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Investments & Fair Value Measurements (Tables) | 9 Months Ended
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Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract] |
Schedule Of Financial Assets and Liabilities Carried At Fair Value | Our cash and investment portfolio consisted of the following (in thousands):
| June 30, 2023 |  |  |
| Cost | Unrealized |  |  | Estimated Fair Value |  |  |  |  |
| Gains | Losses | Total |  | Level 1 | Level 2 | Level 3 |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 693,427 |  | $ | — |  | $ | — |  | $ | 693,427 |  |  | $ | 693,427 |  | $ | — |  | $ | — |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | 71,651 |  | 1 |  | — |  | 71,652 |  |  | 71,652 |  | — |  | — |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 765,078 |  | 1 |  | — |  | 765,079 |  |  | 765,079 |  | — |  | — |  |  |  |  |  |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificate of deposit | 12,476 |  | 1 |  | (12) |  | 12,465 |  |  | — |  | 12,465 |  | — |  |  |  |  |  |  |  |  |  |
U.S. agency securities | 5,891 |  | 2 |  | (18) |  | 5,875 |  |  | — |  | 5,875 |  | — |  |  |  |  |  |  |  |  |  |
Government bonds | 43,337 |  | 1 |  | (624) |  | 42,714 |  |  | 40,026 |  | 2,688 |  | — |  |  |  |  |  |  |  |  |  |
Commercial paper | 5,580 |  | — |  | (4) |  | 5,576 |  |  | — |  | 5,576 |  | — |  |  |  |  |  |  |  |  |  |
Corporate bonds | 37,386 |  | — |  | (396) |  | 36,990 |  |  | — |  | 36,990 |  | — |  |  |  |  |  |  |  |  |  |
Municipal debt securities | 20,730 |  | 1 |  | (141) |  | 20,590 |  |  | — |  | 20,590 |  | — |  |  |  |  |  |  |  |  |  |
Short-term investments | 125,400 |  | 5 |  | (1,195) |  | 124,210 |  |  | 40,026 |  | 84,184 |  | — |  |  |  |  |  |  |  |  |  |
Long-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government bonds | 33,419 |  | — |  | (1,150) |  | 32,269 |  |  | 31,390 |  | 879 |  | — |  |  |  |  |  |  |  |  |  |
Corporate bonds | 35,929 |  | 2 |  | (707) |  | 35,224 |  |  | — |  | 35,224 |  | — |  |  |  |  |  |  |  |  |  |
Municipal debt securities | 21,633 |  | 32 |  | (232) |  | 21,433 |  |  | — |  | 21,433 |  | — |  |  |  |  |  |  |  |  |  |
Other investments (1) | 9,177 |  | — |  | — |  | 9,177 |  |  | — |  | — |  | — |  |  |  |  |  |  |  |  |  |
Long-term investments | 100,158 |  | 34 |  | (2,089) |  | 98,103 |  |  | 31,390 |  | 57,536 |  | — |  |  |  |  |  |  |  |  |  |
Total cash, cash equivalents, and investments | $ | 990,636 |  | $ | 40 |  | $ | (3,284) |  | $ | 987,392 |  |  | $ | 836,495 |  | $ | 141,720 |  | $ | — |  |  |  |  |  |  |  |  |  |
Investments held in supplemental retirement plan: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets | $ | 4,186 |  | $ | — |  | $ | — |  | $ | 4,186 |  |  | $ | 4,186 |  | $ | — |  | $ | — |  |  |  |  |  |  |  |  |  |
Included in prepaid expenses and other current assets and other non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Liabilities | $ | 4,186 |  | $ | — |  | $ | — |  | $ | 4,186 |  |  | $ | 4,186 |  | $ | — |  | $ | — |  |  |  |  |  |  |  |  |  |
Included in accrued liabilities and other non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Currency derivatives as hedge instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets: Included in other current assets | $ | — |  | $ | 597 |  | $ | — |  | $ | 597 |  |  | $ | — |  | $ | 597 |  | $ | — |  |  |  |  |  |  |  |  |  |
Liabilities: Included in other accrued liabilities | $ | — |  | $ | — |  | $ | (572) |  | $ | (572) |  |  | $ | — |  | $ | (572) |  | $ | — |  |  |  |  |  |  |  |  |  |
(1)Other investments as of June 30, 2023 is primarily comprised of an equity method investment of $3.9 million and an equity security without a readily determinable fair value, valued at $5.0 million. The equity method investment is measured at cost minus impairment, if any, adjusted for our proportionate share of the investee's net income or loss. Our share of the equity method investee's net income or loss is included in other income/(expense), net on the unaudited interim condensed consolidated statements of operations. Our share of the equity method investee's net income was not material in the third quarter of fiscal 2023 and was $3.1 million in the third quarter of fiscal 2022. Our share of the equity method investee's net income was $2.4 million and $3.5 million in fiscal year-to-date periods ended June 30, 2023 and July 1, 2022, respectively.
