total gains or losses: |  |  |  |  |  |  |
Included in earnings | — |  |  | (3,800) |  |  | 100 |  |  | (3,800) |
Settlements (1) | — |  |  | (4,250) |  |  | (250) |  |  | (4,250) |
Net liabilities at end of period | $ | 8,973 |  |  | $ | 11,823 |  |  | $ | 8,973 |  |  | $ | 11,823 |
(1)Settlements represent earnout payments that have been paid or earned during the period.
Schedule of Quantitative Information about Level 3 Unobservable Inputs | The following table provides quantitative information (in thousands) about our Level 3 unobservable inputs related to our financial liabilities at March 31, 2021:
Fair Value |  | Valuation Technique |  | Unobservable Input |  | Unobservable Input |  | Range |  | Weighted Average (1)
$1,000 |  | Monte Carlo simulation |  | Discount rate |  | 1.4 | % |  |  |  |
|  |  |  | Revenue Volatility |  | 44.4 | % |  |  |  |
|  |  |  | Risk free rate |  | 2.3 | % |  |  |  |
$7,973 |  | Probability analysis |  | Discount rate |  | 0.5 | % |  |  |  |
|  |  |  | Payment amounts |  |  |  | $5,250 - $7,000 |  | $ | 6,400 |
|  |  |  | Probabilities |  |  |  | 40% - 60% |  | 53 | %
(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.
Schedule 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 March 31, 2021 and September 30, 2020:
(in millions) | March 31, 2021 |  | September 30, 2020
Carrying value of long-term fixed-rate debt | $ | 481.6 |  |  | $ | 480.7 |
Fair value of long-term fixed-rate debt | 535.4 |  |  | 534.5 |

X
- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are 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. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + 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 (b) -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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=117815213&loc=SL7498348-110258 Reference 4: 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 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=121572278&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
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration