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Leases

3 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases of Lessee Disclosure

13. LEASES

We enter into various contractual arrangements for the right to use facilities, vehicles and equipment. The lease term generally ranges from two to ten years for facilities and three to five years for vehicles and equipment. Our lease terms may include the exercise of renewal or termination options when it is reasonably certain these options will be exercised. Our lease agreements do not contain any material residual value guarantees or restrictive covenants.

Current operating and finance liabilities of $12,414 and $535, respectively, were included in "Accounts payable and accrued expenses" in the Condensed Consolidated Balance Sheets as of December 31, 2020. Non-current finance lease liabilities and finance lease right-of-use assets were included in the "Other non-current liabilities" and "Other non-current assets", respectively, in the Condensed Consolidated Balance Sheets.

The maturities of our lease liabilities as of December 31, 2020 are as follows:

			Operating Leases						Finance Leases						Total
Remainder of 2021			$	9,698					$	415					$	10,113
2022			10,655						527						11,182
2023			7,437						525						7,962
2024			4,461						493						4,954
2025			2,822						290						3,112
Thereafter			4,506						7						4,513
Total undiscounted lease payments			$	39,579					$	2,257					$	41,836
Less: imputed interest			3,258						217						3,475
Present value of lease liabilities			$	36,321					$	2,040					$	38,361

The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of December 31, 2020, is $6,986.

Lease cost recognized in our Condensed Consolidated Statements of Comprehensive Income is summarized as follows:

			Three Months Ended
			December 31, 2020
Operating lease cost			$	3,246
Finance lease cost
Amortization of lease assets			109
Interest on lease liabilities			23
Finance lease cost			132
Short-term lease cost			313
Variable lease cost			289
Total lease cost			$	3,980

Other information about lease amounts recognized in our Condensed Consolidated Financial Statements is summarized as follows:

			Three Months Ended
			December 31, 2020
Operating cash flows used for operating leases			$	3,651
Operating cash flows used for finance leases			23
Right-of-use assets obtained in exchange for new operating lease liabilities			7,760
Right-of-use assets obtained in exchange for new finance lease liabilities			564

			December 31, 2020
Weighted-average remaining lease term - operating leases			4.4 years
Weighted-average remaining lease term - finance leases			4.4 years
Weighted-average discount rate - operating leases			3.6		%
Weighted-average discount rate - finance leases			4.8		%

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- References

No definition available.

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- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-URI http://asc.fasb.org/topic&trid=2208923

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