| September 30, 2022 |  |  |
| Cost | Unrealized |  |  | Estimated Fair Value |  |  |  |  |
| Gains | Losses | Total |  | Level 1 | Level 2 | Level 3 |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 474,813 |  | $ | — |  | $ | — |  | $ | 474,813 |  |  | $ | 474,813 |  | $ | — |  | $ | — |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | 134,987 |  | — |  | — |  | 134,987 |  |  | 134,987 |  | — |  | — |  |  |  |  |  |  |  |  |  |
U.S. agency securities | 10,328 |  | — |  | (1) |  | 10,327 |  |  | — |  | 10,327 |  | — |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 620,128 |  | — |  | (1) |  | 620,127 |  |  | 609,800 |  | 10,327 |  | — |  |  |  |  |  |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificate of deposit | 23,033 |  | 8 |  | (47) |  | 22,994 |  |  | — |  | 22,994 |  | — |  |  |  |  |  |  |  |  |  |
U.S. agency securities | 3,412 |  | — |  | (21) |  | 3,391 |  |  | — |  | 3,391 |  | — |  |  |  |  |  |  |  |  |  |
Government bonds | 57,417 |  | — |  | (705) |  | 56,712 |  |  | 52,833 |  | 3,879 |  | — |  |  |  |  |  |  |  |  |  |
Commercial paper | 8,786 |  | 1 |  | (15) |  | 8,772 |  |  | — |  | 8,772 |  | — |  |  |  |  |  |  |  |  |  |
Corporate bonds | 72,730 |  | — |  | (734) |  | 71,996 |  |  | — |  | 71,996 |  | — |  |  |  |  |  |  |  |  |  |
Municipal debt securities | 25,589 |  | — |  | (241) |  | 25,348 |  |  | — |  | 25,348 |  | — |  |  |  |  |  |  |  |  |  |
Short-term investments | 190,967 |  | 9 |  | (1,763) |  | 189,213 |  |  | 52,833 |  | 136,380 |  | — |  |  |  |  |  |  |  |  |  |
Long-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agency securities | 861 |  | — |  | (39) |  | 822 |  |  | — |  | 822 |  | — |  |  |  |  |  |  |  |  |  |
Government bonds | 43,816 |  | — |  | (2,222) |  | 41,594 |  |  | 38,055 |  | 3,539 |  | — |  |  |  |  |  |  |  |  |  |
Corporate bonds | 29,684 |  | 4 |  | (1,349) |  | 28,339 |  |  | — |  | 28,339 |  | — |  |  |  |  |  |  |  |  |  |
Municipal debt securities | 21,483 |  | — |  | (626) |  | 20,857 |  |  | — |  | 20,857 |  | — |  |  |  |  |  |  |  |  |  |
Other investments (1) | 10,902 |  | — |  | — |  | 10,902 |  |  | — |  | — |  | — |  |  |  |  |  |  |  |  |  |
Long-term investments | 106,746 |  | 4 |  | (4,236) |  | 102,514 |  |  | 38,055 |  | 53,557 |  | — |  |  |  |  |  |  |  |  |  |
Total cash, cash equivalents, and investments | $ | 917,841 |  | $ | 13 |  | $ | (6,000) |  | $ | 911,854 |  |  | $ | 700,688 |  | $ | 200,264 |  | $ | — |  |  |  |  |  |  |  |  |  |
Investments held in supplemental retirement plan: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets | $ | 4,225 |  | $ | — |  | $ | — |  | $ | 4,225 |  |  | $ | 4,225 |  | $ | — |  | $ | — |  |  |  |  |  |  |  |  |  |
Included in prepaid expenses and other current assets and other non-current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Liabilities | $ | 4,225 |  | $ | — |  | $ | — |  | $ | 4,225 |  |  | $ | 4,225 |  | $ | — |  | $ | — |  |  |  |  |  |  |  |  |  |
