0000814547-23-000022 | 10-K | XBRL Viewer

Nature of Business and Summary of Significant Accounting Policies

12 Months Ended

Sep. 30, 2023

Nature of Business and Summary of Significant Accounting Policies

Fair Isaac Corporation

Fair Isaac Corporation (NYSE: FICO) (together with its consolidated subsidiaries, the “Company,” which may also be referred to in this report as “we,” “us,” “our,” or “FICO”) is a leading applied analytics company. We were founded in 1956 on the premise that data, used intelligently, can improve business decisions. Today, FICO’s software and the widely used FICO® Score operationalize analytics, enabling thousands of businesses in more than 100 countries to uncover new opportunities, make timely decisions that matter, and execute them at scale. Most leading banks and credit card issuers rely on our solutions, as do insurers, retailers, telecommunications providers, automotive lenders, consumer reporting agencies, public agencies, and organizations in other industries. We also serve consumers through online services that enable people to access and understand their FICO® Scores — the standard measure in the U.S. of consumer credit risk — empowering them to increase financial literacy and manage their financial health.

Principles of Consolidation and Basis of Presentation

The consolidated financial statements include the accounts of FICO and its subsidiaries. All intercompany accounts and transactions have been eliminated.

Use of Estimates

We make estimates and assumptions that affect the amounts reported in the financial statements and the disclosures made in the accompanying notes. For example, we use estimates in determining the appropriate levels of various accruals; variable considerations included in the transaction price and standalone selling price of each performance obligation for our customer contracts; labor hours in connection with fixed-fee service contracts; the amount of our tax provision; and the realizability of deferred tax assets. We also use estimates in determining the remaining economic lives and carrying values of acquired intangible assets, property and equipment, and other long-lived assets. In addition, we use assumptions to estimate the fair value of reporting units and share-based compensation. Actual results may differ from our estimates.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash in banks and investments with an original maturity of 90 days or less at time of purchase.

Fair Value of Financial Instruments

The fair value of certain of our financial instruments, including cash and cash equivalents, receivables, other current assets, accounts payable, accrued compensation and employee benefits, other accrued liabilities and amounts outstanding under our revolving line of credit and term loan, approximate their carrying amounts because of the short-term maturity of these instruments. The fair values of our cash and cash equivalents and marketable securities investments are disclosed in Note 4. The fair value of our derivative instruments is disclosed in Note 5. The fair value of our senior notes is disclosed in Note 9.

Investments

We categorize our investments in debt and equity instruments as trading, available-for-sale or held-to-maturity at the time of purchase. Trading securities are carried at fair value with unrealized gains or losses included in other income (expense). Available-for-sale securities are carried at fair value measurements using quoted prices in active markets for identical assets or liabilities with unrealized gains or losses included in accumulated other comprehensive income (loss). Held-to-maturity securities are carried at amortized cost. Dividends and interest income are accrued as earned. Realized gains and losses are determined on a specific identification basis and are included in other income (expense). We review marketable securities for impairment whenever circumstances and situations change such that there is an indication that the carrying amounts may not be recovered. We did not classify any securities as held-to-maturity or available-for-sale during each of the three years ended September 30, 2023, 2022 and 2021. Investments with remaining maturities over one year are classified as long-term investments.

Concentration of Risk

Financial instruments that potentially expose us to concentrations of risk consist primarily of cash and cash equivalents, marketable securities and accounts receivable, which are generally not collateralized. Our policy is to place our cash, cash equivalents, and marketable securities with high quality financial institutions, commercial corporations and government agencies in order to limit the amount of credit exposure. We have established guidelines relative to diversification and maturities for maintaining safety and liquidity. We generally do not require collateral from our customers, but our credit extension and collection policies include analyzing the financial condition of potential customers, establishing credit limits, monitoring payments, and aggressively pursuing delinquent accounts. We maintain allowances for potential credit losses.

A significant portion of our revenues are derived from the sales of products and services to the financial services industries.

Property and Equipment

Property and equipment are recorded at cost less accumulated depreciation and amortization. Major renewals and improvements are capitalized, while repair and maintenance costs are expensed as incurred. Depreciation and amortization charges are calculated using the straight-line method over the following estimated useful lives:


	Estimated Useful Life
Data processing equipment and software	3 years	to	6 years
Office furniture and equipment	3 years	to	7 years
Leasehold improvements	Shorter of estimated useful life or lease term

The cost and accumulated depreciation for property and equipment sold, retired or otherwise disposed of are removed from the applicable accounts and resulting gains or losses are recorded in our consolidated statements of income and comprehensive income. Depreciation and amortization on property and equipment totaled $10.1 million, $15.2 million and $20.3 million during fiscal 2023, 2022 and 2021, respectively.

Internal-Use Software

Costs incurred to develop internal-use software during the application development stage are capitalized and reported at cost. Application development stage costs generally include costs associated with internal-use software configuration, coding, installation and testing. Costs of significant upgrades and enhancements that result in additional functionality are also capitalized whereas costs incurred for maintenance and minor upgrades and enhancements are expensed as incurred. Capitalized costs are amortized using the straight-line method over three years. Software development costs required to be capitalized for internal-use software have not been material to date.

Capitalized Software and Research and Development Costs

Software development costs relating to products to be sold in the normal course of business are expensed as incurred as research and development costs until technological feasibility is established. Technological feasibility for our products occurs approximately concurrently with the general release of our products; accordingly, we have not capitalized any development or production costs. Costs we incur to maintain and support our existing products after the general release of the product are expensed in the period they are incurred and included in research and development costs in our consolidated statements of income and comprehensive income.

Goodwill, Acquisition Intangibles and Other Long-Lived Assets

Goodwill represents the excess of cost over the fair value of identifiable assets acquired and liabilities assumed in business combinations. We assess goodwill for impairment for each of our reporting units on an annual basis during our fourth fiscal quarter using a July 1 measurement date unless circumstances require a more frequent measurement.

We have determined that our reporting units are the same as our reportable segments. When evaluating goodwill for impairment, we may first perform an assessment qualitatively whether it is more likely than not that a reporting unit's carrying amount exceeds its fair value, referred to as a “step zero” approach. If, based on the review of the qualitative factors, we determine it is not more likely than not that the fair value of a reporting unit is less than its carrying value, we would bypass the two-step impairment test. Events and circumstances we consider in performing the “step zero” qualitative assessment include macro-economic conditions, market and industry conditions, internal cost factors, share price fluctuations, and the operational stability and overall financial performance of the reporting units. If we conclude that it is more likely than not that a reporting unit's fair value is less than its carrying amount, we would perform the first step (“step one”) of the two-step impairment test and calculate the estimated fair value of the reporting unit by using discounted cash flow valuation models and by comparing our reporting units to guideline publicly-traded companies. These methods require estimates of our future revenues, profits, capital expenditures, working capital, and other relevant factors, as well as selecting appropriate guideline publicly-traded companies for each reporting unit. We estimate these amounts by evaluating historical trends, current budgets, operating plans, industry data, and other relevant factors. Alternatively, we may bypass the qualitative assessment described above for any reporting unit in any period and proceed directly to performing step one of the goodwill impairment test.

For fiscal 2021, we consolidated our operating segment structure from three to two by merging our Applications and Decision Management Software segments into the new Software segment. We performed a step one quantitative impairment test on the Software and Scores reporting units before and immediately following the change in reporting units. There was a substantial excess of fair value over carrying value for the reporting units and we determined goodwill was not impaired for any of our reporting units before or after the change for fiscal 2021. For fiscal 2022 and 2023, we performed a step zero qualitative analysis for our annual assessment of goodwill impairment. After evaluating and weighing all relevant events and circumstances, we concluded that it is not more likely than not that the fair value of either of our reporting units was less than their carrying amounts. Consequently, we did not perform a step one quantitative analysis and determined goodwill was not impaired for either of our reporting units for fiscal 2022 and 2023.

We amortize our finite-lived intangible assets which result from our acquisitions over the following estimated useful lives:


	Estimated Useful Life
Completed technology	5 years	to	10 years
Customer contracts and relationships	5 years	to	10 years
Non-compete agreements	2 years

Our intangible assets that have finite useful lives and other long-lived assets are assessed for potential impairment when there is evidence that events and circumstances related to our financial performance and economic environment indicate the carrying amount of the assets may not be recoverable. When impairment indicators are identified, we test for impairment using undiscounted cash flows. If such tests indicate impairment, then we measure and record the impairment as the difference between the carrying value of the asset and the fair value of the asset. We did not recognize any impairment charges on intangible assets that have finite useful lives or other long-lived assets in fiscal 2023, 2022 and 2021.

Revenue Recognition

Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration to which we expect to be entitled to in exchange for those goods or services.

See Note 11 for further discussion on revenues.

Income Taxes

We estimate our income taxes based on the various jurisdictions where we conduct business, which involves significant judgment in determining our income tax provision. We estimate our current tax liability using currently enacted tax rates and laws and assess temporary differences that result from differing treatments of certain items for tax and accounting purposes. These differences result in deferred tax assets and liabilities recorded on our consolidated balance sheets using the currently enacted tax rates and laws that will apply to taxable income for the years in which those tax assets are expected to be realized or settled. We then assess the likelihood our deferred tax assets will be realized and to the extent we believe realization is not more likely than not, we establish a valuation allowance. When we establish a valuation allowance or increase this allowance in an accounting period, we record a corresponding income tax expense in our consolidated statements of income and comprehensive income. In assessing the need for the valuation allowance, we consider future taxable income in the jurisdictions we operate; our ability to carry back tax attributes to prior years; an analysis of our deferred tax assets and the periods over which they will be realizable; and ongoing prudent and feasible tax planning strategies. An increase in the valuation allowance would have an adverse impact, which could be material, on our income tax provision and net income in the period in which we record the increase.

We recognize and measure benefits for uncertain tax positions using a two-step approach. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the technical merits of the tax position indicate it is more likely than not that the tax position will be sustained upon audit, including resolution of any related appeals or litigation processes. For tax positions more likely than not of being sustained upon audit, the second step is to measure the tax benefit as the largest amount more than 50% likely of being realized upon settlement. Significant judgment is required to evaluate uncertain tax positions and they are evaluated on a quarterly basis. Our evaluations are based upon a number of factors, including changes in facts or circumstances, changes in tax law, correspondence with tax authorities during the course of audits and effective settlement of audit issues. Changes in the recognition or measurement of uncertain tax positions could result in material increases or decreases in our income tax expense in the period in which we make the change, which could have a material impact on our effective tax rate and operating results.

Earnings per Share

Basic earnings per share are computed on the basis of the weighted-average number of common shares outstanding during the period under measurement. Diluted earnings per share are based on the weighted-average number of common shares outstanding and potential common shares. Potential common shares result from the assumed exercise of outstanding stock options or other potentially dilutive equity instruments, when they are dilutive under the treasury stock method.

Comprehensive Income

Comprehensive income is the change in our equity (net assets) during each period from transactions and other events and circumstances from non-owner sources. It includes net income and foreign currency translation adjustments.

Foreign Currency and Derivative Financial Instruments

We have determined that the functional currency of each foreign operation is the local currency. Assets and liabilities denominated in their local foreign currencies are translated into U.S. dollars at the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates of exchange prevailing during the period. Foreign currency translation adjustments are accumulated as a separate component of consolidated stockholders’ deficit.

We utilize derivative instruments to manage market risks associated with fluctuations in certain foreign currency exchange rates as they relate to specific balances of accounts receivable and cash denominated in foreign currencies. We principally utilize foreign currency forward contracts to protect against market risks arising in the normal course of business. Our policies prohibit the use of derivative instruments for the sole purpose of trading for profit on price fluctuations or to enter into contracts that intentionally increase our underlying exposure. All of our foreign currency forward contracts have maturity periods of less than three months.

At the end of the reporting period, foreign-currency-denominated assets and liabilities are remeasured into the functional currencies of the reporting entities at current market rates. The change in value from this remeasurement is reported as a foreign exchange gain or loss for that period in other income (expense), net in the accompanying consolidated statements of income and comprehensive income.

We recorded transactional foreign exchange gains (losses) of $(2.6) million, $1.9 million and $0.0 million during fiscal 2023, 2022 and 2021, respectively.

Share-Based Compensation

We measure share-based compensation cost at the grant date based on the fair value of the award and recognize it as expense, net of estimated forfeitures, over the vesting or service period, as applicable, of the stock award (generally three to four years). See Note 15 for further discussion of our share-based employee benefit plans.

Advertising and Promotion Costs

Advertising and promotion costs are expensed as incurred and are included in selling, general and administrative expenses in the accompanying consolidated statements of income and comprehensive income. Advertising and promotion costs totaled $9.8 million, $8.1 million and $6.9 million in fiscal 2023, 2022 and 2021, respectively.

New Accounting Pronouncements

Recent Accounting Pronouncements Not Yet Adopted

Goodwill and Intangible Assets - Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 1,100	$ 2,061	$ 3,255
Gross Carrying Amount	72,706	70,760
Accumulated Amortization	(71,789)	(68,743)
Intangible Assets, Net, Total	$ 917	$ 2,017
Weighted Average Life in Years	5 years	5 years
Completed technology
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 500	$ 500	1,027
Gross Carrying Amount	69,706	67,760
Accumulated Amortization	(69,289)	(66,843)
Intangible Assets, Net, Total	$ 417	$ 917
Weighted Average Life in Years	5 years	5 years
Customer contracts and relationships
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 600	$ 1,561	2,082
Gross Carrying Amount	3,000	3,000
Accumulated Amortization	(2,500)	(1,900)
Intangible Assets, Net, Total	$ 500	$ 1,100
Weighted Average Life in Years	5 years	5 years
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 0	$ 0	$ 146
Weighted Average Life in Years	2 years

Leases (Tables)

12 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule of Operating & Finance Lease Assets and Liabilities

The following table presents the lease balances within the accompanying consolidated balance sheets as of September 30, 2023 and 2022:


	Balance Sheet Location	September 30,
		2023		2022
		(In thousands)
Assets
Operating leases	Operating lease right-of-use assets	$	25,703	$	36,688
Liabilities
Current operating leases	Other accrued liabilities	$	16,336	$	19,369
Non-current operating leases	Operating lease liabilities	23,903		39,192
Total lease liabilities		$	40,239	$	58,561

Schedule of Lease Expenses, Weighted Average Lease Term and Weighted Average Discount Rates, and Supplemental Cash Flow Information

The components of our operating lease expenses were as follows:


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Operating lease cost	$	16,594	$	18,426	$	19,551
Short-term lease cost	461		201		85
Variable lease cost	2,363		2,091		1,190
Sublease income	(429)		—		—
Total lease cost	$	18,989	$	20,718	$	20,826

The following table presents weighted-average remaining lease term and weighted-average discount rates related to our operating leases:


	September 30,
	2023		2022
Weighted-average remaining lease term (in months)	35		47
Weighted-average discount rate	4.58	%	4.01	%

Supplemental cash flow information related to our operating leases was as follows:


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities	$	19,780	$	22,021	$	23,260
Lease assets obtained in exchange for new lease liabilities	4,150		7,505		5,413

Schedule of Future Lease Payments, Operating Leases

Future lease payments under our non-cancellable operating leases as of September 30, 2023 were as follows:


	(In thousands)
Fiscal 2024	$	17,731
Fiscal 2025	11,872
Fiscal 2026	8,901
Fiscal 2027	3,949
Fiscal 2028	268
Thereafter	160
Total future undiscounted lease payments	42,881
Less imputed interest	(2,642)
Total reported lease liability	$	40,239

Schedule of Future Lease Payments, Finance Leases

Future lease payments under our non-cancellable operating leases as of September 30, 2023 were as follows:


	(In thousands)
Fiscal 2024	$	17,731
Fiscal 2025	11,872
Fiscal 2026	8,901
Fiscal 2027	3,949
Fiscal 2028	268
Thereafter	160
Total future undiscounted lease payments	42,881
Less imputed interest	(2,642)
Total reported lease liability	$	40,239

Derivative Financial Instruments (Tables)

12 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The following tables summarize our outstanding foreign currency forward contracts, by currency, at September 30, 2023 and 2022:


	September 30, 2023
	Contract Amount				Fair Value
	Foreign Currency		USD		USD
		(In thousands)
Sell foreign currency:

Euro (EUR)	EUR	12,900	$	13,621	—
Buy foreign currency:
British pound (GBP)	GBP	10,700	$	13,100	—
Singapore dollar (SGD)	SGD	8,569	$	6,300	—


	September 30, 2022
	Contract Amount				Fair Value
	Foreign Currency		USD		USD
		(In thousands)
Sell foreign currency:

Euro (EUR)	EUR	13,500	$	13,158	—
Buy foreign currency:
British pound (GBP)	GBP	11,848	$	13,100	—
Singapore dollar (SGD)	SGD	6,169	$	4,300	—

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Gain (loss) on foreign currency forward contracts	$	1,625	$	(2,748)	$	2,064

Cash, Cash Equivalents and Marketable Securities

12 Months Ended

Sep. 30, 2023

Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents and Marketable Securities

The following is a summary of cash, cash equivalents and marketable securities at September 30, 2023 and 2022:


	September 30, 2023				September 30, 2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In thousands)
Cash and Cash Equivalents:
Cash	$	113,157	$	113,157	$	113,888	$	113,888
Money market funds	23,621		23,621		19,314		19,314


Total	$	136,778	$	136,778	$	133,202	$	133,202
Marketable Securities:
Marketable securities	$	31,100	$	33,014	$	25,956	$	24,515

The assets included in marketable securities represent long-term marketable equity securities held under a supplemental retirement and savings plan for certain officers and senior management employees, which are distributed upon termination or retirement of the employees. These investments are treated as trading securities and recorded at fair value.

