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v3.23.3

Leases | 12 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Leases | Note 16 — Leases As discussed in Note 2, the operating lease expense is recorded on a straight-line basis over the lease term. Lease costs were as follows:
|  | Year Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Total net lease cost(1),(2) |  | $ | 64,696 |  |  | $ | 107,883 |  |  | $ | 97,169 |
(1) The lease cost includes immaterial amounts of lease income. The decline in net lease cost for the fiscal year 2023, compared to both fiscal years 2022 and 2021, is primarily attributable to completion of the move during fiscal year 2023 from leased facilities in Ra’anana Israel to the Company owned facilities, leading to a change from primarily lease costs to other expenses, including depreciation and operational costs. (2) Variable lease cost is immaterial. Supplemental information related to operating lease transactions was as follows:
|  | Year Ended September 30, |
|  | 2023 |  |  | 2022 |
Lease liability payments |  | $ | 63,286 |  |  | $ | 79,495 |
Lease assets obtained in exchange for liabilities |  | $ | 31,626 |  |  | $ | 15,115 |
|  | As of September 30, |
|  | 2023 |  |  | 2022 |
Weighted average remaining lease term — Operating leases |  | 5.3 Years |  |  | 5.9 Years |
Weighted average discount rate — Operating leases |  |  | 3.9 | % |  |  | 3.5 | %
The following maturity analysis presents future undiscounted cash outflows for operating leases as of September 30, 2023:
For the year ended September 30, |  |  |
2024 |  | $ | 46,848 |
2025 |  |  | 37,603 |
2026 |  |  | 29,468 |
2027 |  |  | 21,488 |
2028 |  |  | 14,836 |
Thereafter |  |  | 30,827 |
Total lease payments |  | $ | 181,070 |
Less: imputed interest |  |  | (19,456 | )
Present value of lease liabilities |  | $ | 161,614 |
As of September 30, 2023 and September 30, 2022, the Company had no material finance leases.

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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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