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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

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- 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.

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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.

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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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.

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