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FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements, Recurring and Nonrecurring

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 as of the dates indicated below.

			September 30, 2024
(in thousands)			Fair Value						Level 1						Level 2						Level 3
Assets
Short-term investments:
Corporate debt securities			$	33,813					$	—					$	33,813					$	—
U.S. government and federal agency securities			53,490						53,490						—						—
Investment in ADNOC Drilling			205,616						205,616						—						—
Total			292,919						259,106						33,813						—
Long-term investments:
Recurring fair value measurements:
Equity securities:
Non-qualified supplemental savings plan			15,633						15,633						—						—
Investment in Tamboran			20,958						20,958						—						—
Debt securities:
Investment in Galileo, net			27,044						—						—						27,044
Geothermal debt securities, net			2,000						—						—						2,000
Other debt securities			4,588						4,338						—						250
Total			$	70,223					$	40,929					$	—					$	29,294

			September 30, 2023
(in thousands)			Fair Value						Level 1						Level 2						Level 3
Assets
Short-term investments:
Corporate debt securities			$	48,764					$	—					$	48,764					$	—
U.S. government and federal agency securities			44,836						44,836						—						—
Total			$	93,600					$	44,836					$	48,764					$	—
Long-term investments:
Recurring fair value measurements:
Equity securities:
Non-qualified supplemental savings plan			14,597						14,597						—						—
Investment in ADNOC Drilling			174,758						174,758						—						—
Investment in Tamboran			9,920						9,920						—						—
Debt securities:
Investment in Galileo			35,434						—						—						35,434
Geothermal debt securities, net			2,006						—						—						2,006
Total			$	236,715					$	199,275					$	—					$	37,440
Liabilities
Contingent consideration			$	9,455					$	—					$	—					$	9,455

Schedule of Fair Value, Debt Security Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides quantitative information about our Level 3 unobservable significant inputs related to our debt security investment with Galileo at the dates included below:

September 30, 2024
Fair Value (in thousands)						Valuation Technique						Unobservable Inputs
$	27,044					Black-Scholes-Merton model						Discount rate			18.7		%
												Risk-free rate			3.5		%
												Equity volatility			66.0		%

September 30, 2023
Fair Value (in thousands)						Valuation Technique						Unobservable Inputs
$	35,434					Black-Scholes-Merton model						Discount rate			19.2		%
												Risk-free rate			4.3		%
												Equity volatility			92.0		%

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:

			Year Ended September 30,
(in thousands)			2024						2023
Assets at beginning of period			$	37,440					$	33,565
Purchases			250						2,122
Accrued interest1			1,771						2,434
Total gains or (losses):
Included in earnings2			(10,167)						(681)
Assets at end of period			$	29,294					$	37,440

(1)During the fiscal year ended September 30, 2023, our convertible note agreement with Galileo was amended to include any interest which has accrued but not yet compounded or issued as a funding note. As a result, we have included accrued interest in our total investment balance.

(2)During the fiscal years ended September 30, 2024 and September 30, 2023, we recorded an allowance for credit loss related to our Galileo investment and one of our geothermal debt securities as the balance is deemed to be uncollectible.

The following table reconciles changes in the balance of our equity securities, without readily determinable fair values, including investments that have been subsequently marked to fair value, for the periods presented below:

			Year Ended September 30,
(in thousands)			2024						2023
Assets at beginning of period			$	28,232					$	23,745
Purchases			3,870						4,487
Disposals			(616)						—
Total gains or (losses):
Included in earnings			(1,396)						—
Assets at end of period			$	30,090					$	28,232

Schedule of Reconciliation of Changes in 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:

(in thousands)			2024						2023
Liabilities at beginning of period			$	9,455					$	4,022
Additions			—						500
Total gains or losses:
Included in earnings			6,670						7,808
Settlements1			(16,125)						(2,875)
Liabilities at end of period			$	—					$	9,455

(1)Settlements represent earnout payments that have been paid or earned during the period.

Schedule of Supplemental Fair Value Information about Long-Term Fixed-Rate Debt

The following information presents the supplemental fair value information for our long-term fixed-rate debt at September 30, 2024 and 2023:

			September 30,
(in millions)			2024						2023
Long-term debt, net
Carrying value			1,782.2						545.1
Fair value			1,702.9						435.5

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- Definition

Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity.

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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).

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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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