Derivative Financial Instruments - Summary of Outstanding Forward Foreign Currency Contracts by Currency (Details) - Foreign Currency Forward Contracts - Not Designated as Hedging Instrument € in Thousands, £ in Thousands, $ in Thousands, $ in Thousands	Sep. 30, 2023 USD ($)	Sep. 30, 2023 EUR (€)	Sep. 30, 2023 GBP (£)	Sep. 30, 2023 SGD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 EUR (€)	Sep. 30, 2022 GBP (£)	Sep. 30, 2022 SGD ($)
Foreign Exchange Contracts To Sell European Euro for US Dollar \| Short
Derivative [Line Items]
Contract amount of forward foreign currency contracts	$ 13,621	€ 12,900			$ 13,158	€ 13,500
Fair value of forward foreign currency contracts to sell and buy foreign currency	0				0
Foreign Exchange Contracts To Purchase British Pounds With US Dollars \| Long
Derivative [Line Items]
Contract amount of forward foreign currency contracts	13,100		£ 10,700		13,100		£ 11,848
Fair value of forward foreign currency contracts to sell and buy foreign currency	0				0
Foreign Exchange Contracts To Purchase Singapore Dollars With United States Dollars \| Long
Derivative [Line Items]
Contract amount of forward foreign currency contracts	6,300			$ 8,569	4,300			$ 6,169
Fair value of forward foreign currency contracts to sell and buy foreign currency	$ 0				$ 0

Commitments - Additional Information (Details)	12 Months Ended
Commitments - Additional Information (Details)	Sep. 30, 2023 executive
Commitments and Contingencies Disclosure [Abstract]
Number of executives in a management agreement providing for certain payments and other benefits in the event of a qualified change	19

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Statement of Cash Flows [Abstract]
Cash paid for income taxes, refunds	$ 640	$ 1,090	$ 464

Composition of Certain Financial Statement Captions (Tables)

12 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Property, Plant and Equipment

The following table presents the composition of property and equipment, net and other accrued liabilities at September 30, 2023 and 2022:


	September 30,
	2023		2022
	(In thousands)
Property and equipment:
Data processing equipment and software	$	69,928	$	76,335
Office furniture and equipment	12,296		14,790
Leasehold improvements	16,743		21,286
Less: accumulated depreciation and amortization	(88,001)		(94,831)
Total	$	10,966	$	17,580

Other accrued liabilities:
Interest payable	$	20,770	$	21,314
Current operating leases	16,336		19,369
Other	22,372		25,565
Total	$	59,478	$	66,248

Leases - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Assets
Operating lease, right-of-use asset	$ 25,703	$ 36,688
Liabilities
Operating lease liabilities, Current	16,336	19,369
Operating lease liabilities, Non-current	23,903	39,192
Operating Lease, Liability, Total	$ 40,239	$ 58,561
Operating lease right-of-use assets
Other accrued liabilities
Operating lease liabilities

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Revenue	$ 1,513,557	$ 1,377,270	$ 1,316,536
Operating expenses:
Cost of revenues	311,053	302,174	332,462
Research and development	159,950	146,758	171,231
Selling, general and administrative	400,565	383,863	396,281
Amortization of intangible assets	1,100	2,061	3,255
Restructuring charges	0	0	7,957
Gains on product line asset sales and business divestiture	(1,941)	0	(100,139)
Total operating expenses	870,727	834,856	811,047
Operating income	642,830	542,414	505,489
Interest expense, net	(95,546)	(68,967)	(40,092)
Other income (expense), net	6,340	(2,138)	7,745
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	553,624	471,309	473,142
Provision for income taxes	124,249	97,768	81,058
Net income	429,375	373,541	392,084
Other comprehensive income (loss):
Foreign currency translation adjustments	22,557	(48,848)	7,141
Comprehensive income	$ 451,932	$ 324,693	$ 399,225
Basic earnings per share (in dollars per share)	$ 17.18	$ 14.34	$ 13.65
Shares used in computing basic earnings per share (in shares)	24,986	26,042	28,734
Diluted earnings per share (in dollars per share)	$ 16.93	$ 14.18	$ 13.40
Shares used in computing diluted earnings per share (in shares)	25,367	26,347	29,260
Operating Segments
Revenues:
Revenue	$ 1,513,557	$ 1,377,270	$ 1,316,536
Operating expenses:
Total operating expenses	747,721	717,440	787,517
Operating income	765,836	659,830	529,019
On-premises and SaaS software
Revenues:
Revenue	640,182	564,751	517,888
On-premises and SaaS software \| Operating Segments
Revenues:
Revenue	640,182	564,751	517,888
Professional services
Revenues:
Revenue	99,547	105,876	144,501
Professional services \| Operating Segments
Revenues:
Revenue	99,547	105,876	144,501
Scores Products
Revenues:
Revenue	773,828	706,643	654,147
Scores Products \| Operating Segments
Revenues:
Revenue	$ 773,828	$ 706,643	$ 654,147

Term Loan - Future Principal Payments (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
2026	$ 400,000
Term loan \| Unsecured Debt
Line of Credit Facility [Line Items]
2024	15,000
2025	15,000
2026	243,750
Term Loan Borrowing	$ 273,750

Derivative Financial Instruments - Additional Information (Details) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Derivative [Line Items]
Short-term forward contracts, average maturities at inception	3 months
Foreign Currency Forward Contracts
Derivative [Line Items]
Forward foreign currency contracts fair value	$ 0	$ 0

Business Divestiture	12 Months Ended
Business Divestiture	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Business Divestiture	2. Product Line Asset Sales and Business Divestiture During fiscal 2023, we sold certain assets related to our Siron compliance business within our Software segment, and recorded a gain of $1.9 million. During fiscal 2021, we sold our Collections and Recovery (“C&R”) business to Jonas Collections and Recovery Inc. (“Jonas”), a company in the Jonas Software operating group of Constellation Software Inc. In addition, during fiscal 2021, we sold all assets related to our cyber risk score operations and we sold certain assets related to our Software operations to an affiliated joint venture in China. The gains recognized from these sales were $100.1 million, which were recorded in gains on product line asset sales and business divestiture within the accompanying consolidated statements of income and comprehensive income. The C&R business and the assets sold were part of our Software segment.

Fair Value Measurements

12 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is defined as the price that would be received from the sale of an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The accounting guidance establishes a three-level hierarchy for disclosure that is based on the extent and level of judgment used to estimate the fair value of assets and liabilities.

•Level 1 — uses unadjusted quoted prices that are available in active markets for identical assets or liabilities. Our Level 1 assets were comprised of money market funds and certain marketable securities and our Level 1 liabilities included senior notes as of September 30, 2023 and 2022.

•Level 2 — uses inputs other than quoted prices included in Level 1 that are either directly or indirectly observable through correlation with market data. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and inputs to valuation models or other pricing methodologies that do not require significant judgment because the inputs used in the model, such as interest rates and volatility, can be corroborated by readily observable market data. We did not have any assets or liabilities that are valued using inputs identified under a Level 2 hierarchy as of September 30, 2023 and 2022.

•Level 3 — uses one or more significant inputs that are unobservable and supported by little or no market activity, and that reflect the use of significant management judgment. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques, and significant management judgment or estimation. We did not have any assets or liabilities that are valued using inputs identified under a Level 3 hierarchy as of September 30, 2023 and 2022.

The following tables represent financial assets that we measured at fair value on a recurring basis at September 30, 2023 and 2022:


September 30, 2023	Active Markets for Identical Instruments (Level 1)		Fair Value as of September 30, 2023
	(In thousands)
Assets:
Cash equivalents (1)	$	23,621	$	23,621
Marketable securities (2)	33,014		33,014
Total	$	56,635	$	56,635


September 30, 2022	Active Markets for Identical Instruments (Level 1)		Fair Value as of September 30, 2022
	(In thousands)
Assets:
Cash equivalents (1)	$	19,314	$	19,314
Marketable securities (2)	24,515		24,515
Total	$	43,829	$	43,829

(1)Included in cash and cash equivalents on our consolidated balance sheets at September 30, 2023 and 2022. Not included in these tables are cash deposits of $113.2 million and $113.9 million at September 30, 2023 and 2022, respectively.

(2)Represents securities held under a supplemental retirement and savings plan for certain officers and senior management employees, which are distributed upon termination or retirement of the employees. Included in marketable securities on our consolidated balance sheets at September 30, 2023 and 2022.

See Note 9 for the fair value of our senior notes.

There were no transfers between Level 1, Level 2, and Level 3 of the fair value hierarchy during the years ended September 30, 2023, 2022 or 2021.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Leases - Additional Detail (Details)	Sep. 30, 2023
Leases [Abstract]
Lease term (in years)	12 months

Senior Notes - Future Principal Payments (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Debt Instrument [Line Items]
2026	$ 400,000
Senior Notes
Debt Instrument [Line Items]
2027	0
2028	900,000
Total	$ 1,300,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Contingencies	12 Months Ended
Contingencies	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	ContingenciesWe are in disputes with certain customers regarding amounts owed in connection with the sale of certain of our products and services. We also have had claims asserted by former employees relating to compensation and other employment matters. We are also involved in various other claims and legal actions arising in the ordinary course of business. We record litigation accruals for legal matters which are both probable and estimable. For legal proceedings for which there is a reasonable possibility of loss (meaning those losses for which the likelihood is more than remote but less than probable), we have determined we do not have

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Pay vs Performance Disclosure
Net income	$ 429,375	$ 373,541	$ 392,084

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Revenue from Contract with Customer (Policies)	12 Months Ended
Revenue from Contract with Customer (Policies)	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	Contracts with Customers Our revenue is primarily derived from on-premises software and SaaS subscriptions, professional services and scoring services. For contracts with customers that contain various combinations of products and services, we evaluate whether the products or services are distinct — distinct products or services will be accounted for as separate performance obligations, while non-distinct products or services are combined with others to form a single performance obligation. For contracts with multiple performance obligations, the transaction price is allocated to each performance obligation on a relative standalone selling price (“SSP”) basis. Revenue is recognized when control of the promised goods or services is transferred to our customers. Our on-premises software is primarily sold on a subscription basis, which includes a term-based license and post-contract support or maintenance, both of which generally represent distinct performance obligations and are accounted for separately. The transaction price is either a fixed fee, or a usage-based fee — sometimes subject to a guaranteed minimum. When the amount is fixed, including the guaranteed minimum in a usage-based fee, license revenue is recognized at the point in time when the software is made available to the customer. Maintenance revenue is recognized ratably over the contract period as customers simultaneously consume and receive benefits. Any usage-based fees not subject to a guaranteed minimum or earned in excess of the minimum amount are recognized when the subsequent usage occurs. We occasionally sell software arrangements consisting of on-premises perpetual licenses and maintenance. License revenue is recognized at a point in time when the software is made available to the customer and maintenance revenue is recognized ratably over the contract term. Our SaaS products provide customers with access to and standard support for our software on a subscription basis, delivered through our own infrastructure or third-party cloud services. The SaaS transaction contracts typically include a guaranteed minimum fee per period that allows up to a certain level of usage and a consumption-based variable fee in excess of the minimum threshold; or a consumption-based variable fee not subject to a minimum threshold. The nature of our SaaS arrangements is to provide continuous access to our hosted solutions in the cloud, i.e., a stand-ready obligation that comprises a series of distinct service periods (e.g., a series of distinct daily, monthly or annual periods of service). We estimate the total variable consideration at contract inception — subject to any constraints that may apply — and update the estimates as new information becomes available and recognize the amount ratably over the SaaS service period, unless we determine it is appropriate to allocate the variable amount to each distinct service period and recognize revenue as each distinct service period is performed. Our professional services include software implementation, consulting, model development and training. Professional services are sold either standalone, or together with other products or services and generally represent distinct performance obligations. The transaction price can be a fixed amount or a variable amount based upon the time and materials expended. Revenue on fixed-price services is recognized using an input method based on labor hours expended, which we believe provides a faithful depiction of the transfer of services. Revenue on services provided on a time and materials basis is recognized by applying the “right-to-invoice” practical expedient as the amount to which we have a right to invoice the customer corresponds directly with the value of our performance to the customer. Our scoring services include both business-to-business and business-to-consumer offerings. Our business-to-business scoring services typically include a license that grants consumer reporting agencies the right to use our scoring solutions in exchange for a usage-based royalty. Revenue is generally recognized when the usage occurs. Business-to-consumer offerings provide consumers with access to their FICO® Scores and credit reports, as well as other value-add services. These are provided as either a one-time or ongoing subscription service renewed monthly or annually, all with a fixed consideration. The nature of the subscription service is a stand-ready obligation to generate credit reports, provide credit monitoring, and other services for our customers, which comprises a series of distinct service periods (e.g., a series of distinct daily, monthly or annual periods of service). Revenue from one-time or monthly subscription services is recognized during the period when service is performed. Revenue from annual subscription services is recognized ratably over the subscription period.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

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+ Details

Accelerated Share Repurchase (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Jun. 17, 2021	Aug. 31, 2021	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2021
Equity, Class of Treasury Stock [Line Items]
Payments for Repurchase of Common Stock			$ 405,526	$ 1,104,180	$ 874,179
Accelerated Share Repurchase Agreement Percentage	80.00%
Accelerated Share Repurchases Agreement Amount	$ 200,000
June17 2021 Accelerated share repurchase agreement
Equity, Class of Treasury Stock [Line Items]
Payments for Repurchase of Common Stock	$ 200,000
Stock Repurchased and Retired During Period, Shares	319,400	70,127			389,527
Stock Repurchase Program, Remaining Authorized Repurchase Amount						$ 40,000

Stock-Based Employee Benefit Plans - Summary of ESPP activities (Details) - $ / shares	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP, Discount from Market Price, Purchase Date	15.00%
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP, Discount from Market Price, Purchase Date	85.00%
ESPP, Shares Issued in Period	21,876	32,528	42,402
ESPP, Per Share Weighted Average Price of Shares Purchased	$ 646.37	$ 393.95	$ 389.61

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in-Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning Balance (in shares) at Sep. 30, 2020		29,096
Beginning Balance at Sep. 30, 2020	$ 331,082	$ 291	$ 1,218,583	$ (2,997,856)	$ 2,193,059	$ (82,995)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	111,700		111,700
Issuance of treasury stock under employee stock plans (in shares)		349
Issuance of treasury stock under employee stock plans	(70,727)	$ 4	(88,953)	18,222
Repurchases of common stock (in shares)		(1,877)
Repurchases of common stock	(882,222)	$ (19)	(3,982)	(878,221)
Net income	392,084				392,084
Foreign currency translation adjustments	7,141					7,141
Ending Balance (in shares) at Sep. 30, 2021		27,568
Ending Balance at Sep. 30, 2021	(110,942)	$ 276	1,237,348	(3,857,855)	2,585,143	(75,854)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	115,355		115,355
Issuance of treasury stock under employee stock plans (in shares)		264
Issuance of treasury stock under employee stock plans	(34,916)	$ 3	(53,115)	18,196
Repurchases of common stock (in shares)		(2,678)
Repurchases of common stock	(1,096,137)	$ (27)	0	(1,096,110)
Net income	373,541				373,541
Foreign currency translation adjustments	(48,848)					(48,848)
Ending Balance (in shares) at Sep. 30, 2022		25,154
Ending Balance at Sep. 30, 2022	(801,947)	$ 252	1,299,588	(4,935,769)	2,958,684	(124,702)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	123,847		123,847
Issuance of treasury stock under employee stock plans (in shares)		231
Issuance of treasury stock under employee stock plans	(54,475)	$ 2	(72,722)	18,245
Repurchases of common stock (in shares)		(615)
Repurchases of common stock	(407,347)	$ (6)		(407,341)
Adjustments to Additional Paid in Capital, Other			0
Net income	429,375				429,375
Foreign currency translation adjustments	22,557					22,557
Ending Balance (in shares) at Sep. 30, 2023		24,770
Ending Balance at Sep. 30, 2023	$ (687,990)	$ 248	$ 1,350,713	$ (5,324,865)	$ 3,388,059	$ (102,145)

Earnings per Share - Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Numerator for basic and diluted earnings per share
Net income	$ 429,375	$ 373,541	$ 392,084
Denominator — share:
Basic weighted-average shares (in shares)	24,986	26,042	28,734
Effect of dilutive securities (in shares)	381	305	526
Diluted weighted-average shares (in shares)	25,367	26,347	29,260
Diluted earnings per share (in dollars per share)	$ 16.93	$ 14.18	$ 13.40
Basic earnings per share (in dollars per share)	$ 17.18	$ 14.34	$ 13.65

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Deferred tax assets:
Loss and credit carryforwards	$ 12,309	$ 19,122
Compensation benefits	30,490	29,344
Operating lease liabilities	9,396	13,065
Research and development costs	34,730	0
Other assets	17,327	14,744
Deferred tax assets, gross	104,252	76,275
Less: valuation allowance	(2,183)	(16,635)
Total deferred tax assets	102,069	59,640
Deferred tax liabilities:
Intangible assets	(7,226)	(14,263)
Deferred commission	(14,017)	(12,419)
Operating lease right-of-use assets	(6,228)	(8,798)
Other liabilities	(15,462)	(12,357)
Total deferred tax liabilities	(42,933)	(47,837)
Deferred tax assets, net	$ 59,136	$ 11,803

Composition of Certain Financial Statement Captions

12 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Composition of Certain Financial Statement Captions

The following table presents the composition of property and equipment, net and other accrued liabilities at September 30, 2023 and 2022:


	September 30,
	2023		2022
	(In thousands)
Property and equipment:
Data processing equipment and software	$	69,928	$	76,335
Office furniture and equipment	12,296		14,790
Leasehold improvements	16,743		21,286
Less: accumulated depreciation and amortization	(88,001)		(94,831)
Total	$	10,966	$	17,580

Other accrued liabilities:
Interest payable	$	20,770	$	21,314
Current operating leases	16,336		19,369
Other	22,372		25,565
Total	$	59,478	$	66,248

