v3.25.1
Investments, Equity Method and Joint Ventures
6 Months Ended
Mar. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments and Joint Ventures Disclosure
Equity Method Investments

On December 2, 2024, we paid $44,900 to acquire a 12.5% membership interest in Jett Texas Company LLC (“Jett”), an investment company, as part of the financing of Jett's investment in the CB&I storage solutions business, a designer and builder of storage facilities, tanks and terminals for energy and industrial markets, formerly owned by McDermott International, Ltd. Our investment, which was included in “Investments” on our Condensed Consolidated Balance Sheets, is measured using the equity method of accounting, wherein the carrying value of our investment is initially recorded at cost basis and subsequently adjusted for our proportionate share of earnings or losses, additional investments, and distributions. We recorded no earnings or loss on our investment
in Jett in the three and six months ended March 31, 2025 and the carrying value of our investment in Jett was $44,900 at March 31, 2025.
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]
Investments in Marketable Securities

Investments in marketable equity and debt securities classified as trading securities, which were included in “Marketable securities” in our Condensed Consolidated Balance Sheets, are measured at fair value on a recurring basis and classified within Level 1 of the fair value hierarchy, because we use quoted prices of identical assets in active markets. For more information, refer to Note 9, “Fair Value Measurements.” The balance of our marketable securities was as follows:
March 31, 2025September 30, 2024
Marketable equity securities$62,339 $31,639 
Marketable debt securities3,509 3,364 
Marketable securities$65,848 $35,003 
Gains and losses to measure our investments in marketable equity and debt securities at fair value were included in “Other income, net” on our Condensed Consolidated Statements of Comprehensive Income. Our unrealized net gains (losses), which are calculated as total net gains (losses) recognized during the period less net gains (losses) recognized on securities sold during the period, were as follows:
Three Months Ended March 31,Six Months Ended March 31,
2025202420252024
Unrealized gain (loss) on marketable equity securities$5,547 $(1,852)$7,862 $(1,852)
Unrealized gain (loss) on marketable debt securities(66)(57)(33)62 
Total unrealized gain (loss) on trading securities$5,481 $(1,909)$7,829 $(1,790)
All of our debt securities classified as trading securities at March 31, 2025 mature after one year and before five years.