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Leases

6 Months Ended

Mar. 31, 2023

Leases [Abstract]

Leases

12. 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 lease liabilities of $17,227 and $4,040, respectively, as of March 31, 2023, and $17,319 and $2,928, respectively, as of September 30, 2022, 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 March 31, 2023 are as follows:

			Operating Leases						Finance Leases						Total
Remainder of 2023			$	13,524					$	3,169					$	16,693
2024			15,081						4,180						19,261
2025			11,570						3,832						15,402
2026			8,064						2,659						10,723
2027			4,742						982						5,724
Thereafter			7,290						10						7,300
Total undiscounted lease payments			$	60,271					$	14,832					$	75,103
Less: imputed interest			6,360						1,751						8,111
Present value of lease liabilities			$	53,911					$	13,081					$	66,992

The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of March 31, 2023 is $4,704.

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

			Three Months Ended												Six Months Ended
			March 31, 2023						March 31, 2022						March 31, 2023						March 31, 2022
Operating lease cost			$	4,407					$	4,157		$	0		$	9,333					$	8,160
Finance lease cost
Amortization of lease assets			1,011						332						1,686						603
Interest on lease liabilities			216						56						366						104
Finance lease cost			1,227						388						2,052						707
Short-term lease cost			513						491						1,102						776
Variable lease cost			661						485						1,074						957
Total lease cost			$	6,808					$	5,521					$	13,561					$	10,600

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

			Three Months Ended												Six Months Ended
			March 31, 2023						March 31, 2022						March 31, 2023						March 31, 2022
Operating cash flows used for operating leases			$	5,867					$	5,111					$	11,818					$	9,351
Operating cash flows used for finance leases			216						56						366						104
Right-of-use assets obtained in exchange for new operating lease liabilities			2,872						3,984						9,191						11,499
Right-of-use assets obtained in exchange for new finance lease liabilities			1,882						1,328						4,826						2,582

			March 31, 2023						September 30, 2022
Weighted-average remaining lease term - operating leases			4.6 years						4.8 years
Weighted-average remaining lease term - finance leases			3.8 years						3.9 years
Weighted-average discount rate - operating leases			4.1		%				4.0		%
Weighted-average discount rate - finance leases			4.6		%				4.7		%

Leases

12. 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 lease liabilities of $17,227 and $4,040, respectively, as of March 31, 2023, and $17,319 and $2,928, respectively, as of September 30, 2022, 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 March 31, 2023 are as follows:

			Operating Leases						Finance Leases						Total
Remainder of 2023			$	13,524					$	3,169					$	16,693
2024			15,081						4,180						19,261
2025			11,570						3,832						15,402
2026			8,064						2,659						10,723
2027			4,742						982						5,724
Thereafter			7,290						10						7,300
Total undiscounted lease payments			$	60,271					$	14,832					$	75,103
Less: imputed interest			6,360						1,751						8,111
Present value of lease liabilities			$	53,911					$	13,081					$	66,992

The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of March 31, 2023 is $4,704.

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

			Three Months Ended												Six Months Ended
			March 31, 2023						March 31, 2022						March 31, 2023						March 31, 2022
Operating lease cost			$	4,407					$	4,157		$	0		$	9,333					$	8,160
Finance lease cost
Amortization of lease assets			1,011						332						1,686						603
Interest on lease liabilities			216						56						366						104
Finance lease cost			1,227						388						2,052						707
Short-term lease cost			513						491						1,102						776
Variable lease cost			661						485						1,074						957
Total lease cost			$	6,808					$	5,521					$	13,561					$	10,600

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

			Three Months Ended												Six Months Ended
			March 31, 2023						March 31, 2022						March 31, 2023						March 31, 2022
Operating cash flows used for operating leases			$	5,867					$	5,111					$	11,818					$	9,351
Operating cash flows used for finance leases			216						56						366						104
Right-of-use assets obtained in exchange for new operating lease liabilities			2,872						3,984						9,191						11,499
Right-of-use assets obtained in exchange for new finance lease liabilities			1,882						1,328						4,826						2,582

			March 31, 2023						September 30, 2022
Weighted-average remaining lease term - operating leases			4.6 years						4.8 years
Weighted-average remaining lease term - finance leases			3.8 years						3.9 years
Weighted-average discount rate - operating leases			4.1		%				4.0		%
Weighted-average discount rate - finance leases			4.6		%				4.7		%

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 https://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 https://asc.fasb.org/subtopic&trid=77888251

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