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FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value
The following table summarizes our assets and liabilities measured at fair value presented in our Unaudited Condensed Consolidated Balance Sheet as of December 31, 2020:
(in thousands)Fair ValueLevel 1Level 2Level 3
Recurring fair value measurements:    
Short-term investments:    
Certificates of deposit$12 $— $12 $— 
Corporate and municipal debt securities144,780 — 144,780 — 
U.S. government and federal agency securities5,030 5,030 — — 
Total short-term investments149,822 5,030 144,792 — 
Cash and cash equivalents373,980 373,980 — — 
Investments12,049 10,206 343 1,500 
Other current assets45,688 45,688 — — 
Other assets2,985 2,985 — — 
Total assets measured at fair value$584,524 $437,889 $145,135 $1,500 
Liabilities:
Contingent earnout liability$8,973 $— $— $8,973 
Schedule of Reconciliation of Changes in the 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 the indicated periods:
Three Months Ended
December 31,
(in thousands)20202019
Net liabilities at September 30,$9,123 $18,373 
Additions— 1,500 
Total gains or losses:
Included in earnings100 — 
Settlements (1)
(250)— 
Net liabilities at December 31,$8,973 $19,873 
(1)Settlements represent earnout payments that have been paid or earned during the period.
Schedule of 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 December 31, 2020:
Fair ValueValuation TechniqueUnobservable InputUnobservable InputRange
Weighted Average (1)
$1,000Monte Carlo simulationDiscount rate1.1 %
Revenue Volatility46.7 %
Risk free rate1.4 %
$7,973Probability analysisDiscount rate1.0 %
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.
Schedule of 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 December 31, 2020 and September 30, 2020:
(in millions)December 31, 2020September 30, 2020
Carrying value of long-term fixed-rate debt$481.2 $480.7 
Fair value of long-term fixed-rate debt543.1 534.5