FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Summary of Assets Measured at Fair Value

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

	September 30, 2020
(in thousands)	Fair Value		Level 1		Level 2		Level 3
Recurring fair value measurements:
Short-term investments:
Certificates of deposit	$	1,370	$	—	$	1,370	$	—
Corporate and municipal debt securities	$	78,156	$	—	$	78,156	$	—
U.S. government and federal agency securities	$	7,817	$	7,817	$	—	$	—
Other	1,992		1,992		—		—
Total short-term investments	89,335		9,809		79,526		—
Cash and cash equivalents	487,884		487,884		—		—
Investments	11,766		7,274		3,992		500
Other current assets	45,577		45,577		—		—
Other assets	3,286		3,286		—		—
Total assets measured at fair value	$	637,848	$	553,830	$	83,518	$	500
Liabilities:
Contingent earnout liability	$	9,123	$	—	$	—	$	9,123

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 liabilities classified as Level 3 fair value measurements in the fair value hierarchy for fiscal years 2020 and 2019:

(in thousands)	2020			2019
Net liabilities at beginning of period	$	18,373		$	11,160
Additions	1,500			18,373
Total gains or losses:
Included in earnings	(2,500		)	(11,160		)
Settlements (1)	(8,250		)	—
Net liabilities at end of period	$	9,123		$	18,373

(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 related to our financial liabilities at September 30, 2020:

Fair Value	Valuation Technique	Unobservable Input	Unobservable Input		Range	Weighted Average (1)
$1,000	Monte Carlo simulation	Discount rate	1.6	%
		Revenue Volatility	46.2	%
		Risk free rate	1.2	%
$8,123	Probability Analysis	Discount rate	1.0	%
		Payment amounts			$5,250 - $7,000	$	6,400
		Probabilities			40% - 60%	53		%

(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, 2020 and 2019:

	September 30,
(in millions)	2020		2019
Carrying value of long-term fixed-rate debt	$	480.7	$	479.4
Fair value of long-term fixed-rate debt	$	534.5	$	526.4