The Company leases office space, certain warehouses and equipment primarily through operating lease agreements. The Company has no material finance lease agreements. Leases have remaining terms which range from less than 1 year to 56 years and most leases provide the Company with the option to exercise one or more renewal terms. The weighted average remaining lease term of the Company’s operating leases was approximately 7 years at both December 31, 2020 and September 30, 2020, and the weighted average incremental borrowing rate was 4.48% and 4.40% at December 31, 2020 and September 30, 2020, respectively.

Right-of-use (“ROU”) assets are recorded as “Other assets” and lease liabilities are recorded as “Other current liabilities” and “Other liabilities” on the Condensed Consolidated Balance Sheets. Operating lease expense is recognized on a straight-line basis over the lease term and is included in either “Cost of goods sold” or “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Operations. Costs associated with finance leases and lease income do not have a material impact on the Company’s financial statements.


	December 31, 2020		September 30, 2020
ROU assets:
Other assets	$	112.1	$	116.3

Lease liabilities:
Other current liabilities	$	23.7	$	23.6
Other liabilities	98.4		103.0
Total lease liabilities	$	122.1	$	126.6


	December 31, 2020
Remaining Fiscal 2021	$	21.6
Fiscal 2022	27.9
Fiscal 2023	24.6
Fiscal 2024	17.9
Fiscal 2025	12.0
Thereafter	41.3
Total future minimum payments	$	145.3
Less: Implied interest	23.2
Total lease liabilities	$	122.1

The following table presents supplemental operations statement and cash flow information related to the Company’s operating leases.


	Three Months Ended December 31,
	2020		2019
Operating lease expense	$	10.4	$	11.0
Variable lease expense	1.5		1.2
Short-term lease expense	1.6		2.0
Operating cash outflows for operating leases	7.5		7.4
ROU assets obtained in exchange for operating lease liabilities	1.4		0.1