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Fair Value Measurements (Tables)
 9 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of June 30, 2019:

 

(Dollars in thousands)

 

Quoted Prices in

Active Markets

for Identical

Instruments

(Level 1)

 

 

Significant Other Observable Inputs

(Level 2)

 

 

Significant Unobservable Inputs

(Level 3)

 

 

Total Fair

Value as of

June 30, 2019

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

—

 

 

$

24,175

 

 

$

—

 

 

$

24,175

 

Available-for-sale securities

 

 

—

 

 

 

16,070

 

 

 

—

 

 

 

16,070

 

Total assets

 

$

—

 

 

$

40,245

 

 

$

—

 

 

$

40,245

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

—

 

 

$

—

 

 

$

(3,113

)

 

$

(3,113

)

Total liabilities

 

$

—

 

 

$

—

 

 

$

(3,113

)

 

$

(3,113

)

The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2018:

 

(Dollars in thousands)

 

Quoted Prices in

Active Markets

for Identical

Instruments

(Level 1)

 

 

Significant Other Observable Inputs

(Level 2)

 

 

Significant Unobservable Inputs

(Level 3)

 

 

Total Fair

Value as of September 30, 2018

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

—

 

 

$

13,999

 

 

$

—

 

 

$

13,999

 

Available-for-sale securities

 

 

—

 

 

 

41,352

 

 

 

—

 

 

$

41,352

 

Total assets

 

$

—

 

 

$

55,351

 

 

$

—

 

 

$

55,351

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

—

 

 

$

—

 

 

$

(14,466

)

 

$

(14,466

)

Total liabilities

 

$

—

 

 

$

—

 

 

$

(14,466

)

 

$

(14,466

)
Schedule of Contingent Consideration Liabilities Measured at Fair Value

 

The following table summarizes the changes in the contingent consideration liabilities measured at fair value using Level 3 inputs for the three and nine months ended June 30, 2019 and 2018:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

June 30,

 

 

June 30,

 

(Dollars in thousands)

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Beginning balance

 

$

3,009

 

 

$

13,345

 

 

$

14,466

 

 

$

14,864

 

Additions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Fair value adjustments

 

 

57

 

 

 

21

 

 

 

(454

)

 

 

(1,278

)

Settlements

 

 

—

 

 

 

—

 

 

 

(10,979

)

 

 

(925

)

Interest accretion

 

 

47

 

 

 

85

 

 

 

206

 

 

 

272

 

Foreign currency translation loss (gain)

 

 

—

 

 

 

(592

)

 

 

(126

)

 

 

(74

)

Ending balance

 

$

3,113

 

 

$

12,859

 

 

$

3,113

 

 

$

12,859