Leases

9 Months Ended

Jun. 30, 2024

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 $20,488 and $4,646, respectively, as of June 30, 2024, and $19,496 and $4,301, respectively, as of September 30, 2023, 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, 2024 are as follows:


	Operating Leases		Finance Leases		Total
Remainder of 2024	$	5,650	$	1,204	$	6,854
2025	20,361		4,614		24,975
2026	16,544		3,828		20,372
2027	11,507		2,039		13,546
2028	6,403		301		6,704
Thereafter	5,936		46		5,982
Total undiscounted lease payments	$	66,401	$	12,032	$	78,433
Less: imputed interest	7,198		927		8,125
Present value of lease liabilities	$	59,203	$	11,105	$	70,308

The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of June 30, 2024 is $8,704.

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


	Three Months Ended						Nine Months Ended
	June 30, 2024		June 30, 2023				June 30, 2024		June 30, 2023
Operating lease cost	$	5,405	$	4,524	$	0	$	16,819	$	13,857
Finance lease cost
Amortization of lease assets	1,073		865				3,207		2,551
Interest on lease liabilities	206		180				605		546
Finance lease cost	1,279		1,045				3,812		3,097
Short-term lease cost	434		599				1,244		1,701
Variable lease cost	$	1,011	$	812			$	3,092	$	1,886
Total lease cost	$	8,129	$	6,980			$	24,967	$	20,541

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


	Three Months Ended				Nine Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Operating cash flows used for operating leases	$	6,088	$	5,856	$	18,152	$	17,674
Operating cash flows used for finance leases	207		180		605		546
Right-of-use assets obtained in exchange for new operating lease liabilities	5,116		5,119		12,691		14,310
Right-of-use assets obtained in exchange for new finance lease liabilities	284		981		1,268		5,807


	June 30, 2024		September 30, 2023
Weighted-average remaining lease term - operating leases	3.9 years		4.5 years
Weighted-average remaining lease term - finance leases	2.9 years		3.4 years
Weighted-average discount rate - operating leases	5.4	%	5.1	%
Weighted-average discount rate - finance leases	6.3	%	6.0	%