v3.25.1
Fair Value Measurements
 6 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block] . FAIR VALUE MEASUREMENTS
Fair Value Measurement Accounting
 
Fair value is considered the price to sell an asset, or transfer a liability, between market participants on the measurement date. Fair value measurements assume that (1) the asset or liability is exchanged in an orderly manner, (2) the exchange is in the principal market for that asset or liability, and (3) the market participants are independent, knowledgeable, and able and willing to transact an exchange. Fair value accounting and reporting establishes a framework for measuring fair value by creating a hierarchy for observable independent market inputs and unobservable market assumptions and expands disclosures about fair value measurements. Judgment is required to interpret the market data used to develop fair value estimates. As such, the estimates presented herein are not necessarily indicative of the amounts that could be realized in a current exchange. The use of different market assumptions and/or estimation methods could have a material effect on the estimated fair value.

At March 31, 2025 and September 30, 2024, financial assets and liabilities measured at fair value on a recurring basis were limited to investments in marketable equity and debt securities classified as trading securities, our executive savings plan, under which certain employees are permitted to defer a portion of their base salary and/or bonus for a Plan Year (as defined in the plan), and contingent consideration liabilities related to certain of our acquisitions.

Financial assets (liabilities) measured at fair value on a recurring basis as of March 31, 2025 and September 30, 2024, are summarized in the following tables by the type of inputs applicable to the fair value measurements:
March 31, 2025
Total Fair ValueQuoted Prices (Level 1)Significant Unobservable Inputs (Level 3)
Marketable equity securities$62,339 $62,339 $— 
Marketable debt securities3,509 3,509 — 
Executive savings plan assets932 932 — 
Executive savings plan liabilities(803)(803)— 
Contingent consideration liability(4,146)— (4,146)
Total$61,831 $65,977 $(4,146)
September 30, 2024
Total Fair ValueQuoted Prices (Level 1)Significant Unobservable Inputs (Level 3)
Marketable equity securities$31,639 $31,639 $— 
Marketable debt securities3,364 3,364 — 
Executive savings plan assets986 986 — 
Executive savings plan liabilities(852)(852)— 
Contingent consideration liability(3,468)— (3,468)
Total$31,669 $35,137 $(3,468)
On April 1, 2024, we entered into a contingent consideration arrangement under which we are obligated to pay up to $5,000 upon achievement of certain future earnings targets in connection with the acquisition of Greiner Industries, Inc. (“Greiner”) valued at $2,790 on the acquisition date. The fair value of this liability, which was included in “Other non-current liabilities” in our Condensed Consolidated Balance Sheets, is measured on a recurring basis classified within Level 3 of the fair value hierarchy. Net adjustments to its fair value were included in “Contingent consideration” in our Condensed Consolidated Statements of Comprehensive Income.
The table below presents the change in fair value of liabilities measured using significant unobservable inputs (Level 3).
Contingent consideration liability
Fair value at September 30, 2024
$(3,468)
Net adjustments to fair value included in “Contingent consideration”
(678)
Fair value at March 31, 2025
$(4,146)
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.