Included in accrued liabilities and other non-current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Currency derivatives as hedge instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Liabilities: Included in other accrued liabilities | $ | — |  | $ | — |  | $ | (4,882) |  | $ | (4,882) |  |  | $ | — |  | $ | (4,882) |  | $ | — |  |  |  |  |  |  |  |  |  |
Liabilities: Included in other non-current liabilities | — |  | — |  | (420) |  | (420) |  |  | — |  | (420) |  | — |  |  |  |  |  |  |  |  |  |
(1)Other investments as of September 30, 2022 is comprised of an equity method investment of $5.9 million and an equity security without a readily determinable fair value, valued at $5.0 million.
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value | The following table presents the gross unrealized losses and fair value for those AFS securities that were in an unrealized loss position for less than twelve months and for greater than twelve months as of June 30, 2023 and September 30, 2022 (in thousands):
| June 30, 2023 |  | September 30, 2022
| Less Than 12 Months | Greater Than 12 Months |  | Less Than 12 Months | Greater Than 12 Months
Investment Type | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses |  | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses
Certificate of deposit | $ | 9,916 |  | $ | (12) |  | $ | — |  | $ | — |  |  | $ | 10,352 |  | $ | (47) |  | $ | — |  | $ | — |
U.S. agency securities | 842 |  | (18) |  | — |  | — |  |  | 13,144 |  | (5) |  | 1,395 |  | (55) |
Government bonds | 33,190 |  | (332) |  | 38,862 |  | (1,443) |  |  | 89,741 |  | (2,593) |  | 8,566 |  | (332) |
Commercial paper | 5,576 |  | (4) |  | — |  | — |  |  | 5,770 |  | (15) |  | — |  | — |
Corporate bonds | 58,578 |  | (602) |  | 9,746 |  | (500) |  |  | 81,044 |  | (1,523) |  | 18,306 |  | (561) |
Municipal debt securities | 20,315 |  | (182) |  | 8,271 |  | (191) |  |  | 40,119 |  | (712) |  | 3,336 |  | (156) |
Total | $ | 128,417 |  | $ | (1,150) |  | $ | 56,879 |  | $ | (2,134) |  |  | $ | 240,170 |  | $ | (4,895) |  | $ | 31,603 |  | $ | (1,104) |
Debt Securities, Available-for-sale | The following table summarizes the amortized cost and estimated fair value of the AFS securities within our investment portfolio based on stated maturities as of June 30, 2023 and September 30, 2022, which are recorded within cash equivalents and both short and long-term investments in our unaudited interim condensed consolidated balance sheets (in thousands):
| June 30, 2023 |  | September 30, 2022
Range of maturity | Amortized Cost | Fair Value |  | Amortized Cost | Fair Value
Due within 1 year | $ | 197,051 |  | $ | 195,862 |  |  | $ | 336,291 |  | $ | 334,537 |
Due in 1 to 2 years | 60,640 |  | 58,964 |  |  | 53,721 |  | 51,332 |
Due in 2 to 5 years | 30,341 |  | 29,962 |  |  | 42,122 |  | 40,280 |
Total | $ | 288,032 |  | $ | 284,788 |  |  | $ | 432,134 |  | $ | 426,149 |

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