Fair Value Measurement

12 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurement

(3) Fair Value Measurement

The Company applies the FASB standard “Fair Value Measurements” for all financial assets and liabilities, which establishes a framework for measuring fair value and expands disclosures about fair value measurements. The standard defines fair value as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” It also establishes a fair value hierarchy consisting of the following three “levels” that prioritize the inputs to the valuation techniques used to measure fair value:

• Level 1 – Unadjusted, quoted prices in active markets for identical assets or liabilities that an entity has the ability to access at the measurement date.

• Level 2 – Other significant observable inputs (including, but not limited to, quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets).

• Level 3 – Significant unobservable inputs (including the entity’s own assumptions about what market participants would use to price the asset or liability based on the best available information) when observable inputs are not available.

Based on the definitions, the following table represents the Company’s assets categorized in the Level 1 to 3 hierarchies as of the end of fiscal years 2017, 2016, and 2015:

	Fair Value Measurements at September 30, 2017
	(In thousands)
	Level 1		Level 2		Level 3		Total
Money market fund deposits	$	13,832	$	—	$	—	$	13,832
Mutual fund investments		8		—		—		8
Total	$	13,840	$	—	$	—	$	13,840
Amounts included in:
Cash and cash equivalents	$	13,832	$	—	$	—	$	13,832
Investments in marketable securities		8		—		—		8
Total	$	13,840	$	—	$	—	$	13,840
	Fair Value Measurements at September 30, 2016
	(In thousands)
	Level 1		Level 2		Level 3		Total
Money market fund deposits	$	320	$	—	$	—	$	320
Mutual fund investments		8		—		—		8
Total	$	328	$	—	$	—	$	328
Amounts included in:
Cash and cash equivalents	$	320	$	—	$	—	$	320
Investments in marketable securities		8		—		—		8
Total	$	328	$	—	$	—	$	328
	Fair Value Measurements at September 30, 2015
	(In thousands)
	Level 1		Level 2		Level 3		Total
Money market fund deposits	$	1,592	$	—	$	—	$	1,592
Mutual fund investments		7		—		—		7
Total	$	1,599	$	—	$	—	$	1,599
Amounts included in:
Cash and cash equivalents	$	1,592	$	—	$	—	$	1,592
Investments in marketable securities		7		—		—		7
Total	$	1,599	$	—	$	—	$	1,599

There were no transfers between levels during any of such fiscal years.