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Defined Benefit Pension Plan (Tables) | 12 Months Ended
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Sep. 30, 2021
Retirement Benefits [Abstract] |
Schedule of net periodic benefit cost recognized | The net periodic benefit cost is recognized within Interest and other income, net in the Consolidated Statements of Operations, and for the years ended September 30, 2021, 2020 and 2019, included the following components:
|  | Year Ended September 30,
|  | 2021 |  | 2020 |  | 2019
|  | (in thousands)
Interest cost |  | $ | 438 |  |  | $ | 431 |  |  | $ | 618 |
Expected return on plan assets |  | (793) |  |  | (797) |  |  | (965) |
Amortization of prior service cost |  | 21 |  |  | 19 |  |  | — |
Total net periodic benefit |  | $ | (334) |  |  | $ | (347) |  |  | $ | (347) |
Schedule of reconciliation of benefit obligations, plan assets, and funded status related to qualified defined benefit pension plan | The following table provides a reconciliation of benefit obligations, plan assets, and funded status related to the Company's qualified defined benefit pension plan for the years ended September 30, 2021 and 2020:
|  | Year Ended September 30,
|  | 2021 |  | 2020
|  | (in thousands)
Change in benefit obligation |  |  |  |
Beginning balance |  | $ | 26,047 |  |  | $ | 23,240 |
Interest cost |  | 438 |  |  | 431 |
Benefits paid |  | (781) |  |  | (597) |
Actuarial loss/(gain) |  | 152 |  |  | 1,803 |
Foreign currency exchange rate changes |  | 1,099 |  |  | 1,170 |
Ending balance |  | $ | 26,955 |  |  | $ | 26,047 |
|  | Year Ended September 30,
|  | 2021 |  | 2020
|  | (in thousands)
Change in plan assets |  |  |  |
Beginning balance at fair value |  | $ | 26,771 |  |  | $ | 25,779 |
Actual return on plan assets |  | 1,077 |  |  | 297 |
Benefits paid |  | (781) |  |  | (597) |
Foreign currency exchange rate changes |  | 1,141 |  |  | 1,292 |
Ending balance at fair value |  | $ | 28,208 |  |  | $ | 26,771 |
Overfunded status of the Scheme |  | $ | 1,253 |  |  | $ | 724 |
Schedule of amount recognized in other comprehensive loss related to qualified defined benefit pension plan, net of tax | The amounts recognized in other comprehensive (income) loss related to the Company's qualified defined benefit pension plan, net of taxes, and the related foreign currency translation adjustments, for the years ended September 30, 2021 and 2020, is shown in the following table:
|  | Year Ended September 30,
|  | 2021 |  | 2020
|  | (in thousands)
Accumulated other comprehensive (loss) income at beginning of year |  | $ | (1,971) |  |  | $ | 303 |
Net actuarial gain (loss) |  | 170 |  |  | (2,293) |
Foreign currency translation adjustments |  | (84) |  |  | 19 |
Accumulated other comprehensive loss at end of year |  | $ | (1,885) |  |  | $ | (1,971) |
Schedule of actuarial assumptions used to determine (benefit) obligations and net periodic benefit cost | The actuarial assumptions used to determine the benefit obligations at September 30, 2021 and 2020, and to determine the net periodic (benefit) cost for the year were as follows:
|  | September 30, 2021 |  | September 30, 2020
Discount rate to determine net periodic (benefit) cost |  | 1.60 | % |  | 1.80 | %
Expected return on plan assets |  | 2.82 | % |  | 3.00 | %
Discount rate to determine benefit obligations |  | 2.00 | % |  | 1.60 | %
Rate of increases to deferred CPI linked benefits |  | 3.10 | % |  | 2.50 | %
Rate of increases to deferred RPI linked benefits |  | 3.60 | % |  | 3.00 | %
Schedule of expected benefit payments to participants | The Company's pension plan expects to make the following benefit payments to participants over the next 10 years:
|  | Pension Benefits
|  | (in thousands)
Year ending September 30, |  |
2022 |  | $ | 904 |
2023 |  | 789 |
2024 |  | 1,213 |
2025 |  | 1,052 |
2027 |  | 1,010 |
2027 through 2030 |  | 4,390 |
Total |  | $ | 9,358 |
Schedule of allocation of plan assets | The assets consisted of the following as of September 30, 2021 and 2020:
|  | 2021 |  | 2020
Equity securities |  | 21.0 | % |  | 20.6 | %
Corporate bonds |  | 53.0 | % |  | 53.0 | %
Diversified fund |  | 26.0 | % |  | 26.0 | %
Cash |  | — | % |  | 0.4 | %
Total |  | 100.0 | % |  | 100.0 | %
Schedule of fair value of assets of qualified defined benefit pension plan by asset category and level within fair value hierarchy | The following table presents the fair value of the assets of the Company's qualified defined benefit pension plan by asset category and their level within the fair value hierarchy.
Balance as of September 30, 2021 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in thousands)
Equity securities |  | $ | — |  |  | $ | 5,860 |  |  | $ | — |  |  | $ | 5,860 |
Corporate bonds |  | — |  |  | 14,878 |  |  | — |  |  | 14,878 |
Diversified fund |  | — |  |  | 7,279 |  |  | — |  |  | 7,279 |
Cash |  | 191 |  |  | — |  |  | — |  |  | 191 |
Total |  | $ | 191 |  |  | $ | 28,017 |  |  | $ | — |  |  | $ | 28,208 |
Balance as of September 30, 2020 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in thousands)
Equity securities |  | $ | — |  |  | $ | 5,526 |  |  | $ | — |  |  | $ | 5,526 |
Corporate bonds |  | — |  |  | 14,194 |  |  | — |  |  | 14,194 |
Diversified fund |  | — |  |  | 6,957 |  |  | — |  |  | 6,957 |
Cash |  | 94 |  |  | — |  |  | — |  |  | 94 |
Total |  | $ | 94 |  |  | $ | 26,677 |  |  | $ | — |  |  | $ | 26,771 |

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- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2439-114920 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2410-114920 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2417-114920 + Details
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