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Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2024

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 Consolidated Balance Sheets as of September 30,

		2024
		Level 1				Level 2				Level 3				Total
		(Amounts in thousands)
Assets:
Interest rate swap contract		$	—			$	716			$	—			$	716
Liabilities:
Contingent consideration liabilities		$	—			$	—			$	81,311			$	81,311

		2023
		Level 1				Level 2				Level 3				Total
		(Amounts in thousands)
Assets:
Interest rate swap contract		$	—			$	1,409			$	—			$	1,409
Liabilities:
Contingent consideration liabilities		$	—			$	—			$	86,059			$	86,059

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:		September 30, 2024
Earnout projected growth (including net operating income)		23% - 25%
Discount rate		11.0%

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

The following table sets forth the changes in fair value of our contingent consideration liabilities, which reflect Level 3 inputs, for the fiscal the years ended September 30, 2023 and 2024:

		Contingent Consideration Liabilities
		(Amounts in thousands)
Balance as of September 30, 2022		$	15,207
Additions from business acquisitions			77,380
Settlement of contingent consideration liabilities			(8,900	)
Change in fair value and net present value of contingency			2,372
Balance as of September 30, 2023		$	86,059
Additions from business acquisitions			1,313
Settlement of contingent consideration liabilities			(3,032	)
Change in fair value and net present value of contingency			(3,029	)
Balance as of September 30, 2024		$	81,311

Summary of Carrying Value and Fair Value of Mortgage Facilities and Term Loan

The following table summarizes the carrying value and fair value of our mortgage facilities and term loan as of September 30,

		2023								2024
		Fair Value				Carrying Value				Fair Value				Carrying Value
		(Amounts in thousands)
Mortgage facility payable to Flagship Bank		$	6,027			$	5,907			$	5,501			$	5,411
Mortgage facility payable to Seacoast National Bank			17,223				16,735				15,467				15,378
Mortgage facility payable to Hancock Whitney Bank			24,171				23,279				21,781				21,366
Term loan payable to M&T Bank			379,650				377,500				347,250				347,500

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://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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- References

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X

- 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://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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- Definition

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/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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