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Leases

9 Months Ended

Jun. 30, 2022

Leases [Abstract]

Leases

13. LEASES

We enter into various contractual arrangements for the right to use facilities, vehicles and equipment. The lease terms generally range 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 $14,919 and $1,998, respectively, as of June 30, 2022, and $13,973 and $1,033, respectively, as of September 30, 2021, were included in “Accounts payable and accrued expenses” in the Condensed Consolidated Balance Sheets. 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 June 30, 2022 are as follows:

			Operating Leases						Finance Leases						Total
Remainder of 2022			$	8,111					$	1,024					$	9,135
2023			13,125						2,039						15,164
2024			9,761						2,003						11,764
2025			6,889						1,714						8,603
2026			4,321						840						5,161
Thereafter			4,806						92						4,898
Total undiscounted lease payments			$	47,013					$	7,712					$	54,725
Less: imputed interest			4,138						618						4,756
Present value of lease liabilities			$	42,875					$	7,094					$	49,969

The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of June 30, 2022 is $804.

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

			Three Months Ended												Nine Months Ended
			June 30, 2022						June 30, 2021						June 30, 2022						June 30, 2021
Operating lease cost			$	3,947					$	3,287		$	0		$	12,107					$	10,337
Finance lease cost
Amortization of lease assets			435						176						1,039						418
Interest on lease liabilities			71						33						175						81
Finance lease cost			506						209						1,214						499
Short-term lease cost			321						330						1,097						880
Variable lease cost			483						321						1,439						954
Total lease cost			$	5,257					$	4,147					$	15,857					$	12,670

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

			Three Months Ended												Nine Months Ended
			June 30, 2022						June 30, 2021						June 30, 2022						June 30, 2021
Operating cash flows used for operating leases			$	4,956					$	3,401					$	14,307					$	11,051
Operating cash flows used for finance leases			71						33						175						81
Right-of-use assets obtained in exchange for new operating lease liabilities			2,790						5,834						14,289						20,799
Right-of-use assets obtained in exchange for new finance lease liabilities			1,686						1,032						4,268						1,992

			June 30, 2022						September 30, 2021
Weighted-average remaining lease term - operating leases			4.2 years						5.0 years
Weighted-average remaining lease term - finance leases			4.0 years						4.2 years
Weighted-average discount rate - operating leases			3.5		%				3.7		%
Weighted-average discount rate - finance leases			4.3		%				4.3		%

Leases

13. LEASES

We enter into various contractual arrangements for the right to use facilities, vehicles and equipment. The lease terms generally range 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 $14,919 and $1,998, respectively, as of June 30, 2022, and $13,973 and $1,033, respectively, as of September 30, 2021, were included in “Accounts payable and accrued expenses” in the Condensed Consolidated Balance Sheets. 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 June 30, 2022 are as follows:

			Operating Leases						Finance Leases						Total
Remainder of 2022			$	8,111					$	1,024					$	9,135
2023			13,125						2,039						15,164
2024			9,761						2,003						11,764
2025			6,889						1,714						8,603
2026			4,321						840						5,161
Thereafter			4,806						92						4,898
Total undiscounted lease payments			$	47,013					$	7,712					$	54,725
Less: imputed interest			4,138						618						4,756
Present value of lease liabilities			$	42,875					$	7,094					$	49,969

The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of June 30, 2022 is $804.

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

			Three Months Ended												Nine Months Ended
			June 30, 2022						June 30, 2021						June 30, 2022						June 30, 2021
Operating lease cost			$	3,947					$	3,287		$	0		$	12,107					$	10,337
Finance lease cost
Amortization of lease assets			435						176						1,039						418
Interest on lease liabilities			71						33						175						81
Finance lease cost			506						209						1,214						499
Short-term lease cost			321						330						1,097						880
Variable lease cost			483						321						1,439						954
Total lease cost			$	5,257					$	4,147					$	15,857					$	12,670

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

			Three Months Ended												Nine Months Ended
			June 30, 2022						June 30, 2021						June 30, 2022						June 30, 2021
Operating cash flows used for operating leases			$	4,956					$	3,401					$	14,307					$	11,051
Operating cash flows used for finance leases			71						33						175						81
Right-of-use assets obtained in exchange for new operating lease liabilities			2,790						5,834						14,289						20,799
Right-of-use assets obtained in exchange for new finance lease liabilities			1,686						1,032						4,268						1,992

			June 30, 2022						September 30, 2021
Weighted-average remaining lease term - operating leases			4.2 years						5.0 years
Weighted-average remaining lease term - finance leases			4.0 years						4.2 years
Weighted-average discount rate - operating leases			3.5		%				3.7		%
Weighted-average discount rate - finance leases			4.3		%				4.3		%

X

- References

No definition available.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=77888251

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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

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