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Revenue from Contracts with Customers - Disaggregated Revenue (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2023 USD ($) customer	Sep. 30, 2022 USD ($) customer	Sep. 30, 2021 USD ($) customer
Disaggregation of Revenue [Line Items]
Revenue	$ 1,513,557	$ 1,377,270	$ 1,316,536
Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	100.00%	100.00%	100.00%
Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, number of customers \| customer	3	2	2
Accounts Receivable \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, number of customers \| customer	1	0
Scores
Disaggregation of Revenue [Line Items]
Revenue	$ 773,828	$ 706,643	$ 654,147
Software
Disaggregation of Revenue [Line Items]
Revenue	$ 739,729	$ 670,627	$ 662,389
TransUnion Equifax and Experian customers \| Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	41.00%	39.00%	38.00%
On-Premises Software
Disaggregation of Revenue [Line Items]
Revenue	$ 292,763	$ 280,649	$ 266,452
On-Premises Software \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	46.00%	50.00%	51.00%
SaaS Software
Disaggregation of Revenue [Line Items]
Revenue	$ 347,419	$ 284,102	$ 251,436
SaaS Software \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	54.00%	50.00%	49.00%
On-premises and SaaS software
Disaggregation of Revenue [Line Items]
Revenue	$ 640,182	$ 564,751	$ 517,888
On-premises and SaaS software \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	100.00%	100.00%	100.00%
On-premises and SaaS software \| Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenue	$ 72,843	$ 75,647	$ 59,024
On-premises and SaaS software \| Transferred at Point in Time \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	11.00%	13.00%	11.00%
On-premises and SaaS software \| Transferred over Time
Disaggregation of Revenue [Line Items]
Revenue	$ 567,339	$ 489,104	$ 458,864
On-premises and SaaS software \| Transferred over Time \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	89.00%	87.00%	89.00%
Platform Software
Disaggregation of Revenue [Line Items]
Revenue	$ 154,750	$ 116,252	$ 66,884
Platform Software \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	24.00%	21.00%	13.00%
Non-Platform Software
Disaggregation of Revenue [Line Items]
Revenue	$ 485,432	$ 448,499	$ 451,004
Non-Platform Software \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	76.00%	79.00%	87.00%
Business-to-business Scores
Disaggregation of Revenue [Line Items]
Revenue	$ 560,995	$ 475,442	$ 446,538
Business-to-business Scores \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	72.00%	67.00%	68.00%
Business-to-consumer Scores
Disaggregation of Revenue [Line Items]
Revenue	$ 212,833	$ 231,201	$ 207,609
Business-to-consumer Scores \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	28.00%	33.00%	32.00%
Scores Products
Disaggregation of Revenue [Line Items]
Revenue	$ 773,828	$ 706,643	$ 654,147
Scores Products \| Revenue from Contract with Customer Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	100.00%	100.00%	100.00%
Americas
Disaggregation of Revenue [Line Items]
Revenue	$ 1,286,950	$ 1,130,711	$ 1,049,933
Americas \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	85.00%	82.00%	80.00%
Americas \| Scores
Disaggregation of Revenue [Line Items]
Revenue	$ 763,874	$ 691,006	$ 633,497
Americas \| Software
Disaggregation of Revenue [Line Items]
Revenue	523,076	439,705	416,436
EMEA
Disaggregation of Revenue [Line Items]
Revenue	$ 141,364	$ 147,299	$ 190,396
EMEA \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	9.00%	11.00%	14.00%
EMEA \| Scores
Disaggregation of Revenue [Line Items]
Revenue	$ 5,802	$ 4,475	$ 11,881
EMEA \| Software
Disaggregation of Revenue [Line Items]
Revenue	135,562	142,824	178,515
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	$ 85,243	$ 99,260	$ 76,207
Asia Pacific \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	6.00%	7.00%	6.00%
Asia Pacific \| Scores
Disaggregation of Revenue [Line Items]
Revenue	$ 4,152	$ 11,162	$ 8,769
Asia Pacific \| Software
Disaggregation of Revenue [Line Items]
Revenue	$ 81,091	$ 88,098	$ 67,438

Nature of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Estimated Useful Life of Property and Equipment

Depreciation and amortization charges are calculated using the straight-line method over the following estimated useful lives:


	Estimated Useful Life
Data processing equipment and software	3 years	to	6 years
Office furniture and equipment	3 years	to	7 years
Leasehold improvements	Shorter of estimated useful life or lease term

Estimated Useful Life of Definite-Lived Intangible Assets

We amortize our finite-lived intangible assets which result from our acquisitions over the following estimated useful lives:


	Estimated Useful Life
Completed technology	5 years	to	10 years
Customer contracts and relationships	5 years	to	10 years
Non-compete agreements	2 years

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Sep. 30, 2023	Oct. 27, 2023	Mar. 31, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	1-11689
Entity Registrant Name	Fair Isaac Corp
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-1499887
Entity Address, Address Line One	5 West Mendenhall, Suite 105
Entity Address, City or Town	Bozeman,
Entity Address, State or Province	MT
Entity Address, Postal Zip Code	59715
City Area Code	406
Local Phone Number	-7276
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	FICO
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 14,169,078,627
Entity Common Stock, Shares Outstanding		24,713,557
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0000814547
Current Fiscal Year End Date	--09-30
Documents Incorporated by Reference	Portions of the Registrant’s definitive proxy statement relating to its 2024 Annual Meeting of Stockholders (“2024 Proxy Statement”) are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. The 2024 Proxy Statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
Document Financial Statement Error Correction [Flag]	false

Earnings per Share - Additional Information (Details) - shares shares in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Antidiluted Options Excluded from EPS Calculation	14	32	12

Income Taxes

12 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

The provision for income taxes was as follows during fiscal 2023, 2022 and 2021:


	Year ended September 30,
	2023		2022		2021
	(In thousands)
Current:
Federal	$	112,456	$	50,403	$	43,437
State	16,844		8,952		7,961
Foreign	42,327		30,597		35,615
	171,627		89,952		87,013
Deferred:
Federal	(37,884)		8,165		(4,602)
State	(15,025)		507		(948)
Foreign	5,531		(856)		(405)
	(47,378)		7,816		(5,955)
Total provision	$	124,249	$	97,768	$	81,058

The foreign provision was based on foreign pre-tax earnings of $172.7 million, $136.0 million and $62.1 million in fiscal 2023, 2022 and 2021, respectively. Current foreign tax expense related to foreign tax withholdings was $12.3 million, $9.5 million and $7.5 million in fiscal 2023, 2022 and 2021, respectively. Foreign withholding tax and related foreign tax credits are included in current tax expense above.

Deferred tax assets and liabilities at September 30, 2023 and 2022 were as follows:


	September 30,
	2023		2022
	(In thousands)
Deferred tax assets:
Loss and credit carryforwards	$	12,309	$	19,122
Compensation benefits	30,490		29,344

Operating lease liabilities	9,396		13,065
Research and development costs	34,730		—
Other assets	17,327		14,744
	104,252		76,275
Less: valuation allowance	(2,183)		(16,635)
Total deferred tax assets	102,069		59,640
Deferred tax liabilities:
Intangible assets	(7,226)		(14,263)
Deferred commission	(14,017)		(12,419)

Operating lease right-of-use assets	(6,228)		(8,798)
Other liabilities	(15,462)		(12,357)
Total deferred tax liabilities	(42,933)		(47,837)
Deferred tax assets, net	$	59,136	$	11,803

Based upon the level of historical taxable income and projections for future taxable income over the periods that the deferred tax assets will reverse, management believes it is more likely than not that we will realize the benefits of the deferred tax assets, net of the existing valuation allowance at September 30, 2023.

As of September 30, 2023, we had available U.S. federal net operating loss (“NOL”) carryforwards of approximately $4.1 million. The U.S. federal NOLs were acquired in connection with our acquisitions of Adeptra in fiscal 2012 and Infoglide in fiscal 2013. The U.S. federal NOL carryforward will expire at various dates beginning in fiscal 2024, if not utilized. Utilization of the U.S. federal NOL is subject to an annual limitation due to the “change in ownership” provisions of the Internal Revenue Code of 1986, as amended. We had available an excess California state research credit of approximately $9.2 million as of September 30, 2023. There was approximately $2.2 million of foreign tax credit carryforwards as of September 30, 2023. The excess foreign tax credit can be carried forward for 10 years; however, based on enacted law and expected future usage, we have recorded a valuation allowance of $2.2 million as of September 30, 2023.

A reconciliation of the provision for income taxes, with the amount computed by applying the U.S. federal statutory income tax rate of 21% to income before provision for income taxes for fiscal 2023, 2022 and 2021 is shown below:


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Income tax provision at U.S. federal statutory rate	$	116,261	$	98,975	$	99,360
State income taxes, net of U.S. federal benefit	14,135		8,359		7,815
Foreign tax rate differential	9,489		3,058		1,490
Research credits	(3,600)		(5,932)		(6,795)



Valuation allowance	(14,451)		(11,768)		3,839

Excess tax benefits relating to share-based compensation	(949)		702		(15,573)

GILTI, FDII, BEAT and FTC	(9,010)		(2,491)		(4,958)
Other	12,374		6,865		(4,120)
Recorded income tax provision	$	124,249	$	97,768	$	81,058

As of September 30, 2023, we had approximately $27.2 million of unremitted earnings of non-U.S. subsidiaries. The Company has not provided deferred tax liabilities for foreign withholding taxes and certain state income taxes on the undistributed earnings and profits from certain non-U.S. subsidiaries that will be permanently reinvested outside the United States. In the event these earnings are later remitted to the U.S., any estimated withholding tax and state income tax due upon remittance of those earnings is expected to be immaterial to the income tax provision. For jurisdictions not permanently reinvested, the Company expects the net impact of any future repatriations to be immaterial to the Company’s overall tax liability.

Unrecognized Tax Benefit for Uncertain Tax Positions

We conduct business globally and, as a result, file income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business, we are subject to examination by taxing authorities. With a few exceptions, we are no longer subject to U.S. federal, state, local, or foreign income tax examinations for fiscal years prior to 2019.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Gross unrecognized tax benefits at beginning of year	$	12,980	$	10,897	$	7,994
Gross increases for tax positions in prior years	—		593		—
Gross decreases for tax positions in prior years	(1,127)		—		(385)
Gross increases based on tax positions related to the current year	3,650		3,250		5,273
Decreases for settlements and payments	(523)		—		(643)
Decreases due to statute expiration	(1,131)		(1,760)		(1,342)
Gross unrecognized tax benefits at end of year	$	13,849	$	12,980	$	10,897

We had $13.8 million of total unrecognized tax benefits as of September 30, 2023, including $12.7 million of tax benefits that, if recognized, would impact the effective tax rate. Although the timing and outcome of audit settlements are uncertain, it is unlikely there will be a significant reduction of the uncertain tax benefits in the next twelve months.

We recognize interest expense and penalties related to unrecognized tax benefits and penalties as part of the provision for income taxes in our consolidated statements of income and comprehensive income. We recognize interest earned related to income tax matters as interest income in our consolidated statements of income and comprehensive income. As of September 30, 2023, we had accrued interest of $0.9 million related to the unrecognized tax benefits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Paragraph 1
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill and Intangible Assets (Tables)

12 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Subject to Amortization

Intangible assets that are subject to amortization consisted of the following at September 30, 2023 and 2022:


	September 30, 2023							September 30, 2022
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted Average Life in Years	Gross Carrying Amount		Accumulated Amortization		Net		Weighted Average Life in Years
	(In thousands, except average life)
Completed technology	$	69,706	$	(69,289)	$	417	5	$	67,760	$	(66,843)	$	917	5
Customer contracts and relationships	3,000		(2,500)		500		5	3,000		(1,900)		1,100		5


	$	72,706	$	(71,789)	$	917	5	$	70,760	$	(68,743)	$	2,017	5

Schedule of Amortization Expense

Amortization expense consisted of the following:


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Completed technology	$	500	$	500	$	1,027
Customer contracts and relationships	600		1,561		2,082

Non-compete agreements	—		—		146
Total	$	1,100	$	2,061	$	3,255

Schedule of Goodwill

The following table summarizes changes to goodwill during fiscal 2023 and 2022, both in total and as allocated to our segments. We have not recognized any goodwill impairment losses to date.


	Scores		Software		Total
	(In thousands)
Balance at September 30, 2021	$	146,648	$	641,537	$	788,185


Foreign currency translation adjustment	—		(27,118)		(27,118)
Balance at September 30, 2022	146,648		614,419		761,067


Foreign currency translation adjustment	—		12,260		12,260
Balance at September 30, 2023	$	146,648	$	626,679	$	773,327

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Retirement Benefits [Abstract]
Eligible employees contribution to 401(k) plan (up to 25%)	25.00%
Employer contributions into 401(k) plans	$ 8.9	$ 8.2	$ 9.8
Employee incentive plans expenses	$ 57.8	$ 55.7	$ 58.1

Senior Notes - Summary of Senior Notes (Details) - USD ($)	Dec. 17, 2021	Dec. 06, 2019	May 08, 2018
May 2018 Senior Notes
Debt Instrument [Line Items]
Senior Notes issued in a private placement to a group of institutional investors			$ 400,000,000
Interest rate			5.25%
Maturity date			May 15, 2026
December 2019 Senior Notes
Debt Instrument [Line Items]
Senior Notes issued in a private placement to a group of institutional investors		$ 350,000,000
Interest rate		4.00%
Maturity date		Jun. 15, 2028
Senior Notes December 2021
Debt Instrument [Line Items]
Senior Notes issued in a private placement to a group of institutional investors	$ 550,000,000
Interest rate	4.00%
Maturity date	Jun. 15, 2028

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Stock-Based Employee Benefit Plans - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP, purchase price of the stock as a percentage of fair market value on the exercise date	15.00%
Share-based compensation expense	$ 123.8	$ 115.4	$ 112.5
Tax benefit related to share-based compensation expense	13.8	$ 13.5	$ 14.0
Unrecognized compensation cost related to non-vested share-based compensation arrangements	$ 194.3
Unrecognized compensation cost, weighted average recognition period	2 years 6 months 21 days
Cash received from stock option exercises	$ 8.1
Tax benefit from the stock option exercises	$ 4.0
Weighted average fair value of options granted (in dollars per share)	$ 289.54	$ 134.91	$ 139.11
Number of options that had exercise prices lower than the market price of common stock (in shares)	227,000
Market price of common stock (in dollars per share)	$ 868.53
Total intrinsic value of options exercised	$ 16.7	$ 14.5	$ 15.8
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option awards vesting period	4 years
Restricted Stock Units Subject To Market or Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option awards vesting period	3 years
Restricted stock units and non-vested shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of restricted stock units, performance stock units, and market stock units (in dollars per share)	$ 620.51	$ 416.62	$ 505.70
Total intrinsic value of restricted stock units, performance stock units, and market stock units	$ 101.1	$ 97.3	$ 156.6
Performance stock units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of restricted stock units, performance stock units, and market stock units (in dollars per share)	$ 615.45	$ 407.49	$ 506.91
Total intrinsic value of restricted stock units, performance stock units, and market stock units	$ 40.3	$ 25.9	$ 34.7
Market stock units (MSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of restricted stock units, performance stock units, and market stock units (in dollars per share)	$ 822.96	$ 493.66	$ 471.16
Total intrinsic value of restricted stock units, performance stock units, and market stock units	$ 42.2	$ 7.8	$ 34.5
Market stock units (MSUs) \| Performance period year one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	1 year
Market stock units (MSUs) \| Performance period year two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	2 years
Market stock units (MSUs) \| Performance period year three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option awards vesting period	3 years
Minimum \| Performance stock units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance condition payout (percent)	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option awards vesting period	4 years
Maximum \| Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option awards term	10 years
Maximum \| Performance stock units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance condition payout (percent)	200.00%
2012 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grants under stock plan (in shares)	4,726,001
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grants under stock plan (in shares)	852,896
Authorized shares of common stock for grant under stock plan (in shares)	1,000,000
ESPP, percentage of salary withheld through payroll deductions to purchase FICO common stock	15.00%
ESPP, purchase price of the stock as a percentage of fair market value on the exercise date	85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Offering Period	6 months
Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized shares of common stock for grant under stock plan (in shares)	5,900,000

Revolving Line of Credit

12 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Revolving Line of Credit

We have a $600 million unsecured revolving line of credit and a $300 million unsecured term loan with a syndicate of banks that mature on August 19, 2026. Borrowings under the revolving line of credit and term loan can be used for working capital and general corporate purposes and may also be used for the refinancing of existing debt, acquisitions, and the repurchase of our common stock. The term loan requires principal payments in consecutive quarterly installments of $3.75 million on the last business day of each quarter. In November 2022, we amended our credit agreement to replace the LIBOR reference rate with the Secured Overnight Financing Rate (“SOFR”) reference rate. Interest rates on amounts borrowed under the revolving line of credit and term loan are based on (i) an adjusted base rate, which is the greatest of (a) the prime rate, (b) the Federal Funds rate plus 0.5%, and (c) one-month adjusted term SOFR rate plus 1%, plus, in each case, an applicable margin, or (ii) an adjusted term SOFR rate plus an applicable margin. The applicable margin for base rate borrowings and for SOFR borrowings is determined based on our consolidated leverage ratio. The applicable margin for base rate borrowings ranges from 0% to 0.75% per annum and for SOFR borrowings ranges from 1% to 1.75% per annum. In addition, we must pay certain credit facility fees. The revolving line of credit and term loan contain certain restrictive covenants including a maximum consolidated leverage ratio of 3.5 to 1.0, subject to a step up to 4.0 to 1.0 following certain permitted acquisitions and subject to certain conditions, and a minimum interest coverage ratio of 3.0 to 1.0. The credit agreement also contains other covenants typical of unsecured credit facilities.

As of September 30, 2023, we had $300.0 million in borrowings outstanding under the revolving line of credit at a weighted-average interest rate of 6.678%, of which $35.0 million was classified as a current liability and $265.0 million was classified as a long-term liability. In addition, as of September 30, 2023, we had $273.8 million in outstanding balance under the term loan at an interest rate of 6.752%, of which $15.0 million was classified as a current liability and $258.8 million was classified as a long-term liability. The current and long-term revolving line of credit and term loan liabilities were recorded in current maturities on debt and long-term debt, respectively, within the accompanying consolidated balance sheets. We were in compliance with all financial covenants under this credit agreement as of September 30, 2023.

