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v3.25.3

Leases | 12 Months Ended
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Sep. 30, 2025
Leases [Abstract] |
Leases | Leases We utilize operating leases for office and warehouse space, tower space, vehicles, and heavy equipment used in our operations. We also have finance leases for certain build-to-suit service centers. The following table presents our weighted average remaining lease term for our leases.
| September 30, 2025 |  | September 30, 2024
Weighted average remaining lease term (years) |  |  |
Finance leases | 15.7 |  | 16.7
Operating leases | 8.8 |  | 9.9
The following table represents our weighted average discount rate:
| September 30, 2025 |  | September 30, 2024
Weighted average discount rate |  |  |
Finance leases | 4.0 | % |  | 4.0 | %
Operating leases | 4.5 | % |  | 4.1 | %
Lease costs for the years ended September 30, 2025, 2024, and 2023 are presented in the table below. These costs include both amounts recognized in expense and amounts capitalized. For the years ended September 30, 2025, 2024, and 2023 we did not have material short-term lease costs or variable lease costs.
|  |  | Year Ended September 30
|  |  | 2025 |  | 2024 |  | 2023
|  |  | (In thousands)
Finance lease cost |  |  | $ | 4,467 |  |  | $ | 4,523 |  |  | $ | 4,499 |
Operating lease cost |  |  | 56,695 |  |  | 48,421 |  |  | 44,090 |
Total lease cost |  |  | $ | 61,162 |  |  | $ | 52,944 |  |  | $ | 48,589 |
Our ROU assets and lease liabilities are presented as follows on the consolidated balance sheets:
| Balance Sheet Classification | September 30, 2025 |  | September 30, 2024
|  | (In thousands)
Assets |  |  |  |
Finance leases | Net property, plant and equipment | $ | 42,064 |  |  | $ | 44,748 |
Operating leases | Deferred charges and other assets | 293,934 |  |  | 249,556 |
Total right-of-use assets |  | $ | 335,998 |  |  | $ | 294,304 |
Liabilities |  |  |  |
Current |  |  |  |
Finance leases | Current maturities of long-term debt | $ | 1,775 |  |  | $ | 1,651 |
Operating leases | Other current liabilities | 45,010 |  |  | 34,340 |
Noncurrent |  |  |  |
Finance leases | Long-term debt | 45,459 |  |  | 47,239 |
Operating leases | Deferred credits and other liabilities | 262,549 |  |  | 224,498 |
Total lease liabilities |  | $ | 354,793 |  |  | $ | 307,728 |
Three service center leases are expected to commence in fiscal 2026 that impact our future lease payments. The total future lease payments for these leases is $116.5 million. We also entered into one service center lease during the first quarter of fiscal 2026 that is expected to commence in fiscal 2027. The total future lease payments for this lease is $33.1 million. These amounts are not included in the tables below. Other pertinent information related to leases was as follows. During the years ended September 30, 2025, 2024, and 2023 amounts paid in cash for our finance leases were not material.
| Year Ended September 30
| 2025 |  | 2024 |  | 2023
| (In thousands)
Cash paid amounts included in the measurement of lease liabilities |  |  |  |  |
Operating cash flows used for operating leases | $ | 52,528 |  |  | $ | 47,069 |  |  | $ | 45,463 |
Right-of-use assets obtained in exchange for lease obligations |  |  |  |  |
Finance leases | $ | — |  |  | $ | — |  |  | $ | — |
Operating leases | $ | 89,598 |  |  | $ | 65,672 |  |  | $ | 29,976 |
Maturities of our lease liabilities as of September 30, 2025 were as follows by fiscal years:
| Total | Finance Leases | Operating Leases
| (In thousands)
2026 | $ | 60,048 |  | $ | 3,502 |  | $ | 56,546 |
2027 | 55,881 |  | 3,568 |  | 52,313 |
2028 | 50,775 |  | 3,635 |  | 47,140 |
2029 | 44,304 |  | 3,703 |  | 40,601 |
2030 | 38,240 |  | 3,782 |  | 34,458 |
Thereafter | 189,621 |  | 44,877 |  | 144,744 |
Total lease payments | 438,869 |  | 63,067 |  | 375,802 |
Less: Imputed interest | 84,076 |  | 15,833 |  | 68,243 |
Total | $ | 354,793 |  | $ | 47,234 |  | $ | 307,559 |
Reported as of September 30, 2025 |  |  |
Short-term lease liabilities | $ | 46,785 |  | $ | 1,775 |  | $ | 45,010 |
Long-term lease liabilities | 308,008 |  | 45,459 |  | 262,549 |
Total lease liabilities | $ | 354,793 |  | $ | 47,234 |  | $ | 307,559 |
Leases | Leases We utilize operating leases for office and warehouse space, tower space, vehicles, and heavy equipment used in our operations. We also have finance leases for certain build-to-suit service centers. The following table presents our weighted average remaining lease term for our leases.
