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Fair Value Measures and Disclosures (Tables)
6 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring and Nonrecurring Basis The following table summarizes the Company’s assets measured at fair value on a nonrecurring basis at March 31, 2022 and September 30, 2021:
Fair Value at
March 31,
2022
September 30,
2021
Level 3
(in millions)
Real Estate (a)
$5.0 $— 
 _____________________
(a)    The fair value included in the table above represents only the asset whose carrying value was adjusted to fair value as of March 31, 2022. The fair value was determined using estimated future cash flows of the project discounted at a rate of 16%.
Fair Value Measurements, Not Measured at Fair Value
For the financial assets and liabilities that the Company does not reflect at fair value, the following tables present both their respective carrying value and fair value at March 31, 2022 and September 30, 2021.
Fair Value at March 31, 2022
 Carrying ValueLevel 1Level 2Level 3Total
 (in millions)
Cash and cash equivalents (a)
$233.7 $233.7 $— $— $233.7 
Debt (b) (c)
705.3 — 655.1 12.5 667.6 
Fair Value at September 30, 2021
Carrying ValueLevel 1Level 2 Level 3Total
(in millions)
Cash and cash equivalents (a)
$153.6 $153.6 $— $— $153.6 
Debt (b) (c)
704.5 — 711.2 12.5 723.7 
 _____________________
(a)    The fair values of cash and cash equivalents approximate their carrying values due to their short-term nature and are classified as Level 1 within the fair value hierarchy.
(b)    At March 31, 2022 and September 30, 2021, debt primarily consisted of the Company's senior notes. The fair value of the senior notes is determined based on quoted market prices, which is classified as Level 2 within the fair value hierarchy.

(c)    The fair value of the Company's other note payable approximates its carrying value due to its short-term nature and is classified as Level 3 within the fair value hierarchy.