Future principal payments for the term loan are as follows:


Year Ending September 30,	(In thousands)
2024	$	15,000
2025	15,000
2026	243,750



Total	$	273,750

Goodwill and Intangible Assets - Summary of Changes to Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Goodwill [Roll Forward]
Beginning Balance	$ 761,067	$ 788,185
Foreign currency translation adjustment	12,260	(27,118)
Ending Balance	773,327	761,067
Software
Goodwill [Roll Forward]
Beginning Balance	614,419	641,537
Foreign currency translation adjustment	12,260	(27,118)
Ending Balance	626,679	614,419
Scores
Goodwill [Roll Forward]
Beginning Balance	146,648	146,648
Foreign currency translation adjustment	0	0
Ending Balance	$ 146,648	$ 146,648

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Leases - Related Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Operating cash outflow for operating leases	$ 19,780	$ 22,021	$ 23,260
Operating lease	$ 4,150	$ 7,505	$ 5,413

Revenue from Contracts with Customers - Contract Balances - Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Billed Receivables	$ 234,745	$ 203,351
Unbilled Receivables	203,896	165,386
Receivables Gross	438,641	368,737
Allowance for doubtful accounts	(4,978)	(4,218)	$ (4,154)
Net receivables	433,663	364,519
Accounts Receivable, net , noncurrent	(45,716)	(42,109)
Accounts receivable, net	387,947	322,410
Expense, Allowance for Credit Loss	1,475	2,300
Write-off	$ (715)	$ (2,236)

Accelerated Share Repurchase	12 Months Ended
Accelerated Share Repurchase	Sep. 30, 2023
Equity [Abstract]
Accelerated Share Repurchase	Accelerated Share RepurchaseWe have authorization to make repurchases of shares of our common stock from time to time in the open market or in negotiated transactions. As part of the broader share repurchase program, we entered into an accelerated share repurchase agreement (“ASR Agreement”) with a financial institution on June 17, 2021 to repurchase $200.0 million of our common stock. The ASR Agreement was accounted for as two separate transactions (1) a repurchase of common stock and (2) an equity-linked contract on our own stock. Pursuant to the ASR Agreement, we paid $200.0 million to the financial institution and received an initial delivery of 319,400 shares of common stock, which approximated 80% of the total number of expected shares to be repurchased under the ASR Agreement. The equity-linked contract for the remaining $40.0 million, representing remaining shares to be delivered under the ASR Agreement, was recorded as a reduction to stockholders’ equity as of June 30, 2021 and was settled in August 2021 with us receiving 70,127 additional shares. In total, 389,527 shares were repurchased under the ASR Agreement. We were not required to make any additional cash payments or delivery of common stock to the financial institution upon settlement of the agreement.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Nature of Business and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Principles of Consolidation and Basis of Presentation

The consolidated financial statements include the accounts of FICO and its subsidiaries. All intercompany accounts and transactions have been eliminated.

Use of Estimates

Cash and Cash Equivalents

Cash and cash equivalents consist of cash in banks and investments with an original maturity of 90 days or less at time of purchase.

Fair Value of Financial Instruments

Fair Value of Financial InstrumentsThe fair value of certain of our financial instruments, including cash and cash equivalents, receivables, other current assets, accounts payable, accrued compensation and employee benefits, other accrued liabilities and amounts outstanding under our revolving line of credit and term loan, approximate their carrying amounts because of the short-term maturity of these instruments.

Investments

Concentration of Risk

A significant portion of our revenues are derived from the sales of products and services to the financial services industries.

Property and Equipment


	Estimated Useful Life
Data processing equipment and software	3 years	to	6 years
Office furniture and equipment	3 years	to	7 years
Leasehold improvements	Shorter of estimated useful life or lease term

Internal-use Software

Internal-Use Software

Capitalized Software and Research and Development Costs

Goodwill and Intangible Assets

We amortize our finite-lived intangible assets which result from our acquisitions over the following estimated useful lives:


	Estimated Useful Life
Completed technology	5 years	to	10 years
Customer contracts and relationships	5 years	to	10 years
Non-compete agreements	2 years

Impairment of Long-Lived Assets

Revenue Recognition

See Note 11 for further discussion on revenues.

Income Taxes

Earnings per Share

Comprehensive Income

Foreign Currency and Derivative Financial Instruments

Share-Based Compensation

Share-Based CompensationWe measure share-based compensation cost at the grant date based on the fair value of the award and recognize it as expense, net of estimated forfeitures, over the vesting or service period, as applicable, of the stock award (generally three to four years).

Advertising and Promotion Costs

Advertising and Promotion CostsAdvertising and promotion costs are expensed as incurred and are included in selling, general and administrative expenses in the accompanying consolidated statements of income and comprehensive income.

New Accounting Pronouncements

Recent Accounting Pronouncements Not Yet Adopted

In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). ASU 2021-08 requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities from acquired contracts using the revenue recognition guidance under Accounting Standards Codification Topic 606, Revenue from Contacts with Customers, in order to align the recognition of a contract liability with the definition of a performance obligation. The standard is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, which means that it will be effective for our fiscal year beginning October 1, 2023. The adoption of ASU 2021-08 will not have a significant impact on our consolidated financial statements.

We do not expect that any other recently issued accounting pronouncements will have a significant effect on our financial statements.

Leases policy

We lease office space and data centers under operating lease arrangements, which constitute the majority of our lease obligations. For any lease with a lease term in excess of 12 months, the related lease assets and liabilities are recognized on our consolidated balance sheets as operating leases at the commencement of an agreement where it is determined that a lease exists. We have lease agreements that contain both lease and non-lease components, and we have elected to combine these components together and account for them as a single lease component for all classes of assets. Leases with a lease term of 12 months or less are not recorded on our consolidated balance sheets. Furthermore, we recognize lease expense for these leases on a straight-line basis over the lease term. Operating lease assets represent the right to use an underlying asset for the lease term and operating lease liabilities represent the obligation to make lease payments arising from the lease. These assets and liabilities are recognized based on the present value of future payments over the lease term at the commencement date. We use a collateralized incremental borrowing rate based on the information available at the commencement date, including the lease term, in determining the present value of future payments. In calculating the incremental borrowing rates, we consider recent ratings from credit agencies and current lease demographic information. Our operating leases also typically require payment of real estate taxes, common area maintenance, insurance and other operating costs as well as payments that are adjusted based on a consumer price index. These components comprise the majority of our variable lease cost and are excluded from the present value of our lease obligations. In instances where they are fixed, they are included due to our election to combine lease and non-lease components. Operating lease assets also include prepaid lease payments and initial direct costs, and are reduced by lease incentives. Our lease terms generally do not include options to extend or terminate the lease unless it is reasonably certain that the option will be exercised. Fixed payments may contain predetermined fixed rent escalations. We recognize the related rent expense on a straight-line basis from the commencement date to the end of the lease term.

Earnings per Share

12 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Earnings per Share

The following table presents reconciliations for the numerators and denominators of basic and diluted earnings per share (“EPS”) during fiscal 2023, 2022 and 2021:


	Year Ended September 30,
	2023		2022		2021
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net income	$	429,375	$	373,541	$	392,084
Denominator — share:
Basic weighted-average shares	24,986		26,042		28,734
Effect of dilutive securities	381		305		526
Diluted weighted-average shares	25,367		26,347		29,260
Earnings per share:
Basic	$	17.18	$	14.34	$	13.65
Diluted	$	16.93	$	14.18	$	13.40

Segment Information

12 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segment Information

We are organized into two reportable segments: Scores and Software. Although we sell solutions and services into a large number of end user product and industry markets, our reportable business segments reflect the primary method in which management organizes and evaluates internal financial information to make operating decisions and assess performance.

•Scores. This segment includes our business-to-business (“B2B”) scoring solutions and services which give our clients access to predictive credit and other scores that can be easily integrated into their transaction streams and decision-making processes. This segment also includes our business-to-consumer (“B2C”) scoring solutions, including our myFICO.com subscription offerings.

•Software. This segment includes pre-configured analytic and decision management solutions designed for a specific type of business need or process — such as account origination, customer management, customer engagement, fraud detection, and marketing — as well as associated professional services. This segment also includes FICO® Platform, a modular software offering designed to support advanced analytic and decision use cases, as well as stand-alone analytic and decisioning software that can be configured by our customers to address a wide variety of business use cases. These offerings are available to our customers as SaaS or as on-premises software.

Our chief operating decision maker (“CODM”), who is our Chief Executive Officer, evaluates segment financial performance based on segment revenues and segment operating income. Segment operating expenses consist of direct and indirect costs principally related to personnel, facilities, IT infrastructure, consulting, travel and depreciation. Indirect costs are allocated to the segments generally based on relative segment revenues, fixed rates established by management based upon estimated expense contribution levels and other assumptions that management considers reasonable. We do not allocate broad-based incentive expense, share-based compensation expense, restructuring and acquisition-related expense, amortization expense, various corporate charges and certain other income and expense measures to our segments. These income and expense items are not allocated because they are not considered in evaluating the segment’s operating performance. Our CODM does not evaluate the financial performance of each segment based on its respective assets or capital expenditures; rather, depreciation amounts are allocated to the segments from their internal cost centers as described above.

We have recast certain prior period amounts within this note to conform to the way we internally managed and monitored segment performance during the current fiscal year, reflecting immaterial movements of business activities between segments and changes in cost allocations.

The following tables summarize segment information for fiscal 2023, 2022 and 2021:


	Year Ended September 30, 2023
	Scores		Software		Unallocated Corporate Expenses		Total
	(In thousands)
Segment revenues:
On-premises and SaaS software	$	—	$	640,182	$	—	$	640,182
Professional services	—		99,547		—		99,547
Scores	773,828		—		—		773,828
Total segment revenues	773,828		739,729		—		1,513,557
Segment operating expense	(92,757)		(498,538)		(156,426)		(747,721)
Segment operating income	$	681,071	$	241,191	$	(156,426)	$	765,836
Unallocated share-based compensation expense							(123,847)
Unallocated amortization expense							(1,100)

Unallocated gain on product line asset sale							1,941
Operating income							642,830
Unallocated interest expense, net							(95,546)
Unallocated other income, net							6,340
Income before income taxes							$	553,624
Depreciation expense	$	485	$	9,550	$	71	$	10,106


	Year Ended September 30, 2022
	Scores		Software		Unallocated Corporate Expenses		Total
	(In thousands)
Segment revenues:
On-premises and SaaS software	$	—	$	564,751	$	—	$	564,751
Professional services	—		105,876		—		105,876
Scores	706,643		—		—		706,643
Total segment revenues	706,643		670,627		—		1,377,270
Segment operating expense	(87,288)		(487,505)		(142,647)		(717,440)
Segment operating income	$	619,355	$	183,122	$	(142,647)	659,830
Unallocated share-based compensation expense							(115,355)
Unallocated amortization expense							(2,061)


Operating income							542,414
Unallocated interest expense, net							(68,967)
Unallocated other expense, net							(2,138)
Income before income taxes							$	471,309
Depreciation expense	$	723	$	14,412	$	107	$	15,242


	Year Ended September 30, 2021
	Scores		Software		Unallocated Corporate Expenses		Total
	(In thousands)
Segment revenues:
On-premises and SaaS software	$	—	$	517,888	$	—	$	517,888
Professional services	—		144,501		—		144,501
Scores	654,147		—		—		654,147
Total segment revenues	654,147		662,389		—		1,316,536
Segment operating expense	(90,538)		(555,288)		(141,691)		(787,517)
Segment operating income	$	563,609	$	107,101	$	(141,691)	529,019
Unallocated share-based compensation expense							(112,457)
Unallocated amortization expense							(3,255)
Unallocated restructuring charges							(7,957)
Unallocated gains on product line asset sales and business divestiture							100,139
Operating income							505,489
Unallocated interest expense, net							(40,092)
Unallocated other income, net							7,745
Income before income taxes							$	473,142
Depreciation expense	$	667	$	19,505	$	147	$	20,319

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Goodwill and Intangible Assets

12 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Intangible assets that are subject to amortization consisted of the following at September 30, 2023 and 2022:


	September 30, 2023							September 30, 2022
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted Average Life in Years	Gross Carrying Amount		Accumulated Amortization		Net		Weighted Average Life in Years
	(In thousands, except average life)
Completed technology	$	69,706	$	(69,289)	$	417	5	$	67,760	$	(66,843)	$	917	5
Customer contracts and relationships	3,000		(2,500)		500		5	3,000		(1,900)		1,100		5


	$	72,706	$	(71,789)	$	917	5	$	70,760	$	(68,743)	$	2,017	5

Amortization expense associated with our intangible assets is reflected as a separate operating expense caption — amortization of intangible assets — and is excluded from cost of revenues and selling, general and administrative expenses within the accompanying consolidated statements of income and comprehensive income. Amortization expense consisted of the following:


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Completed technology	$	500	$	500	$	1,027
Customer contracts and relationships	600		1,561		2,082

Non-compete agreements	—		—		146
Total	$	1,100	$	2,061	$	3,255

At September 30, 2023, estimated future intangible asset amortization expense was $0.9 million, which will be recognized in fiscal 2024.

The following table summarizes changes to goodwill during fiscal 2023 and 2022, both in total and as allocated to our segments. We have not recognized any goodwill impairment losses to date.


	Scores		Software		Total
	(In thousands)
Balance at September 30, 2021	$	146,648	$	641,537	$	788,185


Foreign currency translation adjustment	—		(27,118)		(27,118)
Balance at September 30, 2022	146,648		614,419		761,067


Foreign currency translation adjustment	—		12,260		12,260
Balance at September 30, 2023	$	146,648	$	626,679	$	773,327

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 429,375	$ 373,541	$ 392,084
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	14,638	20,465	25,592
Share-based compensation	123,847	115,355	112,457
Deferred income taxes	(47,378)	7,816	(5,955)
Non-cash operating lease costs	14,708	15,922	16,102
Provision of doubtful accounts	1,475	2,800	652
Net (gain) loss on marketable securities	(2,908)	9,269	(4,569)
Net loss on sales and abandonment of property and equipment	547	193	333
Gains on product line asset sales and business divestiture	(1,941)	0	(100,139)
Changes in operating assets and liabilities:
Accounts receivable	(70,117)	(31,557)	24,496
Prepaid expenses and other assets	(11,904)	7,368	(5,722)
Accounts payable	2,236	(2,802)	(2,354)
Accrued compensation and employee benefits	4,631	(3,637)	(13,144)
Other liabilities	(7,057)	(28,830)	(20,502)
Deferred revenue	18,763	23,547	4,486
Net cash provided by operating activities	468,915	509,450	423,817
Cash flows from investing activities:
Purchases of property and equipment	(4,237)	(6,029)	(7,569)
Proceeds from sales of marketable securities	5,032	8,063	7,237
Purchases of marketable securities	(10,623)	(9,963)	(9,039)
Proceeds from Sale of Productive Assets		2,258	147,431
Payments (Proceeds) from Sale of Other Productive Assets	(6,126)
Purchase of equity investment	0	0	(210)
Net cash provided by (used in) investing activities	(15,954)	(5,671)	137,850
Cash flows from financing activities:
Proceeds from revolving line of credit and term loan	407,000	1,039,000	682,000
Payments on revolving line of credit and term loan	(402,000)	(988,250)	(259,000)
Proceeds from issuance of senior notes	0	550,000	0
Payments on debt issuance costs	0	(8,819)	(1,488)
Payments on finance leases	0	0	(176)
Proceeds from issuance of treasury stock under employee stock plans	22,198	16,026	20,881
Taxes paid related to net share settlement of equity awards	(76,673)	(50,942)	(91,609)
Repurchases of common stock	(405,526)	(1,104,180)	(874,179)
Net cash used in financing activities	(455,001)	(547,165)	(523,571)
Increase (decrease) in cash and cash equivalents	3,576	(62,152)	37,960
Cash and cash equivalents, beginning of year	133,202	195,354	157,394
Cash and cash equivalents, end of year	136,778	133,202	195,354
Supplemental disclosures of cash flow information:
Cash paid for income taxes, refunds	640	1,090	464
Income Taxes Paid, Net	152,775	65,332	71,486
Cash paid for interest	96,877	57,208	37,955
Supplemental disclosures of non-cash investing and financing activities:
Unsettled repurchases of common stock	1,821	0	8,043
Purchase of property and equipment included in accounts payable	106	22	71
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 5,616	$ (18,766)	$ (136)

Business Divestiture (Details) - USD ($) $ in Thousands	12 Months Ended
Business Divestiture (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Gain (Loss) on Disposition of Business	$ 1,941	$ 0	$ 100,139
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on Disposition of Business	1,941	$ 0	100,139
C&R Business
Discontinued Operations and Disposal Groups [Abstract]
Gain (Loss) on Disposition of Business			100,100
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on Disposition of Business			$ 100,100
Siron Compliance Business
Discontinued Operations and Disposal Groups [Abstract]
Gain (Loss) on Disposition of Business	1,900
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Loss) on Disposition of Business	$ 1,900

Income Taxes (Tables)

12 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The provision for income taxes was as follows during fiscal 2023, 2022 and 2021:


	Year ended September 30,
	2023		2022		2021
	(In thousands)
Current:
Federal	$	112,456	$	50,403	$	43,437
State	16,844		8,952		7,961
Foreign	42,327		30,597		35,615
	171,627		89,952		87,013
Deferred:
Federal	(37,884)		8,165		(4,602)
State	(15,025)		507		(948)
Foreign	5,531		(856)		(405)
	(47,378)		7,816		(5,955)
Total provision	$	124,249	$	97,768	$	81,058

Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities at September 30, 2023 and 2022 were as follows:


	September 30,
	2023		2022
	(In thousands)
Deferred tax assets:
Loss and credit carryforwards	$	12,309	$	19,122
Compensation benefits	30,490		29,344

