In accordance with the fair value hierarchy, described above, the following tables show the fair value of the Company’s financial instruments that are required to be measured at fair value as of September 30, 2022 and September 30, 2021.


	Fair Value Measurements as of September 30, 2022
	(Level 1)		(Level 2)		(Level 3)		Total
	(in millions)
Other Current Assets:
Interest Rate Swap (d)	$	—	$	2	$	—	$	2
Other Noncurrent Assets:
Interest Rate Swaps (d)	—		16		—		16
Equity Investment with Readily Determinable Fair Value (c)	36		—		—		36
Other Noncurrent Liabilities:
Contractual Obligations (a)	—		—		(1)		(1)
Total	$	36	$	18	$	(1)	$	53


	Fair Value Measurements as of September 30, 2021
	(Level 1)		(Level 2)		(Level 3)		Total
	(in millions)
Other Current Liabilities:
Contractual Obligations (a)	$	—	$	—	$	(4)	$	(4)
Other Noncurrent Assets:
Equity Method Investment (b)	26		—		—		26
Equity Investment with Readily Determinable Fair Value (c)	37		—		—		37
Other Noncurrent Liabilities:
Contractual Obligations (a)	—		—		(15)		(15)
Interest Rate Swaps (d)	—		(22)		—		(22)
Total	$	63	$	(22)	$	(19)	$	22

(a)This represents contingent consideration related to acquisitions. This is based on a probability weighted performance approach and it is adjusted to fair value on a recurring basis and any adjustments are typically included as a component of operating income in the consolidated statements of operations. This amount was mainly calculated using unobservable inputs such as future earnings performance of the acquiree and the expected timing of payments.

(b)This represents an equity method investment which was acquired in fiscal 2019 whereby the Company elected the fair value option under ASC 825, Financial Instruments (“ASC 825”). During the fiscal year ended September 30, 2022, this investment was sold.

(c)These represent equity investments with a readily determinable fair value. The Company has measured its investments to fair value in accordance with ASC 321, Investments—Equity Securities, based on quoted prices in active markets.

(d)The fair value of the interest rate swaps is based on dealer quotes of market forward rates and reflects the amount that the Company would receive or pay as of September 30, 2022 for contracts involving the same attributes and maturity dates.