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Fair Value Measures and Disclosures
 9 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block] Fair Value Measurements
In accordance with the authoritative guidance on fair value measurements and disclosure under GAAP, the Company determines fair value using a fair value hierarchy that distinguishes between market participant assumptions developed based on market data obtained from sources independent of the reporting entity, and the reporting entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances and expands disclosure about fair value measurements.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date, essentially the exit price.
The levels of fair value hierarchy are:
Level 1: Quoted prices in active markets for identical assets and liabilities at the measurement date that the Company has the ability to access.
Level 2: Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.
Level 3: Unobservable inputs for which there is little or no market data available. These inputs reflect management's assumptions of what market participants would use in pricing the asset or liability.
Level 1 investments are valued based on quoted market prices in active markets and include the Company's cash equivalent investments. Level 2 investments, which include investments that are valued based on quoted prices in markets that are not active, broker or dealer quotations, actual trade data, benchmark yields or alternative pricing sources with reasonable levels of price transparency, include the Company's certificates of deposit, corporate bonds and notes, municipal bonds and notes, U.S. government securities, U.S. government agency securities and international government securities. Fair values for the Company's level 2 investments are based on similar assets without applying significant judgments. In addition, all of the
Company's level 2 investments have a sufficient level of trading volume to demonstrate that the fair values used are appropriate for these investments.
A financial instrument's level within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. However, the determination of what constitutes "observable" requires significant judgment by the Company. The Company considers observable data to be market data which is readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market.
Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis
The Company's financial assets measured at fair value on a recurring basis subject to the disclosure requirements at June 30, 2024 and September 30, 2023, were as follows (in thousands):
  Gross Unrealized Classification on Balance Sheet
As of June 30, 2024Fair Value Level Cost or Amortized Cost Gains Losses Aggregate
Fair Value		Cash and Cash Equivalents Short-Term Investments Long-Term Investments
Changes in fair value recorded in other comprehensive income (loss)
Money Market FundsLevel 1$396,777 $— $— $396,777 $396,777 $— $— 
Corporate bonds and notesLevel 2817 — (5)812 — 812 — 
Total debt investments$397,594 $— $(5)$397,589 $396,777 $812 $— 
Changes in fair value recorded in other income (expense), net
Equity investments*$7,298 $— $— $7,298 
Total equity investments7,298 — — 7,298 
Total investments$404,887 $396,777 $812 $7,298 
 * The fair value of this equity investment is measured at net asset value (NAV) which approximates fair value and is not classified within the fair value hierarchy.
  Gross Unrealized Classification on Balance Sheet
As of September 30, 2023Fair Value LevelCost or Amortized Cost Gains Losses Aggregate
Fair Value		Cash and Cash Equivalents Short-Term Investments Long-Term Investments
Changes in fair value recorded in other comprehensive income (loss)
Money Market FundsLevel 1$392,592 $— $— $392,592 $392,592 $— $— 
Corporate bonds and notesLevel 24,412 — (88)4,324 — 4,324 — 
Municipal bonds and notesLevel 21,108 — (9)1,099 — 1,099 — 
U.S. government agency securitiesLevel 2740 — (3)737 — 737 — 
Total debt investments$398,852 $— $(100)$398,752 $392,592 $6,160 $— 
Changes in fair value recorded in other income (expense), net
Equity investments*$5,068 $— $— $5,068 
Total equity investments5,068 — — 5,068 
Total investments$403,820 $392,592 $6,160 $5,068 
* The fair value of this equity investment is measured at NAV which approximates fair value and is not classified within the fair value hierarchy.
The Company uses the fair value hierarchy for financial assets and liabilities. The carrying amounts of other current financial assets and other current financial liabilities approximate fair value due to their short-term nature.
Interest income from cash, cash equivalents, and investments was $8.9 million and $5.4 million for the three months ended June 30, 2024 and 2023, respectively, and $25.0 million and $11.5 million for the nine months ended June 30, 2024 and 2023, respectively. Interest income is included in other income (expense), net on the Company's consolidated income statements. Unrealized losses on investments held for a period greater than 12 months at June 30, 2024 and September 30, 2023 were not material.
The Company invests in debt securities that are rated investment grade. The Company reviews the individual debt 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 debt security by a ratings agency. The Company determined that as of June 30, 2024, there were no credit losses on any investments within its portfolio.
Assets Measured and Recorded at Fair Value on a Non-Recurring Basis
The Company's non-financial long-lived assets, which include goodwill and other intangible assets, are not required to be carried at fair value on a recurring basis. These non-financial assets are measured at fair value on a non-recurring basis when there is an indicator of impairment, and they are recorded at fair value only when impairment is recognized. The Company reviews goodwill for impairment annually, during the second quarter of each fiscal year, or as circumstances indicate the possibility of impairment. The Company monitors the carrying value of tangible and intangible long-lived assets for impairment whenever events or changes in circumstances indicate its carrying amount may not be recoverable.
During the three months ended June 30, 2023, the Company recorded an impairment of $3.5 million against the operating lease right-of-use asset related to its third quarter of fiscal 2023 restructuring plan. See Note 13, Restructuring Charges. The charge was reflected in the Restructuring Charges line item on the Company's consolidated income statements.
The Company did not recognize any other impairment charges related to non-financial long-lived assets for the three and nine months ended June 30, 2024 and 2023.