Operating lease liabilities	9,396		13,065
Research and development costs	34,730		—
Other assets	17,327		14,744
	104,252		76,275
Less: valuation allowance	(2,183)		(16,635)
Total deferred tax assets	102,069		59,640
Deferred tax liabilities:
Intangible assets	(7,226)		(14,263)
Deferred commission	(14,017)		(12,419)

Operating lease right-of-use assets	(6,228)		(8,798)
Other liabilities	(15,462)		(12,357)
Total deferred tax liabilities	(42,933)		(47,837)
Deferred tax assets, net	$	59,136	$	11,803

Reconciliation Between Federal Statutory Income Tax Rate and Effective Tax Rate


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Income tax provision at U.S. federal statutory rate	$	116,261	$	98,975	$	99,360
State income taxes, net of U.S. federal benefit	14,135		8,359		7,815
Foreign tax rate differential	9,489		3,058		1,490
Research credits	(3,600)		(5,932)		(6,795)



Valuation allowance	(14,451)		(11,768)		3,839

Excess tax benefits relating to share-based compensation	(949)		702		(15,573)

GILTI, FDII, BEAT and FTC	(9,010)		(2,491)		(4,958)
Other	12,374		6,865		(4,120)
Recorded income tax provision	$	124,249	$	97,768	$	81,058

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Gross unrecognized tax benefits at beginning of year	$	12,980	$	10,897	$	7,994
Gross increases for tax positions in prior years	—		593		—
Gross decreases for tax positions in prior years	(1,127)		—		(385)
Gross increases based on tax positions related to the current year	3,650		3,250		5,273
Decreases for settlements and payments	(523)		—		(643)
Decreases due to statute expiration	(1,131)		(1,760)		(1,342)
Gross unrecognized tax benefits at end of year	$	13,849	$	12,980	$	10,897

Revolving Line of Credit (Tables)

12 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Future Principal Payments on Term Loans

Future principal payments for the term loan are as follows:


Year Ending September 30,	(In thousands)
2024	$	15,000
2025	15,000
2026	243,750



Total	$	273,750

Future principal payments for the Senior Notes are as follows:


Year Ending September 30,	(In thousands)


2026	400,000
2027	—
2028	900,000
Total	$	1,300,000

Nature of Business and Summary of Significant Accounting Policies - Estimated Useful Life of Property and Equipment (Details)	Sep. 30, 2023
Data processing equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	3 years
Data processing equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	6 years
Office furniture and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	3 years
Office furniture and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	7 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]
Software Development \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life	3 years

Guarantees - Additional Information (Details)	12 Months Ended
Guarantees - Additional Information (Details)	Sep. 30, 2023
Maximum
Product Warranty [Line Items]
Duration of product warranties	90 days

Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits, Beginning Balance	$ 12,980	$ 10,897	$ 7,994
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions	0	593	0
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	(1,127)	0	(385)
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	3,650	3,250	5,273
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	(523)	0	(643)
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	(1,131)	(1,760)	(1,342)
Unrecognized Tax Benefits, Ending Balance	$ 13,849	$ 12,980	$ 10,897

Nature of Business and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Accounting Policies [Abstract]
Depreciation and amortization, property and equipment	$ 10.1	$ 15.2	$ 20.3
Foreign exchange gains (losses)	(2.6)	1.9	0.0
Advertising and promotion costs	$ 9.8	$ 8.1	$ 6.9

Audit Information	12 Months Ended
Audit Information	Sep. 30, 2023
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	San Diego, CA
Auditor Firm ID	34

Stock-Based Employee Benefit Plans - Assumptions Used to Estimate Fair Value of Market Stock Units (Details) - Market stock units (MSUs)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility in FICO’s stock price	47.30%	42.30%	41.30%
Expected volatility in Russell 3000 Index	26.00%	23.30%	23.70%
Correlation between FICO and the Russell 3000 Index	73.50%	74.70%	77.50%
Risk-free interest rate	4.02%	0.97%	0.20%
Average expected dividend yield	0.00%	0.00%	0.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Revenue from Contracts with Customers (Tables)

12 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following tables provide information about disaggregated revenue by primary geographical market:


	Year Ended September 30, 2023
	Scores		Software		Total		Percentage
	(Dollars in thousands)
Americas	$	763,874	$	523,076	$	1,286,950	85	%
Europe, Middle East and Africa	5,802		135,562		141,364		9	%
Asia Pacific	4,152		81,091		85,243		6	%
Total	$	773,828	$	739,729	$	1,513,557	100	%


	Year Ended September 30, 2022
	Scores		Software		Total		Percentage
	(Dollars in thousands)
Americas	$	691,006	$	439,705	$	1,130,711	82	%
Europe, Middle East and Africa	4,475		142,824		147,299		11	%
Asia Pacific	11,162		88,098		99,260		7	%
Total	$	706,643	$	670,627	$	1,377,270	100	%


	Year Ended September 30, 2021
	Scores		Software		Total		Percentage
	(Dollars in thousands)
Americas	$	633,497	$	416,436	$	1,049,933	80	%
Europe, Middle East and Africa	11,881		178,515		190,396		14	%
Asia Pacific	8,769		67,438		76,207		6	%
Total	$	654,147	$	662,389	$	1,316,536	100	%

The following table provides information about disaggregated revenue for our Software segment by deployment method:


	Year Ended September 30,						Percentage of revenues
	2023		2022		2021		2023		2022		2021
	(Dollars in thousands)
On-premises software	$	292,763	$	280,649	$	266,452	46	%	50	%	51	%
SaaS software	347,419		284,102		251,436		54	%	50	%	49	%
Total on-premises and SaaS software	$	640,182	$	564,751	$	517,888	100	%	100	%	100	%

The following table provides information about disaggregated revenue for our Software segment by product features:


	Year Ended September 30,						Percentage of revenues
	2023		2022		2021		2023		2022		2021
	(Dollars in thousands)
Platform software (*)	$	154,750	$	116,252	$	66,884	24	%	21	%	13	%
Non-Platform software	485,432		448,499		451,004		76	%	79	%	87	%
Total on-premises and SaaS software	$	640,182	$	564,751	$	517,888	100	%	100	%	100	%

(*) FICO platform software is a set of interoperable capabilities which use software assets owned and/or governed by FICO for building solutions and services which conform to FICO architectural standards based on key elements of Cloud Native Computing design principles. These standards encompass shared security context and access using FICO standard application programming interfaces.

The following table provides information about disaggregated revenue for our Software segment by timing of revenue recognition:


	Year Ended September 30,						Percentage of revenues
	2023		2022		2021		2023		2022		2021
	(Dollars in thousands)
Software recognized at a point in time (1)	$	72,843	$	75,647	$	59,024	11	%	13	%	11	%
Software recognized over contract term (2)	567,339		489,104		458,864		89	%	87	%	89	%
Total on-premises and SaaS software	$	640,182	$	564,751	$	517,888	100	%	100	%	100	%

(1)Includes license portion of our on-premises subscription software and perpetual license, both of which are recognized when the software is made available to the customer, or at the start of the subscription.

(2)Includes maintenance portion and usage-based fees of our on-premises subscription software, maintenance revenue on perpetual licenses, as well as SaaS revenue.

The following table provides information about disaggregated revenue for our Scores segment by distribution method:


	Year Ended September 30,						Percentage of revenues
	2023		2022		2021		2023		2022		2021
	(Dollars in thousands)
Business-to-business Scores	$	560,995	$	475,442	$	446,538	72	%	67	%	68	%
Business-to-consumer Scores	212,833		231,201		207,609		28	%	33	%	32	%
Total	$	773,828	$	706,643	$	654,147	100	%	100	%	100	%

Receivables

Receivables at September 30, 2023 and 2022 consisted of the following:


	September 30,
	2023		2022
	(In thousands)
Billed	$	234,745	$	203,351
Unbilled	203,896		165,386
	438,641		368,737
Less: allowance for doubtful accounts	(4,978)		(4,218)
Net receivables	433,663		364,519
Less: long-term receivables (*)	(45,716)		(42,109)
Short-term receivables (*)	$	387,947	$	322,410

(*) Short-term receivables and long-term receivables were recorded in accounts receivable, net and other assets, respectively, within the accompanying consolidated balance sheets.

Accounts Receivable, Allowance for Credit Loss

Activity in the allowance for doubtful accounts was as follows:


	Year Ended September 30,
	2023		2022
	(In thousands)
Allowance for doubtful accounts, beginning balance	$	4,218	$	4,154
Add: expense	1,475		2,300
Less: write-offs (net of recoveries)	(715)		(2,236)
Allowance for doubtful accounts, ending balance	$	4,978	$	4,218

Contract with Customer, Asset and Liability

Significant changes in the deferred revenues balances are as follows:


	Year Ended September 30,
	2023		2022
	(In thousands)
Deferred revenues, beginning balance	$	126,560	$	110,763
Revenue recognized that was included in the deferred revenues balance at the beginning of the period	(113,341)		(95,286)
Increases due to billings, excluding amounts recognized as revenue during the period	130,016		111,083
Deferred revenues, ending balance (*)	$	143,235	$	126,560

(*) Deferred revenues at September 30, 2023 included current portion of $136.7 million and long-term portion of $6.5 million that were recorded in deferred revenue and other liabilities, respectively, within the consolidated balance sheets. Deferred revenues at September 30, 2022 included current portion of $120.0 million and long-term portion of $6.6 million that were recorded in deferred revenue and other liabilities, respectively, within the consolidated balance sheets.

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Sep. 30, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Defined Contribution Plans We sponsor the Fair Isaac Corporation 401(k) plan for eligible employees in the U.S. Under this plan, eligible employees may contribute up to 25% of compensation, not to exceed statutory limits. We also provide a company matching contribution. Investment in FICO common stock is not an option under this plan. Our contributions into all 401(k) plans, including former-acquired-company-sponsored plans that have since merged into the Fair Isaac Corporation 401(k) plan or have been frozen, totaled $8.9 million, $8.2 million and $9.8 million during fiscal 2023, 2022 and 2021, respectively. Employee Incentive Plans We maintain various employee incentive plans for the benefit of eligible employees, including officers. The awards generally are based upon the achievement of certain financial and performance objectives subject to the discretion of management. For executive officers, such discretion is exercised by the Leadership Development and Compensation Committee of Company’s Board of Directors. Total expenses under our employee incentive plans were $57.8 million, $55.7 million and $58.1 million during fiscal 2023, 2022 and 2021, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Composition of Certain Financial Statement Captions - Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Accrued Liabilities and Other Liabilities [Abstract]
Interest Payable, Current	$ 20,770	$ 21,314
Operating lease liabilities, Current	16,336	19,369
Other Accrued Liabilities, Current	22,372	25,565
Other accrued liabilities	$ 59,478	$ 66,248

Segment Information - Summary of Segment Information (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2023 USD ($) Segment	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| Segment	2
Segment revenues:
Revenue	$ 1,513,557	$ 1,377,270	$ 1,316,536
Segment operating expense	(870,727)	(834,856)	(811,047)
Operating income	642,830	542,414	505,489
Unallocated share-based compensation expense	(123,847)	(115,355)	(112,457)
Unallocated amortization expense	(1,100)	(2,061)	(3,255)
Unallocated restructuring and impairment charges	0	0	(7,957)
Unallocated interest expense, net	(95,546)	(68,967)	(40,092)
Unallocated other income (expense), net	6,340	(2,138)	7,745
Depreciation expense	10,106	15,242	20,319
Gain (Loss) on Disposition of Business	1,941	0	100,139
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	553,624	471,309	473,142
Software
Segment revenues:
Revenue	739,729	670,627	662,389
Scores
Segment revenues:
Revenue	773,828	706,643	654,147
Operating Segments
Segment revenues:
Revenue	1,513,557	1,377,270	1,316,536
Segment operating expense	(747,721)	(717,440)	(787,517)
Operating income	765,836	659,830	529,019
Operating Segments \| Software
Segment revenues:
Revenue	739,729	670,627	662,389
Segment operating expense	(498,538)	(487,505)	(555,288)
Operating income	241,191	183,122	107,101
Depreciation expense	9,550	14,412	19,505
Operating Segments \| Scores
Segment revenues:
Revenue	773,828	706,643	654,147
Segment operating expense	(92,757)	(87,288)	(90,538)
Operating income	681,071	619,355	563,609
Depreciation expense	485	723	667
Unallocated Corporate Expenses
Segment revenues:
Segment operating expense	(156,426)	(142,647)	(141,691)
Operating income	(156,426)	(142,647)	(141,691)
Depreciation expense	71	107	147
On-premises and SaaS software
Segment revenues:
Revenue	640,182	564,751	517,888
On-premises and SaaS software \| Operating Segments
Segment revenues:
Revenue	640,182	564,751	517,888
On-premises and SaaS software \| Operating Segments \| Software
Segment revenues:
Revenue	640,182	564,751	517,888
On-premises and SaaS software \| Operating Segments \| Scores
Segment revenues:
Revenue	0	0	0
Professional services
Segment revenues:
Revenue	99,547	105,876	144,501
Professional services \| Operating Segments
Segment revenues:
Revenue	99,547	105,876	144,501
Professional services \| Operating Segments \| Software
Segment revenues:
Revenue	99,547	105,876	144,501
Professional services \| Operating Segments \| Scores
Segment revenues:
Revenue	0	0	0
Scores Products
Segment revenues:
Revenue	773,828	706,643	654,147
Scores Products \| Operating Segments
Segment revenues:
Revenue	773,828	706,643	654,147
Scores Products \| Operating Segments \| Software
Segment revenues:
Revenue	0	0	0
Scores Products \| Operating Segments \| Scores
Segment revenues:
Revenue	$ 773,828	$ 706,643	$ 654,147

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2023	Sep. 30, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	88,857,000	88,857,000
Common stock, shares outstanding (in shares)	24,770,000	25,154,000
Treasury Stock, Common, Shares	64,087,000	63,703,000

Stock-Based Employee Benefit Plans - Summary of Restricted Stock Unit and Performance Stock Unit Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Restricted stock units (RSUs)
Shares
Outstanding at September 30, 2019 (in shares)	415
Granted (in shares)	167
Released (in shares)	(162)
Forfeited (in shares)	(44)
Outstanding at September 30, 2020 (in shares)	376	415
Weighted-average Grant-date Fair Value
Outstanding at September 30, 2019 (in dollars per share)	$ 398.07
Granted (in dollars per share)	620.51	$ 416.62	$ 505.70
Released (in dollars per share)	356.97
Forfeited (in dollars per share)	449.89
Outstanding at September 30, 2020 (in dollars per share)	$ 508.23	$ 398.07
Performance stock units (PSUs)
Shares
Outstanding at September 30, 2019 (in shares)	144
Granted (in shares)	57
Released (in shares)	(66)
Forfeited (in shares)	(20)
Outstanding at September 30, 2020 (in shares)	115	144
Weighted-average Grant-date Fair Value
Outstanding at September 30, 2019 (in dollars per share)	$ 432.73
Granted (in dollars per share)	615.45	$ 407.49	506.91
Released (in dollars per share)	428.90
Forfeited (in dollars per share)	465.25
Outstanding at September 30, 2020 (in dollars per share)	$ 519.54	$ 432.73
Market stock units (MSUs)
Shares
Outstanding at September 30, 2019 (in shares)	92
Granted (in shares)	77
Released (in shares)	(68)
Forfeited (in shares)	(14)
Outstanding at September 30, 2020 (in shares)	87	92
Weighted-average Grant-date Fair Value
Outstanding at September 30, 2019 (in dollars per share)	$ 586.91
Granted (in dollars per share)	822.96	$ 493.66	$ 471.16
Released (in dollars per share)	502.41
Forfeited (in dollars per share)	715.94
Outstanding at September 30, 2020 (in dollars per share)	$ 844.24	$ 586.91

Revenue from Contracts with Customers

12 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Contracts with Customers

Our revenue is primarily derived from on-premises software and SaaS subscriptions, professional services and scoring services. For contracts with customers that contain various combinations of products and services, we evaluate whether the products or services are distinct — distinct products or services will be accounted for as separate performance obligations, while non-distinct products or services are combined with others to form a single performance obligation. For contracts with multiple performance obligations, the transaction price is allocated to each performance obligation on a relative standalone selling price (“SSP”) basis. Revenue is recognized when control of the promised goods or services is transferred to our customers.

Our on-premises software is primarily sold on a subscription basis, which includes a term-based license and post-contract support or maintenance, both of which generally represent distinct performance obligations and are accounted for separately. The transaction price is either a fixed fee, or a usage-based fee — sometimes subject to a guaranteed minimum. When the amount is fixed, including the guaranteed minimum in a usage-based fee, license revenue is recognized at the point in time when the software is made available to the customer. Maintenance revenue is recognized ratably over the contract period as customers simultaneously consume and receive benefits. Any usage-based fees not subject to a guaranteed minimum or earned in excess of the minimum amount are recognized when the subsequent usage occurs. We occasionally sell software arrangements consisting of on-premises perpetual licenses and maintenance. License revenue is recognized at a point in time when the software is made available to the customer and maintenance revenue is recognized ratably over the contract term.

Our SaaS products provide customers with access to and standard support for our software on a subscription basis, delivered through our own infrastructure or third-party cloud services. The SaaS transaction contracts typically include a guaranteed minimum fee per period that allows up to a certain level of usage and a consumption-based variable fee in excess of the minimum threshold; or a consumption-based variable fee not subject to a minimum threshold. The nature of our SaaS arrangements is to provide continuous access to our hosted solutions in the cloud, i.e., a stand-ready obligation that comprises a series of distinct service periods (e.g., a series of distinct daily, monthly or annual periods of service). We estimate the total variable consideration at contract inception — subject to any constraints that may apply — and update the estimates as new information becomes available and recognize the amount ratably over the SaaS service period, unless we determine it is appropriate to allocate the variable amount to each distinct service period and recognize revenue as each distinct service period is performed.

