Leases

12 Months Ended

Sep. 30, 2021

Note 15 — Leases

As discussed in Note

, the Company adopted ASU

No. 2016-02,

“Leases”,

the operating lease expense is recorded on a straight-line basis over the lease term.

Lease costs were as follows

(1)	Variable lease cost is immaterial.

Supplemental information related to operating lease transactions was as follows:


	Year Ended September 30,
	2021		2020
Lease liability payments	$	79,028	$	88,272
Lease assets obtained in exchange for liabilities	$	14,580	$	87,820


	As of September 30,
	2021			2020
Weighted average remaining lease term — Operating leases		6.4 Years			6.8 Years
Weighted average discount rate — Operating leases		3.7	%		3.5	%

The following maturity analysis presents future undiscounted cash outflows for operating leases as of September 30, 2021:


For the year ended September 30,
2022	$	66,791
2023		44,187
2024		34,473
2025		28,173
2026		22,814
Thereafter		86,134

Total lease payments	$	282,572
Less: imputed interest		(45,952	)

Present value of lease liabilities	$	236,620

As of September 30, 2021 and September 30, 2020, the Company had no material finance leases.

Rent expense per prior lease accounting (ASC 840), net of sublease income was approximately $65,692

for fiscal year 2019.