FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Summary of Assets Measured at Fair Value

The following table summarizes our assets measured at fair value presented in our Consolidated Balance Sheet:

	September 30, 2019
(in thousands)	Fair Value		Level 1		Level 2		Level 3
Recurring fair value measurements:
Short-term investments:
Certificates of deposit	$	6,590	$	—	$	6,590	$	—
Corporate and municipal debt securities	17,984		—		17,984		—
U.S. government and federal agency securities	28,386		28,386		—		—
Total short-term investments	52,960		28,386		24,574		—
Cash and cash equivalents	347,943		347,943		—		—
Investments	16,267		15,974		293		—
Other current assets	31,291		31,291		—		—
Other assets	3,737		3,737		—		—
Total assets measured at fair value	$	452,198	$	427,331	$	24,867	$	—
Liabilities:
Contingent earnout liability	$	18,373	$	—	$	—	$	18,373

Reconciliation of Changes in Fair Value of Financial Assets and Liabilities Classified as Level 3

The following table presents a reconciliation of changes in the fair value of our financial assets and liabilities classified as Level 3 fair value measurements in the fair value hierarchy for the indicated periods:

(in thousands)	2019			2018
Net liabilities at beginning of period	$	11,160		$	14,879
Additions	18,373			—
Total gains or losses:
Included in earnings	(11,160		)	6,906
Settlements (1)	—			(10,625		)
Net liabilities at end of period	$	18,373		$	11,160

(1)

Settlements represent earnout payments that have been earned or paid during the period.

Quantitative Information about Level 3 Unobservable Inputs

The following table provides quantitative information (in thousands) about our Level 3 unobservable inputs at September 30, 2019:

Fair Value	Valuation Technique	Unobservable Input	Unobservable Input		Range	Weighted Average (1)
$6,000	Monte Carlo simulation	Discount rate	2.8	%
		Revenue Volatility	24.4	%
		Risk free rate	1.9	%
$12,373	Probability Analysis	Discount rate	3.0	%
		Payment amounts			$3,000 - $7,000	$	4,800
		Probabilities			40% - 54%	47		%

(1)

The weighted average of the payment amounts and the probabilities (Level 3 unobservable inputs), associated with the contingent consideration valued using probability analysis, were weighted by the relative undiscounted fair value of payment amounts and of probability payment amounts, respectively.

Supplemental Fair Value Information about Long-Term Fixed-Rate Debt

The following information presents the supplemental fair value information about long-term fixed-rate debt at September 30, 2019 and 2018.

	September 30,
(in millions)	2019		2018
Carrying value of long-term fixed-rate debt	$	479.4	$	494.0
Fair value of long-term fixed-rate debt	$	526.4	$	509.3