Our professional services include software implementation, consulting, model development and training. Professional services are sold either standalone, or together with other products or services and generally represent distinct performance obligations. The transaction price can be a fixed amount or a variable amount based upon the time and materials expended. Revenue on fixed-price services is recognized using an input method based on labor hours expended, which we believe provides a faithful depiction of the transfer of services. Revenue on services provided on a time and materials basis is recognized by applying the “right-to-invoice” practical expedient as the amount to which we have a right to invoice the customer corresponds directly with the value of our performance to the customer.

Our scoring services include both business-to-business and business-to-consumer offerings. Our business-to-business scoring services typically include a license that grants consumer reporting agencies the right to use our scoring solutions in exchange for a usage-based royalty. Revenue is generally recognized when the usage occurs. Business-to-consumer offerings provide consumers with access to their FICO® Scores and credit reports, as well as other value-add services. These are provided as either a one-time or ongoing subscription service renewed monthly or annually, all with a fixed consideration. The nature of the subscription service is a stand-ready obligation to generate credit reports, provide credit monitoring, and other services for our customers, which comprises a series of distinct service periods (e.g., a series of distinct daily, monthly or annual periods of service). Revenue from one-time or monthly subscription services is recognized during the period when service is performed. Revenue from annual subscription services is recognized ratably over the subscription period.

Disaggregation of Revenue

During fiscal 2021, we sold all assets related to our cyber risk score operations, sold certain assets related to our Software segment to an affiliated joint venture in China, and divested our C&R business. During fiscal 2023, we sold certain assets related to our Siron compliance business. The comparability of the data below is impacted as a result of these divestitures.

The following tables provide information about disaggregated revenue by primary geographical market:


	Year Ended September 30, 2023
	Scores		Software		Total		Percentage
	(Dollars in thousands)
Americas	$	763,874	$	523,076	$	1,286,950	85	%
Europe, Middle East and Africa	5,802		135,562		141,364		9	%
Asia Pacific	4,152		81,091		85,243		6	%
Total	$	773,828	$	739,729	$	1,513,557	100	%


	Year Ended September 30, 2022
	Scores		Software		Total		Percentage
	(Dollars in thousands)
Americas	$	691,006	$	439,705	$	1,130,711	82	%
Europe, Middle East and Africa	4,475		142,824		147,299		11	%
Asia Pacific	11,162		88,098		99,260		7	%
Total	$	706,643	$	670,627	$	1,377,270	100	%


	Year Ended September 30, 2021
	Scores		Software		Total		Percentage
	(Dollars in thousands)
Americas	$	633,497	$	416,436	$	1,049,933	80	%
Europe, Middle East and Africa	11,881		178,515		190,396		14	%
Asia Pacific	8,769		67,438		76,207		6	%
Total	$	654,147	$	662,389	$	1,316,536	100	%

The following table provides information about disaggregated revenue for our Software segment by deployment method:


	Year Ended September 30,						Percentage of revenues
	2023		2022		2021		2023		2022		2021
	(Dollars in thousands)
On-premises software	$	292,763	$	280,649	$	266,452	46	%	50	%	51	%
SaaS software	347,419		284,102		251,436		54	%	50	%	49	%
Total on-premises and SaaS software	$	640,182	$	564,751	$	517,888	100	%	100	%	100	%

The following table provides information about disaggregated revenue for our Software segment by product features:


	Year Ended September 30,						Percentage of revenues
	2023		2022		2021		2023		2022		2021
	(Dollars in thousands)
Platform software (*)	$	154,750	$	116,252	$	66,884	24	%	21	%	13	%
Non-Platform software	485,432		448,499		451,004		76	%	79	%	87	%
Total on-premises and SaaS software	$	640,182	$	564,751	$	517,888	100	%	100	%	100	%

The following table provides information about disaggregated revenue for our Software segment by timing of revenue recognition:


	Year Ended September 30,						Percentage of revenues
	2023		2022		2021		2023		2022		2021
	(Dollars in thousands)
Software recognized at a point in time (1)	$	72,843	$	75,647	$	59,024	11	%	13	%	11	%
Software recognized over contract term (2)	567,339		489,104		458,864		89	%	87	%	89	%
Total on-premises and SaaS software	$	640,182	$	564,751	$	517,888	100	%	100	%	100	%

(2)Includes maintenance portion and usage-based fees of our on-premises subscription software, maintenance revenue on perpetual licenses, as well as SaaS revenue.

The following table provides information about disaggregated revenue for our Scores segment by distribution method:


	Year Ended September 30,						Percentage of revenues
	2023		2022		2021		2023		2022		2021
	(Dollars in thousands)
Business-to-business Scores	$	560,995	$	475,442	$	446,538	72	%	67	%	68	%
Business-to-consumer Scores	212,833		231,201		207,609		28	%	33	%	32	%
Total	$	773,828	$	706,643	$	654,147	100	%	100	%	100	%

We derive a substantial portion of revenues from our contracts with the three major consumer reporting agencies, TransUnion, Equifax and Experian. Revenues collectively generated by agreements with these customers accounted for 41%, 39% and 38% of our total revenues in fiscal 2023, 2022 and 2021, respectively, with all three consumer reporting agencies each contributing more than 10% of our total revenues in fiscal 2023, and two each contributing more than 10% of our total revenues in fiscal 2022 and 2021. At September 30, 2023, one individual customer accounted for 10% or more of total consolidated receivables. At September 30, 2022, no individual customer accounted for 10% or more of total consolidated receivables.

Contract Balances

We record a receivable when we satisfy a performance obligation prior to invoicing if only the passage of time is required before payment is due or if we have an unconditional right to consideration before we satisfy a performance obligation. We record a contract asset when we satisfy a performance obligation prior to invoicing but our right to consideration is conditional. We record deferred revenue when the payment is made or due before we satisfy a performance obligation.

Receivables at September 30, 2023 and 2022 consisted of the following:


	September 30,
	2023		2022
	(In thousands)
Billed	$	234,745	$	203,351
Unbilled	203,896		165,386
	438,641		368,737
Less: allowance for doubtful accounts	(4,978)		(4,218)
Net receivables	433,663		364,519
Less: long-term receivables (*)	(45,716)		(42,109)
Short-term receivables (*)	$	387,947	$	322,410

(*) Short-term receivables and long-term receivables were recorded in accounts receivable, net and other assets, respectively, within the accompanying consolidated balance sheets.

Activity in the allowance for doubtful accounts was as follows:


	Year Ended September 30,
	2023		2022
	(In thousands)
Allowance for doubtful accounts, beginning balance	$	4,218	$	4,154
Add: expense	1,475		2,300
Less: write-offs (net of recoveries)	(715)		(2,236)
Allowance for doubtful accounts, ending balance	$	4,978	$	4,218

Deferred revenue primarily relates to our maintenance and SaaS contracts billed annually in advance and generally recognized ratably over the term of the service period. Significant changes in the deferred revenues balances are as follows:


	Year Ended September 30,
	2023		2022
	(In thousands)
Deferred revenues, beginning balance	$	126,560	$	110,763
Revenue recognized that was included in the deferred revenues balance at the beginning of the period	(113,341)		(95,286)
Increases due to billings, excluding amounts recognized as revenue during the period	130,016		111,083
Deferred revenues, ending balance (*)	$	143,235	$	126,560

Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 60 days. In instances where the timing of revenue recognition differs from the timing of invoicing, we have determined our contracts generally do not include a significant financing component. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services, not to provide customers with financing or to receive financing from our customers. Examples include multi-year on-premises licenses that are invoiced annually with revenue recognized upfront and invoicing at the beginning of a subscription term with revenue recognized ratably over the contract period.

Performance Obligations

Revenue allocated to remaining performance obligations represents contracted revenue that will be recognized in future periods, which is comprised of deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. This does not include:

•Usage-based revenue that will be recognized in future periods from on-premises software subscriptions;

•Consumption-based variable fees from SaaS software that will be recognized in the distinct service period during which it is earned; and

•Revenue from variable considerations that will be recognized in accordance with the “right-to-invoice” practical expedient, such as fees from our professional services billed based on a time and materials basis.

Revenue allocated to remaining performance obligations was $470.5 million as of September 30, 2023, approximately 51% of which we expect to recognize over the next 17 months and the remainder thereafter. Revenue allocated to remaining performance obligations was $357.4 million as of September 30, 2022.

Significant Judgments

Our contracts with customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct and should be accounted for separately may require significant judgment. Specifically, when implementation service is included in the original software or SaaS offerings, judgment is required to determine if the implementation service significantly modifies or customizes the software or SaaS service in such a way that the risks of providing it and the customization service are inseparable. In rare instances, contracts may include significant modification or customization of the software or SaaS service and will result in the combination of software or SaaS service and implementation service as one performance obligation.

We determine the SSPs using data from our historical standalone sales, or, in instances where such information is not available (such as when we do not sell the product or service separately), we consider factors such as the stated contract prices, our overall pricing practices and objectives, go-to-market strategy, size and type of the transactions, and effects of the geographic area on pricing, among others. When the selling price of a product or service is highly variable, we may use the residual approach to determine the SSP of that product or service. Significant judgment may be required to determine the SSP for each distinct performance obligation when it involves the consideration of many market conditions and entity-specific factors discussed above.

Significant judgment may be required to determine the timing of satisfaction of a performance obligation in certain professional services contracts with a fixed consideration, in which we measure progress using an input method based on labor hours expended. In order to estimate the total hours of the project, we make assumptions about labor utilization, efficiency of processes, the customer’s specification and IT environment, among others. For certain complex projects, due to the risks and uncertainties inherent with the estimation process and factors relating to the assumptions, actual progress may differ due to the change in estimated total hours. Adjustments to estimates are made in the period in which the facts requiring such revisions become known and, accordingly, recognized revenues are subject to revisions as the contract progresses to completion.

Capitalized Commission Costs

We capitalize incremental commission fees paid as a result of obtaining customer contracts. Capitalized commission costs, which are recorded in other assets within the accompanying consolidated balance sheets, were $58.6 million and $53.0 million at September 30, 2023 and 2022, respectively.

Capitalized commission costs are amortized on a straight-line basis over ten years — determined using a portfolio approach — based on the transfer of goods or services to which the assets relate, taking into consideration both the initial and future contracts as we do not typically pay a commission on a contract renewal. The amortization costs are included in selling, general, and administrative expenses of our consolidated statements of income and comprehensive income. The amount of amortization was $8.2 million, $7.2 million, and $6.0 million during the years ended September 30, 2023, 2022 and 2021, respectively. There was no impairment loss in relation to the costs capitalized.

We apply a practical expedient to recognize the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that we otherwise would have recognized is one year or less. These costs are recorded within selling, general, and administrative expenses.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Composition of Certain Financial Statement Captions - Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and amortization	$ (88,001)	$ (94,831)
Property and equipment, net	10,966	17,580
Technology Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	69,928	76,335
Office Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	12,296	14,790
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 16,743	$ 21,286

Nature of Business and Summary of Significant Accounting Policies - Estimated Useful Life of Definite-Lived Intangible Assets (Details)	Sep. 30, 2023	Sep. 30, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years	5 years
Completed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years	5 years
Completed technology \| Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years
Completed technology \| Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years
Customer contracts and relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years	5 years
Customer contracts and relationships \| Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years
Customer contracts and relationships \| Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years
Non-compete agreements
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life	2 years

Restructuring and Impairment Charges	12 Months Ended
Restructuring and Impairment Charges	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Impairment Charges	Restructuring Charges There were no restructuring charges incurred during fiscal 2023 or 2022. During fiscal 2021, we incurred restructuring charges of $8.0 million in employee separation costs due to the elimination of 160 positions throughout the Company. Cash payments for all the employee separation costs were fully paid before the end of fiscal 2022.

Guarantees	12 Months Ended
Guarantees	Sep. 30, 2023
Guarantees [Abstract]
Guarantees	GuaranteesIn the ordinary course of business, we are not subject to potential obligations under guarantees, except for standard indemnification and warranty provisions that are contained within many of our customer license and service agreements and certain supplier agreements, including underwriter agreements, as well as standard indemnification agreements that we have executed with certain of our officers and directors, and give rise only to the disclosure in the consolidated financial statements. In addition, we continue to monitor the conditions that are subject to the guarantees and indemnifications to identify whether it is probable that a loss has occurred, and would recognize any such losses under the guarantees and indemnifications when those losses are estimable.Indemnification and warranty provisions contained within our customer license and service agreements and certain supplier agreements are generally consistent with those prevalent in our industry. The duration of our product warranties generally does not exceed 90 days following delivery of our products. We have not incurred significant obligations under customer indemnification or warranty provisions historically and do not expect to incur significant obligations in the future. Accordingly, we do not maintain accruals for potential customer indemnification or warranty-related obligations. The indemnification agreements that we have executed with certain of our officers and directors would require us to indemnify such officers and directors in certain instances. We have not incurred obligations under these indemnification agreements historically and do not expect to incur significant obligations in the future. Accordingly, we do not maintain accruals for potential officer or director indemnification obligations. The maximum potential amount of future payments that we could be required to make under the indemnification provisions in our customer license and service agreements, and officer and director agreements is unlimited.

- Definition

The entire disclosure for each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

+ References + Details

Revenue from Contracts with Customers - Contract Balances - Additional Information (Details)	12 Months Ended
	Sep. 30, 2023
Minimum
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Contract with customer, payment term	30 days
Maximum
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Contract with customer, payment term	60 days

Goodwill and Intangible Assets - Amortization Expense Associated with Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 1,100	$ 2,061	$ 3,255

Stock-Based Employee Benefit Plans - Summary of Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Shares
Outstanding at September 30, 2022 (in shares)	209
Granted (in shares)	58
Exercised (in shares)	(38)
Forfeited (in shares)	(2)
Outstanding at September 30, 2023 (in shares)	227	209
Options exercisable at September 30, 2023 (in shares)	153
Vested and expected to vest at September 30, 2023 (in shares)	221
Weighted- average Exercise Price
Outstanding at September 30, 2022 (in dollars per share)	$ 247.56
Granted (in dollars per share)	779.98
Exercised (in dollars per share)	214.00
Forfeited (in dollars per share)	390.14
Outstanding at September 30, 2023 (in dollars per share)	387.95	$ 247.56
Options exercisable at September 30, 2023 (in dollars per share)	236.84
Vested and expected to vest at September 30, 2023 (in dollars per share)	$ 377.24
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	3 years 6 months 18 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term	2 years 3 months 18 days
Vested and expected to vest - Weighted average remaining term	3 years 5 months 15 days
Vested and expected to vest - Aggregate Intrinsic value	$ 108,544
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value	109,242
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value	$ 96,648
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of options granted (in dollars per share)	$ 289.54	$ 134.91	$ 139.11
Number of options that had exercise prices lower than the market price of common stock (in shares)	227
Market price of common stock (in dollars per share)	$ 868.53
Total intrinsic value of options exercised	$ 16,700	$ 14,500	$ 15,800
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	227	209
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average expected term (years)	5 years 2 months 23 days	4 years 5 months 4 days	4 years 5 months 19 days
Expected volatility (range), maximum	35.50%	34.10%	34.40%
Weighted average volatility	33.50%	33.20%	33.90%
Risk free interest rate, maximum	4.49%	2.85%	0.73%
Average expected dividend yield	0.00%	0.00%	0.00%
Expected volatility (range), minimum	33.40%	32.90%	33.60%
Risk free interest rate, minimum	3.40%	1.18%	0.29%

Derivative Financial Instruments - Gains Losses on Derivative Financial Instruments Recorded in Consolidated Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Foreign Currency Forward Contracts
Derivative [Line Items]
Gain (loss) on foreign currency forward contracts	$ (1,625)	$ 2,748	$ (2,064)

Senior Notes

12 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Senior Notes

On May 8, 2018, we issued $400 million of senior notes in a private offering to qualified institutional investors (the “2018 Senior Notes”). The 2018 Senior Notes require interest payments semi-annually at a rate of 5.25% per annum and will mature on May 15, 2026.

On December 6, 2019, we issued $350 million of senior notes in a private offering to qualified institutional investors (the “2019 Senior Notes”). The 2019 Senior Notes require interest payments semi-annually at a rate of 4.00% per annum and will mature on June 15, 2028.

On December 17, 2021, we issued $550 million of additional senior notes of the same class as the 2019 Senior Notes in a private offering to qualified institutional investors (the “2021 Senior Notes,” and collectively with the 2018 Senior Notes and the 2019 Senior Notes, the “Senior Notes”). The 2021 Senior Notes require interest payments semi-annually at a rate of 4.00% per annum and will mature on June 15, 2028, the same date as the 2019 Senior Notes.

The indentures for the Senior Notes contain certain covenants typical of unsecured obligations and we were in compliance as of September 30, 2023.

The following table presents the face values and fair values for the Senior Notes at September 30, 2023 and 2022:


	September 30, 2023				September 30, 2022
	Face Value (*)		Fair Value		Face Value (*)		Fair Value
	(In thousands)
The 2018 Senior Notes	$	400,000	$	386,000	$	400,000	$	381,500
The 2019 Senior Notes and the 2021 Senior Notes	900,000		803,250		900,000		767,250
Total	$	1,300,000	$	1,189,250	$	1,300,000	$	1,148,750

(*) The carrying value of the Senior Notes was the face value reduced by the net debt issuance costs of $11.5 million and $14.3 million at September 30, 2023 and 2022, respectively.

