Investments

9 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Non-current investments consisted of the following:


	June 30, 2020		September 30, 2019
Equity and fixed income mutual funds	$	24,119	$	22,986
Life insurance policies	4,100		4,030
Equity-method investments	386		39,761
Other investments	33,463		18,724
	$	62,068	$	85,501

During the first six months of fiscal 2020, the Company made $9,482 of additional investments in a non-consolidated subsidiary that was being accounted for as an equity-method investment. During the third quarter of fiscal 2020, the Company sold its ownership interest in this subsidiary for $42,210 of cash and $15,000 of senior preferred shares. The senior preferred shares earn a yield based on an escalating rate ranging from 6% to 14% and are expected to be redeemed before the end of calendar year 2022. In connection with this sale transaction, the Company recognized a pre-tax gain of $11,208 which has been recorded as a component of administrative expenses. The senior preferred shares are included within other investments in the table above along with ownership interests in various entities of less than 20%, which are recorded under the cost-method of accounting.