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Investment in Unconsolidated Affiliate

3 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated AffiliateIn 2012, we invested $4.0 million to acquire an equity interest of approximately 28% in a joint venture (“JV”) related to the lease of our Lisle, Illinois campus facility. In connection with this investment, we do not possess a controlling financial interest as we do not hold a majority of the equity interest, nor do we have the power to make major decisions without approval from the other equity member. Therefore, we do not qualify as the primary beneficiary. Accordingly, this investment is accounted for under the equity method of accounting. We recognize our proportionate share of the JV's net income or loss during each accounting period and any return of capital as a change in our investment.

Investment in unconsolidated affiliate consisted of the following and is included within “Other assets” on our condensed consolidated balance sheets:


	December 31, 2020				September 30, 2020
	Carrying Value		Ownership Percentage		Carrying Value		Ownership Percentage
Investment in JV	$	4,528	28.0	%	$	4,494	28.0	%

Investment in unconsolidated affiliate included the following activity during the period:


	Three Months Ended December 31,
	2020		2019
Balance at beginning of period	$	4,494	$	4,338
Equity in earnings of unconsolidated affiliate	107		102
Return of capital contribution from unconsolidated affiliate	(73)		(69)
Balance at end of period	$	4,528	$	4,371