Future principal payments for the Senior Notes are as follows:


Year Ending September 30,	(In thousands)


2026	400,000
2027	—
2028	900,000
Total	$	1,300,000

Leases - Lease Liability Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Operating Leases Future Payments
Fiscal 2024	$ 17,731
Fiscal 2025	11,872
Fiscal 2026	8,901
Fiscal 2027	3,949
Fiscal 2028	268
Thereafter	160
Total future undiscounted lease payments	42,881
Less imputed interest	(2,642)
Operating Lease, Liability, Total	40,239	$ 58,561
Lessor, Operating Lease, Payment to be Received, Year One	1,100
Lessor, Operating Lease, Payment to be Received, Year Two	500
Lessor, Operating Lease, Payment to be Received, Year Three	400
Lessor, Operating Lease, Payment to be Received, Year Four	$ 200

Revenue from Contracts with Customers - Contract Balances - Deferred Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability	$ 143,235	$ 126,560	$ 110,763
Contract with Customer, Liability, Revenue Recognized	(113,341)	(95,286)
Contract With Customer, Liability, Excluding Revenue Recognized	130,016	111,083
Contract with Customer, Liability, Current	136,700	120,000
Contract with Customer, Liability, Noncurrent	$ 6,500	$ 6,600

Restructuring and Impairment Charges - Additional Information (Details) $ in Millions	12 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($) position
Restructuring Cost and Reserve [Line Items]
Number of positions reduced \| position			160
Restructuring charges	$ 0.0	$ 0.0
Employee separation
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 8.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Revenue from Contracts with Customers - Capitalized Commission Cost (Details) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Capitalized Contract Cost, Net	$ 58,600,000	$ 53,000,000
Capitalized Contract Cost, Amortization	8,200,000	7,200,000	$ 6,000,000
Capitalized Contract Cost, Impairment Loss	$ 0	$ 0	$ 0

Leases

12 Months Ended

Sep. 30, 2023

Leases [Abstract]

Operating leases

Leases

Operating lease assets represent the right to use an underlying asset for the lease term and operating lease liabilities represent the obligation to make lease payments arising from the lease. These assets and liabilities are recognized based on the present value of future payments over the lease term at the commencement date. We use a collateralized incremental borrowing rate based on the information available at the commencement date, including the lease term, in determining the present value of future payments. In calculating the incremental borrowing rates, we consider recent ratings from credit agencies and current lease demographic information. Our operating leases also typically require payment of real estate taxes, common area maintenance, insurance and other operating costs as well as payments that are adjusted based on a consumer price index. These components comprise the majority of our variable lease cost and are excluded from the present value of our lease obligations. In instances where they are fixed, they are included due to our election to combine lease and non-lease components. Operating lease assets also include prepaid lease payments and initial direct costs, and are reduced by lease incentives. Our lease terms generally do not include options to extend or terminate the lease unless it is reasonably certain that the option will be exercised. Fixed payments may contain predetermined fixed rent escalations. We recognize the related rent expense on a straight-line basis from the commencement date to the end of the lease term.

The following table presents the lease balances within the accompanying consolidated balance sheets as of September 30, 2023 and 2022:


	Balance Sheet Location	September 30,
		2023		2022
		(In thousands)
Assets
Operating leases	Operating lease right-of-use assets	$	25,703	$	36,688
Liabilities
Current operating leases	Other accrued liabilities	$	16,336	$	19,369
Non-current operating leases	Operating lease liabilities	23,903		39,192
Total lease liabilities		$	40,239	$	58,561

The components of our operating lease expenses were as follows:


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Operating lease cost	$	16,594	$	18,426	$	19,551
Short-term lease cost	461		201		85
Variable lease cost	2,363		2,091		1,190
Sublease income	(429)		—		—
Total lease cost	$	18,989	$	20,718	$	20,826

The following table presents weighted-average remaining lease term and weighted-average discount rates related to our operating leases:


	September 30,
	2023		2022
Weighted-average remaining lease term (in months)	35		47
Weighted-average discount rate	4.58	%	4.01	%

Supplemental cash flow information related to our operating leases was as follows:


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities	$	19,780	$	22,021	$	23,260
Lease assets obtained in exchange for new lease liabilities	4,150		7,505		5,413

Future lease payments under our non-cancellable operating leases as of September 30, 2023 were as follows:


	(In thousands)
Fiscal 2024	$	17,731
Fiscal 2025	11,872
Fiscal 2026	8,901
Fiscal 2027	3,949
Fiscal 2028	268
Thereafter	160
Total future undiscounted lease payments	42,881
Less imputed interest	(2,642)
Total reported lease liability	$	40,239

Finance leases

Leases

The following table presents the lease balances within the accompanying consolidated balance sheets as of September 30, 2023 and 2022:


	Balance Sheet Location	September 30,
		2023		2022
		(In thousands)
Assets
Operating leases	Operating lease right-of-use assets	$	25,703	$	36,688
Liabilities
Current operating leases	Other accrued liabilities	$	16,336	$	19,369
Non-current operating leases	Operating lease liabilities	23,903		39,192
Total lease liabilities		$	40,239	$	58,561

The components of our operating lease expenses were as follows:


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Operating lease cost	$	16,594	$	18,426	$	19,551
Short-term lease cost	461		201		85
Variable lease cost	2,363		2,091		1,190
Sublease income	(429)		—		—
Total lease cost	$	18,989	$	20,718	$	20,826

The following table presents weighted-average remaining lease term and weighted-average discount rates related to our operating leases:


	September 30,
	2023		2022
Weighted-average remaining lease term (in months)	35		47
Weighted-average discount rate	4.58	%	4.01	%

Supplemental cash flow information related to our operating leases was as follows:


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities	$	19,780	$	22,021	$	23,260
Lease assets obtained in exchange for new lease liabilities	4,150		7,505		5,413

Future lease payments under our non-cancellable operating leases as of September 30, 2023 were as follows:


	(In thousands)
Fiscal 2024	$	17,731
Fiscal 2025	11,872
Fiscal 2026	8,901
Fiscal 2027	3,949
Fiscal 2028	268
Thereafter	160
Total future undiscounted lease payments	42,881
Less imputed interest	(2,642)
Total reported lease liability	$	40,239

Earnings per Share (Tables)

12 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share

The following table presents reconciliations for the numerators and denominators of basic and diluted earnings per share (“EPS”) during fiscal 2023, 2022 and 2021:


	Year Ended September 30,
	2023		2022		2021
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net income	$	429,375	$	373,541	$	392,084
Denominator — share:
Basic weighted-average shares	24,986		26,042		28,734
Effect of dilutive securities	381		305		526
Diluted weighted-average shares	25,367		26,347		29,260
Earnings per share:
Basic	$	17.18	$	14.34	$	13.65
Diluted	$	16.93	$	14.18	$	13.40

Commitments	12 Months Ended
Commitments	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments	Commitments In the ordinary course of business, we enter into contractual purchase obligations and other agreements that are legally binding and specify certain minimum payment terms. We are also a party to a management agreement with 19 of our executives providing for certain payments and other benefits in the event of a qualified change in control of FICO, coupled with a termination of the officer during the following year.

Fair Value Measurements - Financial Assets Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($)
$ in Thousands

Sep. 30, 2023

Sep. 30, 2022

Assets:

Total

$ 56,635

$ 43,829

Cash

Assets:

Cash equivalents

^[1]

23,621

19,314

Marketable securities

Assets:

Debt Securities, Trading, and Equity Securities, FV-NI

^[2]

33,014

24,515

Active Markets for Identical Instruments (Level 1)

Assets:

Total

56,635

43,829

Active Markets for Identical Instruments (Level 1) | Cash

Assets:

Cash equivalents

^[1]

23,621

19,314

Active Markets for Identical Instruments (Level 1) | Marketable securities

Assets:

Debt Securities, Trading, and Equity Securities, FV-NI

^[2]

$ 33,014

$ 24,515

[1]	Included in cash and cash equivalents on our consolidated balance sheets at September 30, 2023 and 2022. Not included in these tables are cash deposits of $113.2 million and $113.9 million at September 30, 2023 and 2022, respectively.
[2]	Represents securities held under a supplemental retirement and savings plan for certain officers and senior management employees, which are distributed upon termination or retirement of the employees. Included in marketable securities on our consolidated balance sheets at September 30, 2023 and 2022.

Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following tables represent financial assets that we measured at fair value on a recurring basis at September 30, 2023 and 2022:


September 30, 2023	Active Markets for Identical Instruments (Level 1)		Fair Value as of September 30, 2023
	(In thousands)
Assets:
Cash equivalents (1)	$	23,621	$	23,621
Marketable securities (2)	33,014		33,014
Total	$	56,635	$	56,635


September 30, 2022	Active Markets for Identical Instruments (Level 1)		Fair Value as of September 30, 2022
	(In thousands)
Assets:
Cash equivalents (1)	$	19,314	$	19,314
Marketable securities (2)	24,515		24,515
Total	$	43,829	$	43,829

Goodwill and Intangible Assets - Estimated Future Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Estimated future intangible asset amortization expense
2024	$ 900
Intangible assets, net	$ 917	$ 2,017

Fair Value Measurements - Financial Assets Measured at Fair Value on Recurring Basis - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022
Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash deposits	$ 113.2	$ 113.9

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.

+ References + Details

Revenue from Contracts with Customers - Performance Obligations (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 470.5	$ 357.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	17 months
Revenue, Remaining Performance Obligation, Percentage	51.00%

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Current:
Federal	$ 112,456	$ 50,403	$ 43,437
State	16,844	8,952	7,961
Foreign	42,327	30,597	35,615
Current income tax	171,627	89,952	87,013
Deferred:
Federal	(37,884)	8,165	(4,602)
State	(15,025)	507	(948)
Foreign	5,531	(856)	(405)
Deferred income taxes	(47,378)	7,816	(5,955)
Total provision	$ 124,249	$ 97,768	$ 81,058

Stock-Based Employee Benefit Plans (Tables)

12 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Assumptions Used to Estimate Fair Value of Stock Options

We used the following assumptions to estimate the fair value of our stock options during fiscal 2023, 2022 and 2021:


	Year Ended September 30,
	2023				2022				2021
Stock Options:
Weighted-average expected term (years)			5.23				4.43				4.47
Expected volatility (range)	33.4	-	35.5	%	32.9	-	34.1	%	33.6	-	34.4	%
Weighted-average volatility			33.5	%			33.2	%			33.9	%
Risk-free interest rate (range)	3.40	-	4.49	%	1.18	-	2.85	%	0.29	-	0.73	%
Weighted-average expected dividend yield			—	%			—	%			—	%

Summary of Option Activity

The following table summarizes option activity during fiscal 2023:


	Shares	Weighted- average Exercise Price		Weighted- average Remaining Contractual Term	Aggregate Intrinsic Value
	(In thousands)			(In years)	(In thousands)
Outstanding at September 30, 2022	209	$	247.56
Granted	58	779.98
Exercised	(38)	214.00
Forfeited	(2)	390.14

Outstanding at September 30, 2023	227	$	387.95	3.55	$	109,242
Exercisable at September 30, 2023	153	$	236.84	2.30	$	96,648
Vested or expected to vest at September 30, 2023	221	$	377.24	3.46	$	108,544

Summary of Restricted Stock Unit and Market Stock Unit Activity

The following table summarizes the RSUs activity during fiscal 2023:


	Shares	Weighted-average Grant-date Fair Value
	(In thousands)
Outstanding at September 30, 2022	415	$	398.07
Granted	167	620.51
Released	(162)	356.97
Forfeited	(44)	449.89
Outstanding at September 30, 2023	376	$	508.23

The following table summarizes the MSUs activity during fiscal 2023:


	Shares	Weighted- average Grant-date Fair Value
	(In thousands)
Outstanding at September 30, 2022	92	$	586.91
Granted	77	822.96
Released	(68)	502.41
Forfeited	(14)	715.94
Outstanding at September 30, 2023	87	$	844.24

Summary of Performance Stock Unit Activity

The following table summarizes the PSUs activity during fiscal 2023:


	Shares	Weighted- average Grant-date Fair Value
	(In thousands)
Outstanding at September 30, 2022	144	$	432.73
Granted	57	615.45
Released	(66)	428.90
Forfeited	(20)	465.25
Outstanding at September 30, 2023	115	$	519.54

Assumptions Used to Estimate Fair Value of Market Stock Units

We used the following assumptions to estimate the fair value of our MSUs during fiscal 2023, 2022 and 2021:


	Year Ended September 30,
	2023		2022		2021

Expected volatility in FICO’s stock price	47.3	%	42.3	%	41.3	%
Expected volatility in Russell 3000 Index	26.0	%	23.3	%	23.7	%
Correlation between FICO and the Russell 3000 Index	73.5	%	74.7	%	77.5	%
Risk-free interest rate	4.02	%	0.97	%	0.20	%
Average expected dividend yield	—	%	—	%	—	%

Stock-Based Employee Benefit Plans

12 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Share-Based Employee Benefit Plans

Description of Stock Option and Share Plans

We maintain the 2021 Long-Term Incentive Plan (the “2021 Plan”). The 2021 Plan authorizes the issuance of up to 5,900,000 shares of our common stock, plus additional shares that become available due to the expiration, forfeiture or cancellation of awards outstanding under the 2012 Long-Term Incentive Plan. Under the terms of the 2021 Plan, the pool of shares available for issuance may be used for all types of equity awards available under the 2021 Plan, which include stock options, stock appreciation rights, restricted stock awards, stock unit awards and other share-based awards. All employees, consultants and advisors of FICO or any subsidiary, as well as all non-employee directors, are eligible to receive awards under the 2021 Plan. The 2021 Plan will remain in effect until the earliest of the following: all shares subject to the Plan are distributed, the Board terminates the Plan, or the tenth anniversary of the effective date of the Plan.

Stock option awards have a maximum term of ten years. In general, stock option awards and stock unit awards not subject to market or performance conditions vest annually over four years. Stock unit awards subject to market or performance conditions generally vest annually over three years based on the achievement of specified criteria. At September 30, 2023, there were 4,726,001 shares available for issuance as new awards under the 2021 Plan.

Description of Employee Stock Purchase Plan

We maintain the 2019 Employee Stock Purchase Plan (the “2019 Purchase Plan”) under which we are authorized to issue up to 1,000,000 shares of our common stock to eligible employees. Eligible employees may elect to have up to 15% of their eligible pay withheld through payroll deductions to purchase FICO common stock during semi-annual offering periods. The purchase price of the stock is 85% of the closing sales price of FICO common stock on the last trading day of each offering period. Offering period means approximately six-month periods commencing (a) on the first trading day on or after September 1 and terminating on the last trading day in the following February, and (b) on the first trading day on or after March 1 and terminating on the last trading day in the following August. At September 30, 2023, there were 852,896 shares available for issuance under the 2019 Purchase Plan.

We satisfy stock option exercises, vesting of stock units and the 2019 Purchase Plan issuances from treasury shares.

Share-Based Compensation Expense and Related Income Tax Benefits

We recorded share-based compensation expense of $123.8 million, $115.4 million and $112.5 million in fiscal 2023, 2022 and 2021, respectively. The total tax benefit related to this share-based compensation expense was $13.8 million, $13.5 million and $14.0 million in fiscal 2023, 2022 and 2021, respectively. As of September 30, 2023, there was $194.3 million of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under all equity compensation plans. Total unrecognized compensation cost will be adjusted for future changes in estimated forfeitures. We expect to recognize that cost over a weighted-average period of 2.56 years.

In fiscal 2023 we received $8.1 million in cash from stock option exercises, with the tax benefit realized for the tax deductions from these exercises of $4.0 million.

Share-Based Activity

Restricted Stock Units

The fair value of restricted stock units (“RSUs”) granted is the closing market price of our common stock on the date of grant, adjusted for the expected dividend yield, if applicable. We amortize the fair value on a straight-line basis over the vesting period.

The following table summarizes the RSUs activity during fiscal 2023:


	Shares	Weighted-average Grant-date Fair Value
	(In thousands)
Outstanding at September 30, 2022	415	$	398.07
Granted	167	620.51
Released	(162)	356.97
Forfeited	(44)	449.89
Outstanding at September 30, 2023	376	$	508.23

The weighted-average fair value of the RSUs granted was $620.51, $416.62 and $505.70 during fiscal 2023, 2022 and 2021, respectively. The total intrinsic value of the RSUs that vested was $101.1 million, $97.3 million and $156.6 million during fiscal 2023, 2022 and 2021, respectively, determined as of the date of vesting.

Performance Share Units

Performance share units (“PSUs”) are granted to our senior officers and earned based on pre-established performance goals approved by the Leadership Development and Compensation Committee of our Board of Directors for any given performance period. The range of payout is zero to 200% of the number of target PSUs, based on the outcome of the performance conditions. We estimate the fair value of the PSUs using the closing market price of our common stock on the date of grant, adjusted for the expected dividend yield if applicable, based on the performance condition that is probable of achievement. We amortize the fair values over the requisite service period for each vesting tranche of the award. We reassess the probability at each reporting period and recognize the cumulative effect of the change in estimate in the period of change.

The following table summarizes the PSUs activity during fiscal 2023:


	Shares	Weighted- average Grant-date Fair Value
	(In thousands)
Outstanding at September 30, 2022	144	$	432.73
Granted	57	615.45
Released	(66)	428.90
Forfeited	(20)	465.25
Outstanding at September 30, 2023	115	$	519.54

The weighted-average fair value of the PSUs granted was $615.45, $407.49 and $506.91 during fiscal 2023, 2022 and 2021, respectively. The total intrinsic value of the PSUs that vested was $40.3 million, $25.9 million and $34.7 million during fiscal 2023, 2022 and 2021, respectively, determined as of the date of vesting.

Market Share Units

Market share units (“MSUs”) are granted to our senior officers and earned based on our total stockholder return relative to the Russell 3000 Index over performance periods of one, two and three years. We estimate the fair value of MSUs granted using the Monte Carlo valuation model and amortize the fair values over the requisite service period for each vesting tranche of the award. In addition, we do not reverse the compensation cost solely because the market condition is not satisfied, and the award is therefore not earned by the employee, provided the requisite service is rendered. We used the following assumptions to estimate the fair value of our MSUs during fiscal 2023, 2022 and 2021:


	Year Ended September 30,
	2023		2022		2021

Expected volatility in FICO’s stock price	47.3	%	42.3	%	41.3	%
Expected volatility in Russell 3000 Index	26.0	%	23.3	%	23.7	%
Correlation between FICO and the Russell 3000 Index	73.5	%	74.7	%	77.5	%
Risk-free interest rate	4.02	%	0.97	%	0.20	%
Average expected dividend yield	—	%	—	%	—	%

The expected volatility was determined based on daily historical movements in our stock price and the Russell 3000 Index for the three years preceding the grant date. The correlation between FICO and the Russell 3000 Index was determined based on historical daily stock price movements for the three years preceding the grant date. The risk-free rate was determined based on U.S. Treasury zero-coupon yields over the three-year performance period. Because we have not declared or paid any cash dividends on our common stock since May 2017, and we do not presently plan to pay cash dividends on our common stock in the foreseeable future, we used an expected dividend yield of zero.

