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Investments, Debt and Equity Securities
 12 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Fair Value Disclosures [Text Block]
16. FAIR VALUE MEASUREMENTS

 
Fair value is considered the price to sell an asset, or transfer a liability, between market participants on the measurement date. Fair value measurements assume that (1) the asset or liability is exchanged in an orderly manner, (2) the exchange is in the principal market for that asset or liability, and (3) the market participants are independent, knowledgeable, able and willing to transact an exchange. Fair value accounting and reporting establishes a framework for measuring fair value by creating a hierarchy for observable independent market inputs and unobservable market assumptions and expands disclosures about fair value measurements. Judgment is required to interpret the market data used to develop fair value estimates. As such, the estimates presented herein are not necessarily indicative of the amounts that could be realized in a current exchange. The use of different market assumptions and/or estimation methods could have a material effect on the estimated fair value.

At September 30, 2025, financial assets and liabilities measured at fair value on a recurring basis were limited to investments in equity securities and debt securities classified as trading securities, our Executive Savings Plan, under which certain employees are permitted to defer a portion of their base salary and/or bonus for a Plan Year (as defined in the plan), and contingent consideration liabilities related to certain of our acquisitions.
Financial assets (liabilities) measured at fair value on a recurring basis as of September 30, 2025 and 2024, are summarized in the following tables by the type of inputs applicable to the fair value measurements:
September 30, 2025
Total Fair ValueQuoted Prices (Level 1)Significant Unobservable (Level 3)
Equity securities$104,587 $104,587 $— 
Executive savings plan assets1,120 1,120 — 
Executive savings plan liabilities(984)(984)— 
Contingent consideration liability(2,113)— (2,113)
Total$102,610 $104,723 $(2,113)

September 30, 2024
Total Fair ValueQuoted Prices (Level 1)Significant Unobservable (Level 3)
Equity securities$31,639 $31,639 $— 
Debt securities classified as trading securities3,364 3,364 — 
Executive savings plan assets986 986 — 
Executive savings plan liabilities(852)(852)— 
Contingent consideration liability(3,468)— (3,468)
Total$31,669 $35,137 $(3,468)
On April 1, 2024, we entered into a contingent consideration arrangement valued at $2,790 in connection with the acquisition of Greiner Industries, Inc. (“Greiner”). A portion of the contingent consideration obligation related to Greiner was settled in cash for $2,500 in September 2025. The fair value of this liability, which was included in “Accounts payable and accrued expenses” in our Consolidated Balance Sheets, is measured on a recurring basis classified within Level 3 of the fair value hierarchy. The contingent consideration obligation related to Bayonet, which was acquired in fiscal year 2021, was settled in cash for $4,500 in December 2023. Net adjustments to fair value of such liabilities related to Greiner and Bayonet were included in Contingent consideration in our Consolidated Statements of Comprehensive Income.
The table below presents the change in fair value of liabilities measured using significant unobservable inputs (Level 3).
Contingent Consideration Agreement
Fair value at September 30, 2023$(4,465)
Acquisitions(2,790)
Net adjustments to fair value$(713)
Settlements4,500 
Fair value at September 30, 2024$(3,468)
Net adjustments to fair value(1,145)
Settlements2,500 
Fair value at September 30, 2025$(2,113)

Below is a description of the inputs used to value the assets summarized in the preceding tables:

Level 1 — Inputs represent unadjusted quoted prices for identical assets exchanged in active markets.

Level 2 — Inputs include directly or indirectly observable inputs other than Level 1 inputs such as quoted prices for similar assets exchanged in active or inactive markets; quoted prices for identical assets exchanged in inactive markets; and other inputs that are considered in fair value determinations of the assets.

Level 3 — Inputs include unobservable inputs used in the measurement of assets. Management is required to use its own assumptions regarding unobservable inputs because there is little, if any, market activity in the assets or related observable inputs that can be corroborated at the measurement date.
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure
Investments in Marketable Securities

Investments in marketable equity and debt securities classified as trading securities, which were included in “Marketable securities” in our Consolidated Balance Sheets, are measured at fair value on a recurring basis and classified within Level 1 of the fair value hierarchy, because we use quoted prices of identical assets in active markets. For more information, refer to Note 16, “Fair Value Measurements.” The balance of our marketable securities was as follows:
September 30,
20252024
Marketable equity securities104,587 31,639 
Marketable debt securities— 3,364 
Marketable securities104,587 35,003 
Gains and losses to measure our investments in marketable equity and debt securities at fair value were included in “Other income, net” on our Consolidated Statements of Comprehensive Income. Our unrealized net gains (losses), which are calculated as total net gains (losses) recognized during the period less net gains (losses) recognized on securities sold during the period, were as follows:

Year Ended September 30,
202520242023
Unrealized gain on equity securities$7,485 $1,492 $— 
Unrealized gain on debt securities— 297 — 
Total unrealized gain on trading securities$7,485 $1,789 $— 
Equity Method Investments and Joint Ventures Disclosure
Equity Method Investments
On December 2, 2024, we paid $44,900 to acquire a 12.5% membership interest in Jett Texas Company LLC (“Jett”), an investment company, as part of the financing of Jett's investment in the CB&I storage solutions business, a designer and builder of storage facilities, tanks and terminals for energy and industrial markets. Our investment, which was included in “Investments” on our Consolidated Balance Sheets, is measured using the equity method of accounting, wherein the carrying value of our investment is initially recorded at cost basis and subsequently adjusted for our proportionate share of earnings or losses, additional investments, and distributions. We recorded $14,762 in earnings from our investment in Jett for the year ended September 30, 2025, and the carrying value of our investment in Jett was $59,662 at September 30, 2025.