Fair Value Measurements (Tables)
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6 Months Ended |
Mar. 31, 2017 |
Fair Value Disclosures [Abstract] |
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Financial assets (liabilities) that are measured at fair value on a recurring basis |
The tables below present our financial assets (liabilities) that were carried and measured at fair value on a recurring basis: | | | | | | | | | | | | Financial Assets (Liabilities) | | Balance Sheet Location | | March 31, 2017 | | September 30, 2016 | | | | | | | | | | | | (in thousands) | Guarantee asset — Level 3 | | Prepaid expenses and other current assets | | $ | 562 |
| | $ | 1,209 |
| Guarantee liability — Level 3 | | Accounts payable, accrued expenses and other current liabilities | | (584 | ) | | (1,258 | ) | Cash Convertible Notes Hedges — Level 2 | | Other assets, net | | 15,138 |
| | 37,692 |
| Cash Convertible Notes Embedded Derivative — Level 2 | | Long-term debt, net | | (15,138 | ) | | (37,692 | ) |
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Financial assets, temporary equity, and liabilities not measured at fair value in the consolidated balance sheet |
The tables below present our financial assets and liabilities that were not measured at fair value (including those discussed below the following tables) on a recurring basis: | | | | | | | | | | | | | | | | | | | | | | | | Carrying Value | | Estimated Fair Value | | | March 31, 2017 | | March 31, 2017 | | Fair Value Measurement Using | | | Level 1 | | Level 2 | | Level 3 | | | | | | | | | | | | | | (in thousands) | Financial assets: | | | | | | | | | | | Notes receivable, net | | $ | 70,297 |
| | $ | 71,921 |
| | $ | — |
| | $ | — |
| | $ | 71,921 |
| Investment in unconsolidated affiliate | | 38,334 |
| | 37,101 |
| | 37,101 |
| | — |
| | — |
| | | | | | | | | | | | Financial liabilities: | | | | | | | | | | | Cash Convertible Notes | | $ | 203,464 |
| | $ | 213,417 |
| | $ | — |
| | $ | 213,417 |
| | $ | — |
| Term Loan Facility | | 48,122 |
| | 50,403 |
| | — |
| | — |
| | 50,403 |
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| | | | | | | | | | | | | | | | | | | | | | | | Carrying Value | | Estimated Fair Value | | | September 30, 2016 | | September 30, 2016 | | Fair Value Measurement Using | | | Level 1 | | Level 2 | | Level 3 | | | | | | | | | | | | | | (in thousands) | Financial assets: | | | | | | | | | | | Notes receivable, net | | $ | 83,065 |
| | $ | 83,065 |
| | $ | — |
| | $ | — |
| | $ | 83,065 |
| Investment in unconsolidated affiliate | | 37,128 |
| | 37,128 |
| | 37,128 |
| | — |
| | — |
| | | | | | | | | | | | Financial liabilities: | | | | | | | | | | | Cash Convertible Notes | | $ | 197,954 |
| | $ | 227,332 |
| | $ | — |
| | $ | 227,332 |
| | $ | — |
| Term Loan Facility | | 47,965 |
| | 48,688 |
| | — |
| | — |
| | 48,688 |
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Carrying amount and classification of assets and liabilities |
The following table presents the carrying amount and classification of the assets and liabilities pertaining to our variable interest compared to the maximum exposure to loss for each asset and liability: | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2017 | | September 30, 2016 | Instrument | | Balance Sheet Location | | Asset (Liability) Recorded in Consolidated Balance Sheet | | Maximum Exposure to Loss | | Asset (Liability) Recorded in Consolidated Balance Sheet | | Maximum Exposure to Loss | | | | | | | | | | | | | | | | (in thousands) | Notes receivable | | Notes receivable, net (including discount of $4.8 million and $6.7 million as of March 31, 2017 and September 30, 2016, respectively) | | $ | 70,297 |
| | $ | 70,297 |
| | $ | 83,065 |
| | $ | 83,065 |
| Guarantee asset | | Prepaid expenses and other current assets | | 562 |
| | — |
| | 1,209 |
| | — |
| Guarantee liability* | | Accounts payable, accrued expenses and other current liabilities | | (584 | ) | | — |
| | (1,258 | ) | | — |
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| | * | Maximum exposure to loss under the guarantee liability was $11.8 million and $25.3 million as of March 31, 2017 and September 30, 2016, respectively. However such amount is included within the maximum exposure to loss for the notes receivable above, as the guarantee liability is a guarantee by us of Grupo Finmart’s repayment of our notes receivable owed by Grupo Finmart. |
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