The following table summarizes the MSUs activity during fiscal 2023:


	Shares	Weighted- average Grant-date Fair Value
	(In thousands)
Outstanding at September 30, 2022	92	$	586.91
Granted	77	822.96
Released	(68)	502.41
Forfeited	(14)	715.94
Outstanding at September 30, 2023	87	$	844.24

The weighted-average fair value of the MSUs granted was $822.96, $493.66 and $471.16 during fiscal 2023, 2022 and 2021, respectively. The total intrinsic value of the MSUs that vested was $42.2 million, $7.8 million and $34.5 million during fiscal 2023, 2022 and 2021, respectively, determined as of the date of vesting.

Stock Options

We estimate the fair value of stock options granted using the Black-Scholes option valuation model and we amortize the fair value on a straight-line basis over the vesting period. We used the following assumptions to estimate the fair value of our stock options during fiscal 2023, 2022 and 2021:


	Year Ended September 30,
	2023				2022				2021
Stock Options:
Weighted-average expected term (years)			5.23				4.43				4.47
Expected volatility (range)	33.4	-	35.5	%	32.9	-	34.1	%	33.6	-	34.4	%
Weighted-average volatility			33.5	%			33.2	%			33.9	%
Risk-free interest rate (range)	3.40	-	4.49	%	1.18	-	2.85	%	0.29	-	0.73	%
Weighted-average expected dividend yield			—	%			—	%			—	%

Expected Term. The expected term represents the period that our stock options are expected to be outstanding. We estimate the expected term based on historical experience of similar awards, giving consideration to the contractual terms of the share-based awards, vesting schedules and expectations of future employee behavior.

Expected Volatility. We estimate the volatility of our common stock at the date of grant based on a combination of the implied volatility of publicly traded options on our common stock and our historical volatility rate.

Risk-Free Interest Rate. The risk-free interest rate assumption is based on observed interest rates appropriate for the term of our employee options.

Dividends. We have not declared or paid any cash dividends on our common stock since May 2017, and we do not presently plan to pay cash dividends on our common stock in the foreseeable future. Consequently, we used an expected dividend yield of zero in the years presented.

Forfeitures. We use historical data to estimate pre-vesting option forfeitures and record share-based compensation expense only for those awards that are expected to vest.

The following table summarizes option activity during fiscal 2023:


	Shares	Weighted- average Exercise Price		Weighted- average Remaining Contractual Term	Aggregate Intrinsic Value
	(In thousands)			(In years)	(In thousands)
Outstanding at September 30, 2022	209	$	247.56
Granted	58	779.98
Exercised	(38)	214.00
Forfeited	(2)	390.14

Outstanding at September 30, 2023	227	$	387.95	3.55	$	109,242
Exercisable at September 30, 2023	153	$	236.84	2.30	$	96,648
Vested or expected to vest at September 30, 2023	221	$	377.24	3.46	$	108,544

The weighted-average fair value of options granted was $289.54, $134.91 and $139.11 during fiscal 2023, 2022 and 2021, respectively. The aggregate intrinsic value of options outstanding at September 30, 2023 was calculated as the difference between the exercise price of the underlying options and the market price of our common stock for the 227,000 outstanding options that had exercise prices lower than the $868.53 market price of our common stock at September 30, 2023. The total intrinsic value of options exercised was $16.7 million, $14.5 million and $15.8 million during fiscal 2023, 2022 and 2021, respectively, determined as of the date of exercise.

Employee Stock Purchase Plan

The compensation expense on the 2019 Purchase Plan arises from the 15% discount offered to participants. A total of 21,876, 32,528, and 42,402 shares of our common stock were issued under the 2019 Purchase Plan during fiscal 2023, 2022 and 2021, respectively. The weighted-average purchase price was $646.37, $393.95, and $389.61 per share for fiscal 2023, 2022 and 2021

Segment Information (Tables)

12 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following tables summarize segment information for fiscal 2023, 2022 and 2021:


	Year Ended September 30, 2023
	Scores		Software		Unallocated Corporate Expenses		Total
	(In thousands)
Segment revenues:
On-premises and SaaS software	$	—	$	640,182	$	—	$	640,182
Professional services	—		99,547		—		99,547
Scores	773,828		—		—		773,828
Total segment revenues	773,828		739,729		—		1,513,557
Segment operating expense	(92,757)		(498,538)		(156,426)		(747,721)
Segment operating income	$	681,071	$	241,191	$	(156,426)	$	765,836
Unallocated share-based compensation expense							(123,847)
Unallocated amortization expense							(1,100)

Unallocated gain on product line asset sale							1,941
Operating income							642,830
Unallocated interest expense, net							(95,546)
Unallocated other income, net							6,340
Income before income taxes							$	553,624
Depreciation expense	$	485	$	9,550	$	71	$	10,106


	Year Ended September 30, 2022
	Scores		Software		Unallocated Corporate Expenses		Total
	(In thousands)
Segment revenues:
On-premises and SaaS software	$	—	$	564,751	$	—	$	564,751
Professional services	—		105,876		—		105,876
Scores	706,643		—		—		706,643
Total segment revenues	706,643		670,627		—		1,377,270
Segment operating expense	(87,288)		(487,505)		(142,647)		(717,440)
Segment operating income	$	619,355	$	183,122	$	(142,647)	659,830
Unallocated share-based compensation expense							(115,355)
Unallocated amortization expense							(2,061)


Operating income							542,414
Unallocated interest expense, net							(68,967)
Unallocated other expense, net							(2,138)
Income before income taxes							$	471,309
Depreciation expense	$	723	$	14,412	$	107	$	15,242


	Year Ended September 30, 2021
	Scores		Software		Unallocated Corporate Expenses		Total
	(In thousands)
Segment revenues:
On-premises and SaaS software	$	—	$	517,888	$	—	$	517,888
Professional services	—		144,501		—		144,501
Scores	654,147		—		—		654,147
Total segment revenues	654,147		662,389		—		1,316,536
Segment operating expense	(90,538)		(555,288)		(141,691)		(787,517)
Segment operating income	$	563,609	$	107,101	$	(141,691)	529,019
Unallocated share-based compensation expense							(112,457)
Unallocated amortization expense							(3,255)
Unallocated restructuring charges							(7,957)
Unallocated gains on product line asset sales and business divestiture							100,139
Operating income							505,489
Unallocated interest expense, net							(40,092)
Unallocated other income, net							7,745
Income before income taxes							$	473,142
Depreciation expense	$	667	$	19,505	$	147	$	20,319

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Current assets:
Cash and cash equivalents	$ 136,778	$ 133,202
Accounts receivable, net	387,947	322,410
Prepaid expenses and other current assets	31,723	29,103
Total current assets	556,448	484,715
Marketable Securities, Noncurrent	33,014	24,515
Other investments	1,223	1,135
Property and equipment, net	10,966	17,580
Operating lease, right-of-use asset	25,703	36,688
Goodwill	773,327	761,067
Intangible assets, net	917	2,017
Deferred Income Taxes and Other Assets, Current	59,136	11,803
Other assets	114,547	102,514
Total assets	1,575,281	1,442,034
Current liabilities:
Accounts payable	19,009	17,273
Accrued compensation and employee benefits	102,471	97,893
Other accrued liabilities	59,478	66,248
Deferred revenue	136,730	120,045
Current maturities on debt	50,000	30,000
Total current liabilities	367,688	331,459
Long-term debt	1,811,658	1,823,669
Operating lease liabilities, Non-current	23,903	39,192
Other Liabilities, Noncurrent	60,022	49,661
Total liabilities	2,263,271	2,243,981
Commitments and contingencies
Stockholders’ deficit:
Preferred stock ($0.01 par value; 1,000 shares authorized; none issued and outstanding)	0	0
Common Stock, Value, Outstanding	248	252
Additional paid-in-capital	$ 1,350,713	$ 1,299,588
Treasury Stock, Common, Shares	64,087,000	63,703,000
Treasury stock, at cost	$ (5,324,865)	$ (4,935,769)
Retained earnings	3,388,059	2,958,684
Accumulated other comprehensive loss	(102,145)	(124,702)
Total stockholders’ deficit	(687,990)	(801,947)
Total liabilities and stockholders’ deficit	$ 1,575,281	$ 1,442,034
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000

Senior Notes (Tables)

12 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Principal Amounts Carrying amounts and Fair Values of Senior Notes

The following table presents the face values and fair values for the Senior Notes at September 30, 2023 and 2022:


	September 30, 2023				September 30, 2022
	Face Value (*)		Fair Value		Face Value (*)		Fair Value
	(In thousands)
The 2018 Senior Notes	$	400,000	$	386,000	$	400,000	$	381,500
The 2019 Senior Notes and the 2021 Senior Notes	900,000		803,250		900,000		767,250
Total	$	1,300,000	$	1,189,250	$	1,300,000	$	1,148,750

(*) The carrying value of the Senior Notes was the face value reduced by the net debt issuance costs of $11.5 million and $14.3 million at September 30, 2023 and 2022, respectively.

Future Principal Payments For the Senior Notes

Future principal payments for the term loan are as follows:


Year Ending September 30,	(In thousands)
2024	$	15,000
2025	15,000
2026	243,750



Total	$	273,750

Future principal payments for the Senior Notes are as follows:


Year Ending September 30,	(In thousands)


2026	400,000
2027	—
2028	900,000
Total	$	1,300,000

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Income Taxes [Line Items]
Foreign pretax earnings	$ 172,700	$ 136,000	$ 62,100
Current foreign tax expense related to foreign tax withholdings	12,300	9,500	7,500
Valuation allowance	2,200
Unrecognized tax benefits	13,849	$ 12,980	$ 10,897	$ 7,994
Unrecognized tax benefits that would impact the effective tax rate if recognized	12,700
Unrecognized tax benefits, accrued interest	$ 900
Effective income tax rate	21.00%
Unremitted earnings of foreign subsidiaries	$ 27,200
U.S. Federal
Income Taxes [Line Items]
Net operating loss carryforwards	4,100
Foreign NOL carryforwards
Income Taxes [Line Items]
Net operating loss carryforwards	2,200
California Franchise Tax Board \| Research Tax Credit Carryforward
Income Taxes [Line Items]
Excess state research credit	$ 9,200

Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Leases [Abstract]
Operating lease cost	$ 16,594	$ 18,426	$ 19,551
Short-term lease cost	461	201	85
Variable lease cost	2,363	2,091	1,190
Sublease Income	(429)	0	0
Total lease cost	$ 18,989	$ 20,718	$ 20,826
Operating Lease, weighted average remaining lease term	35 months	47 months
Operating lease, weighted average discount rate	4.58%	4.01%

Derivative Financial Instruments

12 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

We use derivative instruments to manage risks caused by fluctuations in foreign exchange rates. The primary objective of our derivative instruments is to protect the value of foreign-currency-denominated receivable and cash balances from the effects of volatility in foreign exchange rates that might occur prior to conversion to their functional currencies. We principally utilize foreign currency forward contracts, which enable us to buy and sell foreign currencies in the future at fixed exchange rates and economically offset changes in foreign exchange rates. We routinely enter into contracts to offset exposures denominated in the British pound, Euro and Singapore dollar.

Foreign-currency-denominated receivable and cash balances are remeasured at foreign exchange rates in effect on the balance sheet date with the effects of changes in foreign exchange rates reported in other income (expense), net. The forward contracts are not designated as hedges and are marked to market through other income (expense), net. Fair value changes in the forward contracts help mitigate the changes in the value of the remeasured receivable and cash balances attributable to changes in foreign exchange rates. The forward contracts are short-term in nature and typically have average maturities at inception of less than three months.

The following tables summarize our outstanding foreign currency forward contracts, by currency, at September 30, 2023 and 2022:


	September 30, 2023
	Contract Amount				Fair Value
	Foreign Currency		USD		USD
		(In thousands)
Sell foreign currency:

Euro (EUR)	EUR	12,900	$	13,621	—
Buy foreign currency:
British pound (GBP)	GBP	10,700	$	13,100	—
Singapore dollar (SGD)	SGD	8,569	$	6,300	—


	September 30, 2022
	Contract Amount				Fair Value
	Foreign Currency		USD		USD
		(In thousands)
Sell foreign currency:

Euro (EUR)	EUR	13,500	$	13,158	—
Buy foreign currency:
British pound (GBP)	GBP	11,848	$	13,100	—
Singapore dollar (SGD)	SGD	6,169	$	4,300	—

The foreign currency forward contracts were entered into on September 30, 2023 and 2022; therefore, their fair value was $0 at each of these dates.

Gains (losses) on derivative financial instruments were recorded in our consolidated statements of income and comprehensive income as a component of other income (expense), net, and consisted of the following:


	Year Ended September 30,
	2023		2022		2021
	(In thousands)
Gain (loss) on foreign currency forward contracts	$	1,625	$	(2,748)	$	2,064

Income Taxes - Reconciliation Between Federal Statutory Income Tax Rate and Effective Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Income tax provision at U.S. federal statutory rate	$ 116,261	$ 98,975	$ 99,360
State income taxes, net of U.S. federal benefit	14,135	8,359	7,815
Foreign tax rate differential	9,489	3,058	1,490
Research credits	(3,600)	(5,932)	(6,795)
Valuation allowance	(14,451)	(11,768)	3,839
Excess tax benefits relating to share-based compensation	(949)	702	(15,573)
GILTI, FDII, BEAT and FTC	(9,010)	(2,491)	(4,958)
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	12,374	6,865	(4,120)
Total provision	$ 124,249	$ 97,768	$ 81,058

Cash, Cash Equivalents and Marketable Securities (Tables)

12 Months Ended

Sep. 30, 2023

Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents and Investments

The following is a summary of cash, cash equivalents and marketable securities at September 30, 2023 and 2022:


	September 30, 2023				September 30, 2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In thousands)
Cash and Cash Equivalents:
Cash	$	113,157	$	113,157	$	113,888	$	113,888
Money market funds	23,621		23,621		19,314		19,314


Total	$	136,778	$	136,778	$	133,202	$	133,202
Marketable Securities:
Marketable securities	$	31,100	$	33,014	$	25,956	$	24,515

Revolving Line of Credit - Additional Information (Details)	Oct. 20, 2021 USD ($)	Aug. 19, 2021 USD ($)	May 08, 2018	Sep. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Line of credit, current borrowing capacity		$ 600,000,000
Revolving credit facility, expiration date		Aug. 19, 2026
Leverage Ratios Maximum			3.5
Credit facility restrictive covenant, maximum consolidated leverage ratio step up			4.0
Interest coverage ratio			3.0
Term loan \| Unsecured Debt
Line of Credit Facility [Line Items]
Initial Term Loan to Bank	$ 300,000,000
Line of Credit Facility, Periodic Payment	$ 3,750,000
Interest rate of borrowings outstanding				6.752%
Term Loan Borrowing				$ 273,750,000
Loans Payable to Bank, Current				15,000,000
Loans Payable to Bank, Noncurrent				258,800,000
Revolving Credit Facility \| Unsecured Debt
Line of Credit Facility [Line Items]
Borrowings outstanding				$ 300,000,000
Interest rate of borrowings outstanding				6.678%
Line of Credit, Current				$ 35,000,000
Long-Term Line of Credit, Noncurrent				$ 265,000,000
Federal Fund Rate
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate			0.50%
Base Rate \| Minimum
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate			0.00%
Base Rate \| Maximum
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate			0.75%
Secured Overnight Financing Rate (SOFR) Rate
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate			1.00%
Secured Overnight Financing Rate (SOFR) Rate \| Minimum
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate			1.00%
Secured Overnight Financing Rate (SOFR) Rate \| Maximum
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate			1.75%

Senior Notes - Principal Amounts Carrying Amounts and Fair Values (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Carrying amounts	$ 1,300,000	$ 1,300,000
Fair value	1,189,250	1,148,750
Debt issuance costs	11,500	14,300
May 2018 Senior Notes
Debt Instrument [Line Items]
Carrying amounts	400,000	400,000
Fair value	386,000	381,500
December 2019 Senior Notes
Debt Instrument [Line Items]
Carrying amounts	900,000	900,000
Fair value	$ 803,250	$ 767,250

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Marketable securities
Cash, cash equivalents and marketable securities [Line Items]
Amortized Cost	$ 31,100	$ 25,956
Debt Securities, Trading, and Equity Securities, FV-NI	33,014	24,515
Cash and Cash Equivalents
Cash, cash equivalents and marketable securities [Line Items]
Amortized Cost	136,778	133,202
Debt Securities, Trading, and Equity Securities, FV-NI	136,778	133,202
Cash and Cash Equivalents \| Cash
Cash, cash equivalents and marketable securities [Line Items]
Amortized Cost	113,157	113,888
Debt Securities, Trading, and Equity Securities, FV-NI	113,157	113,888
Cash and Cash Equivalents \| Money market funds
Cash, cash equivalents and marketable securities [Line Items]
Amortized Cost	23,621	19,314
Debt Securities, Trading, and Equity Securities, FV-NI	$ 23,621	$ 19,314

Stock-Based Employee Benefit Plans - Assumptions Used to Estimate Fair Value of Stock Options (Details) - Equity Option [Member]	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average expected term (years)	5 years 2 months 23 days	4 years 5 months 4 days	4 years 5 months 19 days
Expected volatility (range), minimum	33.40%	32.90%	33.60%
Expected volatility (range), maximum	35.50%	34.10%	34.40%
Weighted average volatility	33.50%	33.20%	33.90%
Risk free interest rate, minimum	3.40%	1.18%	0.29%
Risk free interest rate, maximum	4.49%	2.85%	0.73%
Weighted average expected dividend yield	0.00%	0.00%	0.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details