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