Investments at September 30, 2021 primarily consisted of corporate bonds that have maturities of less than 36 months, a certificate of deposit and marketable equity securities. The Company’s investments in corporate bonds consist of both short-term and long-term bonds and are classified as “held-to-maturity” on the Company’s Consolidated Balance Sheets. The Company’s certificate of deposit matures in less than 24 months and is classified as “held-to-maturity” on the Company’s Consolidated Balance Sheet. The Company’s marketable equity securities consist of mutual funds that primarily invest in U.S. government bonds, U.S. government agency bonds, corporate bonds and other asset-backed debt securities. Dividends from these funds are automatically reinvested. The Company may also invest excess cash balances in money market accounts, government-sponsored enterprise securities, and/or commercial paper. The Company accounts for its held to maturity investments in accordance with FASB ASC 320, Investments – Debt and Equity Securities and its marketable equity securities in accordance with ASC 321, Investments – Equity Securities.

The following tables summarize the Company’s short-term, long-term investments and marketable securities as of September 30, 2021 and September 30, 2020 by measurement category.

Held to Maturity	As of September 30, 2021
	(in thousands)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial notes (due within one year)	$	56,627	$	803	$	-		$	57,430
Commercial notes (due within one through three years)	$	195,595	$	1,151	$	(103	)	$	196,643
Certificate of deposit (due within two years)	$	50,000	$	-	$	-		$	50,000
Total	$	302,222	$	1,954	$	(103	)	$	304,073

	As of September 30, 2020
	(in thousands)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Commercial notes (due within one year)	$	86,890	$	1,590	$	-		$	88,480
Commercial notes (due within one through three years)	$	137,487	$	4,574	$	(79	)	$	141,982
Total	$	224,377	$	6,164	$	(79	)	$	230,462

Fair Value	As of September 30, 2021
	(in thousands)
	Cost		Realized Gains/(Losses)		Gross Unrealized Gains			Gross Unrealized Losses			Fair Value
Marketable securities	$	125,000	$	2,481	$	135		$	(888	)	$	126,728
Total	$	125,000	$	2,481	$	135		$	(888	)	$	126,728

Fair Value	As of September 30, 2020
	(in thousands)
	Cost		Realized Gains/(Losses)		Gross Unrealized Gains			Gross Unrealized Losses			Fair Value
Marketable securities	$	85,000	$	95	$	-		$	(75	)	$	85,020
Total	$	85,000	$	95	$	-		$	(75	)	$	85,020