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Investments
 3 Months Ended
Dec. 31, 2021
Held To Maturity Securities Classified [Abstract]  
Investments

NOTE 4. INVESTMENTS

Investments at December 31, 2021 primarily consisted of corporate bonds that have maturities of less than 36 months, a certificate of deposit and marketable equity securities. The Company’s corporate bonds consist of both short-term and long-term bonds and are classified as “held-to-maturity” on the Company’s Consolidated Balance Sheets. The Company’s certificate of deposit matures in less than 12 months and is classified as “held-to-maturity” on the Company’s Consolidated Balance Sheet.  The Company’s marketable equity securities consist of mutual funds that primarily invest in U.S. government bonds, U.S. government agency bonds, corporate bonds and other asset-backed debt securities. Dividends from these funds are automatically re-invested.  The Company may also invest excess cash balances in money market accounts, government-sponsored enterprise securities, and/or commercial paper.  The Company accounts for its held to maturity investments in accordance with FASB ASC 320, Investments – Debt and Equity Securities and its marketable equity securities in accordance with ASC 321, Investments – Equity Securities.  

The following tables summarize the Company’s short-term and long-term investments and marketable securities as of December 31, 2021 and September 30, 2021 by measurement category:

 

Held to Maturity

 

As of December 31, 2021

 

 

 

 

 

(In thousands)

 

 

 

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Fair Value

 

 

 

Commercial notes (due within one year)

 

$

62,537

 

 

$

687

 

 

$

-

 

 

$

63,224

 

 

 

Commercial notes (due within one through three years)

 

$

217,572

 

 

$

381

 

 

$

(1,374

)

 

$

216,579

 

 

 

Certificate of deposit (due within one year)

 

$

50,000

 

 

$

-

 

 

$

-

 

 

$

50,000

 

 

 

Total

 

$

330,109

 

 

$

1,068

 

 

$

(1,374

)

 

$

329,803

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of September 30, 2021

 

 

 

 

 

(In thousands)

 

 

 

 

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Fair Value

 

 

 

Commercial notes (due within one year)

 

$

56,627

 

 

$

803

 

 

$

-

 

 

$

57,430

 

 

 

Commercial notes (due within one through three years)

 

$

195,595

 

 

$

1,151

 

 

$

(103

)

 

$

196,643

 

 

 

Certificate of deposit (due within two years)

 

$

50,000

 

 

$

-

 

 

$

-

 

 

$

50,000

 

 

 

Total

 

$

302,222

 

 

$

1,954

 

 

$

(103

)

 

$

304,073

 

 

 

 

 

Fair Value

 

As of December 31, 2021

 

 

 

(In thousands)

 

 

 

Cost

 

 

Realized

Gains/(Losses)

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Fair Value

 

Marketable securities

 

$

125,000

 

 

$

3,134

 

 

$

-

 

 

$

(2,124

)

 

$

126,010

 

Total

 

$

125,000

 

 

$

3,134

 

 

$

-

 

 

$

(2,124

)

 

$

126,010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of September 30, 2021

 

 

 

(In thousands)

 

 

 

Cost

 

 

Realized

Gains/(Losses)

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Fair Value

 

Marketable securities

 

$

125,000

 

 

$

2,481

 

 

$

135

 

 

$

(888

)

 

$

126,728

 

Total

 

$

125,000

 

 

$

2,481

 

 

$

135

 

 

$

(888

)

 

$

126,728

 

 

Realized gains for marketable securities recorded at fair value consist of dividends received and re-invested into the associated fund.