XML 24 R15.htm IDEA: XBRL DOCUMENT
v3.22.2

Leases | 9 Months Ended
--- | ---
Jun. 30, 2022
Leases [Abstract] |
Leases | Leases The majority of the Company's operating lease payments relate to its corporate headquarters in Seattle, Washington, which includes approximately 515,000 square feet of office space. The lease commenced in April 2019 and expires in 2033 with an option for renewal. The Company also leases additional office and lab space for product development and sales and support personnel in the United States and internationally. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of the Company's operating lease expenses for the three and nine months ended June 30, 2022 and 2021 were as follows (in thousands):
|  | Three months ended June 30, |  | Nine months ended June 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Operating lease expense |  | $ | 11,810 |  |  | $ | 11,899 |  |  | $ | 35,594 |  |  | $ | 36,238 |
Short-term lease expense |  | 683 |  |  | 741 |  |  | 1,858 |  |  | 2,302 |
Variable lease expense |  | 5,208 |  |  | 6,478 |  |  | 17,486 |  |  | 18,814 |
Total lease expense |  | $ | 17,701 |  |  | $ | 19,118 |  |  | $ | 54,938 |  |  | $ | 57,354 |
Variable lease expense primarily consists of common area maintenance, real estate taxes and parking expenses. Supplemental balance sheet information related to the Company's operating leases was as follows (in thousands, except lease term and discount rate):
|  | June 30, 2022 |  | September 30, 2021
Operating lease right-of-use assets, net |  | $ | 217,313 |  |  | $ | 244,934 |
Operating lease liabilities, current 1 |  | 43,529 |  |  | 49,286 |
Operating lease liabilities, long-term |  | 265,043 |  |  | 296,945 |
Total operating lease liabilities |  | $ | 308,572 |  |  | $ | 346,231 |
Weighted average remaining lease term (in years) |  | 9.5 |  | 9.7
Weighted average discount rate |  | 2.67 | % |  | 2.60 | %
(1)Current portion of operating lease liabilities is included in accrued liabilities on the Company's consolidated balance sheets. As of June 30, 2022, the future operating lease payments for each of the next five years and thereafter is as follows (in thousands):
Fiscal Years Ending September 30: |  | Operating Lease Payments
2022 (remainder) |  | $ | 13,897 |
2023 |  | 48,325 |
2024 |  | 41,311 |
2025 |  | 33,618 |
2026 |  | 26,462 |
2027 |  | 26,127 |
Thereafter |  | 164,860 |
Total lease payments |  | 354,600 |
Less: imputed interest |  | (46,028) |
Total lease liabilities |  | $ | 308,572 |
Operating lease liabilities above do not include sublease income. As of June 30, 2022, the Company expects to receive sublease income of approximately $14.3 million, which consists of $1.9 million to be received for the remainder of fiscal 2022 and $12.4 million to be received over the three fiscal years thereafter. There were no impairments against right-of-use assets for the three and nine months ended June 30, 2022 and the three months ended June 30, 2021. In the second quarter of fiscal 2021, the Company recorded an impairment of $23.5 million against the operating lease right-of-use asset related to the permanent exit of six floors in its corporate headquarters. In the first quarter of fiscal 2021, the Company recorded an impairment of $6.7 million against the right-of-use asset related to the integration of the former Shape headquarters in Santa Clara, California. As of June 30, 2022, the Company had no significant operating leases that were executed but not yet commenced.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration