Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Sep. 30, 2022 | Nov. 14, 2022 | Mar. 31, 2022 | |
Cover [Abstract] | |||
Entity Central Index Key | 0000933974 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Sep. 30, 2022 | ||
Document Transition Report | false | ||
Entity File Number | 0-25434 | ||
Entity Registrant Name | Azenta, Inc. | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 04-3040660 | ||
Entity Address, Address Line One | 15 Elizabeth Drive | ||
Entity Address, City or Town | Chelmsford | ||
Entity Address, State or Province | MA | ||
Entity Address, Postal Zip Code | 01824 | ||
City Area Code | 978 | ||
Local Phone Number | 262-2400 | ||
Title of 12(b) Security | Common Stock, $0.01 par value | ||
Entity Listing, Par Value Per Share | $ 0.01 | ||
Trading Symbol | AZTA | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 6,114,187,970 | ||
Entity Common Stock, Shares Outstanding | 75,020,256 | ||
Current Fiscal Year End Date | --09-30 | ||
Document Fiscal Year Focus | 2022 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Auditor Name | PricewaterhouseCoopers LLP | ||
Auditor Firm ID | 238 | ||
Auditor Location | Boston, Massachusetts |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Current assets | ||
Cash and cash equivalents | $ 658,274 | $ 227,427 |
Short-term marketable securities | 911,764 | 81 |
Accounts receivable, net of allowance for expected credit losses ($5,161 and $4,318, respectively) | 163,758 | 119,877 |
Inventories | 85,544 | 60,398 |
Derivative asset | 124,789 | |
Short-term restricted cash | 382,596 | 7,145 |
Prepaid expenses and other current assets | 132,621 | 51,053 |
Current assets held for sale | 311,385 | |
Total current assets | 2,459,346 | 777,366 |
Property, plant and equipment, net | 154,470 | 130,719 |
Long-term marketable securities | 352,020 | 3,598 |
Long-term deferred tax assets | 1,169 | 10,043 |
Goodwill | 513,623 | 469,356 |
Intangible assets, net | 178,401 | 186,534 |
Other assets | 57,093 | 58,068 |
Non-current assets held for sale | 183,828 | |
Total assets | 3,716,122 | 1,819,512 |
Current liabilities | ||
Accounts payable | 38,654 | 42,360 |
Deferred revenue | 39,748 | 25,724 |
Accrued warranty and retrofit costs | 2,890 | 2,330 |
Accrued compensation and benefits | 41,898 | 33,183 |
Accrued income taxes payable | 28,419 | 8,711 |
Accrued expenses and other current liabilities | 78,937 | 103,841 |
Current liabilities held for sale | 128,939 | |
Total current liabilities | 230,546 | 345,088 |
Long-term debt | 49,677 | |
Long-term tax reserves | 1,684 | 1,973 |
Long-term deferred tax liabilities | 64,555 | 13,030 |
Long-term pension liabilities | 261 | 705 |
Long-term operating lease liabilities | 49,227 | 45,088 |
Other long-term liabilities | 6,463 | 6,173 |
Non-current liabilities held for sale | 32,444 | |
Total liabilities | 352,736 | 494,178 |
Stockholders' equity | ||
Preferred stock, $0.01 par value - 1,000,000 shares authorized, no shares issued or outstanding | ||
Common stock, $0.01 par value - 125,000,000 shares authorized, 88,482,125 shares issued and 75,020,256 shares outstanding at September 30, 2022, 87,808,922 shares issued and 74,347,053 shares outstanding at September 30, 2021 | 885 | 878 |
Additional paid-in capital | 1,992,017 | 1,976,112 |
Accumulated other comprehensive income | (83,916) | 19,351 |
Treasury stock, at cost - 13,461,869 shares at September 30, 2022 and September 30, 2021 | (200,956) | (200,956) |
Retained earnings (accumulated deficit) | 1,655,356 | (470,051) |
Total stockholders' equity | 3,363,386 | 1,325,334 |
Total liabilities and stockholders' equity | $ 3,716,122 | $ 1,819,512 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract] | ||
Allowance for expected credit losses | $ 5,162 | $ 4,318 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 125,000,000 | 125,000,000 |
Common stock, shares issued (in shares) | 88,482,125 | 87,808,922 |
Common stock, shares outstanding (in shares) | 75,020,256 | 74,347,053 |
Treasury Stock, Shares [Abstract] | ||
Treasury stock, shares (in shares) | 13,461,869 | 13,461,869 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenue | |||
Total revenue | $ 555,498 | $ 513,703 | $ 388,537 |
Cost of revenue | |||
Total cost of revenue | 299,914 | 269,894 | 216,389 |
Gross profit | 255,584 | 243,809 | 172,148 |
Operating expenses | |||
Research and development | 27,542 | 22,412 | 17,818 |
Selling, general and administrative | 252,065 | 252,101 | 190,256 |
Restructuring charges | 712 | 385 | 674 |
Total operating expenses | 280,319 | 274,898 | 208,748 |
Operating loss | (24,735) | (31,089) | (36,600) |
Interest income | 20,286 | 632 | 849 |
Interest expense | (4,589) | (2,037) | (2,944) |
Loss on extinguishment of debt | (632) | ||
Other expenses | (266) | (16,475) | (1,597) |
Loss before income taxes | (9,936) | (48,969) | (40,292) |
Income tax provision (benefit) | 1,350 | (20,100) | (13,930) |
Loss from continuing operations | (11,286) | (28,869) | (26,362) |
Income from discontinued operations, net of tax | 2,144,145 | 139,616 | 91,215 |
Net income | $ 2,132,859 | $ 110,747 | $ 64,853 |
Basic net income per share: | |||
Loss from continuing operations (in dollars per share) | $ (0.15) | $ (0.39) | $ (0.36) |
Income from discontinued operations, net of tax (in dollars per share) | 28.63 | 1.88 | 1.24 |
Basic net income per share (in dollars per share) | 28.48 | 1.49 | 0.88 |
Diluted net income per share: | |||
Loss from continuing operations (in dollars per share) | (0.15) | (0.39) | (0.36) |
Income from discontinued operations, net of tax (in dollars per share) | 28.63 | 1.88 | 1.24 |
Diluted net income per share (in dollars per share) | $ 28.48 | $ 1.49 | $ 0.88 |
Weighted average shares used in computing net income per share: | |||
Basic (in shares) | 74,897 | 74,229 | 73,557 |
Diluted (in shares) | 74,897 | 74,455 | 73,850 |
Products | |||
Revenue | |||
Total revenue | $ 180,950 | $ 181,036 | $ 110,567 |
Cost of revenue | |||
Total cost of revenue | 100,044 | 96,678 | 62,715 |
Services | |||
Revenue | |||
Total revenue | 374,548 | 332,667 | 277,970 |
Cost of revenue | |||
Total cost of revenue | $ 199,870 | $ 173,216 | $ 153,674 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 2,132,859 | $ 110,747 | $ 64,853 |
Other comprehensive (loss) income, net of tax: | |||
Foreign currency translation reclassification adjustments included in income from discontinued operation (Note 2) | (16,567) | ||
Net investment hedge currency translation adjustment, net of tax effects of $31,769 for the fiscal year 2022 | 93,020 | ||
Foreign currency translation adjustments | (169,266) | (2,922) | 18,877 |
Unrealized gain (losses) on marketable securities, net of tax effects of $(3,729), $0, and $0 for the fiscal year 2022, 2021, and 2020 | (10,908) | 7 | |
Actuarial gains (losses), net of tax effects of $121, ($77), and $27 for the fiscal years 2022, 2021, and 2020 | 454 | 354 | (476) |
Total other comprehensive (loss) income, net of tax | (103,267) | (2,568) | 18,408 |
Comprehensive income | $ 2,029,592 | $ 108,179 | $ 83,261 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent, Parenthetical Disclosure [Abstract] | |||
Net investment hedge currency translation adjustment | $ 31,769 | ||
Unrealized loss on marketable securities, tax | (3,729) | $ 0 | $ 0 |
Actuarial gains (losses) | $ (121) | $ (77) | $ 27 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flows from operating activities | |||
Net income | $ 2,132,859 | $ 110,747 | $ 64,853 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 53,702 | 65,333 | 65,496 |
Impairment of intangible assets | 13,364 | ||
Stock-based compensation | 10,666 | 27,456 | 16,317 |
Amortization of premium on marketable securities and deferred financing costs | (1,894) | 225 | 233 |
Deferred income taxes | 24,469 | (17,265) | (5,407) |
Loss on extinguishment of debt | 632 | ||
(Gain) loss on disposals of property, plant and equipment | (21) | 260 | 226 |
(Gain) loss on divestiture, net of tax | (2,130,265) | 948 | 319 |
Fees paid stemming from divestiture | (52,461) | ||
Taxes paid stemming from divestiture | (431,600) | (91,500) | |
Changes in operating assets and liabilities, net of acquisitions and divestiture: | |||
Accounts receivable | (31,397) | (69,643) | (18,755) |
Inventories | (66,629) | (50,443) | (13,144) |
Accounts payable | (3,926) | 30,967 | 792 |
Deferred revenue | 16,599 | (3,939) | (139) |
Accrued warranty and retrofit costs | 303 | 54 | 760 |
Accrued compensation and tax withholdings | 11,404 | 7,298 | 11,097 |
Other current assets and liabilities | 1,513 | 34,495 | 6,718 |
Net cash (used in) provided by operating activities | (466,046) | 149,857 | 37,866 |
Cash flows from investing activities | |||
Purchases of property, plant and equipment | (73,435) | (52,805) | (39,924) |
Purchases of technology intangibles | (4,000) | ||
Purchases of marketable securities | (1,975,599) | (151) | (10,894) |
Sales and maturities of marketable securities | 705,384 | 121 | 44,820 |
Proceeds from divestiture, net of cash transferred | 2,939,116 | ||
Adjustment to proceeds from divestiture | (1,802) | ||
Acquisitions, net of cash acquired | (125,876) | (93,712) | (15,744) |
Settlement (issuance) of note receivables | 2,000 | (1,000) | |
Net cash provided by (used in) investing activities | 1,465,590 | (146,349) | (22,742) |
Cash flows from financing activities | |||
Proceeds from issuance of common stock | 5,245 | 5,812 | 4,595 |
Principal payments on debt | (49,725) | (828) | (828) |
Payments of finance leases | (388) | (1,164) | (1,277) |
Payment for contingent consideration related to acquisition | (10,400) | ||
Common stock dividends paid | (7,494) | (29,726) | (29,513) |
Net cash used in financing activities | (62,762) | (25,906) | (27,023) |
Effects of exchange rate changes on cash and cash equivalents | (180,819) | 5,205 | 9,254 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 755,963 | (17,193) | (2,645) |
Cash, cash equivalents and restricted cash, beginning of period | 285,333 | 302,526 | 305,171 |
Cash, cash equivalents and restricted cash, end of period | 1,041,296 | 285,333 | 302,526 |
Supplemental disclosures: | |||
Cash paid for interest | 469 | 1,435 | 2,159 |
Cash paid for income taxes, net | $ 452,461 | $ 38,020 | $ 102,010 |
CONSOLIDATED STATEMENTS OF CA_2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 |
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets | |||
Cash and cash equivalents of continuing operations | $ 658,274 | $ 227,427 | $ 250,649 |
Cash and cash equivalents included in assets held for sale | 45,000 | 45,000 | |
Short-term restricted cash | 382,596 | 7,145 | 3,567 |
Long-term restricted cash included in other assets | 426 | 5,761 | 3,310 |
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows | $ 1,041,296 | $ 285,333 | $ 302,526 |
Restricted Cash, Noncurrent, Statement of Financial Position | Other assets | Other assets | Other assets |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY - USD ($) $ in Thousands | Common Stock | Additional Paid-In Capital | Accumulated Other Comprehensive Income | Accumulated Deficit | Treasury Stock | Total |
Beginning Balance at Sep. 30, 2019 | $ 857 | $ 1,921,954 | $ 3,511 | $ (586,412) | $ (200,956) | $ 1,138,954 |
Beginning Balance (in shares) at Sep. 30, 2019 | 85,759,700 | |||||
Increase (Decrease) in Stockholders' Equity | ||||||
Shares issued under restricted stock and purchase plans, net | $ 16 | 4,579 | 4,595 | |||
Shares issued under restricted stock and purchase plans, net (in shares) | 1,534,010 | |||||
Stock-based compensation | 16,317 | 16,317 | ||||
Common stock dividends declared | (29,513) | (29,513) | ||||
Net income | 64,853 | 64,853 | ||||
Foreign currency translation adjustments | 18,877 | 18,877 | ||||
Changes in unrealized gains on marketable securities, net of tax | 7 | 7 | ||||
Actuarial loss, net of tax effects | (476) | (476) | ||||
Ending Balance at Sep. 30, 2020 | $ 873 | 1,942,850 | 21,919 | (551,072) | (200,956) | 1,213,614 |
Ending Balance (in shares) at Sep. 30, 2020 | 87,293,710 | |||||
Increase (Decrease) in Stockholders' Equity | ||||||
Shares issued under restricted stock and purchase plans, net | $ 5 | 5,806 | 5,811 | |||
Shares issued under restricted stock and purchase plans, net (in shares) | 515,212 | |||||
Stock-based compensation | 27,456 | 27,456 | ||||
Common stock dividends declared | (29,726) | (29,726) | ||||
Net income | 110,747 | 110,747 | ||||
Foreign currency translation adjustments | (2,922) | (2,922) | ||||
Actuarial loss, net of tax effects | 354 | 354 | ||||
Ending Balance at Sep. 30, 2021 | $ 878 | 1,976,112 | 19,351 | (470,051) | (200,956) | $ 1,325,334 |
Ending Balance (in shares) at Sep. 30, 2021 | 87,808,922 | 74,347,053 | ||||
Increase (Decrease) in Stockholders' Equity | ||||||
Shares issued under restricted stock and purchase plans, net | $ 7 | 5,239 | $ 5,246 | |||
Shares issued under restricted stock and purchase plans, net (in shares) | 673,203 | |||||
Stock-based compensation | 10,666 | 10,666 | ||||
Common stock dividends declared | (7,494) | (7,494) | ||||
Net income | 2,132,859 | 2,132,859 | ||||
Unrealized gain on derivative asset, net of tax effects | 93,020 | 93,020 | ||||
Foreign currency translation reclassification adjustments included in income from discontinued operation (Note 2) | (16,567) | (16,567) | ||||
Foreign currency translation adjustments | (169,266) | (169,266) | ||||
Changes in unrealized gains on marketable securities, net of tax | (10,908) | (10,908) | ||||
Actuarial loss, net of tax effects | 454 | 454 | ||||
Other | 42 | 42 | ||||
Ending Balance at Sep. 30, 2022 | $ 885 | $ 1,992,017 | $ (83,916) | $ 1,655,356 | $ (200,956) | $ 3,363,386 |
Ending Balance (in shares) at Sep. 30, 2022 | 88,482,125 | 75,020,256 |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement of Stockholders' Equity [Abstract] | |||
Dividend declared per share (in dollars per share) | $ 0.10 | $ 0.40 | $ 0.40 |
Unrealized gain on derivative asset | $ 31,769 | ||
Unrealized loss on marketable securities, tax | (3,729) | $ 0 | $ 0 |
Actuarial gains (losses) | $ (121) | $ (77) | $ 27 |
Nature of the Operations
Nature of the Operations | 12 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of the Operations | 1. Nature of the Operation Azenta, Inc. (“Azenta”, or the “Company”) is a leading global provider of life science sample exploration and management solutions for the life sciences market. The Company supports its customers from research to clinical development with its sample management, automated storage, and genomic services expertise to help bring impactful therapies to market faster. Discontinued Operations In the fourth quarter of fiscal year 2021, the Company entered into a definitive agreement to sell its semiconductor automation business to Thomas H. Lee Partners, L.P. (“THL”). The Company determined that the semiconductor automation business met the “held for sale” criteria and the “discontinued operations” criteria in accordance with Financial Accounting Standard Boards (“FASB”) Accounting Standards Codification (“ASC”) 205, Presentation of Financial Statements On February 1, 2022, the Company completed the sale of the semiconductor automation business for $2.9 billion in cash. Risks and Uncertainties The Company is subject to risks common to companies in the markets it serves, including, but not limited to, global economic and financial market conditions, fluctuations in customer demand, acceptance of new products, development by its of new technological innovations, risk of disruption in its supply chain, the implementation of tariffs and export controls, inflation, dependence on key personnel, protection of proprietary technology, and compliance with domestic and foreign regulatory authorities and agencies. Throughout the pandemic, the Company’s operations have not been significantly interrupted as the Company has adapted to having required employees on site and the balance of employees mostly working from home . The Company has followed government guidance in each region and has implemented the U.S. Centers for Disease Control and Prevention social distancing guidelines and other best practices to protect the health and safety of the Company’s employees. The COVID-19 pandemic has not had a substantial negative impact on the Company’s financial results and a portion of this impact has been mitigated by the Company’s realignment of resources to satisfy incremental orders related to virus research and vaccine development and commercialization. Future impacts of COVID-19 on the Company’s financial results are not fully determinable, as the full impact of the pandemic on the economy and markets which the Company serves is as yet unknown, but will be dependent, in part, on future variants of the virus and vaccine effectiveness against these variants and new or prolonged government responses to the pandemic. The Company’s financial results will also depend on variables including reduced demand from its customers, the degree that the supply chain may be constrained which could impact its delivery of products and services and the potential negative impact on its operations if there is an outbreak among the Company’s employees, as well as the amount of incremental demand caused by research and treatments in the areas of COVID-19 or related threats. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The accompanying Consolidated Financial Statements include the accounts of the Company and its majority-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Significant estimates are associated with recording accounts receivable, inventories, goodwill, intangible assets other than goodwill, long-lived assets, derivative financial instruments, deferred income taxes, revenue over time, and stock-based compensation expense. The Company assesses the estimates on an ongoing basis and records changes in estimates in the period they occur and become known. Actual results could differ from these estimates. The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, including results of operations and financial condition, will depend on future developments that are highly uncertain. This includes results from new information that may emerge concerning COVID-19 and any actions taken to contain or treat COVID-19, as well as the economic impact on local, regional, national and international customers and markets. The Company has made estimates of the impact of COVID-19 within its financial statements and there may be changes to those estimates in future periods. Business Combinations The Company accounts for business acquisitions using the purchase method of accounting, in accordance with which assets acquired and liabilities assumed are recorded at their respective fair values at the acquisition date. The fair value of the consideration paid, including contingent consideration, is assigned to the assets acquired and liabilities assumed based on their respective fair values. Goodwill represents the excess of the purchase price over the estimated fair values of the assets acquired and liabilities assumed. Significant judgment is used in determining fair values of assets acquired and liabilities assumed and contingent consideration, as well as intangibles and their estimated useful lives. Fair value and useful life determinations may be based on, among other factors, estimates of future expected cash flows and appropriate discount rates used in computing present values. These judgments may materially impact the estimates used in allocating acquisition date fair values to assets acquired and liabilities assumed, as well as our current and future operating results. Actual results may vary from these estimates that may result in adjustments to goodwill and acquisition date fair values of assets and liabilities during a measurement period or upon a final determination of asset and liability fair values, whichever occurs first. Adjustments to fair values of assets and liabilities made after the end of the measurement period are recorded within our operating results. Changes in the fair value of contingent consideration resulting from a change in the underlying inputs are recognized in results of operations until the arrangement is settled. Foreign Currency Translation Certain transactions of the Company and its subsidiaries are denominated in currencies other than their functional currency. Foreign currency exchange gains (losses) generated from the settlement and remeasurement of these transactions are recognized in earnings and presented within “Other income (expenses), net” in the Company’s Consolidated Statements of Operations. Net foreign currency transaction and remeasurement losses totaled $1.7 million, $1.8 million and $3.4 million for the fiscal years ended September 30, 2022, 2021 and 2020, respectively. The determination of the functional currency of the Company’s subsidiaries is based on their financial and operational environment and is the local currency of all of the Company’s foreign subsidiaries. The subsidiaries’ assets and liabilities are translated into the reporting currency at period-end exchange rates, while revenue, expenses, gains and losses are translated at the average exchange rates during the period. Gains and losses from foreign currency translations are recorded in “Accumulated other comprehensive income” in the Company’s Consolidated Balance Sheets and presented as a component of comprehensive income in the Company’s Consolidated Statements of Comprehensive Income. The semiconductor automation business had foreign operations which had a cumulative translation adjustment balance of $16.6 million at the date of disposal of this business. This amount was removed from ‘Accumulated other comprehensive income” in the Company’s Consolidated Balance Sheet during the three months ended March 31, 2022, and included within the gain on the sale of the semiconductor automation business in “Income from discontinued operations, net of tax” in the Company’s Consolidated Statement of Operations. As a result, the Company presented a $16.6 million reclassification adjustment in “Accumulated other comprehensive income” in the Company’s Consolidated Balance Sheet at September 30, 2022. Derivative Financial Instruments The Company has transactions and balances denominated in currencies other than the functional currency of the transacting entity. Most of these transactions carry foreign exchange risk are in Germany, the United Kingdom and China. The Company enters into foreign exchange contracts to reduce its exposure to currency fluctuations. The arrangements typically mature in three months or less and they do not qualify for hedge accounting. Net gains and losses related to these contracts are recorded as a component of “Other income (expenses), net” in the accompanying Consolidated Statements of Operations and are as follows for the fiscal years ended September 30, 2022, 2021 and 2020 (in thousands): Fiscal Year Ended September 30, 2022 2021 2020 Realized gains (losses) on derivatives not designated as hedging instruments $ 991 $ (7,781) $ (2,671) The fair values of the forward contracts are recorded in the accompanying Consolidated Balance Sheets as “Prepaid expenses and other current assets” and “Accrued expenses and other current liabilities”. Foreign exchange contract assets and liabilities are measured and reported at fair value based on observable market inputs and classified within Level 2 of the fair value hierarchy described in fair value measurements in Footnote 19, due to a lack of an active market for these contracts. Hedging Activities On February 1, 2022, the Company entered into a cross-currency swap agreement to hedge the variability of exchange rate impacts between the United States dollar and the Euro. Under the terms of the cross-currency swap agreement, the Company notionally exchanged approximately $1.03 billion for approximately €915 million at a weighted average interest rate of approximately 1.196%. The designated notional amount is $960 million and the actual interest rate is 1.283%. 1.283% was in the range of the market value for that day and is the true interest rate on the notional amount. This cross-currency swap agreement expires in February 2023. The Company has designated the cross-currency swap as a hedge of net investments against one of our Euro denominated subsidiaries which requires an exchange of the notional amounts at maturity. At the maturity of the cross currency-swap, the Company will deliver a notional amount of €852 million and receive a notional amount of $960 million at an exchange rate of 1.1261. This cross-currency swap is marked to market at each reporting period, representing the fair values of the cross-currency swap and any changes in fair value are recognized as a component of “Accumulated other comprehensive items, net”, on the Consolidated Statements of Comprehensive Income. Interest accrued on the cross-currency swap is recorded within “Interest income” on the Consolidated Statements of Operations. For the fiscal year ended September 30, 2022, the Company recorded an unrealized gain in the derivative asset of $124.8 million, which is $93 million net of taxes, to “Accumulated other comprehensive income” and recorded “Interest income” of $8.2 million, on this instrument for fiscal year ended September 30, 2022. All derivatives, whether designated as a hedging relationship or not, are recorded in the Consolidated Balance Sheets at fair value. The accounting for changes in fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, the Company must designate the hedging instrument as a fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation based on the exposure being hedged. Certain derivatives held by the Company are not designated as hedges but are used in managing exposure to changes in foreign exchange rates. A fair value hedge is a derivative instrument designated for the purpose of hedging the exposure to changes in fair value of an asset or a liability resulting from a particular risk. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are both recognized in the results of operations and presented in the same caption in the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income. A cash flow hedge is a derivative instrument designated for the purpose of hedging the exposure to variability in future cash flows resulting from a particular risk. If the derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are recorded in accumulated other comprehensive income and recognized in the results of operations when the hedged item affects earnings. Ineffective portions of changes in the fair value of cash flow hedges are recognized in the results of operations. A hedge of a net investment in a foreign operation is achieved through a derivative instrument designated for the purpose of hedging the exposure of changes in value of investments in foreign subsidiaries. If the derivative is designated as a hedge of a net investment in a foreign operation, the effective portions of changes in the fair value of the derivative are recorded in other comprehensive income as a part of the foreign currency translation adjustment. Ineffective portions of net investment hedges are recognized in the results of operations. For derivative instruments not designated as hedging instruments, changes in fair value are recognized in the Consolidated Statements of Operations as gains or losses consistent with the classification of the underlying risk. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash deposits and cash equivalents, marketable securities, derivative instruments and accounts receivable. All of the Company’s cash and cash equivalents, restricted cash, marketable securities and derivative instruments are maintained by major financial institutions. The Company invests cash not used in operations in investment grade, high credit quality securities in accordance with the Company’s investment policy which provides guidelines and limits regarding investments type, concentration, credit quality and maturity terms aimed at maintaining liquidity and reducing risk of capital loss. The Company regularly monitors the creditworthiness of its customers and believes that it has adequately provided for exposure to potential credit losses. The Company’s ten largest customers accounted for approximately 20%, 19% and 19% of its consolidated revenue for the fiscal years ended September 30, 2022, 2021 and 2020, respectively. No customers accounted for more than 10% of the Company’s consolidated revenue for fiscal years 2022, 2021 and 2020. Fair Value Measurements The Company measures certain financial assets and liabilities, including cash equivalents, available for sale securities, accounts receivable, accounts payable, and derivative instruments at fair value. FASB ASC 820, Fair Value Measurement and Disclosures, establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Available for sale securities and derivative instruments are measured at fair value based on quoted market prices or observable inputs other than quoted market prices for identical or similar assets or liabilities. The carrying amounts of cash equivalents, accounts receivable and accounts payable approximate their fair value due to their short-term nature. Cash and Cash Equivalents, and Restricted Cash Cash and cash equivalents consist of cash and highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash. At September 30, 2022 and 2021, cash equivalents were $374.8 million and $0.1 million, respectively. Cash equivalents are reported at fair value. The Company classifies long-term restricted cash balances within “Other assets” on the accompanying Consolidated Balance Sheets based upon the term of the remaining restrictions. Accounts Receivable, Allowance for Expected Credit Losses Trade accounts receivable do not bear interest and are recorded at the invoiced amount. The Company maintains an allowance for expected credit losses representing its best estimate of expected credit losses related to its existing accounts receivable and their net realizable value. The Company determines the allowance based on a number of factors, including an evaluation of customer credit worthiness, the age of the outstanding receivables, economic trends, historical experience, and other information over the payment periods. The Company reviews and adjusts the allowance for expected credit losses on a quarterly basis. Accounts receivable balances are written off against the allowance for expected credit losses when the Company determines that the balances are not recoverable. Provisions for expected credit losses are recorded in “Selling, general and administrative” expenses in the Consolidated Statements of Operations. The Company does not have any off-balance-sheet credit exposure related to its customers. Inventories Inventories are stated at the lower of cost or net realizable value determined on a first-in, first-out basis and include the cost of materials, labor and manufacturing overhead. The Company reports inventories at their net realizable value and provides reserves for excess, obsolete or damaged inventory based on changes in customer demand, technology and other economic factors. Fixed Assets, Intangible Assets and Impairment of Long-lived Assets Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation expense is computed based on the straight-line method and charged to results of operations to allocate the cost of the assets over their estimated useful lives, as follows: Buildings 10 - 40 years Computer equipment and software 3 - 7 years Machinery and equipment 2 - 10 years Furniture and fixtures 3 - 10 years Leasehold improvements are amortized over the shorter of their estimated useful lives or the remaining terms of the respective leases. Equipment used for demonstrations to customers is included in machinery and equipment and depreciated over its estimated useful life. Repair and maintenance costs are expensed as incurred. The Company has developed software for internal use. Internal and external labor costs incurred during the application development stage of a project are capitalized. Costs incurred prior to application development and post implementation are expensed as incurred. Training and data conversion costs are expensed as incurred. As of September 30, 2022, and 2021, the Company had cumulative capitalized direct costs of $26.9 million and $22.7 million, respectively, associated with the development of software for its internal use. As of September 30, 2022, this balance included $8.6 million associated with software still in the development stage which are included within "Property, plant and equipment, net" in the accompanying Consolidated Balance Sheets. During fiscal year 2022, the Company capitalized direct costs of $4.2 million associated with the development of software for its internal use. Cost of disposed assets and the associated accumulated depreciation are derecognized upon their retirement or at the time of disposal, and the resulting gain or loss is included in the Company’s results of operations. The Company identified finite-lived intangible assets other than goodwill as a result of acquisitions. Finite-lived intangible assets are valued based on estimated future cash flows and amortized over their estimated useful lives based on methods that approximate the pattern in which the economic benefits are expected to be realized. Finite-lived intangibles assets and fixed assets are tested for impairment when indicators of impairment are present. For purposes of this test, long-lived assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. If the Company determines that indicators of potential impairment are present, it assesses the recoverability of long-lived asset group by comparing its undiscounted future cash flows to its carrying value. The future cash flow period is based on the future service life of the primary asset within the long-lived asset group. If the carrying value of the long-lived asset group exceeds its future cash flows, the Company determines fair values of the individual net assets within the long-lived asset group to assess potential impairment. If the aggregate fair values of the individual net assets of the group are less than their carrying values, an impairment loss is recognized for an amount in excess of the group’s aggregate carrying value over its fair value. The loss is allocated to the assets within the group based on their relative carrying values, with no asset reduced below its fair value. Finite-lived intangible assets are amortized over their useful lives, as follows: Trademarks 3 - 13 years Patents 7 years Completed technology 7 - 20 years Customer relationships 6 - 14 years Leases The Company has operating leases for real estate and non-real estate and finance leases for non-real estate. The classification of a lease as operating or finance and the determination of the right-of-use asset (“ROU asset”) and lease liability are determined at lease inception. The ROU asset represents the Company’s right to use an underlying asset for the lease term and the lease liability represents the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, an incremental borrowing rate is used based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. Lease expense is recognized on a straight-line basis over the lease term. The Company’s lease agreements may contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. Fixed payments for non-lease components are combined with lease payments and accounted for as a single lease component which increases the amount of the ROU asset and liability. The ROU asset for operating leases is included within Other assets and the ROU asset for finance leases is included within “Property, plant, and equipment, net’ on the Consolidated Balance Sheets. The short-term lease liabilities for both operating leases and finance leases are included within ‘Accrued expenses and other current liabilities” on the Consolidated Balance Sheets. The long-term lease liabilities for operating leases and finance leases are included within ‘Long-term operating lease liabilities”, and “Other long-term liabilities”, respectively, on the Consolidated Balance Sheets. Goodwill Goodwill represents the excess of purchase price over the fair value of net tangible and identifiable intangible assets of the businesses acquired by the Company. Goodwill is tested for impairment annually or more often if impairment indicators are present at the reporting unit level. The Company has elected April 1 st assessment date. If the existence of events or circumstances indicates that it is more likely than not that fair values of the reporting units are below their carrying values, the Company performs additional impairment tests during interim periods to evaluate goodwill for impairment. Application of the goodwill impairment test requires significant judgment based on market and operational conditions at the time of the evaluation, including management’s best estimate of future business activity and the related estimates of future cash flows from the assets and the reporting units that include the associated goodwill. These periodic evaluations could cause management to conclude that impairment factors exist, requiring an adjustment of these assets to their then-current fair market values. Future business conditions and/or activity could differ materially from the projections made by management which could result in additional adjustments and impairment charges. The goodwill impairment test is performed at the reporting unit level. A reporting unit is either an operating segment or one level below it, which is referred to as a “component”. The level at which the impairment test is performed requires an assessment of whether the operations below an operating segment constitute a self-sustaining business, in which case testing is generally performed at this level. In accordance with ASC 350, Intangibles- Goodwill and Other We determine fair values of our reporting units based on an income approach in accordance with the discounted cash flow method, or DCF Method. The DCF Method is based on projected future cash flows and terminal value estimates discounted to their present values. Terminal value represents a present value an investor would pay on the valuation date for the rights to the cash flows of the business for the years subsequent to the discrete cash flow projection period. We consider the DCF Method to be the most appropriate valuation technique since it is based on management’s long-term financial projections. In addition to determining the fair value of our reporting units based on the DCF Method, we also compare the aggregate values of our net corporate assets and reporting unit fair values to our overall market capitalization and use certain market-based valuation techniques to assess the reasonableness of the reporting unit fair values determined in accordance with the DCF Method. The key inputs used in the DCF Method include revenue growth rates, gross margin percentage, selling, general and administrative expense percentage and discount rates that are at or above our weighted-average cost of capital. We derive discount rates that are commensurate with the risks and uncertainties inherent in the respective reporting units and our internally developed projections of future cash flows. Application of the goodwill impairment test requires judgment based on market and operational conditions at the time of the evaluation, including management’s best estimates of the reporting unit’s future business activity and the related estimates and assumptions of future cash flows from the assets that include the associated goodwill. Different assumptions of revenue growth rates, gross margin percentage, selling, general and administrative expense percentage and the discount rate used in the DCF Method could result in different estimates of the reporting unit’s fair value as of each testing date. In the fourth quarter of 2022, the Company experienced a decline in its stock price resulting in the total market value of our shares of stock outstanding (our market capitalization), being less than the carrying value of its reporting units. Therefore, as of September 30, 2022, the Company assessed several events and circumstances that could affect the significant inputs used to determine the fair value of our reporting units, including the significance of the amount of excess fair value over carrying value, updates to operating margins and cash flows, and the overall change in the economic climate. The Company considered the decline in the market capitalization being less than the carrying value of its reporting units in its evaluation of goodwill impairment indicators and determined it appropriate to perform a quantitative assessment of both its reporting units as of September 30, 2022. The Company’s valuation was based on the DCF method described above. The Company concluded that there was no impairment In the event the financial performance of either of the two segments does not meet our expectations in the future, The Company experiences a prolonged macro or market downturn, or there are other negative revisions to key assumptions, in the DCF Method, the Company may be required to perform additional impairment analyses and could be required to recognize a non-cash impairment charge. Warranty Obligations The Company offers warranties on the sales of certain of its products and records warranty obligations for estimated future claims at the time revenue is recognized. Warranty obligations are estimated based on historical experience and management’s estimate of the level of future claims. Revenue Recognition The Company generates revenue from the following sources: ● Products, including sales of automated cold sample management systems, consumables, instruments, spare parts, and software. ● Services, including repairs, upgrades, diagnostic support, installation, as well as biological sample services such as DNA sequencing, gene synthesis, molecular biology, bioinformatics, biological sample storage, sample acquisition and other support services. The Company recognizes revenue for the transfer of such promised products or services to customers in an amount that reflects the consideration to which the Company expects to be entitled to in exchange for those products or services. Under ASC 606, Revenue from Contracts with Customers ● Identify the contract with a customer. Contracts are accounted for when approval and commitment has been received from both parties, the rights of each party are identified, payment terms are identified, the contract has commercial substance and collectability of the consideration to which the Company is entitled is probable. Contracts are generally evidenced through receipt of an approved purchase order or execution of a binding arrangement and can be both short and long-term. Long-term contracts within the segments relate to the sale of products with attached service-type warranty contracts that generally have a stated contract term that is greater than one year. Contracts may contain acceptance provisions where the Company is required to obtain technical acceptance from the customer upon completion of installation services and evidence of the system’s functional performance within the customer’s operating environment. The Company has concluded that acceptance criteria within its contracts can be objectively evaluated and will not impact the Company’s transfer of control assessment under ASC 606. ● Identify the performance obligations in the contract. Performance obligations include the sale of products and services. Certain customer arrangements related to the sale of automated cold sample management systems generally include more than one performance obligation and may include a combination of goods and or services, such as products with installation services or service-type warranty obligations. These contracts include multiple promises and as a result, the Company is required to evaluate each promise and determine whether the promise qualifies as a performance obligation within the contract. Contracts may contain the option to acquire additional products or services at defined prices. The Company reviews the pricing of these options to determine whether the option would exist independently of the current contract. If the pricing of contract options provides a material right to the customer that it would not receive without entering into the current contract, the Company accounts for the option as a separate performance obligation. ● Determine the transaction price. The transaction price of the Company’s contracts with its customer is generally fixed, based on the amounts to be contractually billed to the customer. Although uncommon, certain contracts may contain variable consideration in the form of customer allowances and rebates that consist primarily of retrospective volume-based discounts and other incentive programs. Variable consideration is estimated at contract inception and included in the transaction price if it is probable that a subsequent change in the estimate would not result in a significant revenue reversal. The period between transfer of control of the performance obligations within a customer contract and timing of payment is generally within one year. As a result, the Company’s contracts typically do not include significant financing components. ● Allocate the transaction price to the performance obligations in the contract. For customer contracts that contain more than one performance obligation, the Company allocates the total transaction consideration to each performance obligation based on the relative stand-alone selling price of each performance obligation within the contract. The Company relies on either observable standalone sales or an expected cost-plus margin approach to determine the standalone selling price of offerings, depending on the nature of the performance obligation. Performance obligations whose standalone selling price is estimated using an expected cost-plus margin approach relate to the sale of customized automated cold sample management systems, services, and service-type warranties. ● Recognize revenue when or as the Company satisfies a performance obligation . The Company satisfies its performance obligations by transferring a product or service either at a point in time or over time, when the transfer of control of the underlying performance obligation has occurred. Control is evidenced by the customer’s ability to direct the use of and obtain substantially all the remaining benefits from the performance obligation. Revenue from third-party sales for which the Company does not meet the criteria for gross revenue recognition is recognized on a net basis. All other revenue is recognized on a gross basis. The Company excludes from the transaction price all sales taxes assessed by governmental authorities and as a result, revenue is presented net of tax. As a result of applying this five-step model under ASC 606, the Company recognizes revenues from its sale of products and services as follows: ● Products: Revenue from the sale of standard products is recognized upon their transfer of control to the customer, which is considered complete at either the time of shipment or arrival at destination, based on the agreed upon terms within the contract. The Company’s payment terms for the sale of standard products are typically 30 to 60 days . Revenue from the sales of certain products that involve significant customization, which include primarily automated cold sample management systems is recognized over time as the asset created by the Company’s performance does not have alternative use to the Company and an enforceable right to payment for pe |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Sep. 30, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | 3. Discontinued Operations Disposition of Semiconductor Automation Business On September 20, 2021, the Company entered into a definitive agreement to sell its semiconductor automation business to THL. On February 1, 2022, the Company completed the sale of the semiconductor automation business for $2.9 billion in cash. Net income from discontinued operations for the fiscal year ended September 30, 2022 is inclusive of the gain on sale of $2.6 billion. As part of the transaction, the Company recorded an $18.1 million liability related to retention bonuses and cash settled stock-based awards for former employees of the Company that were conveyed with the transaction. The Company paid $0.6 million in the quarter ended September 30, 2022, and will remit the remaining payment to THL during fiscal 2023, at the end of the retention period and THL will directly pay the Company’s former employees. Following the completion of the sale, the Company no longer serves the semiconductor market. In connection with the closing of the sale, the Company and THL entered into a transition services agreement, to which both the Company and THL will provide each other with certain transition services related to finance and accounting, information technology, human resources, compliance, facilities, legal and research and development support, for time periods ranging from three During the fourth quarter of fiscal 2021, the Company determined that the semiconductor automation business met the criteria to be classified as a discontinued operation and, as a result, its historical financial results are reflected in the Company’s financial statements as a discontinued operation, and assets and liabilities were classified as assets and liabilities held for sale. The following table presents the financial results of automation business discontinued operations with respect to the automation business (in thousands): Year Ended September 30, 2022 2021 2020 Revenue Products $ 244,962 $ 624,358 $ 463,309 Services 19,468 55,698 45,427 Total revenue 264,430 680,056 $ 508,736 Cost of revenue Products 141,165 354,786 274,727 Services 11,159 29,750 26,134 Total cost of revenue 152,324 384,536 300,861 Gross profit 112,106 295,520 207,875 Operating expenses Research and development 18,486 48,647 41,245 Selling, general and administrative 30,622 70,634 50,881 Restructuring charges - 230 692 Total operating expenses 49,108 119,511 92,818 Operating income 62,998 176,009 115,057 Other income, net Gain on divestiture 2,561,820 133 207 Income before income taxes 2,624,818 176,142 115,264 Income tax provision 480,673 35,357 23,867 Net income from discontinued operations $ 2,144,145 $ 140,785 $ 91,397 On July 1, 2019, the Company sold its semiconductor cryogenics business. During the fiscal year ended September 30, 2021, the Company recorded a $1.3 million negative working capital adjustment to the gain on divestiture that was previously recorded in the fourth fiscal quarter of 2019. This adjustment is shown within other income, net within the income statement for the semiconductor automation business. The following table presents the significant non-cash items and capital expenditures for the discontinued operations with respect to the semiconductor automation business that are included in the Consolidated Statements of Cash Flows (in thousands): Year Ended September 30, 2022 2021 2020 Depreciation and amortization $ - $ 8,472 $ 11,374 Capital expenditures 2,862 6,414 4,815 Stock-based compensation - 7,405 5,501 The carrying value of the assets and liabilities of the discontinued operations with respect to the semiconductor automation business on the Consolidated Balance Sheets as of September 30, 2021 was as follows (in thousands): 2021 Assets Cash and cash equivalents $ 45,000 Accounts receivable, net 142,256 Inventories 110,735 Other current assets 13,394 Total current assets of discontinued operation $ 311,385 Property, plant and equipment, net $ 32,058 Long-term deferred tax assets 3,167 Goodwill 81,477 Intangibles, net 44,468 Other assets 22,658 Total long-term assets of discontinued operation $ 183,828 Liabilities Accounts payable $ 68,074 Deferred revenue 7,141 Accrued warranty and retrofit costs 6,081 Accrued compensation and benefits 18,144 Accrued Income Taxes 11,702 Accrued expenses and other current liabilities 18,014 Total current liabilities of discontinued operation $ 129,156 Long-term tax reserves 2,356 Long-term deferred tax liabilities 6,548 Long-term pension liabilities 5,490 Long-term operating lease liabilities 15,425 Other long-term liabilities 2,625 Total long-term liabilities of discontinued operation $ 32,444 Acquisition within the Semiconductor Automation Business On April 29, 2021, the Company acquired Precise Automation Inc., a leading developer of collaborative robots and automation subsystems headquartered in Fremont, California. The total cash purchase price for the acquisition was approximately $69.8 million. Precise provides the semiconductor automation business with a product offering and technology portfolio to take advantage of the opportunities in the collaborative robot market. The allocation of the consideration included $38.7 million of technology, $2.5 million of customer relationships, $33.1 million of goodwill, $6.2 million of deferred tax liabilities, and several other assets and liabilities. The Company applied variations of the income approach to estimate the fair values of the intangible assets acquired. The completed technology was valued using excess earnings method and the customer relationships was valued using distributor margin method, both of which have a useful life of 11 years. The intangible assets acquired are amortized over the total weighted average period of 11 years using methods that approximate the pattern in which the economic benefits are expected to be realized. The Company has included the financial results of the acquired operations within income from discontinued operations on its Consolidated Statements of Operations. The goodwill and intangible assets are not |
Acquisitions
Acquisitions | 12 Months Ended |
Sep. 30, 2022 | |
Business Combinations [Abstract] | |
Acquisitions | 4. Acquisitions The Company recorded the assets acquired and liabilities assumed related to the below acquisitions at their fair values as of the acquisition date, from a market participant’s perspective. While the Company uses its best estimates and assumptions as part of the purchase price allocation process to value the assets acquired and liabilities assumed on the acquisition date, its estimates and assumptions are subject to refinement. Fair value estimates are based on a complex series of judgments about future events and uncertainties and rely heavily on estimates and assumptions. The judgments used to determine the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact the Company’s results of operations. The finalization of the assignment of fair values will be completed within one year after the respective acquisition date. The Company did not present a pro forma information summary for its consolidated results of operations for the acquisitions completed because such results were immaterial. Acquisition Completed in Fiscal Year 2022 Barkey Holding GmbH On July 1, 2022, the Company acquired Barkey Holding GmbH and its subsidiaries (“Barkey”), a leading provider of controlled rate thawing devices for customers in the medical, biotech and pharmaceutical industries, head quartered in Leopoldshöhe, Germany. The Company has included the financial results of the acquired operations within the Life Sciences Products segment. The total cash purchase price of the acquisition was approximately $84.8 million, net of cash acquired. The acquisition brings innovative products and capabilities that extend the Company’s extensive cold chain of condition portfolio of products and services, while also expanding our customer reach in the fast-growing cell and gene therapy space. The allocation of the consideration included $3.0 million of customer relationships, $29.0 million of technology, $57.8 million of goodwill, $9.8 million of deferred tax liabilities, and several other assets and liabilities. The weighted useful life of all the intangible assets acquired is 15 years. The goodwill and intangibles are not Acquisitions Completed in Fiscal Year 2021 Abeyatech LLC On April 2, 2021, the Company acquired Abeyatech LLC. The Company has included the financial results of the acquired operations within the Life Sciences Products segment. The purchase price includes $9.9 million cash payment and $9.4 million in contingent consideration, at present value, based on the acquired business’ performance for the twelve-month period ending December 31, 2021, subject to customary working capital adjustments and other adjustments. The acquisition enhances the breadth and depth of the Company’s offerings and expands its expertise in the Life Sciences Products segment. The allocation of the consideration included $11.9 million of technology, $4.4 million of goodwill, and several other assets and liabilities for $3.0 million. The weighted useful life of all the intangible assets acquired is 12 years. The goodwill and intangibles are tax deductible Trans-Hit Biomarkers, Inc. On December 3, 2020, the Company acquired Trans-Hit Biomarkers Inc. (“THB”), a worldwide biospecimen procurement service provider based in Montreal, Canada. THB has an extensive collection capability for biospecimens and clinical samples through a worldwide partner network of clinical sites and biobanks. The total cash purchase price of the acquisition was approximately $15.1 million, net of cash acquired. The acquisition enhances the breadth and depth of the Company’s offerings and expands its expertise in the Life Sciences Services segment. The allocation of the consideration included $7.8 million of customer relationships, $9.3 million of goodwill, $2.4 million of deferred tax liabilities, and several other assets and liabilities. The weighted useful life of all intangibles acquired is 11 years. The Company has included the financial results of the acquired operations in the Life Sciences Services segment. The goodwill not Acquisitions Completed in Fiscal Year 2020 On February 11, 2020, the Company acquired RURO, Inc. (“RURO”), an informatics software company based in Frederick, Maryland. RURO provides cloud-based software solutions to manage laboratory workflow and bio-sample data for a broad range of customers in the biotech, healthcare, and pharmaceutical sectors. The addition of RURO's capabilities and offerings will enable the Company to offer enhanced on-site and off-site management of biological sample inventories as well as integration solutions to its customers for their increasingly distributed workflow. The total cash purchase price of the acquisition net of cash acquired was $15.2 million. The allocation of the consideration primarily included $0.6 million of accounts receivable, $2.9 million of customer relationships, $2.9 million of technology assets, $11.0 million of goodwill, and $2.7 million of liabilities. The goodwill not |
Marketable Securities
Marketable Securities | 12 Months Ended |
Sep. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities | 5. Marketable Securities The Company invests in marketable securities that are classified as available-for-sale and records them at fair value in the Company’s Consolidated Balance Sheets. Marketable securities reported as current assets represent investments that mature within one year from the balance sheet date. Long-term marketable securities represent investments with maturity dates greater than one year from the balance sheet date. Unrealized gains and losses are excluded from earnings and reported as a separate component of “Accumulated other comprehensive income” in the accompanying Consolidated Balance Sheets until the security is sold or matures. Gains or losses realized from sales of marketable securities are computed based on the specific identification method and recognized as a component of "Other income (expenses)" in the accompanying Consolidated Statements of Operations. During fiscal year 2022, the Company had sales and maturities of marketable securities of $705.4 million. During the fiscal year 2021, there were insignificant sales of marketable securities. The following is a summary of the amortized cost and the fair value, including accrued interest receivable, as well as unrealized gains (losses) on the short-term and long-term marketable securities as of September 30, 2022 and 2021 (in thousands): Gross Gross Amortized Unrealized Unrealized Cost Losses Gains Fair Value September 30, 2022: U.S. Treasury securities and obligations of U.S. government agencies $ 804,774 $ (6,163) $ 21 $ 798,632 Bank certificates of deposits 8,335 (158) 1 8,178 Corporate securities 406,270 (8,113) — 398,157 Municipal securities 59,043 (226) — 58,817 $ 1,278,422 $ (14,660) $ 22 $ 1,263,784 September 30, 2021: Bank certificates of deposits $ 30 $ — $ — $ 30 Corporate securities 3,624 — — 3,624 Municipal securities — — — — Other debt securities 25 — — 25 $ 3,679 $ — $ — $ 3,679 The fair values of the marketable securities by contractual maturities at September 30, 2022 are presented below (in thousands). Amortized Cost Fair Value Due in one year or less $ 914,706 $ 909,913 Due after one year through five years 360,930 351,085 Due after five years through ten years — — Due after ten years 2,786 2,786 Total marketable securities $ 1,278,422 $ 1,263,784 Expected maturities could differ from contractual maturities because the security issuers may have the right to prepay obligations without prepayment penalties. The Company reviews the marketable securities for impairment at each reporting period to determine if any of the securities have experienced an other-than-temporary decline in fair value. The Company considers factors, such as the length of time and extent to which the market value has been less than the cost, the financial condition and near-term prospects of the issuer, the Company’s intent to sell, or whether it is more likely than not it will be required to sell the investment before recovery of its amortized cost basis. If the Company believes that an other-than-temporary decline in fair value has occurred, it writes down the investment to its fair value and recognizes the credit loss in earnings and the non-credit loss in accumulated other comprehensive income or loss. Unrealized losses from fixed-income securities are primarily attributable to changes in interest rates. Management does not believe any unrealized losses represent impairments based on our evaluation of the available evidence. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Sep. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | 6. Property, Plant and Equipment Property, plant and equipment were as follows as of September 30, 2022 and 2021 (in thousands): September 30, 2022 2021 Buildings, land, and land use right $ 29,581 $ 4,987 Computer equipment and software 35,814 27,350 Machinery and equipment 90,700 77,217 Furniture and fixtures 5,806 2,516 Leasehold improvements 37,495 27,165 Capital projects in progress 36,644 52,435 Right-of-use Asset 2,476 2,252 238,516 193,922 Less: accumulated depreciation and amortization (84,046) (63,203) Property, plant and equipment, net $ 154,470 $ 130,719 The property, plant and equipment and accumulated depreciation and amortization amounts in 2021 in the table above have been adjusted to remove certain fully depreciated assets. Depreciation expense was $21.9 million, $19.5 million and $18.7 million, respectively, for the fiscal years ended September 30, 2022, 2021, and 2020. The Company recorded $9.2 million of additions to property, plant and equipment for which cash payments had not yet been made as of September 30, 2022. |
Leases
Leases | 12 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
Leases | 7. Leases The Company has operating leases for real estate and non-real estate and finance leases for non-real estate in North America, Europe, and Asia. Non-real estate leases are primarily related to vehicles and office equipment. Lease expiration dates range between 2022 and 2042. The components of operating lease expense were as follows (in thousands): Year Ended September 30, 2022 2021 Operating lease costs $ 9,396 $ 7,630 Finance lease costs: Amortization of assets 182 859 Interest on lease liabilities 5 39 Total finance lease costs 187 898 Variable lease costs 3 1,833 Short-term lease costs 1,411 199 Total lease costs $ 10,997 $ 10,560 Supplemental balance sheet information related to leases is as follows (in thousands, except lease term and discount rate): September 30, 2022 September 30, 2021 Operating Leases: Operating lease right-of-use assets $ 54,059 $ 49,650 Accrued expenses and other current liabilities $ 6,924 $ 5,254 Long-term operating lease liabilities 49,227 45,088 Total operating lease liabilities $ 56,151 $ 50,342 Finance Leases: Property, plant and equipment, at cost $ 2,476 $ 2,252 Accumulated amortization (2,276) (2,105) Property, plant and equipment, net $ 200 $ 147 Accrued expenses and other current liabilities $ 96 $ 360 Other long-term liabilities 98 (10) Total finance lease liabilities $ 194 $ 350 Weighted average remaining lease term (in years): Operating leases 10.82 11.33 Finance leases 2.19 0.53 Weighted average discount rate: Operating leases 3.93 % 3.90 % Finance leases 1.29 % 4.87 % Supplemental cash flow information related to leases was as follows (in thousands): Year Ended September 30, 2022 2021 Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $ 7,977 $ 6,213 Operating cash flows from finance leases 5 41 Financing cash flows from finance leases 393 1,130 ROU assets obtained in exchange for lease liabilities: Operating leases $ 10,842 $ 31,944 Future lease payments for operating leases as of September 30, 2022 were as follows for the subsequent five fiscal years and thereafter (in thousands): Operating Leases Fiscal year ended September 30, 2023 $ 8,907 2024 7,648 2025 7,251 2026 6,275 2027 5,948 Thereafter 35,366 Total future lease payments 71,395 Less imputed interest (15,244) Total lease liability balance $ 56,151 As of September 30, 2022, the Company has not entered into any significant leases that have not commenced yet. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Sep. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | 8. Goodwill and Intangible Assets Goodwill represents the excess of net book value over the estimated fair value of net tangible and identifiable intangible assets of a reporting unit. Goodwill is tested for impairment annually or more often if impairment indicators are present at the reporting unit level. The Company elected April 1 st In accordance with ASC 350 , The Company has two operating, two reportable segments, and two reporting units consisting of Life Sciences Products and Life Sciences Services. The Company previously had three reporting units, which included the Life Sciences Products operating segment, which constitutes of a single reporting unit, and two reporting units within the Life Sciences Services operating segment, sample repository solutions and genomic services, which were combined into a single reporting unit within the Life Sciences Services segment following the 2021 impairment test. The Company completed its annual goodwill impairment test as of April 1, 2022 for its two reporting units. The two reporting units include Life Sciences Products as the only reporting unit within the Life Sciences Products segment, and Life Sciences Services as the only reporting unit within the Life Sciences Services segment. The Company conducted a qualitative assessment for both the Life Science Products and Life Science Services reporting units and determined that it was more likely than not that the fair value of each reporting unit was greater than its carrying value. Based on the test results, the Company determined that no adjustment to goodwill was necessary. As a result of the analysis, the Company did not perform the quantitative assessment for the reporting units, and did not In the fourth quarter of 2022, the Company experienced a decline in our stock price resulting in its market capitalization being less than its carrying value. Therefore, as of September 30, 2022, the Company assessed several events and circumstances that could affect the significant inputs used to determine the fair value of its reporting units, including updates to operating margins and cash flows, and the overall change in the economic climate. The Company considered the decline in the market capitalization being less than the carrying value of its reporting units in its evaluation of goodwill impairment indicators and determined it appropriate to perform a quantitative assessment of both its reporting units as of September 30, 2022. The Company’s valuation was based on the DCF Method. The Company concluded that there was no impairment , as the estimated fair value of the reporting units exceeded their carrying value. The following table sets forth the changes in the carrying amount of goodwill by reporting unit since September 30, 2020 (in thousands): Life Sciences Life Sciences Products Services Total Balance, at September 30, 2020 $ 103,278 $ 349,899 $ 453,177 Acquisitions and currency translation adjustments 6,860 9,319 16,179 Balance, at September 30, 2021 110,138 359,218 469,356 Acquisitions and currency translation adjustments 44,474 (207) 44,267 Balance, at September 30, 2022 $ 154,612 $ 359,011 $ 513,623 During fiscal year 2022, the Company recorded a goodwill increase of $44.3 million primarily related to the acquisitions of Barkey of $57.8 million in the fourth quarter of fiscal year 2022 net with the impact of foreign currency translation adjustments of $13.5 million. The components of the Company’s identifiable intangible assets as of September 30, 2022 and 2021 are as follows (in thousands): September 30, 2022 September 30, 2021 Accumulated Net Book Accumulated Net Book Cost Amortization Value Cost Amortization Value Patents $ 1,225 $ 1,106 $ 119 $ 1,242 $ 1,002 $ 240 Completed technology 99,525 37,991 61,534 75,527 32,383 43,144 Trademarks and trade names 400 41 359 424 33 391 Non-competition agreements 681 439 242 681 249 432 Customer relationships 246,949 130,802 116,147 253,486 111,159 142,327 Other intangibles 202 202 — 246 246 — $ 348,982 $ 170,581 $ 178,401 $ 331,606 $ 145,072 $ 186,534 Amortization expense for intangible assets was $32.3 million, $37.4 million and $35.4 million, respectively, for the fiscal years ended September 30, 2022, 2021 and 2020. Estimated future amortization expense for the intangible assets as of September 30, 2022 is as follows (in thousands): 2023 $ 30,837 2024 28,157 2025 24,071 2026 21,471 2027 16,955 Thereafter 56,910 $ 178,401 |
Supplementary Balance Sheet Inf
Supplementary Balance Sheet Information | 12 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Supplementary Balance Sheet Information | 9. Supplementary Balance Sheet Information The following is a summary of accounts receivable at September 30, 2022 and 2021 (in thousands): September 30, 2022 2021 Accounts receivable $ 168,920 $ 124,195 Less allowance for expected credit losses (5,162) (4,318) Accounts receivable, net $ 163,758 $ 119,877 The allowance for expected credit losses for the fiscal years ended September 30, 2022, 2021 and 2020 is as follows (in thousands): Balance at Reversals of Balance at Beginning of Bad Debt End of Description Period Provisions Expense Period 2022 Allowance for expected credit losses $ 4,318 $ 3,536 $ (2,692) $ 5,162 2021 Allowance for expected credit losses 7,146 3,445 (6,273) 4,318 2020 Allowance for expected credit losses 3,548 4,600 (1,002) 7,146 The following is a summary of inventories at September 30, 2022 and 2021 (in thousands): September 30, 2022 2021 Inventories Raw materials and purchased parts $ 39,685 $ 27,644 Work-in-process 4,816 4,787 Finished goods 41,043 27,967 Total inventories $ 85,544 $ 60,398 The activity for excess and obsolete inventory reserves is as follows for the fiscal years ended September 30, 2022, 2021 and 2020 (in thousands): Balance at Inventory Balance at Beginning of Disposals and End of Description Period Provisions Adjustments Period 2022 Reserves for excess and obsolete inventory $ 3,681 $ 1,752 $ (1,351) $ 4,082 2021 Reserves for excess and obsolete inventory 3,136 1,522 $ (977) 3,681 2020 Reserves for excess and obsolete inventory 3,157 1,515 (1,536) 3,136 The activity for valuation allowance for deferred tax assets is as follows for the fiscal years ended September 30, 2022, 2021 and 2020 (in thousands): Balance at Balance at Beginning of Charged to Charged to End of Description Period Income Tax Benefit Other Accounts Period 2022 Valuation allowance for deferred tax assets $ 8,592 $ 1,337 $ (4,002) $ 5,927 2021 Valuation allowance for deferred tax assets 10,623 (3,247) $ 1,216 8,592 2020 Valuation allowance for deferred tax assets 12,843 (2,514) 294 10,623 The Company establishes reserves for estimated cost of product warranties based on historical information. Product warranty reserves are recorded at the time product revenue is recognized, and retrofit accruals are recorded at the time retrofit programs are established. The Company’s warranty obligation is affected by product failure rates, utilization levels, material usage, service delivery costs incurred in correcting a product failure and supplier warranties on parts delivered to the Company. The following is a summary of product warranty and retrofit activity on a gross basis for the fiscal years ended September 30, 2022, 2021 and 2020 (in thousands): Amount Balance at September 30, 2019 $ 2,314 Accruals for warranties during the year 2,779 Costs incurred during the year (2,882) Balance at September 30, 2020 2,211 Accruals for warranties during the year 2,300 Costs incurred during the year (2,181) Balance at September 30, 2021 2,330 Adjustments for acquisitions 254 Accruals for warranties during the year 2,438 Costs incurred during the year (2,132) Balance at September 30, 2022 $ 2,890 |
Debt and Line of Credit
Debt and Line of Credit | 12 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Debt and Line of Credit | 10. Debt and Line of Credit On October 4, 2017, the Company entered into a $200.0 million term loan with the lenders pursuant to the terms of a credit agreement. The term loan was issued at $197.6 million, or 98.8% of its par value, resulting in a discount of $2.4 million, or 1.2%, which represented loan origination fees paid at the closing. During the fiscal year ended September 30, 2022 and 2021, the weighted average stated interest rate paid on all outstanding debt was 2.7% and 2.8%, respectively. During the year ended September 30, 2022 and 2021, the Company incurred aggregate interest expense of $0.5 million and $1.7 million, respectively, in connection with the borrowings. On February 1, 2022, the Company completed the sale of its semiconductor automation business and used $49.7 million of the proceeds from the sale to extinguish the outstanding balance of the term loan. The Company also terminated its revolving line of credit which had no borrowings outstanding. The Company recorded a loss on debt and line of credit extinguishment of $0.6 million. The deferred financing costs were accreted over the term of the loan using the effective interest rate method and are included in “Interest expense” in the accompanying Consolidated Statements of Operations. The Company’s deferred financing costs as of September 30, 2022 were zero, due to the extinguishment of debt during the fiscal year. A s of September 30, 2021, deferred financing costs were $0.3 million. |
Income Taxes
Income Taxes | 12 Months Ended |
Sep. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 11. Income Taxes The components of the income tax provision (benefit) from continuing operations for the fiscal years are as follows (in thousands): Year Ended September 30, 2022 2021 2020 Current income tax provision (benefit): Federal $ (4,826) $ (14,247) $ 661 State 607 (867) 375 Foreign 4,627 15,484 3,721 Total current income tax provision 408 370 4,757 Deferred income tax provision (benefit): Federal (815) (11,469) (11,833) State (180) (2,283) (1,976) Foreign 1,937 (6,718) (4,878) Total deferred income tax provision (benefit) 942 (20,470) (18,687) Income tax provision (benefit) $ 1,350 $ (20,100) $ (13,930) The components of income (loss) from continuing operations before income taxes for the fiscal years are as follows (in thousands): Year Ended September 30, 2022 2021 2020 Domestic $ (39,392) $ (88,763) $ (48,932) Foreign 29,456 39,794 8,640 Income before income taxes $ (9,936) $ (48,969) $ (40,292) The differences between the income tax provision (benefit) on income (loss) from continuing operations and income taxes computed using the applicable U.S. statutory federal tax rates for the fiscal years ended September 30, 2022, 2021 and 2020 are as follows (in thousands): Year Ended September 30, 2022 2021 2020 Income tax benefit computed at federal statutory rate $ (2,086) $ (10,284) $ (8,461) State income taxes, net of federal benefit (776) (1,005) (1,557) Foreign income taxed at different rates (1,182) (2,594) (1,786) Impact of investments in subsidiaries — 7,128 289 Change in deferred tax asset valuation allowance 1,337 (3,247) (2,514) Impact of change in uncertain tax positions (358) (10,607) 1,144 Global intangible low taxed income, net of foreign tax credits 4,060 4,051 2,815 Impact of tax rate changes 1,531 165 (185) Compensation (1,199) 462 (2,302) Tax credits (2,102) (4,050) (676) Merger costs 1,629 20 37 Other non-deductible expenses 717 468 398 Other true-ups 763 — (520) Research and development expense deduction (910) (730) (547) Other (74) 123 (65) Income tax provision (benefit) $ 1,350 $ (20,100) $ (13,930) The Company has not provided deferred income taxes on the outside basis differences of its foreign subsidiaries which are not held for sale and part of the continuing operations business. For continuing operations the Company maintains its general assertion of indefinite reinvestment as of September 30, 2022. The foreign earnings are expected to be reinvested in foreign operations and acquisitions. Unremitted foreign earnings total approximately $1.3 billion. The Company did not calculate estimated deferred tax liabilities related to these earnings because such calculations would not be practicable due to the complexity of its hypothetical calculation. The taxes on these earnings would primarily consist of foreign withholding taxes, taxes on foreign exchange gains and losses resulting from potential future distributions, and minimal U.S. state income taxes. Substantially all of the unremitted earnings of the Company have been taxed in the U.S. based on the international tax regulations. The significant components of the net deferred tax assets and liabilities as of September 30, 2022 and 2021 are as follows (in thousands): September 30, 2022 2021 Accruals and reserves not currently deductible $ 9,704 $ 17,272 Federal, state and foreign tax credits — 4,350 Other assets 14 502 Equity compensation 3,508 5,872 Net operating loss carryforwards 7,397 9,693 Lease liabilities 14,700 12,958 Mergers and acquisitions — 7,239 Deferred revenue 3,609 3,258 Inventory reserves and valuation 1,081 6,946 Deferred tax assets 40,013 68,090 Depreciation and intangible amortization (56,856) (50,181) Right-of-use assets (14,146) (12,683) Other liabilities (402) (1,883) Net unrealized loss (27,144) — Deferred tax liabilities (98,548) (64,747) Valuation allowance (5,927) (8,592) Net deferred tax asset (liability) $ (64,462) $ (5,249) Not included in the net deferred tax asset (liability) shown above are long-term assets held for sale of $3.2 million and long-term liabilities held for sale of $6.5 million as of September 30, 2021. The deferred tax assets on the balance sheets for September 30, 2022 and 2021 also include $1.1 million and $2.3 million deferred tax charge related to the company’s intercompany profit elimination, respectively. ASC Topic 740 requires that all available evidence, both positive and negative, be considered in determining, based on the weight of that evidence, whether a valuation allowance is needed. The weight given to the potential effect of negative and positive evidence should be commensurate with the extent to which it can be objectively verified. The more negative evidence that exists, (a) the more positive evidence is necessary and (b) the more difficult it is to support a conclusion that a valuation allowance is not needed for some portion or the entire deferred tax asset. A cumulative loss in recent years is considered a significant piece of negative evidence that is difficult to overcome in assessing the need for a valuation allowance. The Company evaluates the realizability of its deferred tax assets by tax-paying component and assesses the need for a valuation allowance on an annual and quarterly basis. The Company evaluates the profitability of each tax-paying component on a historical cumulative basis and a forward-looking basis in the course of performing this analysis. After evaluating all the relevant positive and negative evidence, the Company is not recording any additional valuation allowance against deferred tax assets in the United States. The Company is in a net deferred tax liability position and has sufficient future taxable income from the reversal of taxable temporary difference to offset the deductible temporary differences. The Company continued to hold a United States valuation allowance related to the realizability of certain state tax credits and net operating loss carry-forwards. The Company also maintains valuation allowances against net deferred tax assets in certain foreign tax-paying components as of the end of fiscal year 2022. As of September 30, 2022, the Company has tax-effected federal, state and foreign net operating loss carry-forwards of approximately $0.4 million, $2.1 million and $4.9 million, respectively. The federal net operating loss carry-forwards expire at various dates through 2030. The state of net operating loss carry-forwards will begin to expire in 2026. The majority of the foreign net operating loss carryovers have an indefinite carry-forward in Germany. The Company has performed studies to determine if there are any annual limitations on the federal net operating losses under Section 382 of the Internal Revenue Code of 1986, as amended, or the Internal Revenue Code. As a result of these studies, the Company has determined that ownership changes have occurred primarily in connection with acquisitions when the Company has issued stock to the sellers, as well as ownership changes in the subsidiaries acquired by the Company. The benefits of the net operating losses that will expire before utilization have not been recorded as deferred tax assets in the accompanying Consolidated Balance Sheets. Limitations on current year use of net operating loss carryovers have also been recorded in the tax provision. The Company maintains liabilities for unrecognized tax benefits. These liabilities involve judgment and estimation, and they are monitored based on the best information available. A reconciliation of the beginning and ending amount of the consolidated liability for unrecognized income tax benefits during the fiscal years ended September 30, 2022, 2021 and 2020 is as follows (in thousands): Total Balance at September 30, 2019 $ 16,860 Additions for tax positions in current year 448 Reductions from lapses in statutes of limitations (586) Balance at September 30, 2020 16,722 Reductions from lapses in statutes of limitations (14,716) Balance at September 30, 2021 2,006 Reductions from lapses in statutes of limitations (327) Balance at September 30, 2022 $ 1,679 All of the unrecognized tax benefits for the fiscal year ended September 30, 2022 The Company is subject to U.S. federal, state, local and foreign income taxes in various jurisdictions. The amount of income taxes paid is subject to the Company’s interpretation of applicable tax laws in the jurisdictions in which it files. In the normal course of business, the Company is subject to income tax audits in various global jurisdictions in which it operates. The years subject to examination vary for the United States and international jurisdictions, with the earliest tax year being 2017. Based on the outcome of these examinations or the expiration of statutes of limitations for specific jurisdictions, it is reasonably possible that the related unrecognized tax benefits could change from those recorded in the Company’s Consolidated Balance Sheets. The Company currently anticipates that it is reasonably possible that the unrecognized tax benefits and accrued interest on those benefits will be reduced by $1.6 million in the next 12 months due to statute of limitations expirations. |
Derivative Instruments
Derivative Instruments | 12 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | 12. Derivative Instruments The Company has transactions and balances denominated in currencies other than the functional currency of the transacting entity. Most of these transactions carrying foreign exchange risk are in Germany, the United Kingdom and China. These transactions and balances, including short-term advances between the Company and its subsidiaries, subject the Company’s operations to exposure from exchange rate fluctuations. The impact of currency exchange rate movement can be positive or negative in any period. The Company mitigates the impact of potential currency transaction gains and losses on short-term intercompany advances through timely settlement of each transaction, generally within 30 days. The Company also enters into foreign exchange contracts to reduce its exposure to currency fluctuations. Under forward contract arrangements, the Company typically agrees to purchase a fixed amount of one currency in exchange for a fixed amount of another currency on specified dates with maturities of three months or less. These transactions do not qualify for hedge accounting. Net gains and losses related to these contracts are recorded as a component of "Other expenses, net" in the accompanying Consolidated Statements of Operations and are as follows for the fiscal years ended September 30, 2022, 2021 and 2020 (in thousands): Fiscal Year Ended September 30, 2022 2021 2020 Realized gains (losses) on derivatives not designated as hedging instruments $ 991 $ (7,781) $ (2,671) The fair value of derivative instruments are as follows at September 30, 2022 and 2021 (in thousands): Fair Value of Assets Fair Value of Liabilities As of September 30, 2022 2021 2022 2021 Derivatives not designated as hedging instruments Foreign exchange contracts $ 634 $ 153 $ (230) $ (165) Total $ 634 $ 153 $ (230) $ (165) The fair values of the forward contracts described above are recorded in the Company’s accompanying Consolidated Balance Sheets as "Prepaid expenses and other current assets" and "Accrued expenses and other current liabilities". Hedging Activities On February 1, 2022, the Company entered into a cross-currency swap agreement to hedge the variability of exchange rate impacts between the United States dollar and the Euro. Under the terms of the cross-currency swap agreement, the Company notionally exchanged approximately $1.03 billion for approximately €915 million at a weighted average interest rate of approximately 1.196%. The designated notional amount is $960 million and the actual interest rate is 1.283%. 1.283% was in the range of the market value for that day and is the true interest rate on the notional amount. This cross-currency swap agreement expires in February 2023. The Company has designated the cross-currency swap as a hedge of net investments against one of our Euro denominated subsidiaries which requires an exchange of the notional amounts at maturity. At the maturity of the cross currency-swap, the Company will deliver a notional amount of €852 million and receive a notional amount of $960 million at an exchange rate of 1.1261. This cross-currency swap is marked to market at each reporting period, representing the fair values of the cross-currency swap and any changes in fair value are recognized as a component of Accumulated other comprehensive items, net, on the Consolidated Statements of Comprehensive Income. Interest accrued on the cross-currency swap is recorded within interest income on the Consolidated Statements of Operations. For fiscal year ended September 30, 2022, the Company recorded a gain, net of tax of $93.0 million, to Accumulated other comprehensive income and recorded interest income of $8.2 million on this instrument. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
Stockholders' Equity | 13. Stockholders’ Equity Preferred Stock Total number of shares of preferred stock authorized for issuance was 1,000,000 shares at September 30, 2022 and 2021, respectively. Preferred stock has a par value of $0.01 per share and may be issued at the discretion of the Board of Directors without stockholder approval with such designations, rights and preferences as the Board of Directors may determine. There were no shares of preferred stock issued or outstanding at September 30, 2022 or 2021, respectively. Accumulated Other Comprehensive Income The following is a summary of the components of accumulated other comprehensive income, net of tax, at September 30, 2022, 2021 and 2020 (in thousands): Unrealized Gains (Losses) Unrealized Currency on Available- Gain on Pension Translation for-Sale Derivative asset Liability Adjustments Securities Net of tax Adjustments Total Balance at September 30, 2019 $ 4,184 (8) — (665) 3,511 Other comprehensive income (loss) before reclassifications 18,877 5 — (503) 18,379 Amounts reclassified from accumulated other comprehensive income — 2 — 27 29 Balance at September 30, 2020 23,061 (1) — (1,141) 21,919 Other comprehensive income (loss) before reclassifications (2,922) — — 333 (2,589) Amounts reclassified from accumulated other comprehensive income — — — 21 21 Balance at September 30, 2021 20,139 (1) $ — (787) 19,351 Other comprehensive income (loss) before reclassifications (169,266) (10,908) 93,020 412 (86,742) Amounts reclassified from accumulated other comprehensive income (16,567) — — 42 (16,525) Balance at September 30, 2022 $ (165,694) $ (10,909) $ 93,020 $ (333) $ (83,916) Unrealized net holding gains (losses) on available-for-sale marketable securities are reclassified from accumulated other comprehensive income into results of operations at the time of the securities’ sale, as described in Note 5, “Marketable Securities.” Gains (losses) related to defined benefit pension plan settlements are reclassified from accumulated other comprehensive income into results of operations at the time of the settlement. Defined benefit pension plan curtailments are recognized as reclassifications from accumulated other comprehensive income and corresponding reductions in pension liabilities and net pension cost. |
Equity Incentive Plans
Equity Incentive Plans | 12 Months Ended |
Sep. 30, 2022 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plans | 14. Equity Incentive Plans The Company’s equity incentive plans are intended to attract and retain employees and provide an incentive for them to contribute to the Company’s long-term growth and achievement of its long-range performance goals. The equity incentive plans consist of plans under which employees may be granted options to purchase shares of the Company’s stock, restricted stock and other equity incentives. Restricted stock awards generally have a three-year vesting period. At September 30, 2022, a total of 2,431,324 shares were reserved and available for future grant under the equity incentive plans. 2020 Equity Incentive Plan In accordance with the 2020 Equity Incentive Plan (the “2020 Plan”), the Company may grant (i) restricted stock and other stock-based awards, (ii) nonqualified stock options, and (iii) options intended to qualify as incentive stock options under Section 422 of the Internal Revenue Code. All employees of the Company or any affiliate of the Company, independent directors, consultants and advisors are eligible to participate in the 2020 Plan. The 2020 Plan provides for the issuance of an aggregate of 2,800,000 shares of common stock, including 2,500,000 shares reserved for issuance pursuant to the 2020 Plan, and up to 300,000 additional shares which may be issued pursuant to the 2020 Plan if outstanding awards granted under the 2000 Plan or the 2015 Plan are forfeited, expire or are cancelled. Restricted Stock Unit Activity The following table summarizes restricted stock unit activity for the fiscal year ended September 30, 2022: Weighted Average Grant-Date Shares Fair Value Outstanding at September 30, 2021 1,088,652 $ 47.35 Granted 249,685 99.62 Vested (555,513) 39.51 Forfeited (244,586) 64.31 Outstanding at September 30, 2022 538,238 71.99 The weighted average grant date fair value of restricted stock units granted during fiscal years 2022, 2021 and 2020 was $99.62, $71.97 and $46.52 per share, respectively. The fair value of restricted stock units vested during fiscal years 2022, 2021 and 2020 was $66.9 million, $28.4 million and $41.7 million, respectively. During fiscal years 2022, 2021 and 2020, the Company remitted $25.2 million, $9.8 million and $24.1 million, respectively, collected from employees to satisfy their tax obligations as a result of share issuances. As of September 30, 2022, the future unrecognized stock-based compensation expense related to restricted stock units expected to vest is $12.3 million and is expected to be recognized over an estimated weighted average amortization period of 1.4 years. The Company grants restricted stock units that vest over a required service period and /or achievement of certain operating performance goals. Restricted stock units granted with performance goals may also have a required service period following the achievement of all or a portion of the performance goals. The following table reflects restricted stock units and stock awards granted during fiscal years ended September 30, 2022, 2021 and 2020: Time-Based Stock Performance- Total Units Units Grants Based Units Year ended September 30, 2022 249,685 120,066 18,471 111,148 Year ended September 30, 2021 349,930 166,570 14,713 168,647 Year ended September 30, 2020 412,036 163,390 27,076 221,570 Among the total restricted stock units granted, 0, 98,783, and 119,978 shares, respectively, were granted to the employees who belong to the discontinued operations in the year ended September 30, 2022, 2021 and 2020. Subsequent to September 30, 2022, the Company cash settled stock-based awards for former employees that were conveyed with the sale of the semiconductor automation business. Time-Based Restricted Stock Unit Grants Restricted stock units granted with a required service period typically have three-year vesting schedules in which one one one Stock-Based Awards – Board of Directors The stock-based awards, granted to the members of the Company’s Board of Directors include stock awards, restricted stock awards and deferred stock and restricted stock units. Stock awards granted during fiscal years 2022, 2021 and 2020 were vested upon issuance. Certain members of the Board of Directors have elected to defer receiving their annual stock awards and related quarterly dividends until they attain a certain age or cease to provide services as a member of the Board of Directors. Annual deferred restricted stock units granted during fiscal years 2022, 2021 and 2020 vested upon issuance. Performance-Based Restricted Stock Unit Grants Performance-based restricted stock units are earned based on the achievement of performance criteria established by the Human Resources and Compensation Committee and approved by the Board of Directors. The criteria for performance-based awards are weighted and have threshold, target and maximum performance goals. Performance-based awards granted in fiscal year 2022, 2021 and 2020 allow participants to earn 100% of restricted stock units if the Company’s performance meets or exceeds its target goal for each applicable financial metric, and up to a maximum of 200% if the Company’s performance for such metrics meets the maximum or stretch goal. Performance below the minimum threshold for each financial metric results in award forfeiture. Performance goals will be measured over a three-year period for each year’s awards and at the end of the period to determine the number of units earned by recipients who continue to meet the service requirement. Around the third anniversary of each year’s awards’ grant date, the Company’s Board of Directors determines the number of units earned for participants who continue to meet the service requirements on the vest date. Employee Stock Purchase Plan The Company maintains an employee stock purchase plan that allows its employees to purchase shares of common stock at a price equal to 85% of the fair market value of the Company’s stock at the beginning or the end of the semi-annual period, whichever is lower. On February 8, 2017, the stockholders approved the 2017 Employee Stock Purchase Plan (the “2017 Plan”). The 2017 Plan allows for purchases by employees of up to 1,250,000 shares of the Company’s common stock. As of September 30, 2022, 670,136 shares of common stock remain available for purchase under the 2017 Plan. During the fiscal year ended September 30, 2022 and 2021, the Company issued 82,035 shares and 106,516 shares, respectively, under the 2017 Plan. |
Earnings per Share
Earnings per Share | 12 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Earnings per Share | 15. Earnings per Share The calculations of basic and diluted net income per share and basic and diluted weighted average shares outstanding are as follows for the fiscal years ended September 30, 2022, 2021 and 2020 (in thousands, except per share data): Year Ended September 30, 2022 2021 2020 Loss from continuing operations $ (11,286) $ (28,869) $ (26,362) Income from discontinued operations, net of tax 2,144,145 139,616 91,215 Net income 2,132,859 110,747 64,853 Weighted average common shares outstanding used in computing basic earnings per share 74,897 74,229 73,557 Dilutive restricted stock units — 226 293 Weighted average common shares outstanding used in computing diluted earnings per share 74,897 74,455 73,850 Basic net income per share: Loss from continuing operations $ (0.15) $ (0.39) $ (0.36) Income from discontinued operations, net of tax 28.63 1.88 1.24 Basic net income per share $ 28.48 $ 1.49 $ 0.88 Diluted net income per share: Loss from continuing operations $ (0.15) $ (0.39) $ (0.36) Income from discontinued operations, net of tax 28.63 1.88 1.24 Diluted net income per share $ 28.48 $ 1.49 $ 0.88 Restricted stock units of 64,122, 24,012 and 16,695, respectively, during fiscal year 2022, 2021 and 2020 were excluded from the computation of diluted earnings per share as their effect would be anti-dilutive based on the treasury stock method. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 12 Months Ended |
Sep. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contracts with Customers | 16. Revenue from Contracts with Customers Disaggregated Revenue The Company disaggregates revenue from contracts with customers in a manner that depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The following is revenue by significant business line for the fiscal years ended September 30, 2022, 2021 and 2020 (in thousands): Year ended September 30, 2022 2021 2020 Significant Business Line Life Sciences Products $ 199,230 $ 199,606 $ 129,759 Sample Repository Solutions 105,331 88,922 89,847 Genomic Services 250,937 225,175 168,931 Total $ 555,498 $ 513,703 $ 388,537 The Genomics Services and SRS values for 2021 have been adjusted for certain laboratory services that were classified from SRS into Genomics Services. Contract Balances Accounts Receivable, Net. Contract Assets. Contract Liabilities. Revenue recognized from the contract liability balance at was $13.9 million for the year ended September 30, 2022. Remaining Performance Obligations. As of September 30, 2022 Less than 1 Year Greater than 1 Year Total Remaining Performance Obligations $ 45,365 $ 34,844 $ 80,209 Cost to Obtain and Fulfill a Contract The Company capitalizes sales commissions when incurred if they are (i) incremental costs of obtaining a contract, (ii) expected to be recovered and (iii) have an expected amortization period that is greater than one year. As part of the Company’s cumulative effect adjustment upon the initial adoption of ASC 606, incremental costs associated with obtaining a contract were capitalized and have been classified as deferred commissions within the Company’s Consolidated Balance Sheet. These amounts primarily relate to sales commissions and are being amortized over a 60-month period, which represents the average period of contract performance. The Company capitalized $0.7 million of sales commissions during the fiscal year ended September 30, 2022. All other sales commissions incurred during the reporting period have been expensed as incurred. These costs are recorded within “Selling, general, and administrative” expenses on the Company’s Consolidated Statement of Operations. The Company accounts for shipping and handling activities as fulfillment activities and recognize the associated expense when control of the product has transferred to the customer. |
Significant Customers
Significant Customers | 12 Months Ended |
Sep. 30, 2022 | |
Risks and Uncertainties [Abstract] | |
Significant Customers | 17. Significant Customers The Company had no individual customer that accounted for more than 10% of its consolidated revenue for each of the fiscal years ended September 30, 2022, 2021 and 2020. There was no customer that accounted for more than 10% of the Company’s accounts receivable balance for each of the fiscal years ended September 30, 2022, 2021 and 2020. |
Segment and Geographic Informat
Segment and Geographic Information | 12 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Segment and Geographic Information | 18. Segment and Geographic Information Operating segments are defined as components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker in deciding how to allocate resources and to assess performance. The Company’s Chief Executive Officer is the Company’s chief operating decision maker. The Company operates in two reportable segments: the Life Sciences Products segment and the Life Sciences Services segment. These reportable segments also represent the Company’s operating segments. The Company previously operated in three reportable segments: the Semiconductor Solutions Group segment, the Life Sciences Products segment, and the Life Sciences Services segment. As discussed in Note 3, “Discontinued Operations”, our Semiconductor Solutions Group reportable segment has been classified as a discontinued operation. The sale of the semiconductor automation business, which comprised the Semiconductor Solutions Group segment, was completed on February 1, 2022. Historical information has been adjusted to reflect the new reportable segments. Within our Life Sciences Products segment, we have developed and continue to develop automated biological sample storage solutions for operating in low temperature environments. We have a complete line up of automated stores from ambient temperatures to -190°C. Our BioStore’s ™ unique design allows controlled temperature storage down to -80°C with the industry’s highest throughput of sample retrieval. Within our Life Sciences Services segment, our genomics services business advances research and development activities by gene sequencing, synthesis, editing and related services. We offer a comprehensive, global portfolio that we believe has both broad appeal in the life sciences industry and enables customers to select the best solution for their research challenges. This portfolio also offers unique solutions for key markets such as cell and gene therapy, antibody development, and biomarker discovery by addressing genomic complexity and throughput challenges. Our sample repository solutions business is a global leader in sample storage and management, and provides a full suite of reliable cold and ultra-cold chain solutions. The Company considers adjusted operating income, which excludes charges related to amortization of completed technology, restructuring related charges and other special charges, such as impairment losses, as the primary performance metric when evaluating the business. The following is the summary of the financial information for the Company’s reportable segments for the fiscal years ended September 30, 2022, 2021 and 2020 (in thousands): Year Ended September 30, 2022 2021 2020 Revenue: Life Sciences Products $ 199,230 $ 199,606 $ 129,759 Life Sciences Services 356,268 314,097 258,778 Total revenue $ 555,498 $ 513,703 $ 388,537 Operating income: Life Sciences Products $ 11,033 $ 23,094 $ (3,041) Life Sciences Services 10,784 22,659 2,859 Reportable segment adjusted operating income 21,817 45,753 (182) Amortization of completed technology 7,325 8,073 8,099 Restructuring related charges — 13,364 301 Amortization of acquired intangible assets 24,965 29,299 27,276 Restructuring charges 712 385 674 Other unallocated corporate expenses 13,550 25,721 68 Total operating income (24,735) (31,089) (36,600) Interest income 20,286 632 849 Interest expense (4,589) (2,037) (2,944) Loss on extinguishment of debt (632) — — Other expenses (266) (16,475) (1,597) Loss before income taxes $ (9,936) $ (48,969) $ (40,292) Assets: Life Sciences Products Life Sciences Services Total September 30, 2022 $ 378,790 $ 849,603 $ 1,228,393 September 30, 2021 278,769 780,238 1,059,007 The following is a reconciliation of the Company’s reportable segments’ segment assets to the amounts presented in the accompanying Consolidated Balance Sheets as of September 30, 2022 and 2021 (in thousands): September 30, September 30, 2022 2021 Segment assets $ 1,228,393 $ 1,059,007 Cash and cash equivalents, restricted cash, and marketable securities 2,305,081 244,012 Deferred tax assets 1,169 10,043 Other assets 181,479 11,237 Assets held for sale — 495,213 Total assets $ 3,716,122 $ 1,819,512 Revenue from external customers is attributed to geographic areas based on locations in which customer orders are placed. Net revenue by geographic area for the fiscal years ended September 30, 2022, 2021 and 2020 are as follows (in thousands): Year Ended September 30, 2022 2021 2020 Geographic Location: North America $ 373,611 $ 323,982 $ 256,174 Europe 104,824 108,805 74,155 China 48,094 45,743 34,016 Asia Pacific/ Other 28,969 35,173 24,192 Total $ 555,498 $ 513,703 $ 388,537 The majority of the Company’s net revenue in North America is generated in the United States which amounted to $370.6 million, $320.8 million and $253.5 million, respectively, during fiscal years ended September 30, 2022, 2021 and 2020. Property, plant and equipment by geographic area as of September 30, 2022 and 2021 are as follows (in thousands): September 30, 2022 2021 North America $ 84,852 $ 55,943 China 56,585 54,239 Europe 11,610 16,882 Asia / Pacific/ Other 1,423 3,655 $ 154,470 $ 130,719 Property, plant and equipment located in the United States amounted to $84.8 million and $60.6 million, respectively, at September 30, 2022 and 2021. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 19. Fair Value Measurements The fair value measurement guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following levels of inputs may be used to measure fair value: Level 1 Inputs: Level 2 Inputs: Level 3 Inputs: The Company measures certain assets, including the cost and equity method investments, at fair value on a nonrecurring basis when they are deemed to be other-than-temporarily impaired. The fair values of these investments are determined based on valuation techniques using the best information available, and may include quoted market prices, market comparables, and discounted cash flow projections. An impairment charge is recorded when the cost of the investment exceeds its fair value and this condition is determined to be other-than-temporary. Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables summarize assets and liabilities measured and recorded at fair value on a recurring basis in the accompanying Consolidated Balance Sheets as of September 30, 2022 and 2021 (in thousands): Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable September 30, Identical Assets Observable Inputs Inputs Description 2022 (Level 1) (Level 2) (Level 3) Assets: Cash equivalents $ 374,804 $ 374,055 $ 749 $ — Available-for-sale securities 1,263,782 651,800 611,982 — Foreign exchange contracts 634 — 634 — Net investment hedge 124,789 — 124,789 — Total assets $ 1,764,009 $ 1,025,855 $ 738,154 $ — Liabilities: Foreign exchange contracts 230 — 230 — Total liabilities $ 230 $ — $ 230 $ — Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable September 30, Identical Assets Observable Inputs Inputs Description 2021 (Level 1) (Level 2) (Level 3) Assets: Cash equivalents $ 21 $ 21 $ — $ — Available-for-sale securities 3,679 — 3,679 — Foreign exchange contracts 153 — 153 — Total assets $ 3,853 $ 21 $ 3,832 $ — Liabilities: Foreign exchange contracts 165 $ — 165 — Acquisition-related contingent consideration 9,400 — — 9,400 Total liabilities $ 9,565 $ — $ 165 $ 9,400 Cash Equivalents Cash equivalents consist of money market funds and are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets. We consider all highly liquid interest-earning investments with a maturity of three months or less at the date of purchase to be cash equivalents. The fair values of these investments approximate their carrying values. Available-For-Sale Securities Available-for-sale securities primarily consist of municipal securities, bank certificate of deposits and U.S. government backed securities, and as such are classified as Level 1. Investments classified as Level 2 consist of debt securities that are valued using matrix pricing and benchmarking because they are not actively traded. Matrix pricing is a mathematical technique used to value securities by relying on the securities’ relationship to other benchmark quoted prices. Foreign Exchange Contracts Foreign exchange contract assets and liabilities are measured and reported at fair value based on observable market inputs and classified within Level 2 of the fair value hierarchy due to a lack of an active market for these contracts. Net Investment Hedge Net investment hedge assets are measured and reported at fair value based on observable market inputs and classified within Level 2 of the fair value hierarchy due to a lack of an active market for these contracts. Acquisition-related Contingent Consideration Acquisition-related contingent consideration is measured and reported at fair value using the real options method based on the unobservable inputs that are significant to the fair value and classified with Level 3 of the fair value hierarchy. The amount is contingent based on the acquired business’ performance for the twelve-month period ending December 31, 2021. Please refer to Note 4, “Acquisitions” for further detail. Changes in the fair value of contingent consideration resulting from a change in the underlying inputs are recognized in results of operations until the arrangement is settled. Financial Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis During fiscal year 2022 and 2021, the Company did not record any material other-than-temporary impairments on financial assets required to be measured at fair value on a nonrecurring basis. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 20. Commitments and Contingencies Tariff Matter In fiscal year 2021, as part of the Company’s continued integration of GENEWIZ, which was acquired in November 2018, the Company initiated a review during first quarter of fiscal year 2021, with the assistance of a third-party consultant, of the transaction value that the Company has used to calculate tariffs on inter-company imports of samples shipped from its GENEWIZ business. As a result of the third-party review and in light of a new interpretation surrounding the valuation method used to calculate the estimated transaction value, the Company revised its estimate of the tariffs owed as a result and recorded a liability of $6.1 million in the second quarter of fiscal 2021. During the three months ended June 30, 2022 the Company submitted a payment in the amount of $5.9 million to the customs authorities related to November 2021 and prior periods. The customs authorities will review the Company’s calculation of tariffs for these periods and determine if any further tariffs are owed. As of September 30, 2022, the accrual for these tariffs was $2.8 million, related to normal business activity. The Company does not expect to incur any significant penalties associated with the tariffs. Purchase Commitments At September 30, 2022, the Company has non-cancelable commitments of $66.6 million, including purchase orders for inventory of $55.6 million, and information technology related commitments of $10.9 million. Contingencies The Company is subject to various legal proceedings, both asserted and unasserted, that arise in the ordinary course of business. The Company cannot predict the ultimate outcome of such legal proceedings or in certain instances provide reasonable ranges of potential losses. The Company may also have certain indemnification obligations pursuant to claims made under the definitive agreement it entered into with Edwards Vacuum LLC (a member of the Atlas Copco Group) in connection with the Company’s sale of its semiconductor cryogenics business in the fourth quarter of fiscal year 2018. However, as of the date of this report, the Company believes that none of these claims will have a material adverse effect on its consolidated financial position or results of operations. In the third quarter of fiscal year 2020, Edwards asserted claims for indemnification under the definitive agreement relating to alleged breaches of representations and warranties relating to customer warranty claims and inventory. under the definitive agreement, Edwards would be required to seek recovery under the representation and warranty insurance Edwards obtained in connection with the closing of the transaction. The Company believes that any indemnifiable losses in excess of the applicable deductibles and indemnification escrow established in the definitive agreement would be covered by such insurance. If Edwards is unable to obtain recovery under its insurance, however, it could seek recovery of such indemnifiable losses, if any, directly from the Company. In the event of unexpected subsequent developments and given the inherent unpredictability of these matters, there can be no assurance that the Company’s assessment of any claim will reflect the ultimate outcome, and an adverse outcome in certain matters could, from time to time, have a material adverse effect on the Company’s consolidated financial position or results of operations in particular quarterly or annual periods. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | 21. Subsequent Events Acquisition completed after fiscal year end On October 3, 2022, subsequent to our fiscal 2022 year end, the Company acquired B Medical Systems S.á r.l. and its subsidiaries ("B Medical"), a market leader in temperature-controlled storage and transportation solutions that enables the delivery of life-saving treatments to more than 150 countries worldwide. This acquisition complements the Company’s cold chain capabilities, adding differentiated solutions for reliable and traceable transport of temperature-sensitive specimens. The Company paid a total initial cash purchase price at closing of $422 million, as adjusted for cash acquired and other items pursuant to the Agreement. The Seller is eligible to earn up to approximately $50 million in contingent consideration based upon achievement of certain financial metrics by B Medical and its subsidiaries. In addition, the company paid down B Medical’s outstanding debt of $43.1 million prior to September 30, 2022, classified in prepaid assets, and recorded short term restricted cash of $381 million to complete the purchase on October 3, 2022. The Company is in the process of performing an allocation of the purchase price to individual assets and liabilities. Share Repurchase Program On September 29, 2015, our Board of Directors approved a share repurchase program for up to $50 million of our common stock, or the 2015 Repurchase Program. On November 4, 2022, our Board of Directors terminated date |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Principles of Consolidation and Basis of Presentation | Principles of Consolidation and Basis of Presentation The accompanying Consolidated Financial Statements include the accounts of the Company and its majority-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). All intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Significant estimates are associated with recording accounts receivable, inventories, goodwill, intangible assets other than goodwill, long-lived assets, derivative financial instruments, deferred income taxes, revenue over time, and stock-based compensation expense. The Company assesses the estimates on an ongoing basis and records changes in estimates in the period they occur and become known. Actual results could differ from these estimates. The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, including results of operations and financial condition, will depend on future developments that are highly uncertain. This includes results from new information that may emerge concerning COVID-19 and any actions taken to contain or treat COVID-19, as well as the economic impact on local, regional, national and international customers and markets. The Company has made estimates of the impact of COVID-19 within its financial statements and there may be changes to those estimates in future periods. |
Business Combinations | Business Combinations The Company accounts for business acquisitions using the purchase method of accounting, in accordance with which assets acquired and liabilities assumed are recorded at their respective fair values at the acquisition date. The fair value of the consideration paid, including contingent consideration, is assigned to the assets acquired and liabilities assumed based on their respective fair values. Goodwill represents the excess of the purchase price over the estimated fair values of the assets acquired and liabilities assumed. Significant judgment is used in determining fair values of assets acquired and liabilities assumed and contingent consideration, as well as intangibles and their estimated useful lives. Fair value and useful life determinations may be based on, among other factors, estimates of future expected cash flows and appropriate discount rates used in computing present values. These judgments may materially impact the estimates used in allocating acquisition date fair values to assets acquired and liabilities assumed, as well as our current and future operating results. Actual results may vary from these estimates that may result in adjustments to goodwill and acquisition date fair values of assets and liabilities during a measurement period or upon a final determination of asset and liability fair values, whichever occurs first. Adjustments to fair values of assets and liabilities made after the end of the measurement period are recorded within our operating results. Changes in the fair value of contingent consideration resulting from a change in the underlying inputs are recognized in results of operations until the arrangement is settled. |
Foreign Currency Translation | Foreign Currency Translation Certain transactions of the Company and its subsidiaries are denominated in currencies other than their functional currency. Foreign currency exchange gains (losses) generated from the settlement and remeasurement of these transactions are recognized in earnings and presented within “Other income (expenses), net” in the Company’s Consolidated Statements of Operations. Net foreign currency transaction and remeasurement losses totaled $1.7 million, $1.8 million and $3.4 million for the fiscal years ended September 30, 2022, 2021 and 2020, respectively. The determination of the functional currency of the Company’s subsidiaries is based on their financial and operational environment and is the local currency of all of the Company’s foreign subsidiaries. The subsidiaries’ assets and liabilities are translated into the reporting currency at period-end exchange rates, while revenue, expenses, gains and losses are translated at the average exchange rates during the period. Gains and losses from foreign currency translations are recorded in “Accumulated other comprehensive income” in the Company’s Consolidated Balance Sheets and presented as a component of comprehensive income in the Company’s Consolidated Statements of Comprehensive Income. The semiconductor automation business had foreign operations which had a cumulative translation adjustment balance of $16.6 million at the date of disposal of this business. This amount was removed from ‘Accumulated other comprehensive income” in the Company’s Consolidated Balance Sheet during the three months ended March 31, 2022, and included within the gain on the sale of the semiconductor automation business in “Income from discontinued operations, net of tax” in the Company’s Consolidated Statement of Operations. As a result, the Company presented a $16.6 million reclassification adjustment in “Accumulated other comprehensive income” in the Company’s Consolidated Balance Sheet at September 30, 2022. |
Derivative Financial Instruments | Derivative Financial Instruments The Company has transactions and balances denominated in currencies other than the functional currency of the transacting entity. Most of these transactions carry foreign exchange risk are in Germany, the United Kingdom and China. The Company enters into foreign exchange contracts to reduce its exposure to currency fluctuations. The arrangements typically mature in three months or less and they do not qualify for hedge accounting. Net gains and losses related to these contracts are recorded as a component of “Other income (expenses), net” in the accompanying Consolidated Statements of Operations and are as follows for the fiscal years ended September 30, 2022, 2021 and 2020 (in thousands): Fiscal Year Ended September 30, 2022 2021 2020 Realized gains (losses) on derivatives not designated as hedging instruments $ 991 $ (7,781) $ (2,671) The fair values of the forward contracts are recorded in the accompanying Consolidated Balance Sheets as “Prepaid expenses and other current assets” and “Accrued expenses and other current liabilities”. Foreign exchange contract assets and liabilities are measured and reported at fair value based on observable market inputs and classified within Level 2 of the fair value hierarchy described in fair value measurements in Footnote 19, due to a lack of an active market for these contracts. |
Hedging Activities | Hedging Activities On February 1, 2022, the Company entered into a cross-currency swap agreement to hedge the variability of exchange rate impacts between the United States dollar and the Euro. Under the terms of the cross-currency swap agreement, the Company notionally exchanged approximately $1.03 billion for approximately €915 million at a weighted average interest rate of approximately 1.196%. The designated notional amount is $960 million and the actual interest rate is 1.283%. 1.283% was in the range of the market value for that day and is the true interest rate on the notional amount. This cross-currency swap agreement expires in February 2023. The Company has designated the cross-currency swap as a hedge of net investments against one of our Euro denominated subsidiaries which requires an exchange of the notional amounts at maturity. At the maturity of the cross currency-swap, the Company will deliver a notional amount of €852 million and receive a notional amount of $960 million at an exchange rate of 1.1261. This cross-currency swap is marked to market at each reporting period, representing the fair values of the cross-currency swap and any changes in fair value are recognized as a component of “Accumulated other comprehensive items, net”, on the Consolidated Statements of Comprehensive Income. Interest accrued on the cross-currency swap is recorded within “Interest income” on the Consolidated Statements of Operations. For the fiscal year ended September 30, 2022, the Company recorded an unrealized gain in the derivative asset of $124.8 million, which is $93 million net of taxes, to “Accumulated other comprehensive income” and recorded “Interest income” of $8.2 million, on this instrument for fiscal year ended September 30, 2022. All derivatives, whether designated as a hedging relationship or not, are recorded in the Consolidated Balance Sheets at fair value. The accounting for changes in fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, the Company must designate the hedging instrument as a fair value hedge, cash flow hedge or a hedge of a net investment in a foreign operation based on the exposure being hedged. Certain derivatives held by the Company are not designated as hedges but are used in managing exposure to changes in foreign exchange rates. A fair value hedge is a derivative instrument designated for the purpose of hedging the exposure to changes in fair value of an asset or a liability resulting from a particular risk. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are both recognized in the results of operations and presented in the same caption in the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income. A cash flow hedge is a derivative instrument designated for the purpose of hedging the exposure to variability in future cash flows resulting from a particular risk. If the derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are recorded in accumulated other comprehensive income and recognized in the results of operations when the hedged item affects earnings. Ineffective portions of changes in the fair value of cash flow hedges are recognized in the results of operations. A hedge of a net investment in a foreign operation is achieved through a derivative instrument designated for the purpose of hedging the exposure of changes in value of investments in foreign subsidiaries. If the derivative is designated as a hedge of a net investment in a foreign operation, the effective portions of changes in the fair value of the derivative are recorded in other comprehensive income as a part of the foreign currency translation adjustment. Ineffective portions of net investment hedges are recognized in the results of operations. For derivative instruments not designated as hedging instruments, changes in fair value are recognized in the Consolidated Statements of Operations as gains or losses consistent with the classification of the underlying risk. |
Concentration of Credit Risk | Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash deposits and cash equivalents, marketable securities, derivative instruments and accounts receivable. All of the Company’s cash and cash equivalents, restricted cash, marketable securities and derivative instruments are maintained by major financial institutions. The Company invests cash not used in operations in investment grade, high credit quality securities in accordance with the Company’s investment policy which provides guidelines and limits regarding investments type, concentration, credit quality and maturity terms aimed at maintaining liquidity and reducing risk of capital loss. The Company regularly monitors the creditworthiness of its customers and believes that it has adequately provided for exposure to potential credit losses. The Company’s ten largest customers accounted for approximately 20%, 19% and 19% of its consolidated revenue for the fiscal years ended September 30, 2022, 2021 and 2020, respectively. No customers accounted for more than 10% of the Company’s consolidated revenue for fiscal years 2022, 2021 and 2020. |
Fair Value Measurements | Fair Value Measurements The Company measures certain financial assets and liabilities, including cash equivalents, available for sale securities, accounts receivable, accounts payable, and derivative instruments at fair value. FASB ASC 820, Fair Value Measurement and Disclosures, establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Available for sale securities and derivative instruments are measured at fair value based on quoted market prices or observable inputs other than quoted market prices for identical or similar assets or liabilities. The carrying amounts of cash equivalents, accounts receivable and accounts payable approximate their fair value due to their short-term nature. |
Cash and Cash Equivalents, and Restricted Cash | Cash and Cash Equivalents, and Restricted Cash Cash and cash equivalents consist of cash and highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash. At September 30, 2022 and 2021, cash equivalents were $374.8 million and $0.1 million, respectively. Cash equivalents are reported at fair value. The Company classifies long-term restricted cash balances within “Other assets” on the accompanying Consolidated Balance Sheets based upon the term of the remaining restrictions. |
Accounts Receivable, Allowance for Expected Credit Losses | Accounts Receivable, Allowance for Expected Credit Losses Trade accounts receivable do not bear interest and are recorded at the invoiced amount. The Company maintains an allowance for expected credit losses representing its best estimate of expected credit losses related to its existing accounts receivable and their net realizable value. The Company determines the allowance based on a number of factors, including an evaluation of customer credit worthiness, the age of the outstanding receivables, economic trends, historical experience, and other information over the payment periods. The Company reviews and adjusts the allowance for expected credit losses on a quarterly basis. Accounts receivable balances are written off against the allowance for expected credit losses when the Company determines that the balances are not recoverable. Provisions for expected credit losses are recorded in “Selling, general and administrative” expenses in the Consolidated Statements of Operations. The Company does not have any off-balance-sheet credit exposure related to its customers. |
Inventories | Inventories Inventories are stated at the lower of cost or net realizable value determined on a first-in, first-out basis and include the cost of materials, labor and manufacturing overhead. The Company reports inventories at their net realizable value and provides reserves for excess, obsolete or damaged inventory based on changes in customer demand, technology and other economic factors. |
Fixed Assets, Intangible Assets and Impairment of Long-lived Assets | Fixed Assets, Intangible Assets and Impairment of Long-lived Assets Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation expense is computed based on the straight-line method and charged to results of operations to allocate the cost of the assets over their estimated useful lives, as follows: Buildings 10 - 40 years Computer equipment and software 3 - 7 years Machinery and equipment 2 - 10 years Furniture and fixtures 3 - 10 years Leasehold improvements are amortized over the shorter of their estimated useful lives or the remaining terms of the respective leases. Equipment used for demonstrations to customers is included in machinery and equipment and depreciated over its estimated useful life. Repair and maintenance costs are expensed as incurred. The Company has developed software for internal use. Internal and external labor costs incurred during the application development stage of a project are capitalized. Costs incurred prior to application development and post implementation are expensed as incurred. Training and data conversion costs are expensed as incurred. As of September 30, 2022, and 2021, the Company had cumulative capitalized direct costs of $26.9 million and $22.7 million, respectively, associated with the development of software for its internal use. As of September 30, 2022, this balance included $8.6 million associated with software still in the development stage which are included within "Property, plant and equipment, net" in the accompanying Consolidated Balance Sheets. During fiscal year 2022, the Company capitalized direct costs of $4.2 million associated with the development of software for its internal use. Cost of disposed assets and the associated accumulated depreciation are derecognized upon their retirement or at the time of disposal, and the resulting gain or loss is included in the Company’s results of operations. The Company identified finite-lived intangible assets other than goodwill as a result of acquisitions. Finite-lived intangible assets are valued based on estimated future cash flows and amortized over their estimated useful lives based on methods that approximate the pattern in which the economic benefits are expected to be realized. Finite-lived intangibles assets and fixed assets are tested for impairment when indicators of impairment are present. For purposes of this test, long-lived assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. If the Company determines that indicators of potential impairment are present, it assesses the recoverability of long-lived asset group by comparing its undiscounted future cash flows to its carrying value. The future cash flow period is based on the future service life of the primary asset within the long-lived asset group. If the carrying value of the long-lived asset group exceeds its future cash flows, the Company determines fair values of the individual net assets within the long-lived asset group to assess potential impairment. If the aggregate fair values of the individual net assets of the group are less than their carrying values, an impairment loss is recognized for an amount in excess of the group’s aggregate carrying value over its fair value. The loss is allocated to the assets within the group based on their relative carrying values, with no asset reduced below its fair value. Finite-lived intangible assets are amortized over their useful lives, as follows: Trademarks 3 - 13 years Patents 7 years Completed technology 7 - 20 years Customer relationships 6 - 14 years |
Leases | Leases The Company has operating leases for real estate and non-real estate and finance leases for non-real estate. The classification of a lease as operating or finance and the determination of the right-of-use asset (“ROU asset”) and lease liability are determined at lease inception. The ROU asset represents the Company’s right to use an underlying asset for the lease term and the lease liability represents the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, an incremental borrowing rate is used based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. Lease expense is recognized on a straight-line basis over the lease term. The Company’s lease agreements may contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. Fixed payments for non-lease components are combined with lease payments and accounted for as a single lease component which increases the amount of the ROU asset and liability. The ROU asset for operating leases is included within Other assets and the ROU asset for finance leases is included within “Property, plant, and equipment, net’ on the Consolidated Balance Sheets. The short-term lease liabilities for both operating leases and finance leases are included within ‘Accrued expenses and other current liabilities” on the Consolidated Balance Sheets. The long-term lease liabilities for operating leases and finance leases are included within ‘Long-term operating lease liabilities”, and “Other long-term liabilities”, respectively, on the Consolidated Balance Sheets. |
Goodwill | Goodwill Goodwill represents the excess of purchase price over the fair value of net tangible and identifiable intangible assets of the businesses acquired by the Company. Goodwill is tested for impairment annually or more often if impairment indicators are present at the reporting unit level. The Company has elected April 1 st assessment date. If the existence of events or circumstances indicates that it is more likely than not that fair values of the reporting units are below their carrying values, the Company performs additional impairment tests during interim periods to evaluate goodwill for impairment. Application of the goodwill impairment test requires significant judgment based on market and operational conditions at the time of the evaluation, including management’s best estimate of future business activity and the related estimates of future cash flows from the assets and the reporting units that include the associated goodwill. These periodic evaluations could cause management to conclude that impairment factors exist, requiring an adjustment of these assets to their then-current fair market values. Future business conditions and/or activity could differ materially from the projections made by management which could result in additional adjustments and impairment charges. The goodwill impairment test is performed at the reporting unit level. A reporting unit is either an operating segment or one level below it, which is referred to as a “component”. The level at which the impairment test is performed requires an assessment of whether the operations below an operating segment constitute a self-sustaining business, in which case testing is generally performed at this level. In accordance with ASC 350, Intangibles- Goodwill and Other We determine fair values of our reporting units based on an income approach in accordance with the discounted cash flow method, or DCF Method. The DCF Method is based on projected future cash flows and terminal value estimates discounted to their present values. Terminal value represents a present value an investor would pay on the valuation date for the rights to the cash flows of the business for the years subsequent to the discrete cash flow projection period. We consider the DCF Method to be the most appropriate valuation technique since it is based on management’s long-term financial projections. In addition to determining the fair value of our reporting units based on the DCF Method, we also compare the aggregate values of our net corporate assets and reporting unit fair values to our overall market capitalization and use certain market-based valuation techniques to assess the reasonableness of the reporting unit fair values determined in accordance with the DCF Method. The key inputs used in the DCF Method include revenue growth rates, gross margin percentage, selling, general and administrative expense percentage and discount rates that are at or above our weighted-average cost of capital. We derive discount rates that are commensurate with the risks and uncertainties inherent in the respective reporting units and our internally developed projections of future cash flows. Application of the goodwill impairment test requires judgment based on market and operational conditions at the time of the evaluation, including management’s best estimates of the reporting unit’s future business activity and the related estimates and assumptions of future cash flows from the assets that include the associated goodwill. Different assumptions of revenue growth rates, gross margin percentage, selling, general and administrative expense percentage and the discount rate used in the DCF Method could result in different estimates of the reporting unit’s fair value as of each testing date. In the fourth quarter of 2022, the Company experienced a decline in its stock price resulting in the total market value of our shares of stock outstanding (our market capitalization), being less than the carrying value of its reporting units. Therefore, as of September 30, 2022, the Company assessed several events and circumstances that could affect the significant inputs used to determine the fair value of our reporting units, including the significance of the amount of excess fair value over carrying value, updates to operating margins and cash flows, and the overall change in the economic climate. The Company considered the decline in the market capitalization being less than the carrying value of its reporting units in its evaluation of goodwill impairment indicators and determined it appropriate to perform a quantitative assessment of both its reporting units as of September 30, 2022. The Company’s valuation was based on the DCF method described above. The Company concluded that there was no impairment In the event the financial performance of either of the two segments does not meet our expectations in the future, The Company experiences a prolonged macro or market downturn, or there are other negative revisions to key assumptions, in the DCF Method, the Company may be required to perform additional impairment analyses and could be required to recognize a non-cash impairment charge. |
Warranty Obligations | Warranty Obligations The Company offers warranties on the sales of certain of its products and records warranty obligations for estimated future claims at the time revenue is recognized. Warranty obligations are estimated based on historical experience and management’s estimate of the level of future claims. |
Revenue Recognition | Revenue Recognition The Company generates revenue from the following sources: ● Products, including sales of automated cold sample management systems, consumables, instruments, spare parts, and software. ● Services, including repairs, upgrades, diagnostic support, installation, as well as biological sample services such as DNA sequencing, gene synthesis, molecular biology, bioinformatics, biological sample storage, sample acquisition and other support services. The Company recognizes revenue for the transfer of such promised products or services to customers in an amount that reflects the consideration to which the Company expects to be entitled to in exchange for those products or services. Under ASC 606, Revenue from Contracts with Customers ● Identify the contract with a customer. Contracts are accounted for when approval and commitment has been received from both parties, the rights of each party are identified, payment terms are identified, the contract has commercial substance and collectability of the consideration to which the Company is entitled is probable. Contracts are generally evidenced through receipt of an approved purchase order or execution of a binding arrangement and can be both short and long-term. Long-term contracts within the segments relate to the sale of products with attached service-type warranty contracts that generally have a stated contract term that is greater than one year. Contracts may contain acceptance provisions where the Company is required to obtain technical acceptance from the customer upon completion of installation services and evidence of the system’s functional performance within the customer’s operating environment. The Company has concluded that acceptance criteria within its contracts can be objectively evaluated and will not impact the Company’s transfer of control assessment under ASC 606. ● Identify the performance obligations in the contract. Performance obligations include the sale of products and services. Certain customer arrangements related to the sale of automated cold sample management systems generally include more than one performance obligation and may include a combination of goods and or services, such as products with installation services or service-type warranty obligations. These contracts include multiple promises and as a result, the Company is required to evaluate each promise and determine whether the promise qualifies as a performance obligation within the contract. Contracts may contain the option to acquire additional products or services at defined prices. The Company reviews the pricing of these options to determine whether the option would exist independently of the current contract. If the pricing of contract options provides a material right to the customer that it would not receive without entering into the current contract, the Company accounts for the option as a separate performance obligation. ● Determine the transaction price. The transaction price of the Company’s contracts with its customer is generally fixed, based on the amounts to be contractually billed to the customer. Although uncommon, certain contracts may contain variable consideration in the form of customer allowances and rebates that consist primarily of retrospective volume-based discounts and other incentive programs. Variable consideration is estimated at contract inception and included in the transaction price if it is probable that a subsequent change in the estimate would not result in a significant revenue reversal. The period between transfer of control of the performance obligations within a customer contract and timing of payment is generally within one year. As a result, the Company’s contracts typically do not include significant financing components. ● Allocate the transaction price to the performance obligations in the contract. For customer contracts that contain more than one performance obligation, the Company allocates the total transaction consideration to each performance obligation based on the relative stand-alone selling price of each performance obligation within the contract. The Company relies on either observable standalone sales or an expected cost-plus margin approach to determine the standalone selling price of offerings, depending on the nature of the performance obligation. Performance obligations whose standalone selling price is estimated using an expected cost-plus margin approach relate to the sale of customized automated cold sample management systems, services, and service-type warranties. ● Recognize revenue when or as the Company satisfies a performance obligation . The Company satisfies its performance obligations by transferring a product or service either at a point in time or over time, when the transfer of control of the underlying performance obligation has occurred. Control is evidenced by the customer’s ability to direct the use of and obtain substantially all the remaining benefits from the performance obligation. Revenue from third-party sales for which the Company does not meet the criteria for gross revenue recognition is recognized on a net basis. All other revenue is recognized on a gross basis. The Company excludes from the transaction price all sales taxes assessed by governmental authorities and as a result, revenue is presented net of tax. As a result of applying this five-step model under ASC 606, the Company recognizes revenues from its sale of products and services as follows: ● Products: Revenue from the sale of standard products is recognized upon their transfer of control to the customer, which is considered complete at either the time of shipment or arrival at destination, based on the agreed upon terms within the contract. The Company’s payment terms for the sale of standard products are typically 30 to 60 days . Revenue from the sales of certain products that involve significant customization, which include primarily automated cold sample management systems is recognized over time as the asset created by the Company’s performance does not have alternative use to the Company and an enforceable right to payment for performance completed to date is present. The Company recognizes revenue as work progresses based on a percentage of actual labor hours incurred on the project to-date and total estimated labor hours expected to be incurred on the project. The selection of the method to measure progress towards completion requires judgment. The Company has concluded that using the percentage of labor hours incurred to estimated labor hours needed to complete the project most appropriately depicts the Company’s efforts towards satisfaction of the performance obligation. The Company develops profit estimates for long-term contracts based on total revenue expected to be generated from the project and total costs anticipated to be incurred in the project. These estimates are based on a number of factors, including the degree of required product customization and the work required to be able to install the product in the customer’s existing environment, as well as the Company’s historical experience, project plans and an assessment of the risks and uncertainties inherent in the contract related to implementation delays or performance issues that may or may not be within the Company’s control. The Company estimates a loss on a contract by comparing total estimated contract revenue to the total estimated contract costs and recognizes a loss during the period in which it becomes probable and can be reasonably estimated. The Company reviews profit estimates for long-term contracts during each reporting period and revises the estimate based on changes in circumstances. Revenue for certain arrangements that involve significant product customization but do not provide the Company with an enforceable right to payment for performance completed to date are recognized at a point in time, upon completion or substantial completion of the project, provided transfer of control has occurred. The project is considered substantially complete when the Company receives acceptance from the customer and remaining tasks are perfunctory or inconsequential and in control of the Company. Generally, the terms of long-term contracts provide for progress billings based on completion of milestones or other defined phases of work. In certain instances, payments collected from customers in advance of recognizing the related revenue are recorded and presented as contract liabilities within “Deferred revenue” on the Company’s Consolidated Balance Sheet. Additionally, due to certain billing constraints within contracts, the customer may retain a portion of the contract price until completion of the contract. In these contracts, an unbilled receivable is recorded when revenue recognized may exceed billings, which the Company presents as a contract asset on the balance sheet, which is included within the “Prepaid expenses and other current assets” on the Company’s Consolidated Balance Sheet. ● Services: Service revenue is generally recognized ratably over time or on an output method, as the customer simultaneously receives and consumes the benefit of these services as they are performed. Payments related to service-type warranties may be made up front or proportionally over the contract term. Revenue for sample management and storage are recognized over the period the services are rendered or samples are stored. Payment due or received from the customers prior to rendering the associated services are recorded as a contract liability. ● Genomic Services: The Company’s genomic services are professional services which includes Sanger sequencing, Next Generation sequencing, gene synthesis and gene editing-CRISPR based gene editing. Revenue from genomic services is recognized over time and is based upon the fact that transfer of control takes place over time as determined using the input method of costs incurred. |
Research and Development Expense | Research and Development Expense Research and development costs are expensed as incurred. Research and development costs consist primarily of personnel expenses related to development of new products, as well as enhancements and engineering changes to existing products and development of hardware and software components. |
Stock-Based Compensation Expense | Stock-Based Compensation Expense The Company measures stock-based compensation cost at fair value on the grant date and recognizes the expense over the service period for the awards expected to vest. The fair value of restricted stock units is determined based on the number of shares granted and the closing price of the Company’s common stock quoted on the Nasdaq Global Select Market on the date of grant. For awards that vest based on service conditions, the Company recognizes stock-based compensation expense on a straight-line basis over the requisite service period. For awards that vest subject to performance conditions, the Company recognizes stock-based compensation expense ratably over the performance period if it is probable that performance condition will be met and adjusted for the percentage of shares probable of achieving the performance goals. Each quarter, the Company assesses the probability of achieving the performance goals. Current estimates may differ from actual results and future changes in estimates. The Company makes estimates of stock award forfeitures and the number of awards expected to vest. The Company considers many factors in developing forfeiture estimates, including award types, employee classes and historical experience. The following table reflects stock-based compensation expense, excluding amounts related to discontinued operations, recorded during the fiscal years ended September 30, 2022, 2021 and 2020 (in thousands): Year Ended September 30, 2022 2021 2020 Restricted stock units $ 10,597 $ 18,923 $ 9,907 Employee stock purchase plan 1,846 1,128 744 Total stock-based compensation expense $ 12,443 $ 20,051 $ 10,651 |
Valuation Assumptions for an Employee Stock Purchase Plan | Valuation Assumptions for an Employee Stock Purchase Plan The fair value of shares issued under the employee stock purchase plan is estimated on the commencement date of each offering period using the Black-Scholes option-pricing model with the following weighted average assumptions for the fiscal years ended September 30, 2022, 2021 and 2020: Year Ended September 30, 2022 2021 2020 Risk-free interest rate 1.7 % 0.3 % 0.9 % Volatility 49 % 53 % 58 % Expected life 6 months 6 months 6 months Dividend yield — % 0.6 % 1.1 % The risk-free rate is based on the U.S. Treasury yield curve for notes with terms approximating the expected life of the shares granted. The expected stock price volatility is determined based on the Company’s historic stock prices over a period commensurate with the expected life of the shares granted. The expected life represents the weighted average period over which the shares are expected to be purchased. Dividend yields are projected based on the Company’s history of dividend declarations and management’s intention for future dividend declarations. |
Income Taxes | Income Taxes The Company records income taxes using the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, as well as operating loss and tax credit carryforwards. The Company’s Consolidated Financial Statements contain certain deferred tax assets that were recorded as a result of operating losses, as well as other temporary differences between financial and tax accounting. A valuation allowance is established against deferred tax assets if, based upon the evaluation of positive and negative evidence and the extent to which that evidence is objectively verifiable, it is more likely than not that some or all of the deferred tax assets will not be realized. Significant management judgment is required in determining the Company’s income tax provision, the Company’s deferred tax assets and liabilities and any valuation allowance recorded against those net deferred tax assets. The Company evaluates the weight of all available evidence to determine whether it is more likely than not that some portion or all of the net deferred income tax assets will not be realized. The calculation of the Company’s income tax liabilities involves consideration of uncertainties in the application of complex tax regulations. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon an audit conducted by taxing authorities, including resolution of related appeals or litigation processes, if any. If the Company determines that a tax position will more likely than not be sustained, the second step requires the Company to estimate and measure the tax benefit as the largest amount that is more likely than not to be realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as the Company must determine the probability of various possible outcomes. The Company re-evaluates these uncertain tax positions on a quarterly basis. This evaluation is based on factors, such as changes in facts or circumstances, tax law, new audit activity and effectively settled issues. Determining whether an uncertain tax position is effectively settled requires judgment. A change in recognition or measurement may result in the recognition of a tax benefit or an additional charge to the tax provision. |
