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Available-For-Sale Securities

12 Months Ended

Sep. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Available-For-Sale Securities

Note 6 — Available-For-Sale Securities 

In fiscal year 2019 the Company sold most of its available-for-sale securities, in total amount of $101,287, the realized losses recognized from this sale were immaterial and were recorded in the consolidated statements of income. In Fiscal year 2020, the Company didn’t have any sale of Available-for-sale securities. 

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

		As of September 30, 2020
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Money market funds		$	558,633			$	—			$	—			$	558,633
Corporate bonds			754				—				2				752
Total(1)		$	559,387			$	—			$	2			$	559,385

(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, 2020, $752 of securities were classified as short-term interest-bearing investments and $558,633 of securities were classified as cash and cash equivalents.

		As of September 30, 2019
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Money market funds		$	69,370			$	—			$	—			$	69,370
Total(1)		$	69,370			$	—			$	—			$	69,370

(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, 2019, all the securities were classified as cash and cash equivalents.

As of September 30, 2020, the immaterial 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 2020, 2019 and 2018. Realized gains and losses on available-for-sale securities were included in earning and are derived using the first-in-first-out (FIFO) method for determining the cost of securities.

As of September 30, 2020, the Company’s available-for-sale securities had the following maturity dates:

		Market Value
Due within one year		$	558,633
1 to 2 years			—
2 to 3 years			752
3 to 4 years			—
Thereafter			—
		$	559,385

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- References

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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

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