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Marketable Securities
 9 Months Ended
Jun. 30, 2016
Marketable Securities [Abstract]  
MARKETABLE SECURITIES
MARKETABLE SECURITIES
Our marketable securities consist of certificates of deposit, commercial paper, corporate bonds and government municipal bonds. We analyze our available-for-sale marketable securities for impairment on an ongoing basis. When we perform this analysis, we consider factors such as the length of time and extent to which the securities have been in an unrealized loss position and the trend of any unrealized losses. We also consider whether an unrealized loss is a temporary loss or an other-than-temporary loss based on factors such as: (a) whether we have the intent to sell the security, (b) whether it is more likely than not that we will be required to sell the security before its anticipated recovery, or (c) permanent impairment due to bankruptcy or insolvency.
In order to estimate the fair value for each security in our investment portfolio, we obtain quoted market prices and trading activity for each security where available. We obtain relevant information from our investment advisor and, if warranted, also may review the financial solvency of certain security issuers. As of June 30, 2016, 22 of our 61 securities that we held were trading below our amortized cost basis. We determined each decline in value to be temporary based upon the above described factors. We expect to realize the fair value of these securities, plus accrued interest, either at the time of maturity or when the security is sold. All of our current holdings are classified as available-for-sale marketable securities and are recorded at fair value on our consolidated balance sheet with the unrealized gains and losses recorded in accumulated other comprehensive income (loss). All of our current marketable securities will mature in less than one year and our non-current marketable securities will mature in less than three years. Our balance sheet classification of available for sale securities is based on our best estimate of when we expect to liquidate such investments and, presently, is consistent with the stated maturity dates of such investments. However, we are not committed to holding these investments until their maturity and may determine to liquidate some or all of these investments earlier based on our liquidity and other needs. During the nine months ended June 30, 2016 and 2015, we received proceeds from our available-for-sale marketable securities of $46.7 million and $28.5 million, respectively.
At June 30, 2016 our marketable securities were (in thousands):
 
Amortized
Cost (1)
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Value (1)
Current marketable securities:
 
 
 
 
 
 
 
Corporate bonds
$
34,116

 
$
—

 
$
(43
)
 
$
34,073

Commercial paper
23,966

 
—

 
(12
)
 
23,954

Certificates of deposit
2,005

 
1

 
—

 
2,006

Government municipal bonds
3,106

 
—

 
(2
)
 
3,104

Current marketable securities
63,193

 
1

 
(57
)
 
63,137

Non-current marketable securities:
 
 
 
 
 
 
 
Certificates of deposit
7,275

 
46

 
—

 
7,321

Total marketable securities
$
70,468

 
$
47

 
$
(57
)
 
$
70,458

(1)
Included in amortized cost and fair value is purchased and accrued interest of $282.
6. MARKETABLE SECURITIES (CONTINUED)
At September 30, 2015 our marketable securities were (in thousands):
 
Amortized
Cost (1)
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Value (1)
Current marketable securities:
 
 
 
 
 
 
 
Corporate bonds
$
31,753

 
$
—

 
$
(39
)
 
$
31,714

Commercial paper
7,986

 
—

 
(1
)
 
7,985

Certificates of deposit
6,253

 
8

 
—

 
6,261

Government municipal bonds
1,232

 
—

 
(1
)
 
1,231

Current marketable securities
47,224

 
8

 
(41
)
 
47,191

Non-current marketable securities:
 
 
 
 
 
 
 
Corporate bonds
4,138

 
—

 
(12
)
 
4,126

Certificates of deposit
7,511

 
2

 
(6
)
 
7,507

Government municipal bonds
1,996

 
—

 
(3
)
 
1,993

Non-current marketable securities
13,645

 
2

 
(21
)
 
13,626

Total marketable securities
$
60,869

 
$
10

 
$
(62
)
 
$
60,817

(1)
Included in amortized cost and fair value is purchased and accrued interest of $252.
The following tables show the fair values and gross unrealized losses of our available-for-sale marketable securities that have been in a continuous unrealized loss position deemed to be temporary, aggregated by investment category (in thousands):
 
June 30, 2016
 
Less than 12 Months
 
More than 12 Months
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
Corporate bonds
$
32,214

 
$
(43
)
 
$
—

 
$
—

Commercial paper
23,954

 
(12
)
 
—

 
—

Government municipal bonds
1,876

 
(2
)
 
—

 
—

Total
$
58,044

 
$
(57
)
 
$
—

 
$
—

 
September 30, 2015
 
Less than 12 Months
 
More than 12 Months
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
Corporate bonds
$
33,664

 
$
(52
)
 
$
—

 
$
—

Commercial paper
5,987

 
(1
)
 
—

 
—

Certificates of deposit
4,244

 
(6
)
 
499

 
(1
)
Government municipal bonds
3,159

 
(3
)
 
—

 
—

Total
$
47,054

 
$
(62
)
 
$
499

 
$
(1
)