Earnings Per Share | Earnings Per Share Basic income or loss per share is determined by dividing net income by the weighted average common shares outstanding during the period. Diluted income or loss per share is determined by dividing net income by diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of potential common shares. To the extent their effect is dilutive, employee equity awards and other commitments to be settled in common stock are included in the calculation of diluted income or loss per share based on the treasury stock method. Potential common shares are excluded from the calculation of dilutive weighted average shares outstanding if their effect would be anti-dilutive at the balance sheet date based on a treasury stock method or due to a net loss. |
Recently Issued and Adopted Accounting Pronouncements | Recently Issued Accounting Pronouncements In November 2021, the FASB issued Accounting Standards Update (“ASU”) 2021-10, Government Assistance (Topic 832) – Disclosures by Business Entities about Government Assistance . The amendment in this ASU requires disclosures to increase the transparency of transactions with a government accounted for by applying a grant or contribution accounting model by analogy, including (1) the types of transactions, (2) the accounting for those transactions, and (3) the effect of those transactions on an entity’s financial statements. This ASU is effective for annual periods beginning after December 15, 2021. The Company will adopt the provisions of this ASU in fiscal year 2023. The Company is evaluating the effect of adopting this new accounting guidance. Recently Adopted Accounting Pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . ASU 2021-08 requires an entity to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC 606. Under current GAAP, an acquirer generally recognizes such items at fair value on the acquisition date. The ASU is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted. The standard should be applied prospectively to business combinations occurring on or after the effective date of the amendments. The Company adopted the guidance during the first quarter of fiscal year 2022 . The impact of the adoption of this ASU is immaterial to the Company’s consolidated financial statements. In October 2020, the FASB issued “ASU” 2020-10, Codification Improvements . The amendments in this ASU represent changes to clarify certain ASCs, correct unintended application of guidance, or make minor improvements to certain ASCs that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. ASU 2020-10 is effective for annual periods beginning after December 15, 2020 and interim periods within those annual periods, with early adoption permitted. The amendments in this ASU should be applied retrospectively. This ASU did not affect the Company's consolidated financial statements or disclosures. The Company adopted the provisions of this ASU in the first quarter of fiscal 2022 . In March 2020, the FASB issued ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting . In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope. The ASUs provide temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates. The provisions of the ASUs are only available until December 31, 2022, when the reference rate replacement activity is expected to be completed. There is no significant accounting impact on the Company’s consolidated financial statements and related disclosures as a result of the adoption of this ASU. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740) , which removes certain exceptions to the general principles in ASC Topic 740, Income Taxes (“ASC Topic 740”), and improves consistent application of and simplifies GAAP for other areas of Topic 740 clarifying and amending existing guidance. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2020. The Company adopted the provisions of this ASU in the first quarter of fiscal 2022 . There is no significant accounting impact on the Company’s consolidated financial statements and related disclosures as a result of the adoption of this ASU. In August 2018, the FASB issued ASU 2018-14, Disclosure Framework — Changes to the Disclosure Requirements for Defined Benefit Plans , which amends ASC 715 to add, remove, and clarify disclosure requirements related to defined benefit pension and other postretirement plans. The amendments require additional disclosure for the weighted-average interest crediting rates, a narrative description of the reasons for significant gains and losses, and an explanation of any other significant changes in the benefit obligation or plan assets. The amendment removes disclosure requirements for accumulated other comprehensive income expected to be recognized over the next year, information about plan assets to be returned to the entity, and the effects of a one-percentage-point change on the assumed health care costs and the effect of this change in rates on service cost, interest cost, and the benefit obligation for postretirement health care benefits. The ASU is effective for fiscal years ending after December 15, 2020. Early adoption is permitted. The ASU does not amend the interim disclosure requirements of ASC 715-20. The Company adopted the provisions of this ASU in the first quarter of fiscal 2022 . There is no significant accounting impact on the Company’s consolidated financial statements and related disclosures as a result of the adoption of this ASU. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740) , which removes certain exceptions to the general principles in Topic 740 and improves consistent application of and simplifies GAAP for other areas of Topic 740 clarifying and amending existing guidance. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2020. Early adoption is permitted. The Company adopted the provisions of this ASU in the first quarter of fiscal 2022 . There is no significant accounting impact on the Company’s consolidated financial statements and related disclosures as a result of the adoption of this ASU. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Schedule of realized gains (losses) on derivatives not designated as hedging instruments | Fiscal Year Ended September 30, 2022 2021 2020 Realized gains (losses) on derivatives not designated as hedging instruments $ 991 $ (7,781) $ (2,671) Fiscal Year Ended September 30, 2022 2021 2020 Realized gains (losses) on derivatives not designated as hedging instruments $ 991 $ (7,781) $ (2,671) |
Schedule of property, plant and equipment | Buildings 10 - 40 years Computer equipment and software 3 - 7 years Machinery and equipment 2 - 10 years Furniture and fixtures 3 - 10 years September 30, 2022 2021 Buildings, land, and land use right $ 29,581 $ 4,987 Computer equipment and software 35,814 27,350 Machinery and equipment 90,700 77,217 Furniture and fixtures 5,806 2,516 Leasehold improvements 37,495 27,165 Capital projects in progress 36,644 52,435 Right-of-use Asset 2,476 2,252 238,516 193,922 Less: accumulated depreciation and amortization (84,046) (63,203) Property, plant and equipment, net $ 154,470 $ 130,719 |
Schedule of intangible assets | Trademarks 3 - 13 years Patents 7 years Completed technology 7 - 20 years Customer relationships 6 - 14 years September 30, 2022 September 30, 2021 Accumulated Net Book Accumulated Net Book Cost Amortization Value Cost Amortization Value Patents $ 1,225 $ 1,106 $ 119 $ 1,242 $ 1,002 $ 240 Completed technology 99,525 37,991 61,534 75,527 32,383 43,144 Trademarks and trade names 400 41 359 424 33 391 Non-competition agreements 681 439 242 681 249 432 Customer relationships 246,949 130,802 116,147 253,486 111,159 142,327 Other intangibles 202 202 — 246 246 — $ 348,982 $ 170,581 $ 178,401 $ 331,606 $ 145,072 $ 186,534 |
Schedule of stock-based compensation expense | Year Ended September 30, 2022 2021 2020 Restricted stock units $ 10,597 $ 18,923 $ 9,907 Employee stock purchase plan 1,846 1,128 744 Total stock-based compensation expense $ 12,443 $ 20,051 $ 10,651 |
Summary of valuation assumptions for an employee stock purchase plan | Year Ended September 30, 2022 2021 2020 Risk-free interest rate 1.7 % 0.3 % 0.9 % Volatility 49 % 53 % 58 % Expected life 6 months 6 months 6 months Dividend yield — % 0.6 % 1.1 % |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Schedule of discontinued operations | Year Ended September 30, 2022 2021 2020 Revenue Products $ 244,962 $ 624,358 $ 463,309 Services 19,468 55,698 45,427 Total revenue 264,430 680,056 $ 508,736 Cost of revenue Products 141,165 354,786 274,727 Services 11,159 29,750 26,134 Total cost of revenue 152,324 384,536 300,861 Gross profit 112,106 295,520 207,875 Operating expenses Research and development 18,486 48,647 41,245 Selling, general and administrative 30,622 70,634 50,881 Restructuring charges - 230 692 Total operating expenses 49,108 119,511 92,818 Operating income 62,998 176,009 115,057 Other income, net Gain on divestiture 2,561,820 133 207 Income before income taxes 2,624,818 176,142 115,264 Income tax provision 480,673 35,357 23,867 Net income from discontinued operations $ 2,144,145 $ 140,785 $ 91,397 Year Ended September 30, 2022 2021 2020 Depreciation and amortization $ - $ 8,472 $ 11,374 Capital expenditures 2,862 6,414 4,815 Stock-based compensation - 7,405 5,501 2021 Assets Cash and cash equivalents $ 45,000 Accounts receivable, net 142,256 Inventories 110,735 Other current assets 13,394 Total current assets of discontinued operation $ 311,385 Property, plant and equipment, net $ 32,058 Long-term deferred tax assets 3,167 Goodwill 81,477 Intangibles, net 44,468 Other assets 22,658 Total long-term assets of discontinued operation $ 183,828 Liabilities Accounts payable $ 68,074 Deferred revenue 7,141 Accrued warranty and retrofit costs 6,081 Accrued compensation and benefits 18,144 Accrued Income Taxes 11,702 Accrued expenses and other current liabilities 18,014 Total current liabilities of discontinued operation $ 129,156 Long-term tax reserves 2,356 Long-term deferred tax liabilities 6,548 Long-term pension liabilities 5,490 Long-term operating lease liabilities 15,425 Other long-term liabilities 2,625 Total long-term liabilities of discontinued operation $ 32,444 |
Marketable Securities (Tables)
Marketable Securities (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Amortized Cost and Fair Value, Including Accrued Interest Receivable and Unrealized Holding Gains (Losses) on Short-term and Long-term Marketable Securities | Gross Gross Amortized Unrealized Unrealized Cost Losses Gains Fair Value September 30, 2022: U.S. Treasury securities and obligations of U.S. government agencies $ 804,774 $ (6,163) $ 21 $ 798,632 Bank certificates of deposits 8,335 (158) 1 8,178 Corporate securities 406,270 (8,113) — 398,157 Municipal securities 59,043 (226) — 58,817 $ 1,278,422 $ (14,660) $ 22 $ 1,263,784 September 30, 2021: Bank certificates of deposits $ 30 $ — $ — $ 30 Corporate securities 3,624 — — 3,624 Municipal securities — — — — Other debt securities 25 — — 25 $ 3,679 $ — $ — $ 3,679 |
Fair Value of Marketable Securities by Contractual Maturity | Amortized Cost Fair Value Due in one year or less $ 914,706 $ 909,913 Due after one year through five years 360,930 351,085 Due after five years through ten years — — Due after ten years 2,786 2,786 Total marketable securities $ 1,278,422 $ 1,263,784 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property, plant and equipment | Buildings 10 - 40 years Computer equipment and software 3 - 7 years Machinery and equipment 2 - 10 years Furniture and fixtures 3 - 10 years September 30, 2022 2021 Buildings, land, and land use right $ 29,581 $ 4,987 Computer equipment and software 35,814 27,350 Machinery and equipment 90,700 77,217 Furniture and fixtures 5,806 2,516 Leasehold improvements 37,495 27,165 Capital projects in progress 36,644 52,435 Right-of-use Asset 2,476 2,252 238,516 193,922 Less: accumulated depreciation and amortization (84,046) (63,203) Property, plant and equipment, net $ 154,470 $ 130,719 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
Schedule of leases | Year Ended September 30, 2022 2021 Operating lease costs $ 9,396 $ 7,630 Finance lease costs: Amortization of assets 182 859 Interest on lease liabilities 5 39 Total finance lease costs 187 898 Variable lease costs 3 1,833 Short-term lease costs 1,411 199 Total lease costs $ 10,997 $ 10,560 September 30, 2022 September 30, 2021 Operating Leases: Operating lease right-of-use assets $ 54,059 $ 49,650 Accrued expenses and other current liabilities $ 6,924 $ 5,254 Long-term operating lease liabilities 49,227 45,088 Total operating lease liabilities $ 56,151 $ 50,342 Finance Leases: Property, plant and equipment, at cost $ 2,476 $ 2,252 Accumulated amortization (2,276) (2,105) Property, plant and equipment, net $ 200 $ 147 Accrued expenses and other current liabilities $ 96 $ 360 Other long-term liabilities 98 (10) Total finance lease liabilities $ 194 $ 350 Weighted average remaining lease term (in years): Operating leases 10.82 11.33 Finance leases 2.19 0.53 Weighted average discount rate: Operating leases 3.93 % 3.90 % Finance leases 1.29 % 4.87 % Year Ended September 30, 2022 2021 Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $ 7,977 $ 6,213 Operating cash flows from finance leases 5 41 Financing cash flows from finance leases 393 1,130 ROU assets obtained in exchange for lease liabilities: Operating leases $ 10,842 $ 31,944 |
Schedule of future lease payments of operating leases | Operating Leases Fiscal year ended September 30, 2023 $ 8,907 2024 7,648 2025 7,251 2026 6,275 2027 5,948 Thereafter 35,366 Total future lease payments 71,395 Less imputed interest (15,244) Total lease liability balance $ 56,151 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Components of Goodwill by Business Segment | Life Sciences Life Sciences Products Services Total Balance, at September 30, 2020 $ 103,278 $ 349,899 $ 453,177 Acquisitions and currency translation adjustments 6,860 9,319 16,179 Balance, at September 30, 2021 110,138 359,218 469,356 Acquisitions and currency translation adjustments 44,474 (207) 44,267 Balance, at September 30, 2022 $ 154,612 $ 359,011 $ 513,623 |
Schedule of intangible assets | Trademarks 3 - 13 years Patents 7 years Completed technology 7 - 20 years Customer relationships 6 - 14 years September 30, 2022 September 30, 2021 Accumulated Net Book Accumulated Net Book Cost Amortization Value Cost Amortization Value Patents $ 1,225 $ 1,106 $ 119 $ 1,242 $ 1,002 $ 240 Completed technology 99,525 37,991 61,534 75,527 32,383 43,144 Trademarks and trade names 400 41 359 424 33 391 Non-competition agreements 681 439 242 681 249 432 Customer relationships 246,949 130,802 116,147 253,486 111,159 142,327 Other intangibles 202 202 — 246 246 — $ 348,982 $ 170,581 $ 178,401 $ 331,606 $ 145,072 $ 186,534 |
Schedule of Future Amortization Expense | 2023 $ 30,837 2024 28,157 2025 24,071 2026 21,471 2027 16,955 Thereafter 56,910 $ 178,401 |
Supplementary Balance Sheet I_2
Supplementary Balance Sheet Information (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Accounts Receivable | September 30, 2022 2021 Accounts receivable $ 168,920 $ 124,195 Less allowance for expected credit losses (5,162) (4,318) Accounts receivable, net $ 163,758 $ 119,877 |
Allowance for Doubtful Accounts Activity | Balance at Reversals of Balance at Beginning of Bad Debt End of Description Period Provisions Expense Period 2022 Allowance for expected credit losses $ 4,318 $ 3,536 $ (2,692) $ 5,162 2021 Allowance for expected credit losses 7,146 3,445 (6,273) 4,318 2020 Allowance for expected credit losses 3,548 4,600 (1,002) 7,146 |
Summary of Inventories | September 30, 2022 2021 Inventories Raw materials and purchased parts $ 39,685 $ 27,644 Work-in-process 4,816 4,787 Finished goods 41,043 27,967 Total inventories $ 85,544 $ 60,398 Balance at Inventory Balance at Beginning of Disposals and End of Description Period Provisions Adjustments Period 2022 Reserves for excess and obsolete inventory $ 3,681 $ 1,752 $ (1,351) $ 4,082 2021 Reserves for excess and obsolete inventory 3,136 1,522 $ (977) 3,681 2020 Reserves for excess and obsolete inventory 3,157 1,515 (1,536) 3,136 |
Valuation Allowance for Deferred Tax Assets Activity | Balance at Balance at Beginning of Charged to Charged to End of Description Period Income Tax Benefit Other Accounts Period 2022 Valuation allowance for deferred tax assets $ 8,592 $ 1,337 $ (4,002) $ 5,927 2021 Valuation allowance for deferred tax assets 10,623 (3,247) $ 1,216 8,592 2020 Valuation allowance for deferred tax assets 12,843 (2,514) 294 10,623 |
Product Warranty and Retrofit Activity on Gross Basis | Amount Balance at September 30, 2019 $ 2,314 Accruals for warranties during the year 2,779 Costs incurred during the year (2,882) Balance at September 30, 2020 2,211 Accruals for warranties during the year 2,300 Costs incurred during the year (2,181) Balance at September 30, 2021 2,330 Adjustments for acquisitions 254 Accruals for warranties during the year 2,438 Costs incurred during the year (2,132) Balance at September 30, 2022 $ 2,890 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
Components of Income Tax Provision (Benefit) | Year Ended September 30, 2022 2021 2020 Current income tax provision (benefit): Federal $ (4,826) $ (14,247) $ 661 State 607 (867) 375 Foreign 4,627 15,484 3,721 Total current income tax provision 408 370 4,757 Deferred income tax provision (benefit): Federal (815) (11,469) (11,833) State (180) (2,283) (1,976) Foreign 1,937 (6,718) (4,878) Total deferred income tax provision (benefit) 942 (20,470) (18,687) Income tax provision (benefit) $ 1,350 $ (20,100) $ (13,930) |
Components of Income (Loss) Before Income Taxes and Equity in Earnings of Joint Ventures | Year Ended September 30, 2022 2021 2020 Domestic $ (39,392) $ (88,763) $ (48,932) Foreign 29,456 39,794 8,640 Income before income taxes $ (9,936) $ (48,969) $ (40,292) |
Differences between Income Tax Provision (benefit) and Income Taxes Computed using Applicable U.S. Statutory Federal Tax Rate | Year Ended September 30, 2022 2021 2020 Income tax benefit computed at federal statutory rate $ (2,086) $ (10,284) $ (8,461) State income taxes, net of federal benefit (776) (1,005) (1,557) Foreign income taxed at different rates (1,182) (2,594) (1,786) Impact of investments in subsidiaries — 7,128 289 Change in deferred tax asset valuation allowance 1,337 (3,247) (2,514) Impact of change in uncertain tax positions (358) (10,607) 1,144 Global intangible low taxed income, net of foreign tax credits 4,060 4,051 2,815 Impact of tax rate changes 1,531 165 (185) Compensation (1,199) 462 (2,302) Tax credits (2,102) (4,050) (676) Merger costs 1,629 20 37 Other non-deductible expenses 717 468 398 Other true-ups 763 — (520) Research and development expense deduction (910) (730) (547) Other (74) 123 (65) Income tax provision (benefit) $ 1,350 $ (20,100) $ (13,930) |
Significant Components of Net Deferred Tax Assets and Liabilities | September 30, 2022 2021 Accruals and reserves not currently deductible $ 9,704 $ 17,272 Federal, state and foreign tax credits — 4,350 Other assets 14 502 Equity compensation 3,508 5,872 Net operating loss carryforwards 7,397 9,693 Lease liabilities 14,700 12,958 Mergers and acquisitions — 7,239 Deferred revenue 3,609 3,258 Inventory reserves and valuation 1,081 6,946 Deferred tax assets 40,013 68,090 Depreciation and intangible amortization (56,856) (50,181) Right-of-use assets (14,146) (12,683) Other liabilities (402) (1,883) Net unrealized loss (27,144) — Deferred tax liabilities (98,548) (64,747) Valuation allowance (5,927) (8,592) Net deferred tax asset (liability) $ (64,462) $ (5,249) |
Reconciliation of Beginning and Ending Amount of Consolidated Liability for Unrecognized Income Tax Benefits | Total Balance at September 30, 2019 $ 16,860 Additions for tax positions in current year 448 Reductions from lapses in statutes of limitations (586) Balance at September 30, 2020 16,722 Reductions from lapses in statutes of limitations (14,716) Balance at September 30, 2021 2,006 Reductions from lapses in statutes of limitations (327) Balance at September 30, 2022 $ 1,679 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of realized gains (losses) on derivatives not designated as hedging instruments | Fiscal Year Ended September 30, 2022 2021 2020 Realized gains (losses) on derivatives not designated as hedging instruments $ 991 $ (7,781) $ (2,671) Fiscal Year Ended September 30, 2022 2021 2020 Realized gains (losses) on derivatives not designated as hedging instruments $ 991 $ (7,781) $ (2,671) |
Schedule of fair value of derivative instruments | Fair Value of Assets Fair Value of Liabilities As of September 30, 2022 2021 2022 2021 Derivatives not designated as hedging instruments Foreign exchange contracts $ 634 $ 153 $ (230) $ (165) Total $ 634 $ 153 $ (230) $ (165) |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income | Unrealized Gains (Losses) Unrealized Currency on Available- Gain on Pension Translation for-Sale Derivative asset Liability Adjustments Securities Net of tax Adjustments Total Balance at September 30, 2019 $ 4,184 (8) — (665) 3,511 Other comprehensive income (loss) before reclassifications 18,877 5 — (503) 18,379 Amounts reclassified from accumulated other comprehensive income — 2 — 27 29 Balance at September 30, 2020 23,061 (1) — (1,141) 21,919 Other comprehensive income (loss) before reclassifications (2,922) — — 333 (2,589) Amounts reclassified from accumulated other comprehensive income — — — 21 21 Balance at September 30, 2021 20,139 (1) $ — (787) 19,351 Other comprehensive income (loss) before reclassifications (169,266) (10,908) 93,020 412 (86,742) Amounts reclassified from accumulated other comprehensive income (16,567) — — 42 (16,525) Balance at September 30, 2022 $ (165,694) $ (10,909) $ 93,020 $ (333) $ (83,916) |
Equity Incentive Plans (Tables)
Equity Incentive Plans (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Restricted Stock Unit Activity | Weighted Average Grant-Date Shares Fair Value Outstanding at September 30, 2021 1,088,652 $ 47.35 Granted 249,685 99.62 Vested (555,513) 39.51 Forfeited (244,586) 64.31 Outstanding at September 30, 2022 538,238 71.99 Time-Based Stock Performance- Total Units Units Grants Based Units Year ended September 30, 2022 249,685 120,066 18,471 111,148 Year ended September 30, 2021 349,930 166,570 14,713 168,647 Year ended September 30, 2020 412,036 163,390 27,076 221,570 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Reconciliation of Weighted Average Common Shares Outstanding for Purposes of Calculating Basic and Diluted Earnings Per Share | Year Ended September 30, 2022 2021 2020 Loss from continuing operations $ (11,286) $ (28,869) $ (26,362) Income from discontinued operations, net of tax 2,144,145 139,616 91,215 Net income 2,132,859 110,747 64,853 Weighted average common shares outstanding used in computing basic earnings per share 74,897 74,229 73,557 Dilutive restricted stock units — 226 293 Weighted average common shares outstanding used in computing diluted earnings per share 74,897 74,455 73,850 Basic net income per share: Loss from continuing operations $ (0.15) $ (0.39) $ (0.36) Income from discontinued operations, net of tax 28.63 1.88 1.24 Basic net income per share $ 28.48 $ 1.49 $ 0.88 Diluted net income per share: Loss from continuing operations $ (0.15) $ (0.39) $ (0.36) Income from discontinued operations, net of tax 28.63 1.88 1.24 Diluted net income per share $ 28.48 $ 1.49 $ 0.88 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue by Reporting Unit | Year ended September 30, 2022 2021 2020 Significant Business Line Life Sciences Products $ 199,230 $ 199,606 $ 129,759 Sample Repository Solutions 105,331 88,922 89,847 Genomic Services 250,937 225,175 168,931 Total $ 555,498 $ 513,703 $ 388,537 |
Remaining Performance Obligations | As of September 30, 2022 Less than 1 Year Greater than 1 Year Total Remaining Performance Obligations $ 45,365 $ 34,844 $ 80,209 |
Segment and Geographic Inform_2
Segment and Geographic Information (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Financial Information for Business Segments | Year Ended September 30, 2022 2021 2020 Revenue: Life Sciences Products $ 199,230 $ 199,606 $ 129,759 Life Sciences Services 356,268 314,097 258,778 Total revenue $ 555,498 $ 513,703 $ 388,537 Operating income: Life Sciences Products $ 11,033 $ 23,094 $ (3,041) Life Sciences Services 10,784 22,659 2,859 Reportable segment adjusted operating income 21,817 45,753 (182) Amortization of completed technology 7,325 8,073 8,099 Restructuring related charges — 13,364 301 Amortization of acquired intangible assets 24,965 29,299 27,276 Restructuring charges 712 385 674 Other unallocated corporate expenses 13,550 25,721 68 Total operating income (24,735) (31,089) (36,600) Interest income 20,286 632 849 Interest expense (4,589) (2,037) (2,944) Loss on extinguishment of debt (632) — — Other expenses (266) (16,475) (1,597) Loss before income taxes $ (9,936) $ (48,969) $ (40,292) Assets: Life Sciences Products Life Sciences Services Total September 30, 2022 $ 378,790 $ 849,603 $ 1,228,393 September 30, 2021 278,769 780,238 1,059,007 |
Reconciliation of Reportable Segment Assets to Corresponding Consolidated Amounts | September 30, September 30, 2022 2021 Segment assets $ 1,228,393 $ 1,059,007 Cash and cash equivalents, restricted cash, and marketable securities 2,305,081 244,012 Deferred tax assets 1,169 10,043 Other assets 181,479 11,237 Assets held for sale — 495,213 Total assets $ 3,716,122 $ 1,819,512 |
Revenue from External Customers Attributed to Geographic Areas | Year Ended September 30, 2022 2021 2020 Geographic Location: North America $ 373,611 $ 323,982 $ 256,174 Europe 104,824 108,805 74,155 China 48,094 45,743 34,016 Asia Pacific/ Other 28,969 35,173 24,192 Total $ 555,498 $ 513,703 $ 388,537 |
Long-Lived Assets, Consisting of Property, Plant and Equipment by Geographic Area | September 30, 2022 2021 North America $ 84,852 $ 55,943 China 56,585 54,239 Europe 11,610 16,882 Asia / Pacific/ Other 1,423 3,655 $ 154,470 $ 130,719 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable September 30, Identical Assets Observable Inputs Inputs Description 2022 (Level 1) (Level 2) (Level 3) Assets: Cash equivalents $ 374,804 $ 374,055 $ 749 $ — Available-for-sale securities 1,263,782 651,800 611,982 — Foreign exchange contracts 634 — 634 — Net investment hedge 124,789 — 124,789 — Total assets $ 1,764,009 $ 1,025,855 $ 738,154 $ — Liabilities: Foreign exchange contracts 230 — 230 — Total liabilities $ 230 $ — $ 230 $ — Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable September 30, Identical Assets Observable Inputs Inputs Description 2021 (Level 1) (Level 2) (Level 3) Assets: Cash equivalents $ 21 $ 21 $ — $ — Available-for-sale securities 3,679 — 3,679 — Foreign exchange contracts 153 — 153 — Total assets $ 3,853 $ 21 $ 3,832 $ — Liabilities: Foreign exchange contracts 165 $ — 165 — Acquisition-related contingent consideration 9,400 — — 9,400 Total liabilities $ 9,565 $ — $ 165 $ 9,400 |
Nature of Operation (Details)
Nature of Operation (Details) $ in Billions | Feb. 01, 2022 USD ($) |
Discontinued Operations, Disposed of by Sale | Semiconductor Automation Business | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Proceeds from divestiture | $ 2.9 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Foreign Currency Translation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Foreign Currency Transaction Gain (Loss), before Tax [Abstract] | |||
Foreign currency transaction and remeasurement gains (losses) | $ 1,700 | $ 1,800 | $ 3,400 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax [Abstract] | |||
Foreign currency translation reclassification adjustments included in income from discontinued operation | $ 16,567 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Derivative Financial Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | |||
Realized gains (losses) on derivatives not designated as hedging instruments | $ 991 | $ (7,781) | $ (2,671) |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Hedging Activities (Details) $ in Thousands, € in Millions | 12 Months Ended | ||||||
Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2020 USD ($) | Sep. 30, 2022 EUR (€) | Feb. 23, 2022 USD ($) | Feb. 01, 2022 USD ($) | Feb. 01, 2022 EUR (€) | |
Derivative [Line Items] | |||||||
Unrealized gain on derivative asset, net of tax effects | $ 93,020 | ||||||
Interest income | 20,286 | $ 632 | $ 849 | ||||
Foreign Exchange Contract [Member] | Designated as Hedging Instrument | |||||||
Derivative [Line Items] | |||||||
Unrealized gain on derivative asset, net of tax effects | 93,000 | ||||||
Currency Swap | Designated as Hedging Instrument | |||||||
Derivative [Line Items] | |||||||
Derivative, notional amount, cross-currency swap, exchanged | $ 1,030,000 | ||||||
Derivative, notional amount, cross-currency swap, received | € | € 915 | ||||||
Derivative, notional amount | $ 960,000 | ||||||
Derivative, fixed interest rate (as a percent) | 1.283% | 1.283% | |||||
Derivative, notional amount, cross-currency swap, maturity, deliver | € | € 852 | ||||||
Derivative, notional amount, cross-currency swap, maturity, receive | $ 960,000 | ||||||
Derivative, forward exchange rate | 1.1261 | ||||||
Gain to accumulated other comprehensive income | 124,800 | ||||||
Unrealized gain on derivative asset, net of tax effects | 93,000 | ||||||
Interest income | $ 8,200 | ||||||
Currency Swap | Designated as Hedging Instrument | Weighted Average | |||||||
Derivative [Line Items] | |||||||
Derivative, variable interest rate | 1.196% | 1.196% |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenue from Contract with Customer Benchmark | Customer Concentration Risk | Top Ten Largest Customers | |||
Concentration Risk [Line Items] | |||
Concentration risk (as a percent) | 20% | 19% | 19% |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Cash and Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Cash Equivalents, at Carrying Value [Abstract] | ||
Cash equivalents | $ 374.8 | $ 0.1 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) | 12 Months Ended |
Sep. 30, 2022 | |
Buildings | Minimum | |
Property, Plant and Equipment [Line Items] | |
Useful life of property plant and equipment | 10 years |
Buildings | Maximum | |
Property, Plant and Equipment [Line Items] | |
Useful life of property plant and equipment | 40 years |
Computer Equipment and Capitalized Software | Minimum | |
Property, Plant and Equipment [Line Items] | |
Useful life of property plant and equipment | 3 years |
Computer Equipment and Capitalized Software | Maximum | |
Property, Plant and Equipment [Line Items] | |
Useful life of property plant and equipment | 7 years |
Machinery and Equipment | Minimum | |
Property, Plant and Equipment [Line Items] | |
Useful life of property plant and equipment | 2 years |
Machinery and Equipment | Maximum | |
Property, Plant and Equipment [Line Items] | |
Useful life of property plant and equipment | 10 years |
Furniture and Fixtures | Minimum | |
Property, Plant and Equipment [Line Items] | |
Useful life of property plant and equipment | 3 years |
Furniture and Fixtures | Maximum | |
Property, Plant and Equipment [Line Items] | |
Useful life of property plant and equipment | 10 years |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Capitalized Direct Costs (Details) - USD ($) $ in Millions | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Property, Plant and Equipment, Gross [Abstract] | ||
Capitalized computer software, gross | $ 26.9 | $ 22.7 |
Software Development | ||
Property, Plant and Equipment, Gross [Abstract] | ||
Capitalized computer software, gross | 8.6 | |
Capitalized computer software costs | $ 4.2 |
Summary of Significant Accou_11
Summary of Significant Accounting Policies - Finite-lived Intangible Assets (Details) | 12 Months Ended |
Sep. 30, 2022 | |
Trademarks | Minimum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortizable lives | 3 years |
Trademarks | Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortizable lives | 13 years |
Patents | |
Finite-Lived Intangible Assets [Line Items] | |
Amortizable lives | 7 years |
Completed Technology | Minimum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortizable lives | 7 years |
Completed Technology | Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortizable lives | 20 years |
Customer Relationships | Minimum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortizable lives | 6 years |
Customer Relationships | Maximum | |
Finite-Lived Intangible Assets [Line Items] | |
Amortizable lives | 14 years |
Summary of Significant Accou_12
Summary of Significant Accounting Policies - Goodwill (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 USD ($) | Sep. 30, 2022 USD ($) segment | Sep. 30, 2021 segment | Sep. 30, 2020 segment | |
Goodwill [Line Items] | ||||
Number of reportable segments | segment | 2 | 2 | 2 | |
Life Sciences Products | ||||
Goodwill [Line Items] | ||||
Impairment | $ 0 | $ 0 | ||
Life Sciences Services | ||||
Goodwill [Line Items] | ||||
Impairment | $ 0 | $ 0 |
Summary of Significant Accou_13
Summary of Significant Accounting Policies - Payment Terms (Details) | 12 Months Ended |
Sep. 30, 2022 | |
Minimum | |
Disaggregation of Revenue [Line Items] | |
Payment period | 30 days |
Maximum | |
Disaggregation of Revenue [Line Items] | |
Payment period | 60 days |
Summary of Significant Accou_14
Summary of Significant Accounting Policies - Stock-Based Compensation Expense (Details) - Continuing Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation | $ 12,443 | $ 20,051 | $ 10,651 |
Restricted Stock Units (RSUs) | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation | 10,597 | 18,923 | 9,907 |
Employee Stock | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation | $ 1,846 | $ 1,128 | $ 744 |
Summary of Significant Accou_15
Summary of Significant Accounting Policies - Valuation Assumptions for Employee Stock Purchase Plan (Details) - Employee Stock | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | |||
Risk-free interest rate (as a percent) | 1.70% | 0.30% | 0.90% |
Volatility (as a percent) | 49% | 53% | 58% |
Expected life | 6 months | 6 months | 6 months |
Dividend yield (as a percent) | 0.60% | 1.10% |
Summary of Significant Accou_16
Summary of Significant Accounting Policies - Recently Issued and Adopted Accounting Pronouncements (Details) | Sep. 30, 2022 |
Accounting Standards Update 2021-10 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adopted | false |
Accounting Standards Update 2021-08 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adopted | true |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Oct. 01, 2021 |
Change in Accounting Principle, Accounting Standards Update, Early Adoption | false |
Accounting Standards Update 2020-10 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adopted | true |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Oct. 01, 2021 |
Change in Accounting Principle, Accounting Standards Update, Early Adoption | false |
Accounting Standards Update 2020-04 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adopted | true |
Accounting Standards Update 2019-12 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adopted | true |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Oct. 01, 2021 |
Change in Accounting Principle, Accounting Standards Update, Early Adoption | false |
Accounting Standards Update 2018-14 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adopted | true |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Oct. 01, 2021 |
Change in Accounting Principle, Accounting Standards Update, Early Adoption | false |
Discontinued Operations - Gener
Discontinued Operations - General Information (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Feb. 01, 2022 USD ($) lease | Sep. 30, 2022 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2020 USD ($) | |
Thomas H. Lee Partners, L.P. | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Transition service agreement, term, low end of range | 3 months | ||||
Transition service agreement, term, high end of range | 24 months | ||||
Sale leaseback transaction, lease agreements, number | lease | 2 | ||||
Sale leaseback transaction, lease term | 24 months | ||||
Sale leaseback transaction, termination notice period | 90 days | ||||
Discontinued Operations, Disposed of by Sale | Semiconductor Automation Business | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Proceeds from divestiture | $ 2,900,000 | ||||
Gain on divestiture | $ 2,561,820 | $ 133 | $ 207 | ||
Liability related to retention and stock compensation for former employees of the Company that were conveyed with the transaction | $ 18,100 | ||||
Liability related to retention and stock compensation for former employees of the Company that were conveyed with the transaction, amount paid | $ 600 | ||||
Discontinued Operations, Disposed of by Sale | Semiconductor Cryogenics Business | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Working capital adjustment | $ (1,300) |
Discontinued Operations - Finan
Discontinued Operations - Financial Results (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||
Net income from discontinued operations | $ 2,144,145 | $ 139,616 | $ 91,215 |
Discontinued Operations, Disposed of by Sale | Semiconductor Automation Business | |||
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||
Total revenue | 264,430 | 680,056 | 508,736 |
Total cost of revenue | 152,324 | 384,536 | 300,861 |
Gross profit | 112,106 | 295,520 | 207,875 |
Research and development | 18,486 | 48,647 | 41,245 |
Selling, general and administrative | 30,622 | 70,634 | 50,881 |
Restructuring charges | 230 | 692 | |
Total operating expenses | 49,108 | 119,511 | 92,818 |
Operating income | 62,998 | 176,009 | 115,057 |
Gain on divestiture | 2,561,820 | 133 | 207 |
Income before income taxes | 2,624,818 | 176,142 | 115,264 |
Income tax provision | 480,673 | 35,357 | 23,867 |
Net income from discontinued operations | 2,144,145 | 140,785 | 91,397 |
Discontinued Operations, Disposed of by Sale | Semiconductor Automation Business | Products | |||
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||
Total revenue | 244,962 | 624,358 | 463,309 |
Total cost of revenue | 141,165 | 354,786 | 274,727 |
Discontinued Operations, Disposed of by Sale | Semiconductor Automation Business | Services | |||
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | |||
Total revenue | 19,468 | 55,698 | 45,427 |
Total cost of revenue | $ 11,159 | $ 29,750 | $ 26,134 |
Discontinued Operations - Non-c
Discontinued Operations - Non-cash Items and Capital Expenditures (Details) - Discontinued Operations, Disposed of by Sale - Semiconductor Automation Business - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Discontinued Operation, Alternative Cash Flow Information [Abstract] | |||
Depreciation and amortization | $ 8,472 | $ 11,374 | |
Capital expenditures | $ 2,862 | 6,414 | 4,815 |
Stock-based compensation | $ 7,405 | $ 5,501 |
Discontinued Operations - Asset
Discontinued Operations - Assets and Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Disposal Group, Including Discontinued Operation, Assets, Current [Abstract] | ||
Cash and cash equivalents | $ 45,000 | $ 45,000 |
Total current assets of discontinued operation | 311,385 | |
Disposal Group, Including Discontinued Operation, Assets, Noncurrent [Abstract] | ||
Total long-term assets of discontinued operation | 183,828 | |
Disposal Group, Including Discontinued Operation, Liabilities, Current [Abstract] | ||
Total current liabilities of discontinued operation | 128,939 | |
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent [Abstract] | ||
Total long-term liabilities of discontinued operation | 32,444 | |
Discontinued Operations, Held-for-sale | Semiconductor Automation Business | ||
Disposal Group, Including Discontinued Operation, Assets, Current [Abstract] | ||
Cash and cash equivalents | 45,000 | |
Accounts receivable, net | 142,256 | |
Inventories | 110,735 | |
Other current assets | 13,394 | |
Total current assets of discontinued operation | 311,385 | |
Disposal Group, Including Discontinued Operation, Assets, Noncurrent [Abstract] | ||
Property, plant and equipment, net | 32,058 | |
Long-term deferred tax assets | 3,167 | |
Goodwill | 81,477 | |
Intangibles, net | 44,468 | |
Other assets | 22,658 | |
Total long-term assets of discontinued operation | 183,828 | |
Disposal Group, Including Discontinued Operation, Liabilities, Current [Abstract] | ||
Accounts payable | 68,074 | |
Deferred revenue | 7,141 | |
Accrued warranty and retrofit costs | 6,081 | |
Accrued compensation and benefits | 18,144 | |
Accrued Income Taxes | 11,702 | |
Accrued expenses and other current liabilities | 18,014 | |
Total current liabilities of discontinued operation | 129,156 | |
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent [Abstract] | ||
Long-term tax reserves | 2,356 | |
Long-term deferred tax liabilities | 6,548 | |
Long-term pension liabilities | 5,490 | |
Long-term operating lease liabilities | 15,425 | |
Other long-term liabilities | 2,625 | |
Total long-term liabilities of discontinued operation | $ 32,444 |
Discontinued Operations - Acqui
Discontinued Operations - Acquisitions (Details) - USD ($) $ in Thousands | Apr. 29, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | ||||
Goodwill | $ 513,623 | $ 469,356 | $ 453,177 | |
Discontinued Operations, Held-for-sale | Semiconductor Automation Business | Precise Automation, Inc. | ||||
Business Acquisition, Date of Acquisition [Abstract] | ||||
Business acquisition, effective date of acquisition | Apr. 29, 2021 | |||
Business Combination, Consideration Transferred [Abstract] | ||||
Total purchase price | $ 69,800 | |||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | ||||
Goodwill | 33,100 | |||
Deferred tax liabilities | 6,200 | |||
Business Combination, Goodwill [Abstract] | ||||
Goodwill deductible for tax purposes | 0 | |||
Discontinued Operations, Held-for-sale | Semiconductor Automation Business | Precise Automation, Inc. | Completed Technology | ||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | ||||
Intangible assets | $ 38,700 | |||
Weighted average useful life of intangible assets | 11 years | |||
Discontinued Operations, Held-for-sale | Semiconductor Automation Business | Precise Automation, Inc. | Customer Relationships | ||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | ||||
Intangible assets | $ 2,500 | |||
Weighted average useful life of intangible assets | 11 years |
Acquisitions - General Informat
Acquisitions - General Information (Details) | Jul. 01, 2022 | Apr. 02, 2021 | Dec. 03, 2020 | Feb. 11, 2020 |
Barkey Holding GmbH and Subsidiaries | ||||
Business Acquisition, Date of Acquisition [Abstract] | ||||
Business Acquisition, Effective Date of Acquisition | Jul. 01, 2022 | |||
Abeyatech LLC | ||||
Business Acquisition, Date of Acquisition [Abstract] | ||||
Business Acquisition, Effective Date of Acquisition | Apr. 02, 2021 | |||
Trans-Hit Biomarkers | ||||
Business Acquisition, Date of Acquisition [Abstract] | ||||
Business Acquisition, Effective Date of Acquisition | Dec. 03, 2020 | |||
RURO, Inc. | ||||
Business Acquisition, Date of Acquisition [Abstract] | ||||
Business Acquisition, Effective Date of Acquisition | Feb. 11, 2020 |
Acquisitions - Purchase Conside
Acquisitions - Purchase Consideration (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||||
Jul. 01, 2022 | Apr. 02, 2021 | Dec. 03, 2020 | Feb. 11, 2020 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Business Acquisition [Line Items] | |||||||
Aggregate purchase price, net of cash acquired | $ 125,876 | $ 93,712 | $ 15,744 | ||||
Barkey Holding GmbH and Subsidiaries | |||||||
Business Acquisition [Line Items] | |||||||
Aggregate purchase price, net of cash acquired | $ 84,800 | ||||||
Abeyatech LLC | |||||||
Business Acquisition [Line Items] | |||||||
Cash payment | $ 9,900 | ||||||
Acquisition-related contingent consideration | $ 9,400 | ||||||
Trans-Hit Biomarkers | |||||||
Business Acquisition [Line Items] | |||||||
Total purchase price | $ 15,100 | ||||||
RURO, Inc. | |||||||
Business Acquisition [Line Items] | |||||||
Total purchase price | $ 15,200 |
Acquisitions - Contingent Consi
Acquisitions - Contingent Consideration Paid (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Sep. 30, 2022 | |
Business Acquisition [Line Items] | ||
Payment for contingent consideration related to acquisition, financing activities | $ 10,400 | |
Abeyatech LLC | ||
Business Acquisition [Line Items] | ||
Payment for contingent consideration related to acquisition, financing activities | $ 10,000 |
Acquisitions - Amounts of Asset
Acquisitions - Amounts of Assets and Liabilities at Fair Value as of Acquisition Date (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jul. 01, 2022 | Sep. 30, 2021 | Apr. 02, 2021 | Dec. 03, 2020 | Sep. 30, 2020 | Feb. 11, 2020 |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | |||||||
Goodwill | $ 513,623 | $ 469,356 | $ 453,177 | ||||
Barkey Holding GmbH and Subsidiaries | |||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | |||||||
Goodwill | $ 57,800 | ||||||
Deferred tax liabilities | 9,800 | ||||||
Barkey Holding GmbH and Subsidiaries | Customer Relationships | |||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | |||||||
Intangible assets | 3,000 | ||||||
Barkey Holding GmbH and Subsidiaries | Completed Technology | |||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | |||||||
Intangible assets | $ 29,000 | ||||||
Abeyatech LLC | |||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | |||||||
Goodwill | $ 4,400 | ||||||
Intangible assets | 11,900 | ||||||
Other assets and liabilities, net | $ 3,000 | ||||||
Trans-Hit Biomarkers | |||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | |||||||
Goodwill | $ 9,300 | ||||||
Intangible assets | 7,800 | ||||||
Deferred tax liabilities | $ 2,400 | ||||||
RURO, Inc. | |||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | |||||||
Accounts receivable | $ 600 | ||||||
Goodwill | 11,000 | ||||||
Liabilities | 2,700 | ||||||
RURO, Inc. | Customer Relationships | |||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | |||||||
Intangible assets | 2,900 | ||||||
RURO, Inc. | Completed Technology | |||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract] | |||||||
Intangible assets | $ 2,900 |
Acquisitions - Goodwill (Detail
Acquisitions - Goodwill (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jul. 01, 2022 | Sep. 30, 2021 | Apr. 02, 2021 | Dec. 03, 2020 | Sep. 30, 2020 | Feb. 11, 2020 |
Business Combination, Goodwill [Abstract] | |||||||
Goodwill | $ 513,623 | $ 469,356 | $ 453,177 | ||||
Life Sciences Services | |||||||
Business Combination, Goodwill [Abstract] | |||||||
Goodwill | $ 359,011 | $ 359,218 | $ 349,899 | ||||
Barkey Holding GmbH and Subsidiaries | |||||||
Business Combination, Goodwill [Abstract] | |||||||
Goodwill | $ 57,800 | ||||||
Goodwill deductible for tax purposes | $ 0 | ||||||
Abeyatech LLC | |||||||
Business Combination, Goodwill [Abstract] | |||||||
Goodwill | $ 4,400 | ||||||
Goodwill deductible for tax purposes | $ 4,400 | ||||||
Trans-Hit Biomarkers | |||||||
Business Combination, Goodwill [Abstract] | |||||||
Goodwill | $ 9,300 | ||||||
Trans-Hit Biomarkers | Life Sciences Services | |||||||
Business Combination, Goodwill [Abstract] | |||||||
Goodwill | 9,300 | ||||||
Goodwill deductible for tax purposes | $ 0 | ||||||
RURO, Inc. | |||||||
Business Combination, Goodwill [Abstract] | |||||||
Goodwill | $ 11,000 | ||||||
RURO, Inc. | Life Sciences Services | |||||||
Business Combination, Goodwill [Abstract] | |||||||
Goodwill | 11,000 | ||||||
Goodwill deductible for tax purposes | $ 0 |
Acquisitions - Intangible Asset
Acquisitions - Intangible Assets Acquired (Details) | Jul. 01, 2022 | Apr. 02, 2021 | Dec. 03, 2020 |
Barkey Holding GmbH and Subsidiaries | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted average useful life of intangible assets | 15 years | ||
Abeyatech LLC | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted average useful life of intangible assets | 12 years | ||
Trans-Hit Biomarkers | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted average useful life of intangible assets | 11 years |
Marketable Securities - General
Marketable Securities - General Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |||
Sales and maturities of marketable securities | $ 705,384 | $ 121 | $ 44,820 |
Marketable Securities - Summary
Marketable Securities - Summary of Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | $ 1,278,422 | $ 3,679 |
Gross Unrealized Losses | (14,660) | |
Gross Unrealized Gains | 22 | |
Fair Value | 1,263,784 | 3,679 |
U.S. Treasury securities and obligations of U.S. government agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 804,774 | |
Gross Unrealized Losses | (6,163) | |
Gross Unrealized Gains | 21 | |
Fair Value | 798,632 | |
Bank certificates of deposits | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 8,335 | 30 |
Gross Unrealized Losses | (158) | |
Gross Unrealized Gains | 1 | |
Fair Value | 8,178 | 30 |
Corporate securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 406,270 | 3,624 |
Gross Unrealized Losses | (8,113) | |
Fair Value | 398,157 | 3,624 |
Municipal securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 59,043 | |
Gross Unrealized Losses | (226) | |
Fair Value | $ 58,817 | |
Other debt securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 25 | |
Fair Value | $ 25 |
Marketable Securities - Fair Va
Marketable Securities - Fair Value of Marketable Securities by Contractual Maturity (Details) $ in Thousands | Sep. 30, 2022 USD ($) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost [Abstract] | |
Amortized cost, due in one year or less | $ 914,706 |
Amortized cost, due after one year through five years | 360,930 |
Amortized cost, due after ten years | 2,786 |
Amortized cost | 1,278,422 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value [Abstract] | |
Fair value, due in one year or less | 909,913 |
Fair value, due after one year through five years | 351,085 |
Fair value, due after ten years | 2,786 |
Fair value | $ 1,263,784 |
Property, Plant and Equipment -
Property, Plant and Equipment - Schedule (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Property, Plant and Equipment [Line Items] | ||
Right-of-use Asset | $ 2,476 | $ 2,252 |
Property, plant and equipment, at cost | 238,516 | 193,922 |
Accumulated amortization | (84,046) | (63,203) |
Property, plant and equipment, net | 154,470 | 130,719 |
Buildings, land, and land use right | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 29,581 | 4,987 |
Computer Equipment and Capitalized Software | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 35,814 | 27,350 |
Machinery and Equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 90,700 | 77,217 |
Furniture and Fixtures | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 5,806 | 2,516 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 37,495 | 27,165 |
Capital projects in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 36,644 | $ 52,435 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Depreciation Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $ 21.9 | $ 19.5 | $ 18.7 |
Property, Plant and Equipment_3
Property, Plant and Equipment - Expenditures Incurred but Not Yet Paid (Details) $ in Millions | 12 Months Ended |
Sep. 30, 2022 USD ($) | |
Property, Plant and Equipment [Abstract] | |
Purchases of property, plant and equipment included in accounts payable | $ 9.2 |
Leases - Lease Expense (Details
Leases - Lease Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Lease, Cost [Abstract] | ||
Operating lease costs | $ 9,396 | $ 7,630 |
Amortization of assets | 182 | 859 |
Interest on lease liabilities | 5 | 39 |
Total finance lease costs | 187 | 898 |
Variable lease cost | 3 | 1,833 |
Short-term lease costs | 1,411 | 199 |
Total lease costs | $ 10,997 | $ 10,560 |
Leases - Assets and Liabilities
Leases - Assets and Liabilities - Operating Leases (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Assets and Liabilities, Lessee [Abstract] | ||
Operating lease right-of-use assets | $ 54,059 | $ 49,650 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position | Other assets | Other assets |
Accrued expenses and other current liabilities | $ 6,924 | $ 5,254 |
Operating Lease, Liability, Current, Statement of Financial Position | Accrued expenses and other current liabilities | Accrued expenses and other current liabilities |
Long-term operating lease liabilities | $ 49,227 | $ 45,088 |
Total lease liability balance | $ 56,151 | $ 50,342 |
Leases - Assets and Liabiliti_2
Leases - Assets and Liabilities - Finance Leases (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Finance Lease, Right-of-Use Asset, after Accumulated Amortization [Abstract] | ||
Property, plant and equipment, at cost | $ 2,476 | $ 2,252 |
Accumulated amortization | (2,276) | (2,105) |
Property, plant and equipment, net | $ 200 | $ 147 |
Finance Lease, Right-of-Use Asset, Statement of Financial Position | Property, plant and equipment, net | Property, plant and equipment, net |
Finance Lease Liability [Abstract] | ||
Accrued expenses and other current liabilities | $ 96 | $ 360 |
Finance Lease, Liability, Current, Statement of Financial Position | Accrued expenses and other current liabilities | Accrued expenses and other current liabilities |
Other long-term liabilities, net | $ 98 | $ (10) |
Total finance lease liabilities | $ 194 | $ 350 |
Finance Lease, Liability, Statement of Financial Position | Other long-term liabilities, Accrued expenses and other current liabilities | Other long-term liabilities, Accrued expenses and other current liabilities |
Leases - Additional Information
Leases - Additional Information (Details) | Sep. 30, 2022 | Sep. 30, 2021 |
Leases [Abstract] | ||
Weighted average remaining lease term, operating leases | 10 years 9 months 25 days | 11 years 3 months 29 days |
Weighted average remaining lease term, finance leases | 2 years 2 months 8 days | 6 months 10 days |
Weighted average discount rate, operating leases (as a percent) | 3.93% | 3.90% |
Weighted average discount rate, finance leases (as a percent) | 1.29% | 4.87% |
Leases - Supplemental Cash Flow
Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Cash Flow, Operating Activities, Lessee [Abstract] | ||
Operating cash flows from operating leases | $ 7,977 | $ 6,213 |
Operating cash flows from finance leases | 5 | 41 |
Financing cash flows from finance leases | $ 393 | $ 1,130 |
Leases - Assets Obtained in Exc
Leases - Assets Obtained in Exchange for Lease Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Lessee Disclosure [Abstract] | ||
ROU assets obtained in exchange for lease liabilities, operating leases | $ 10,842 | $ 31,944 |
Leases - Future Lease Payments
Leases - Future Lease Payments (Details) $ in Thousands | Sep. 30, 2022 USD ($) |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | |
2023 | $ 8,907 |
2024 | 7,648 |
2025 | 7,251 |
2026 | 6,275 |
2027 | 5,948 |
Thereafter | 35,366 |
Total future lease payments | $ 71,395 |
Leases - Gross Difference (Deta
Leases - Gross Difference (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Operating Lease Liabilities, Gross Difference, Amount [Abstract] | ||
Total future lease payments | $ 71,395 | |
Less imputed interest | (15,244) | |
Total lease liability balance | $ 56,151 | $ 50,342 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Segment Information (Details) - segment | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Number of operating segments | 2 | 2 | 2 |
Number of reportable segments | 2 | 2 | 2 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Reporting Units (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 USD ($) | Sep. 30, 2022 USD ($) segment | Sep. 30, 2021 segment | Sep. 30, 2020 segment | |
Goodwill [Line Items] | ||||
Number of reportable units, previously operated | 3 | 3 | 3 | |
Number of reporting units | 2 | 2 | 2 | |
Life Sciences Products | ||||
Goodwill [Line Items] | ||||
Reporting unit, name of segment | Life Sciences Products | Life Sciences Products | Life Sciences Products | Life Sciences Products |
Impairment | $ | $ 0 | $ 0 | ||
Life Sciences Services | ||||
Goodwill [Line Items] | ||||
Reporting unit, name of segment | Life Sciences Services | Life Sciences Services | Life Sciences Services | Life Sciences Services |
Impairment | $ | $ 0 | $ 0 | ||
Life Sciences Products | ||||
Goodwill [Line Items] | ||||
Number of reportable units, previously operated | 1 | 1 | 1 | |
Number of reporting units | 1 | 1 | 1 | |
Life Sciences Services | ||||
Goodwill [Line Items] | ||||
Number of reportable units, previously operated | 2 | 2 | 2 | |
Number of reporting units | 1 | 1 | 1 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets - Goodwill Impairment Test (Details) $ in Thousands | 12 Months Ended |
Sep. 30, 2022 USD ($) | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill impairment | $ 0 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets - Goodwill Roll Forward - Tabular Disclosure (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Goodwill [Roll Forward] | ||
Goodwill, beginning balance | $ 469,356 | $ 453,177 |
Acquisitions and currency translation adjustments | 44,267 | 16,179 |
Goodwill, ending balance | 513,623 | 469,356 |
Life Sciences Products | ||
Goodwill [Roll Forward] | ||
Goodwill, beginning balance | 110,138 | 103,278 |
Acquisitions and currency translation adjustments | 44,474 | 6,860 |
Goodwill, ending balance | 154,612 | 110,138 |
Life Sciences Services | ||
Goodwill [Roll Forward] | ||
Goodwill, beginning balance | 359,218 | 349,899 |
Acquisitions and currency translation adjustments | (207) | 9,319 |
Goodwill, ending balance | $ 359,011 | $ 359,218 |
Goodwill and Intangible Asset_6
Goodwill and Intangible Assets - Goodwill Roll Forward - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Acquisitions and currency translation adjustments | $ 44,267 | $ 16,179 |
Acquisitions | 57,800 | |
Foreign currency translation adjustments | $ (13,500) |
Goodwill and Intangible Asset_7
Goodwill and Intangible Assets - Components of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Finite-Lived Intangible Assets [Line Items] | ||
Cost | $ 348,982 | $ 331,606 |
Accumulated Amortization | 170,581 | 145,072 |
Net Book Value | 178,401 | 186,534 |
Patents | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 1,225 | 1,242 |
Accumulated Amortization | 1,106 | 1,002 |
Net Book Value | 119 | 240 |
Completed Technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 99,525 | 75,527 |
Accumulated Amortization | 37,991 | 32,383 |
Net Book Value | 61,534 | 43,144 |
Trademarks and Trade Names | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 400 | 424 |
Accumulated Amortization | 41 | 33 |
Net Book Value | 359 | 391 |
Noncompete Agreements | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 681 | 681 |
Accumulated Amortization | 439 | 249 |
Net Book Value | 242 | 432 |
Customer Relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 246,949 | 253,486 |
Accumulated Amortization | 130,802 | 111,159 |
Net Book Value | 116,147 | 142,327 |
Other Intangible Assets | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 202 | 246 |
Accumulated Amortization | $ 202 | $ 246 |
Goodwill and Intangible Asset_8
Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization of intangible assets | $ 32.3 | $ 37.4 | $ 35.4 |
Goodwill and Intangible Asset_9
Goodwill and Intangible Assets - Estimated Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ||
2023 | $ 30,837 | |
2024 | 28,157 | |
2025 | 24,071 | |
2026 | 21,471 | |
2027 | 16,955 | |
Thereafter | 56,910 | |
Net Book Value | $ 178,401 | $ 186,534 |
Supplementary Balance Sheet I_3
Supplementary Balance Sheet Information - Summary of Account Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract] | ||
Accounts receivable | $ 168,920 | $ 124,195 |
Less allowance for expected credit losses | (5,162) | (4,318) |
Accounts receivable, net | $ 163,758 | $ 119,877 |
Supplementary Balance Sheet I_4
Supplementary Balance Sheet Information - Allowance for Expected Credit Losses Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |||
Balance at beginning of period | $ 4,318 | $ 7,146 | $ 3,548 |
Provisions | 3,536 | 3,445 | 4,600 |
Reversals of bad debt expense | (2,692) | (6,273) | (1,002) |
Balance at end of period | $ 5,162 | $ 4,318 | $ 7,146 |
Supplementary Balance Sheet I_5
Supplementary Balance Sheet Information - Summary of Inventories (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Raw materials and purchased parts | $ 39,685 | $ 27,644 |
Work-in-process | 4,816 | 4,787 |
Finished goods | 41,043 | 27,967 |
Inventory, net | $ 85,544 | $ 60,398 |
Supplementary Balance Sheet I_6
Supplementary Balance Sheet Information - Summary of Inventory Reserves (Details) - Reserve, Inventory - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Valuation Allowances and Reserves, Balance, Beginning Balance | $ 3,681 | $ 3,136 | $ 3,157 |
Provisions | 1,752 | 1,522 | 1,515 |
Inventory Disposals and Adjustments | (1,351) | (977) | (1,536) |
Valuation Allowances and Reserves, Balance, Ending Balance | $ 4,082 | $ 3,681 | $ 3,136 |
Supplementary Balance Sheet I_7
Supplementary Balance Sheet Information - Valuation Allowance for Deferred Tax Assets Activity (Details) - Valuation Allowance, Deferred Tax Asset - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Valuation Allowances and Reserves, Balance, Beginning Balance | $ 8,592 | $ 10,623 | $ 12,843 |
Charged to Provisions | 1,337 | (3,247) | (2,514) |
