Organization and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

Schedule of Accounting Standards Update and Change in Accounting Principle

We recognized the cumulative effect of initially applying this new standard as of October 1, 2021. We recognized a cumulative effect of initially applying the ASU as an adjustment to the October 1, 2021 opening balance of retained earnings. The conversion option that was previously accounted for in equity under the cash conversion model was recombined into the convertible debt outstanding, and as a result, additional paid in capital and the related unamortized debt discount on the convertible senior notes were reduced. The removal of the remaining debt discounts recorded for this previous separation has the effect of increasing our net debt balance. The prior period consolidated financial statements have not been retrospectively adjusted and continue to be reported under the accounting standards in effect for those periods.

(in thousands)	As Reported September 30, 2021		Adjustments		Under ASU 2020-06 October 1, 2021
Principal	$	316,250	$	—	$	316,250
Unamortized debt discount	(48,785)		48,785		—
Deferred financing costs, net	(3,279)		(1,500)		(4,779)
Net carrying amount	264,186		47,285		311,471
Deferred tax asset	9,746		5,839		15,585
Deferred tax liability	3,684		(4,040)		(356)
Additional paid-in capital	403,312		(64,263)		339,049
Retained earnings	326,781		26,857		353,638