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Investment in Unconsolidated Affiliate

9 Months Ended

Jun. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Affiliate

Investment in Unconsolidated Affiliate

In 2012, we invested $4.0 million to acquire an equity interest of approximately 28% in a joint venture (“JV”) related to the lease of the Lisle Campus. As discussed in Note 7, in February 2022, this JV was dissolved and we acquired the building, land and debt associated with this campus through the acquisition of the 2611 entity.

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

						June 30, 2022												September 30, 2021
						Carrying Value						Ownership Percentage						Carrying Value						Ownership Percentage
Investment in JV						$	—					—		%				$	4,627					28.0		%

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

						Nine Months Ended June 30,
						2022						2021
Balance at beginning of period						$	4,627					$	4,494
Equity in earnings of unconsolidated affiliate						113						326
Return of capital contribution from unconsolidated affiliate						(188)						(226)
Dissolution of unconsolidated affiliate						(4,552)						—
Balance at end of period						$	—					$	4,594

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- References

No definition available.

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- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-URI https://asc.fasb.org/topic&trid=2196965

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