Charged to Other Accounts | 4,002 | (1,216) | (294) |
Valuation Allowances and Reserves, Balance, Ending Balance | $ 5,927 | $ 8,592 | $ 10,623 |
Supplementary Balance Sheet I_8
Supplementary Balance Sheet Information - Product Warranty and Retrofit Activity on Gross Basis (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward] | |||
Beginning Balance | $ 2,330 | $ 2,211 | $ 2,314 |
Adjustments for acquisitions | 254 | ||
Accruals for warranties | 2,438 | 2,300 | 2,779 |
Costs incurred | (2,132) | (2,181) | (2,882) |
Ending Balance | $ 2,890 | $ 2,330 | $ 2,211 |
Debt and Line of Credit (Detail
Debt and Line of Credit (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Feb. 01, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | Oct. 04, 2017 | |
Debt Instrument [Line Items] | ||||
Loss on extinguishment of debt | $ 632 | |||
Secured Debt | Senior Secured Term Loan Facility | ||||
Debt Instrument [Line Items] | ||||
Face amount | $ 200,000 | |||
Issue amount | $ 197,600 | |||
Percentage of par (as a percent) | 98.80% | |||
Discount | $ 2,400 | |||
Discount percentage (as a percent) | 1.20% | |||
Weighted average interest rate (as a percent) | 2.70% | 2.80% | ||
Interest expense | $ 500 | $ 1,700 | ||
Debt extinguished | $ 49,700 | |||
Loss on extinguishment of debt | $ 600 | |||
Deferred financing costs | $ 0 | $ 300 |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Federal | $ (4,826) | $ (14,247) | $ 661 |
State | 607 | (867) | 375 |
Foreign | 4,627 | 15,484 | 3,721 |
Total current income tax provision | 408 | 370 | 4,757 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Federal | (815) | (11,469) | (11,833) |
State | (180) | (2,283) | (1,976) |
Foreign | 1,937 | (6,718) | (4,878) |
Total deferred income tax provision (benefit) | 942 | (20,470) | (18,687) |
Income tax benefit | $ 1,350 | $ (20,100) | $ (13,930) |
Income Taxes - Components of _2
Income Taxes - Components of Income Before Income Taxes and Equity in Earnings of Equity Method Investments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract] | |||
Domestic | $ (39,392) | $ (88,763) | $ (48,932) |
Foreign | 29,456 | 39,794 | 8,640 |
Loss before income taxes | $ (9,936) | $ (48,969) | $ (40,292) |
Income Taxes - Differences Betw
Income Taxes - Differences Between Income Tax Provision (Benefit) and Income Taxes Computed using Applicable U.S. Statutory Federal Tax Rate (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
Income tax benefit computed at federal statutory rate | $ (2,086) | $ (10,284) | $ (8,461) |
State income taxes, net of federal benefit | (776) | (1,005) | (1,557) |
Foreign income taxed at different rates | (1,182) | (2,594) | (1,786) |
Impact of investments in subsidiaries | 7,128 | 289 | |
Change in deferred tax asset valuation allowance | 1,337 | (3,247) | (2,514) |
Impact of change in uncertain tax positions | (358) | (10,607) | 1,144 |
Global intangible low taxed income, net of foreign tax credits | 4,060 | 4,051 | 2,815 |
Impact of tax rate changes | 1,531 | 165 | (185) |
Compensation | (1,199) | 462 | (2,302) |
Tax credits | (2,102) | (4,050) | (676) |
Merger costs | 1,629 | 20 | 37 |
Other non-deductible expenses | 717 | 468 | 398 |
Other true-ups | 763 | (520) | |
Research and development expense deduction | (910) | (730) | (547) |
Other | (74) | 123 | (65) |
Income tax benefit | $ 1,350 | $ (20,100) | $ (13,930) |
Income Taxes - Unremitted Earni
Income Taxes - Unremitted Earnings of Foreign Subsidiaries (Details) $ in Billions | Sep. 30, 2022 USD ($) |
Deferred Tax Liability Not Recognized, Undistributed Earnings of Foreign Subsidiaries [Abstract] | |
Unremitted earnings of foreign subsidiaries | $ 1.3 |
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Deferred Tax Assets, Gross [Abstract] | ||
Accruals and reserves not currently deductible | $ 9,704 | $ 17,272 |
Federal, state and foreign tax credits | 4,350 | |
Other assets | 14 | 502 |
Equity compensation | 3,508 | 5,872 |
Net operating loss carryforwards | 7,397 | 9,693 |
Lease liabilities | 14,700 | 12,958 |
Mergers | 7,239 | |
Deferred revenue | 3,609 | 3,258 |
Inventory reserves and valuation | 1,081 | 6,946 |
Deferred tax assets | $ 40,013 | $ 68,090 |
Income Taxes - Deferred Tax Lia
Income Taxes - Deferred Tax Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Deferred Tax Liabilities, Gross [Abstract] | ||
Depreciation and intangible amortization | $ (56,856) | $ (50,181) |
Right-of-use assets | (14,146) | (12,683) |
Other liabilities | (402) | (1,883) |
Net unrealized loss | (27,144) | |
Deferred tax liabilities | $ (98,548) | $ (64,747) |
Income Taxes - Net Deferred Tax
Income Taxes - Net Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Deferred tax assets | $ 40,013 | $ 68,090 |
Deferred tax liabilities | (98,548) | (64,747) |
Valuation allowance | (5,927) | (8,592) |
Net deferred tax liability | $ (64,462) | $ (5,249) |
Income Taxes - Net Deferred T_2
Income Taxes - Net Deferred Tax Assets (Liability) Held for Sale (Details) $ in Millions | Sep. 30, 2021 USD ($) |
Components of Deferred Tax Assets and Liabilities [Abstract] | |
Net deferred tax asset (liability), long-term assets held for sale | $ 3.2 |
Net deferred tax asset (liability), long-term liabilities held for sale | $ 6.5 |
Income Taxes - Deferred Charges
Income Taxes - Deferred Charges Related to Intercompany Profit Elimination (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Segment Reporting Information [Line Items] | ||
Deferred tax asset | $ 1,169 | $ 10,043 |
Intersegment Eliminations | ||
Segment Reporting Information [Line Items] | ||
Deferred tax asset | $ 1,100 | $ 2,300 |
Income Taxes - Net Operating Lo
Income Taxes - Net Operating Loss Carry-forwards (Details) $ in Millions | Sep. 30, 2022 USD ($) |
Domestic Tax Authority | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | $ 0.4 |
State and Local Jurisdiction | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | 2.1 |
Foreign Tax Authority | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | $ 4.9 |
Income Taxes - Unrecognized Tax
Income Taxes - Unrecognized Tax Benefits - Tabular Disclosure (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Beginning Balance | $ 2,006 | $ 16,722 | $ 16,860 |
Additions for tax positions in current year | 448 | ||
Reductions from lapses in statutes of limitations | (327) | (14,716) | (586) |
Ending Balance | $ 1,679 | $ 2,006 | $ 16,722 |
Income Taxes - Unrecognized T_2
Income Taxes - Unrecognized Tax Benefits - Interest Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | |
Income Tax Uncertainties [Abstract] | ||||
Unrecognized tax benefits | $ 1,679 | $ 2,006 | $ 16,722 | $ 16,860 |
Unrecognized tax benefits, tax benefits that if recognized would impact the effective tax rate | 1,679 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense [Abstract] | ||||
Interest related to unrecognized benefits | $ 0 | $ 1,100 | $ 1,100 |
Income Taxes - Unrecognized T_3
Income Taxes - Unrecognized Tax Benefits - Acquisitions (Details) $ in Millions | 12 Months Ended |
Sep. 30, 2019 USD ($) | |
GENEWIZ [Member] | |
Business Acquisition [Line Items] | |
Additions for tax positions in prior year | $ 13.4 |
Income Taxes - Examination (Det
Income Taxes - Examination (Details) | 12 Months Ended |
Sep. 30, 2022 | |
Earliest Tax Year | |
Income Tax Contingency [Line Items] | |
Year subject to examination | 2017 |
Income Taxes - Unrecognized T_4
Income Taxes - Unrecognized Tax Benefits - Decrease in Unrecognized Tax Benefits is Reasonably Possible (Details) $ in Millions | Sep. 30, 2022 USD ($) |
Income Tax Disclosure [Abstract] | |
Anticipated unrecognized tax benefit reduction during next twelve months | $ 1.6 |
Derivative Instruments - Additi
Derivative Instruments - Additional Information (Details) | 12 Months Ended |
Sep. 30, 2022 | |
Not Designated as Hedging Instrument | Foreign Exchange Contract | Maximum | |
Derivative [Line Items] | |
Term of derivative instruments | 3 months |
Derivative Instruments - Realiz
Derivative Instruments - Realized Gains (Losses) on Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | |||
Realized gains (losses) on derivatives not designated as hedging instruments | $ 991 | $ (7,781) | $ (2,671) |
Derivative Instruments - Notion
Derivative Instruments - Notional Amounts Outstanding under Foreign Currency Contracts - Fair Value of Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Not Designated as Hedging Instrument | Foreign Exchange Contract | ||
Derivative [Line Items] | ||
Fair Value of Assets | $ 634 | $ 153 |
Derivative Instruments - Noti_2
Derivative Instruments - Notional Amounts Outstanding under Foreign Currency Contracts - Fair Value of Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Not Designated as Hedging Instrument | Foreign Exchange Contract | ||
Derivative [Line Items] | ||
Fair Value of Liabilities | $ (230) | $ (165) |
Derivative Instruments - Hedgin
Derivative Instruments - Hedging Activities (Details) $ in Thousands, € in Millions | 12 Months Ended | ||||||
Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2020 USD ($) | Sep. 30, 2022 EUR (€) | Feb. 23, 2022 USD ($) | Feb. 01, 2022 USD ($) | Feb. 01, 2022 EUR (€) | |
Derivative [Line Items] | |||||||
Unrealized gain on derivative asset, net of tax effects | $ 93,020 | ||||||
Interest income | 20,286 | $ 632 | $ 849 | ||||
Foreign Exchange Contract [Member] | Designated as Hedging Instrument | |||||||
Derivative [Line Items] | |||||||
Unrealized gain on derivative asset, net of tax effects | 93,000 | ||||||
Currency Swap | Designated as Hedging Instrument | |||||||
Derivative [Line Items] | |||||||
Derivative, notional amount, cross-currency swap, exchanged | $ 1,030,000 | ||||||
Derivative, notional amount, cross-currency swap, received | € | € 915 | ||||||
Derivative, notional amount | $ 960,000 | ||||||
Derivative, fixed interest rate (as a percent) | 1.283% | 1.283% | |||||
Derivative, notional amount, cross-currency swap, maturity, deliver | € | € 852 | ||||||
Derivative, notional amount, cross-currency swap, maturity, receive | $ 960,000 | ||||||
Derivative, forward exchange rate | 1.1261 | ||||||
Unrealized gain on derivative asset, net of tax effects | 93,000 | ||||||
Interest income | $ 8,200 | ||||||
Currency Swap | Designated as Hedging Instrument | Weighted Average | |||||||
Derivative [Line Items] | |||||||
Derivative, variable interest rate | 1.196% | 1.196% |
Stockholders' Equity - Preferre
Stockholders' Equity - Preferred Stock (Details) - $ / shares | Sep. 30, 2022 | Sep. 30, 2021 |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Stockholders' Equity - Accumula
Stockholders' Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | |||
Beginning Balance | $ 1,325,334 | $ 1,213,614 | $ 1,138,954 |
Ending Balance | 3,363,386 | 1,325,334 | 1,213,614 |
AOCI Attributable to Parent [Member] | |||
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | |||
Beginning Balance | 19,351 | 21,919 | 3,511 |
Other comprehensive (loss) income before reclassifications | (86,742) | (2,589) | 18,379 |
Amounts reclassified from accumulated other comprehensive income | (16,525) | 21 | 29 |
Ending Balance | (83,916) | 19,351 | 21,919 |
Currency Translation Adjustments | |||
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | |||
Beginning Balance | 20,139 | 23,061 | 4,184 |
Other comprehensive (loss) income before reclassifications | (169,266) | (2,922) | 18,877 |
Amounts reclassified from accumulated other comprehensive income | (16,567) | ||
Ending Balance | (165,694) | 20,139 | 23,061 |
Unrealized Gains (Losses) on Available-for-Sale Securities | |||
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | |||
Beginning Balance | (1) | (1) | (8) |
Other comprehensive (loss) income before reclassifications | (10,908) | 5 | |
Amounts reclassified from accumulated other comprehensive income | 2 | ||
Ending Balance | (10,909) | (1) | (1) |
Unrealized Gain on Derivative Asset Net of Tax | |||
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | |||
Other comprehensive (loss) income before reclassifications | 93,020 | ||
Ending Balance | 93,020 | ||
Pension Liability Adjustments | |||
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | |||
Beginning Balance | (787) | (1,141) | (665) |
Other comprehensive (loss) income before reclassifications | 412 | 333 | (503) |
Amounts reclassified from accumulated other comprehensive income | 42 | 21 | 27 |
Ending Balance | $ (333) | $ (787) | $ (1,141) |
Equity Incentive Plans - Genera
Equity Incentive Plans - General Information (Details) | 12 Months Ended |
Sep. 30, 2022 shares | |
Restricted Stock | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Award vesting period (in years) | 3 years |
Equity Incentive Plans | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Shares available for grant (in shares) | 2,431,324 |
2020 Equity Incentive Plan | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Shares authorized (in shares) | 2,800,000 |
Shares authorized, plan (in shares) | 2,500,000 |
Shares authorized, may be issued if outstanding awards granted under the 2000 Plan or the 2015 Plan are forfeited, expire or are cancelled (in shares) | 300,000 |
Equity Incentive Plans - Restri
Equity Incentive Plans - Restricted Stock Unit Activity - Tabular Disclosure (Details) - Restricted Stock Units (RSUs) - $ / shares | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Shares | |||
Outstanding at beginning of period (in shares) | 1,088,652 | ||
Restricted stocks granted (in shares) | 249,685 | 349,930 | 412,036 |
Vested (in shares) | (555,513) | ||
Forfeited (in shares) | (244,586) | ||
Outstanding at end of period (in shares) | 538,238 | 1,088,652 | |
Weighted Average Grant-Date Fair Value | |||
Outstanding at beginning of period (in dollars per share) | $ 47.35 | ||
Granted (in dollars per share) | 99.62 | $ 71.97 | $ 46.52 |
Vested (in dollars per share) | 39.51 | ||
Forfeited (in dollars per share) | 64.31 | ||
Outstanding at end of period (in dollars per share) | $ 71.99 | $ 47.35 |
Equity Incentive Plans - Rest_2
Equity Incentive Plans - Restricted Stock Unit Activity - Additional Information (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Granted (in dollars per share) | $ 99.62 | $ 71.97 | $ 46.52 |
Fair value of restricted stock awards vested | $ 66.9 | $ 28.4 | $ 41.7 |
Withholding taxes remitted | $ 25.2 | $ 9.8 | $ 24.1 |
Equity Incentive Plans - Rest_3
Equity Incentive Plans - Restricted Stock Unit Activity - Unrecognized Compensation Cost (Details) - Restricted Stock Units (RSUs) $ in Millions | 12 Months Ended |
Sep. 30, 2022 USD ($) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized compensation cost | $ 12.3 |
Unrecognized compensation cost, estimated weighted average amortization period | 1 year 4 months 24 days |
Equity Incentive Plans - Rest_4
Equity Incentive Plans - Restricted Stock Units Granted - Tabular Disclosure (Details) - shares | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Restricted Stock Units (RSUs) | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stocks granted (in shares) | 249,685 | 349,930 | 412,036 |
Restricted Stock, Time Based Shares | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stocks granted (in shares) | 120,066 | 166,570 | 163,390 |
Board of Director Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stocks granted (in shares) | 18,471 | 14,713 | 27,076 |
Restricted Stock, Performance Based Shares | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stocks granted (in shares) | 111,148 | 168,647 | 221,570 |
Equity Incentive Plans - Rest_5
Equity Incentive Plans - Restricted Stock Units Granted - Discontinued Operations (Details) - Restricted Stock Units (RSUs) - shares | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stocks granted (in shares) | 249,685 | 349,930 | 412,036 |
Discontinued Operations, Held-for-sale or Disposed of by Sale | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stocks granted (in shares) | 0 | 98,783 | 119,978 |
Equity Incentive Plans - Time-B
Equity Incentive Plans - Time-Based Restricted Stock Unit Grants (Details) - Restricted Stock, Time Based Shares | 12 Months Ended |
Sep. 30, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Award vesting period (in years) | 3 years |
Share-Based Payment Arrangement, Tranche One | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Award vesting percentage (as a percent) | 33.33% |
Share-Based Payment Arrangement, Tranche Two | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Award vesting percentage (as a percent) | 33.33% |
Share-Based Payment Arrangement, Tranche Three | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Award vesting percentage (as a percent) | 33.33% |
Equity Incentive Plans - Perfor
Equity Incentive Plans - Performance-Based Restricted Stock Unit Grants (Details) - Restricted Stock, Performance Based Shares | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance-based awards granted, percentage (as a percent) | 100% | 100% | 100% |
Performance-based awards granted, percentage, maximum threshold met (as a percent) | 200% | 200% | 200% |
Performance goal measurement period (in years) | 3 years |
Equity Incentive Plans - Employ
Equity Incentive Plans - Employee Stock Purchase Plan (Details) - shares | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares issued under employee stock purchase plan (in shares) | 82,035 | 106,516 |
Employee Stock | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Purchase price of common stock (as a percent) | 85% | |
Shares authorized (in shares) | 1,250,000 | |
Shares available for grant (in shares) | 670,136 |
Earnings per Share - Tabular Di
Earnings per Share - Tabular Disclosure (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net income | |||
Loss from continuing operations | $ (11,286) | $ (28,869) | $ (26,362) |
Income from discontinued operations, net of tax | 2,144,145 | 139,616 | 91,215 |
Net income | 2,132,859 | 110,747 | 64,853 |
Net (loss) income - basic | 2,132,859 | 110,747 | 64,853 |
Net (loss) income - diluted | $ 2,132,859 | $ 110,747 | $ 64,853 |
Weighted average common shares outstanding used in computing diluted earnings per share | |||
Weighted average common shares outstanding used in computing basic earnings per share (in shares) | 74,897 | 74,229 | 73,557 |
Dilutive restricted stock units (in shares) | 226 | 293 | |
Weighted average common shares outstanding used in computing diluted earnings per share (in shares) | 74,897 | 74,455 | 73,850 |
Basic net income per share: | |||
Loss from continuing operations (in dollars per share) | $ (0.15) | $ (0.39) | $ (0.36) |
Income from discontinued operations, net of tax (in dollars per share) | 28.63 | 1.88 | 1.24 |
Basic net income per share (in dollars per share) | 28.48 | 1.49 | 0.88 |
Diluted net income per share: | |||
Loss from continuing operations (in dollars per share) | (0.15) | (0.39) | (0.36) |
Income from discontinued operations, net of tax (in dollars per share) | 28.63 | 1.88 | 1.24 |
Diluted net income per share (in dollars per share) | $ 28.48 | $ 1.49 | $ 0.88 |
Earnings per Share - Anti-dilut
Earnings per Share - Anti-dilutive Securities (Details) - shares | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Restricted Stock Units (RSUs) | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive securities excluded from computation of diluted earnings per share (in shares) | 64,122 | 24,012 | 16,695 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - Disaggregated By Reporting Unit (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 555,498 | $ 513,703 | $ 388,537 |
Life Sciences Products | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 199,230 | $ 199,606 | $ 129,759 |
Reporting unit, name of segment | Life Sciences Products | Life Sciences Products | Life Sciences Products |
Life Sciences Services | |||
Disaggregation of Revenue [Line Items] | |||
Reporting unit, name of segment | Life Sciences Services | Life Sciences Services | Life Sciences Services |
Sample Repository Solutions | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 105,331 | $ 88,922 | $ 89,847 |
Reporting unit, name of segment | Life Sciences Services | Life Sciences Services | Life Sciences Services |
Genomic Services | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 250,937 | $ 225,175 | $ 168,931 |
Reporting unit, name of segment | Life Sciences Services | Life Sciences Services | Life Sciences Services |
Revenue from Contracts with C_4
Revenue from Contracts with Customers - Contract Balances (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract] | ||
Accounts receivable, net | $ 163,758 | $ 119,877 |
Contract with Customer, Asset, after Allowance for Credit Loss, Current [Abstract] | ||
Contract assets | 18,200 | 15,300 |
Contract with Customer, Liability [Abstract] | ||
Contract liabilities | 39,700 | $ 25,700 |
Revenue recognized | $ 13,900 |
Revenue from Contracts with C_5
Revenue from Contracts with Customers - Remaining Performance Obligations (Details) $ in Thousands | Sep. 30, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligations | $ 80,200 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligations | $ 45,365 |
Unsatisfied performance obligation, period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligations | $ 34,844 |
Unsatisfied performance obligation, period |
Revenue from Contracts with C_6
Revenue from Contracts with Customers - Costs to Obtain and Fulfill a Contract (Details) $ in Millions | 12 Months Ended |
Sep. 30, 2022 USD ($) | |
Capitalized Contract Cost [Abstract] | |
Sales commission amortization period | 60 months |
Capitalized contract cost, amount capitalized | $ 0.7 |
Segment and Geographic Inform_3
Segment and Geographic Information - General Information (Details) - segment | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | |||
Number of reportable segments | 2 | 2 | 2 |
Number of operating segments | 2 | 2 | 2 |
Number of reportable segments, previously operated | 3 | 3 | 3 |
Segment and Geographic Inform_4
Segment and Geographic Information - Reconciliation of Reportable Segment Operating Income (Loss) to Corresponding Consolidated Amounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Segment Reporting Information [Line Items] | |||
Total revenue | $ 555,498 | $ 513,703 | $ 388,537 |
Amortization of other intangible assets | 32,300 | 37,400 | 35,400 |
Restructuring related charges | 13,364 | 301 | |
Restructuring charges | 712 | 385 | 674 |
Operating income (loss) | (24,735) | (31,089) | (36,600) |
Interest income | 20,286 | 632 | 849 |
Interest expense | (4,589) | (2,037) | (2,944) |
Loss on extinguishment of debt | (632) | ||
Other expenses | (266) | (16,475) | (1,597) |
Loss before income taxes | (9,936) | (48,969) | (40,292) |
Completed Technology | |||
Segment Reporting Information [Line Items] | |||
Amortization of other intangible assets | 7,325 | 8,073 | 8,099 |
Acquired Intangible Assets | |||
Segment Reporting Information [Line Items] | |||
Amortization of other intangible assets | 24,965 | 29,299 | 27,276 |
Life Sciences Products | |||
Segment Reporting Information [Line Items] | |||
Total revenue | 199,230 | 199,606 | 129,759 |
Life Sciences Services | |||
Segment Reporting Information [Line Items] | |||
Total revenue | 356,268 | 314,097 | 258,778 |
Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Operating income (loss) | 21,817 | 45,753 | (182) |
Operating Segments | Life Sciences Products | |||
Segment Reporting Information [Line Items] | |||
Operating income (loss) | 11,033 | 23,094 | (3,041) |
Operating Segments | Life Sciences Services | |||
Segment Reporting Information [Line Items] | |||
Operating income (loss) | 10,784 | 22,659 | 2,859 |
Corporate, Non-Segment | |||
Segment Reporting Information [Line Items] | |||
Other unallocated corporate expense (income) | $ 13,550 | $ 25,721 | $ 68 |
Segment and Geographic Inform_5
Segment and Geographic Information - Financial Information for Business Segments - Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Segment Reporting Information [Line Items] | ||
Total assets | $ 3,716,122 | $ 1,819,512 |
Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Total assets | 1,228,393 | 1,059,007 |
Operating Segments | Life Sciences Products | ||
Segment Reporting Information [Line Items] | ||
Total assets | 378,790 | 278,769 |
Operating Segments | Life Sciences Services | ||
Segment Reporting Information [Line Items] | ||
Total assets | $ 849,603 | $ 780,238 |
Segment and Geographic Inform_6
Segment and Geographic Information - Reconciliation of Reportable Segment Assets to Corresponding Consolidated Amounts (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Segment Reporting Information [Line Items] | ||
Cash and cash equivalents, restricted cash, and marketable securities | $ 2,305,081 | $ 244,012 |
Deferred tax asset | 1,169 | 10,043 |
Other assets | 181,479 | 11,237 |
Assets held for sale | 495,213 | |
Assets | 3,716,122 | 1,819,512 |
Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Assets | $ 1,228,393 | $ 1,059,007 |
Segment and Geographic Inform_7
Segment and Geographic Information - Net Revenues Based upon Source of Order by Geographic Area (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | $ 555,498 | $ 513,703 | $ 388,537 |
North America | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | 373,611 | 323,982 | 256,174 |
United States | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | 370,600 | 320,800 | 253,500 |
Europe | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | 104,824 | 108,805 | 74,155 |
China | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | 48,094 | 45,743 | 34,016 |
Asia / Pacific / Other | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Total revenue | $ 28,969 | $ 35,173 | $ 24,192 |
Segment and Geographic Inform_8
Segment and Geographic Information - Long-Lived Assets, Consisting of Property, Plant and Equipment by Geographic Area (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Property, plant and equipment, net | $ 154,470 | $ 130,719 |
North America | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Property, plant and equipment, net | 84,852 | 55,943 |
United States | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Property, plant and equipment, net | 84,800 | 60,600 |
China | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Property, plant and equipment, net | 56,585 | 54,239 |
Asia / Pacific / Other | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Property, plant and equipment, net | 1,423 | 3,655 |
Europe | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Property, plant and equipment, net | $ 11,610 | $ 16,882 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Sep. 30, 2021 |
Assets, Fair Value Disclosure [Abstract] | ||
Available-for-sale securities | $ 1,263,784 | $ 3,679 |
Derivative Asset, Statement of Financial Position | Prepaid expenses and other current assets | |
Fair Value, Recurring | ||
Assets, Fair Value Disclosure [Abstract] | ||
Cash equivalents | 21 | |
Available-for-sale securities | $ 1,263,782 | 3,679 |
Foreign exchange contracts | 634 | 153 |
Net Investment Hedge | 124,789 | |
Total Assets | 1,764,009 | |
Liabilities, Fair Value Disclosure [Abstract] | ||
Foreign exchange contracts | 230 | 165 |
Acquisition-related contingent consideration | 9,400 | |
Total Liabilities | 230 | 9,565 |
Fair Value, Recurring | Cash Equivalents | ||
Assets, Fair Value Disclosure [Abstract] | ||
Cash equivalents | 374,804 | |
Fair Value, Recurring | Fair Value, Inputs, Level 1 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Cash equivalents | 21 | |
Available-for-sale securities | 651,800 | |
Total Assets | 1,025,855 | |
Fair Value, Recurring | Fair Value, Inputs, Level 1 | Cash Equivalents | ||
Assets, Fair Value Disclosure [Abstract] | ||
Cash equivalents | 374,055 | |
Fair Value, Recurring | Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Available-for-sale securities | 611,982 | 3,679 |
Foreign exchange contracts | 634 | 153 |
Net Investment Hedge | 124,789 | |
Total Assets | 738,154 | |
Liabilities, Fair Value Disclosure [Abstract] | ||
Foreign exchange contracts | 230 | 165 |
Total Liabilities | 230 | 165 |
Fair Value, Recurring | Fair Value, Inputs, Level 2 | Cash Equivalents | ||
Assets, Fair Value Disclosure [Abstract] | ||
Cash equivalents | $ 749 | |
Fair Value, Recurring | Fair Value, Inputs, Level 3 | ||
Liabilities, Fair Value Disclosure [Abstract] | ||
Acquisition-related contingent consideration | 9,400 | |
Total Liabilities | $ 9,400 |
Commitments and Contingencies -
Commitments and Contingencies - Tariff Matter (Details) - Tariffs - USD ($) $ in Millions | 3 Months Ended | ||
Jun. 30, 2022 | Sep. 30, 2022 | Mar. 31, 2021 | |
Loss Contingency Accrual, Disclosures [Abstract] | |||
Loss contingency accrual | $ 2.8 | $ 6.1 | |
Loss contingency payment | $ 5.9 |
Commitments and Contingencies_2
Commitments and Contingencies - Purchase Commitments (Details) $ in Millions | Sep. 30, 2022 USD ($) |
Non-cancelable Commitments | |
Other Commitments [Line Items] | |
Other commitment | $ 66.6 |
Non-cancellable Contracts and Purchase Orders for Inventory | |
Other Commitments [Line Items] | |
Other commitment | 55.6 |
Non-cancelable Information Technology-related Commitments | |
Other Commitments [Line Items] | |
Other commitment | $ 10.9 |
Subsequent Events - Acquisition
Subsequent Events - Acquisition (Details) $ in Thousands | 12 Months Ended | ||||
Oct. 03, 2022 USD ($) country | Sep. 29, 2022 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2020 USD ($) | |
Subsequent Event [Line Items] | |||||
Aggregate purchase price, net of cash acquired | $ 125,876 | $ 93,712 | $ 15,744 | ||
Short-term restricted cash | $ 382,596 | $ 7,145 | $ 3,567 | ||
B Medical Systems S.a.r.l and Subsidiaries | |||||
Subsequent Event [Line Items] | |||||
Outstanding debt paid | $ 43,100 | ||||
Subsequent Event | B Medical Systems S.a.r.l and Subsidiaries | |||||
Subsequent Event [Line Items] | |||||
Business Acquisition, Date of Acquisition Agreement | Oct. 03, 2022 | ||||
Aggregate purchase price, net of cash acquired | $ 422,000 | ||||
Additional contingent consideration | 50,000 | ||||
Short-term restricted cash | $ 381,000 | ||||
Subsequent Event | B Medical Systems S.a.r.l and Subsidiaries | Minimum | |||||
Subsequent Event [Line Items] | |||||
Number of countries in which entity operates | country | 150 |
Subsequent Events - Share Repur
Subsequent Events - Share Repurchase Program (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |
Nov. 04, 2022 | Sep. 30, 2022 | Sep. 29, 2015 | |
Share Repurchase Program, September 2015 | |||
Subsequent Event [Line Items] | |||
Stock repurchase program, authorized amount | $ 50,000,000 | ||
Treasury stock, shares, acquired (in shares) | 0 | ||
Subsequent Event | Share Repurchase Program, September 2015 | |||
Subsequent Event [Line Items] | |||
Stock repurchase program, remaining authorized repurchase amount | $ 0 | ||
Treasury stock, shares, acquired (in shares) | 0 | ||
Subsequent Event | Share Repurchase Program, November 2022 | |||
Subsequent Event [Line Items] | |||
Stock repurchase program, authorized amount | $ 1,500,000,000 | ||
Subsequent Event | Share Repurchase Program, November 2022, Accelerated Share Repurchase Agreement | |||
Subsequent Event [Line Items] | |||
Stock repurchase program, authorized amount | $ 500,000,000 |