XML 36 R28.htm IDEA: XBRL DOCUMENT
v3.24.4

Fair Value Measurements (Tables) | 3 Months Ended
--- | ---
Dec. 31, 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 Unaudited Condensed Consolidated Balance Sheets:
|  | December 31, 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (Amounts in thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contract |  | $ | — |  |  | $ | 824 |  |  | $ | — |  |  | $ | 824 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration liabilities |  | $ | — |  |  | $ | — |  |  | $ | 55,494 |  |  | $ | 55,494 |
|  | 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 |
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: |  | December 31, 2024
Discount rate |  | 11% - 17%
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 three months ended December 31, 2024 and 2023:
|  | Contingent Consideration Liabilities |
|  | 2024 |  |  | 2023 |
|  | (Amounts in thousands) |
Beginning balance - September 30, |  | $ | 81,311 |  |  | $ | 86,059 |
Additions from business acquisitions |  |  | — |  |  |  | 613 |
Settlement of contingent consideration liabilities |  |  | — |  |  |  | (2,250 | )
Change in fair value and net present value of contingency |  |  | (25,817 | ) |  |  | 219 |
Ending balance - December 31, |  | $ | 55,494 |  |  | $ | 84,641 |
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 December 31, 2024 and September 30, 2024:
|  | December 31, 2024 |  |  | September 30, 2024 |
|  | Fair Value |  |  | Carrying Value |  |  | Fair Value |  |  | Carrying Value |
|  | (Amounts in thousands) |
Mortgage facility payable to Flagship Bank |  | $ | 5,445 |  |  | $ | 5,287 |  |  | $ | 5,501 |  |  | $ | 5,411 |
Mortgage facility payable to Seacoast National Bank |  |  | 15,774 |  |  |  | 15,039 |  |  |  | 15,467 |  |  |  | 15,378 |
Mortgage facility payable to Hancock Whitney Bank |  |  | 21,885 |  |  |  | 20,887 |  |  |  | 21,781 |  |  |  | 21,366 |
Term loan payable to M&T Bank |  |  | 342,338 |  |  |  | 340,000 |  |  |  | 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 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration