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Fair Value Measurements (Tables)

6 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities Measured at Fair Value

The following tables summarize the Company’s financial assets and liabilities measured at fair value in the accompanying Unaudited Condensed Consolidated Balance Sheets:

		March 31, 2023
		Level 1				Level 2				Level 3				Total
		(Amounts in thousands)
Assets:
Interest rate swap contract		$	—			$	1,206			$	—			$	1,206
Liabilities:
Contingent consideration liabilities		$	—			$	—			$	87,817			$	87,817

		September 30, 2022
		Level 1				Level 2				Level 3				Total
		(Amounts in thousands)
Assets:
Interest rate swap contract		$	—			$	1,528			$	—			$	1,528
Liabilities:
Contingent consideration liabilities		$	—			$	—			$	15,207			$	15,207

Summary of Ranges for Significant Quantitative Unobservable inputs Utilized in Fair Value Measurements

The following table summarizes ranges for significant quantitative unobservable inputs we utilized in our fair value measurements with respect to contingent consideration liabilities:

Unobservable Input:		March 31, 2023
Net operating income projected growth rates		23% - 25%
Discount rate		11.0%

Summary of Changes in Fair Value of Contingent Consideration Liabilities Which Reflect Level 3 Inputs

The following tables set forth the changes in fair value of our contingent consideration liabilities, which reflect Level 3 inputs, for the six months ended March 31, 2022 and 2023:

		Contingent Consideration Liabilities
		2022				2023
		(Amounts in thousands)
Beginning balance - September 30,		$	12,364			$	15,207
Additions from business acquisitions			6,030				77,380
Settlement of contingent consideration liabilities			(3,000	)			(7,000	)
Change in fair value and net present value of contingency			235				2,230
Ending balance - March 31,		$	15,629			$	87,817

Summary of Carrying Value and Fair Value of Mortgage Facilities

he following table summarizes the carrying value and fair value of our mortgage facilities as of September 30, 2022 and March 31, 2023:

		September 30, 2022								March 31, 2023
		Fair Value				Carrying Value				Fair Value				Carrying Value
		(Amounts in thousands)
Mortgage facility payable to Flagship Bank		$	6,355			$	6,403			$	5,431			$	6,155
Mortgage facility payable to Seacoast National Bank			16,681				17,098				13,311				17,060
Mortgage facility payable to Hancock Whitney Bank			24,977				25,192				21,276				24,236

X

- Definition

Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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-Publisher FASB
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-Section 50
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-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

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Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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-Name Accounting Standards Codification
-Topic 820
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-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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