FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Dec. 31, 2018

FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS

Summary 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, 2018:

	Fair Value		(Level 1)		(Level 2)		(Level 3)
	(in thousands)
Recurring fair value measurements:
Short-term investments:
Certificates of deposit	$	6,508	$	—	$	6,508	$	—
Corporate and municipal debt securities		6,862		—		6,862		—
U.S. government and federal agency securities		27,702		22,703		4,999		—
Total short-term investments		41,072		22,703		18,369		—
Cash and cash equivalents		228,462		228,462		—		—
Investments		39,775		39,652		123		—
Other current assets		30,246		30,246		—		—
Other assets		3,882		3,882		—		—
Total assets measured at fair value	$	343,437	$	324,945	$	18,492	$	—
Liabilities:
Contingent earnout liability	$	12,147	$	—	$	—	$	12,147

Schedule of reconciliation of changes in the fair value of our 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:

	Three Months Ended
	December 31,
	2018		2017
	(in thousands)
Net liabilities at beginning of period	$	11,160	$	14,879
Additions		673		—
Total gains or losses:
Included in earnings		314		3,977
Settlements (1)		—		(1,500)
Net liabilities at end of period	$	12,147	$	17,356

(1) Settlements represent earnout payments that have been paid during the period. 

Summary 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, 2018 and September 30, 2018:

	December 31,		September 30,
	2018		2018
	(in millions)
Carrying value of long-term fixed-rate debt	$	490.8	$	494.0
Fair value of long-term fixed-rate debt	$	509.9	$	509.3

Summary of equity securities

The following is a summary of our securities, which excludes assets held in a Non-Qualified Supplemental Savings Plan:

			Gross		Gross		Estimated
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(in thousands)
Equity Securities:
December 31, 2018	$	38,473	$	13,154	$	(11,975)	$	39,652
September 30, 2018	$	38,473	$	44,023	$	—	$	82,496