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FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value

The following tables summarize our assets and liabilities measured at fair value presented in our Unaudited Condensed Consolidated Balance Sheets as of June 30, 2021 and September 30, 2020:

			June 30, 2021
(in thousands)			Fair Value						Level 1						Level 2						Level 3
Recurring fair value measurements:
Cash and cash equivalents			370,553						370,553						$	—					$	—
Short-term investments:
Corporate debt securities			179,423						—						179,423						—
U.S. government and federal agency securities			7,833						7,833						—						—
Total short-term investments			187,256						7,833						179,423						—
Other current assets			48,434						48,434						—						—
Investments:
Non-qualified supplemental savings plan			18,556						18,556						—						—
Debt and equity securities			18,330						14,965						—						3,365
Total investments			36,886						33,521						—						3,365
Other assets			2,885						2,885						—						—
Total assets measured at fair value			$	646,014					$	463,226					$	179,423					$	3,365
Liabilities:
Contingent earnout liability			$	9,796					$	—					$	—					$	9,796

			September 30, 2020
(in thousands)			Fair Value						Level 1						Level 2						Level 3
Recurring fair value measurements:
Cash and cash equivalents			$	487,884					$	487,884					$	—					$	—
Short-term investments:
Certificates of deposit			1,370						—						1,370						—
Corporate debt securities			78,156						—						78,156						—
U.S. government and federal agency securities			7,817						7,817						—						—
Other			1,992						1,992						—						—
Total short-term investments			89,335						9,809						79,526						—
Other current assets			45,577						45,577						—						—
Investments:
Non-qualified supplemental savings plan			19,819						19,819						—						—
Debt and equity securities			11,766						7,274						3,992						500
Total investments			31,585						27,093						3,992						500
Other assets			3,286						3,286						—						—
Total assets measured at fair value			$	657,667					$	573,649					$	83,518					$	500
Liabilities:
Contingent earnout liability			$	9,123					$	—					$	—					$	9,123

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 June 30,												Nine Months Ended June 30,
(in thousands)			2021						2020						2021						2020
Net liabilities at beginning of period			$	8,973					$	11,823					$	9,123					$	18,373
Additions			—						—						—						1,500
Total gains or losses:
Included in earnings			823						900						923						(2,900)
Settlements (1)			—						—						(250)						(4,250)
Net liabilities at end of period			$	9,796					$	12,723					$	9,796					$	12,723

(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 June 30, 2021:

Fair Value						Valuation Technique						Unobservable Input						Unobservable Input						Range						Weighted Average (1)
$700						Monte Carlo simulation						Discount rate						1.2		%
												Revenue Volatility						18.4		%
												Risk free rate						2.0		%
$9,096						Probability analysis						Discount rate						0.5		%
												Payment amounts												$5,250 - $9,096						$	6,900
												Probabilities												5% - 95%						92		%

(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 June 30, 2021 and September 30, 2020:

(in millions)			June 30, 2021						September 30, 2020
Carrying value of long-term fixed-rate debt			$	481.0					$	480.7
Fair value of long-term fixed-rate debt			542.4						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 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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