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Available-For-Sale Securities
12 Months Ended
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Available-For-Sale Securities

Note 5 — Available-For-Sale Securities

Available-for-sale securities consist of the following interest-bearing investments:

 

     As of September 30, 2018  
     Amortized
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
Losses
     Fair Value  

Corporate bonds

   $ 48,252      $ —        $ 721      $ 47,531  

Money market funds

     30,883        —          —          30,883  

U.S. government treasuries

     23,656        —          398        23,258  

U.S. agency securities

     16,297        —          264        16,033  

Asset backed obligations

     9,312        —          135        9,177  

Supranational and sovereign debt

     4,508        —          74        4,434  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total(1)

   $ 132,908      $ —        $ 1,592      $ 131,316  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1)

Available-for-sale securities with maturities longer than 90 days from the date of acquisition were classified as short-term interest-bearing investments and available-for-sale securities with maturities of 90 days or less from the date of acquisition were included in cash and cash equivalents on the Company’s balance sheet. As of September 30, 2018, $100,433 of securities were classified as short-term interest-bearing investments and $30,883 of securities were classified as cash and cash equivalents.

 

     As of September 30, 2017  
     Amortized
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
Losses
     Fair Value  

Corporate bonds

   $ 98,367      $ 176      $ 158      $ 98,385  

U.S. government treasuries

     84,558        —          195        84,363  

U.S. agency securities

     60,794        —          148        60,646  

Money market funds

     52,504        —          —          52,504  

Asset backed obligations

     47,108        —          34        47,074  

Commercial paper and certificates of deposit

     33,448        —          —          33,448  

Supranational and sovereign debt

     8,819        —          42        8,777  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total(1)

   $ 385,598      $ 176      $ 577      $ 385,197  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1)

Available-for-sale securities with maturities longer than 90 days from the date of acquisition were classified as short-term interest-bearing investments and available-for-sale securities with maturities of 90 days or less from the date of acquisition were included in cash and cash equivalents on the Company’s balance sheet. As of September 30, 2017, $329,997 of securities were classified as short-term interest-bearing investments and $55,200 of securities were classified as cash and cash equivalents.

As of September 30, 2018, the unrealized losses attributable to the Company’s available-for-sale securities were primarily due to credit spreads and interest rate movements. The Company assessed whether such unrealized losses for the investments in its portfolio were other-than-temporary. Based on this assessment, the Company did not recognize any credit losses in fiscal years 2018, 2017 and 2016.

As of September 30, 2018, the Company’s available-for-sale securities had the following maturity dates:

 

     Market Value  

Due within one year

   $ 63,069  

1 to 2 years

     44,615  

2 to 3 years

     20,255  

3 to 4 years

     2,382  

Thereafter

     995  
  

 

 

 
   $ 131,316