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Short-Term and Long-Term Investments

3 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Short-Term and Long-Term Investments

Short-Term and Long-Term Investments

Short-term investments consist of the following (in thousands):

December 31, 2021						Cost or Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Certificates of deposits						$	992					$	—					$	—					$	992
Corporate bonds and notes						177,248						10						(165)						177,093
Municipal bonds and notes						15,377						—						(18)						15,359
U.S. government securities						136,091						—						(157)						135,934
U.S. government agency securities						17,193						—						(23)						17,170
						$	346,901					$	10					$	(363)					$	346,548

September 30, 2021						Cost or Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Certificates of deposits						$	255					$	—					$	—					$	255
Corporate bonds and notes						186,043						116						(52)						186,107
Municipal bonds and notes						13,570						1						(5)						13,566
U.S. government securities						102,607						12						(4)						102,615
U.S. government agency securities						27,096						—						(9)						27,087
						$	329,571					$	129					$	(70)					$	329,630

Long-term investments consist of the following (in thousands):

December 31, 2021						Cost or Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Corporate bonds and notes						$	48,845					$	—					$	(207)					$	48,638
Municipal bonds and notes						2,262						—						(23)						2,239
U.S. government securities						24,426						—						(85)						24,341
U.S. government agency securities						1,783						—						(10)						1,773
						$	77,316					$	—					$	(325)					$	76,991

September 30, 2021						Cost or Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Corporate bonds and notes						$	53,128					$	13					$	(34)					$	53,107
Municipal bonds and notes						11,114						1						(4)						11,111
U.S. government securities						59,614						2						(8)						59,608
U.S. government agency securities						8,957						—						(5)						8,952
						$	132,813					$	16					$	(51)					$	132,778

Interest income from investments was $0.3 million and $1.1 million for the three months ended December 31, 2021 and 2020, respectively. Interest income is included in other income (expense), net on the Company's consolidated income statements.

The following table summarizes investments that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for more than 12 months as of December 31, 2021 (in thousands):

						Less Than 12 Months												12 Months or Greater												Total
December 31, 2021						Fair Value						Gross Unrealized Losses						Fair Value						Gross Unrealized Losses						Fair Value						Gross Unrealized Losses
Corporate bonds and notes						$	196,228					$	(372)					$	—					$	—					$	196,228					$	(372)
Municipal bonds and notes						16,144						(41)						—						—						16,144						(41)
U.S. government securities						160,275						(242)						—						—						160,275						(242)
U.S. government agency securities						18,943						(33)						—						—						18,943						(33)
Total						$	391,590					$	(688)					$	—					$	—					$	391,590					$	(688)

The following table summarizes investments that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for more than 12 months as of September 30, 2021 (in thousands):

						Less Than 12 Months												12 Months or Greater												Total
September 30, 2021						Fair Value						Gross Unrealized Losses						Fair Value						Gross Unrealized Losses						Fair Value						Gross Unrealized Losses
Corporate bonds and notes						$	151,986					$	(86)					$	—					$	—					$	151,986					$	(86)
Municipal bonds and notes						13,764						(9)						—						—						13,764						(9)
U.S. government securities						77,401						(12)						—						—						77,401						(12)
U.S. government agency securities						31,384						(14)						—						—						31,384						(14)
Total						$	274,535					$	(121)					$	—					$	—					$	274,535					$	(121)

The Company invests in securities that are rated investment grade. The Company reviews the individual securities in its portfolio to determine whether a credit loss exists by comparing the extent to which the fair value is less than the amortized cost and considering any changes to ratings of a security by a ratings agency. The Company determined that as of December 31, 2021, there were no credit losses on any investments within its portfolio.

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- References

No definition available.

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2324412

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2176304

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph (b)

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