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FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended
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Jun. 30, 2022
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value | The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis and indicate the level in the fair value hierarchy in which we classify the fair value measurement.
| June 30, 2022
(in thousands) | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |
Corporate debt securities | $ | 132,629 |  |  | $ | — |  |  | $ | 132,629 |  |  | $ | — |
U.S. government and federal agency securities | 11,702 |  |  | 11,702 |  |  | — |  |  | — |
Total short-term investments | 144,331 |  |  | 11,702 |  |  | 132,629 |  |  | — |
Investments: |  |  |  |  |  |  |
Non-qualified supplemental savings plan | 15,594 |  |  | 15,594 |  |  | — |  |  | — |
Debt securities | 3,524 |  |  | — |  |  | — |  |  | 3,524 |
Equity investment in ADNOC Drilling | 147,786 |  |  | 147,786 |  |  | — |  |  | — |
Debt security investment in Galileo | 33,000 |  |  | — |  |  | — |  |  | 33,000 |
Total investments | 199,904 |  |  | 163,380 |  |  | — |  |  | 36,524 |
Liabilities |  |  |  |  |  |  |
Contingent consideration | $ | 3,996 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,996 |
| September 30, 2021
(in thousands) | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |
Corporate debt securities | $ | 192,950 |  |  | $ | — |  |  | $ | 192,950 |  |  | $ | — |
U.S. government and federal agency securities | 5,750 |  |  | 5,750 |  |  | — |  |  | — |
Total short-term investments | 198,700 |  |  | 5,750 |  |  | 192,950 |  |  | — |
Investments: |  |  |  |  |  |  |
Non-qualified supplemental savings plan | 18,221 |  |  | 18,221 |  |  | — |  |  | — |
Equity and debt securities | 14,358 |  |  | 13,858 |  |  | — |  |  | 500 |
Cornerstone investment in ADNOC Drilling | 100,000 |  |  | 100,000 |  |  | — |  |  | — |
Total investments | 132,579 |  |  | 132,079 |  |  | — |  |  | 500 |
Liabilities |  |  |  |  |  |  |
Contingent consideration | $ | 2,996 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,996 |
Schedule of Reconciliation of Long Term Debt Securities Available For Sale, Classified as Level 3 | The following table reconciles changes in the fair value of our Level 3 assets for the periods presented below:
| Three Months Ended June 30, |  | Nine Months Ended June 30,
(in thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Assets at beginning of period | $ | 3,500 |  |  | $ | 500 |  |  | $ | 500 |  |  | $ | 500 |
Additions | 33,024 |  |  | — |  |  | 36,024 |  |  | — |
Assets at end of period | $ | 36,524 |  |  | $ | 500 |  |  | $ | 36,524 |  |  | $ | 500 |
Schedule of Reconciliation of Changes in the Fair Value of Financial liabilities Classified as Level 3 | The following table reconciles changes in the fair value of our Level 3 liabilities for the periods presented below:
| Three Months Ended June 30, |  | Nine Months Ended June 30,
(in thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Liabilities at beginning of period | $ | 2,996 |  |  | $ | 8,973 |  |  | $ | 2,996 |  |  | $ | 9,123 |
Additions | 1,000 |  |  | — |  |  | 1,500 |  |  | — |
Total gains or losses: |  |  |  |  |  |  |
Included in earnings | — |  |  | 823 |  |  | (250) |  |  | 923 |
Settlements 1 | — |  |  | — |  |  | (250) |  |  | (250) |
Liabilities at end of period | $ | 3,996 |  |  | $ | 9,796 |  |  | $ | 3,996 |  |  | $ | 9,796 |
(1)Settlements represent earnout payments that have been paid or earned during the period.
Schedule of Reconciliation of Changes in the Fair Value of Financial Assets Classified as Level 3 | The following table reconciles changes in the balance of our equity securities, without readily determinable fair values, for the periods presented below:
| Three Months Ended June 30, |  | Nine Months Ended June 30,
(in thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Assets at beginning of period | $ | 13,990 |  |  | $ | 1,000 |  |  | $ | 2,865 |  |  | $ | — |
Additions | 62 |  |  | 1,865 |  |  | 11,187 |  |  | 2,865 |
Assets at end of period | $ | 14,052 |  |  | $ | 2,865 |  |  | $ | 14,052 |  |  | $ | 2,865 |
Schedule of Supplemental Fair Value Information about Long-Term Fixed-Rate Debt | The following information presents the supplemental fair value information for our current and long-term fixed-rate debt at June 30, 2022 and September 30, 2021:
(in millions) | June 30, 2022 |  | September 30, 2021
Current portion of long-term debt, net 1 |  |  |
Carrying value | $ | — |  |  | $ | 483.5 |
Fair value | — |  |  | 541.6 |
Long-term debt, net |  |  |
Carrying value | 542.3 |  |  | 542.0 |
Fair value | 472.8 |  |  | 554.3 |
(1)On October 27, 2021 we redeemed the outstanding 2025 Notes. See Note 6—Debt.

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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. + 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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + 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 https://asc.fasb.org/extlink&oid=126976982&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 (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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