| September 30, 2025 |  | September 30, 2024
Weighted average remaining lease term (years) |  |  |
Finance leases | 15.7 |  | 16.7
Operating leases | 8.8 |  | 9.9
The following table represents our weighted average discount rate:
| September 30, 2025 |  | September 30, 2024
Weighted average discount rate |  |  |
Finance leases | 4.0 | % |  | 4.0 | %
Operating leases | 4.5 | % |  | 4.1 | %
Lease costs for the years ended September 30, 2025, 2024, and 2023 are presented in the table below. These costs include both amounts recognized in expense and amounts capitalized. For the years ended September 30, 2025, 2024, and 2023 we did not have material short-term lease costs or variable lease costs.
|  |  | Year Ended September 30
|  |  | 2025 |  | 2024 |  | 2023
|  |  | (In thousands)
Finance lease cost |  |  | $ | 4,467 |  |  | $ | 4,523 |  |  | $ | 4,499 |
Operating lease cost |  |  | 56,695 |  |  | 48,421 |  |  | 44,090 |
Total lease cost |  |  | $ | 61,162 |  |  | $ | 52,944 |  |  | $ | 48,589 |
Our ROU assets and lease liabilities are presented as follows on the consolidated balance sheets:
| Balance Sheet Classification | September 30, 2025 |  | September 30, 2024
|  | (In thousands)
Assets |  |  |  |
Finance leases | Net property, plant and equipment | $ | 42,064 |  |  | $ | 44,748 |
Operating leases | Deferred charges and other assets | 293,934 |  |  | 249,556 |
Total right-of-use assets |  | $ | 335,998 |  |  | $ | 294,304 |
Liabilities |  |  |  |
Current |  |  |  |
Finance leases | Current maturities of long-term debt | $ | 1,775 |  |  | $ | 1,651 |
Operating leases | Other current liabilities | 45,010 |  |  | 34,340 |
Noncurrent |  |  |  |
Finance leases | Long-term debt | 45,459 |  |  | 47,239 |
Operating leases | Deferred credits and other liabilities | 262,549 |  |  | 224,498 |
Total lease liabilities |  | $ | 354,793 |  |  | $ | 307,728 |
Three service center leases are expected to commence in fiscal 2026 that impact our future lease payments. The total future lease payments for these leases is $116.5 million. We also entered into one service center lease during the first quarter of fiscal 2026 that is expected to commence in fiscal 2027. The total future lease payments for this lease is $33.1 million. These amounts are not included in the tables below. Other pertinent information related to leases was as follows. During the years ended September 30, 2025, 2024, and 2023 amounts paid in cash for our finance leases were not material.
| Year Ended September 30
| 2025 |  | 2024 |  | 2023
| (In thousands)
Cash paid amounts included in the measurement of lease liabilities |  |  |  |  |
Operating cash flows used for operating leases | $ | 52,528 |  |  | $ | 47,069 |  |  | $ | 45,463 |
Right-of-use assets obtained in exchange for lease obligations |  |  |  |  |
Finance leases | $ | — |  |  | $ | — |  |  | $ | — |
Operating leases | $ | 89,598 |  |  | $ | 65,672 |  |  | $ | 29,976 |
Maturities of our lease liabilities as of September 30, 2025 were as follows by fiscal years:
| Total | Finance Leases | Operating Leases
| (In thousands)
2026 | $ | 60,048 |  | $ | 3,502 |  | $ | 56,546 |
2027 | 55,881 |  | 3,568 |  | 52,313 |
2028 | 50,775 |  | 3,635 |  | 47,140 |
2029 | 44,304 |  | 3,703 |  | 40,601 |
2030 | 38,240 |  | 3,782 |  | 34,458 |
Thereafter | 189,621 |  | 44,877 |  | 144,744 |
Total lease payments | 438,869 |  | 63,067 |  | 375,802 |
Less: Imputed interest | 84,076 |  | 15,833 |  | 68,243 |
Total | $ | 354,793 |  | $ | 47,234 |  | $ | 307,559 |
Reported as of September 30, 2025 |  |  |
Short-term lease liabilities | $ | 46,785 |  | $ | 1,775 |  | $ | 45,010 |
Long-term lease liabilities | 308,008 |  | 45,459 |  | 262,549 |
Total lease liabilities | $ | 354,793 |  | $ | 47,234 |  | $ | 307,559 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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