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Available-For-Sale Securities

12 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Available-For-Sale Securities

Note 6 — Available-For-Sale Securities

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

		As of September 30, 2022
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Money market funds		$	266,362			$	—			$	—			$	266,362
Corporate bonds			183,266				—				14,958				168,308
U.S. government treasuries			44,658				—				4,429				40,229
Municipal bond			17,759				—				1,634				16,125
Supranational and sovereign debt			11,882				—				1,288				10,594
Asset backed obligations			9,835				—				488				9,347
Total(1)		$	533,762			$	—			$	22,797			$	510,965

(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 consolidated balance sheets. As of September 30, 2022, $244,603 of securities were classified as short-term interest-bearing investments and $266,362 of securities were classified as cash and cash equivalents.

		As of September 30, 2021
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Money market funds		$	209,026			$	—			$	—			$	209,026
Corporate bonds			191,445				76				1,084				190,437
U.S. government treasuries			54,987				4				239				54,752
Supranational and sovereign debt			7,479				—				26				7,453
Asset backed obligations			3,890				—				5				3,885
Total(1)		$	466,827			$	80			$	1,354			$	465,553

(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 consolidated balance sheets. As of September 30, 2021, $256,527 of securities were classified as short-term interest-bearing investments and $209,026 of securities were classified as cash and cash equivalents.

As of September 30, 2022, the unrealized losses attributable to the Company’s available-for-sale securities were primarily due to credit spreads and interest rate movements, the majority of the securities that have unrealized losses as of September 30, 2022, also had immaterial unrealized losses as of September 30, 2021. The Company assessed whether such unrealized losses for the investments in its portfolio were caused by expected credit loss. Based on this assessment, the Company did not recognize any credit losses in the fiscal years ended September 30, 2022 and 2021. Realized gains and losses on short-term interest-bearing investments are included in earnings and are determined based on specific identification method.

As of September 30, 2022, the Company’s available-for-sale securities had the following maturity dates:

		Market Value
Due within one year		$	285,671
1 to 2 years			59,726
2 to 3 years			85,794
3 to 4 years			67,113
Thereafter			12,661
		$	510,965

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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 https://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 https://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 https://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 https://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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