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Property and Equipment, net
 12 Months Ended
Sep. 30, 2024
Property, Plant and Equipment, Net [Abstract]  
Property and Equipment, net Property and Equipment, net
Property and equipment is stated at cost, and reported net of accumulated depreciation and amortization on the Consolidated Balance Sheets. Depreciation on property and equipment is generally calculated using the straight-line method over the relevant asset’s estimated useful life. The estimated useful lives of property and equipment range from 3 to 10 years. During the years ended September 30, 2024, 2023, and 2022, depreciation expense was $45.6 million, $36.3 million, and $30.0 million respectively.
The Company capitalized $36.1 million and $29.9 million of software development costs during the years ended September 30, 2024 and September 30, 2023.
The Company wrote off $4.8 million of fully depreciated property and equipment assets during the fiscal year ended September 30, 2024.
A summary of property and equipment, at cost less accumulated depreciation and amortization as of September 30, 2024 and 2023 is as follows:
September 30,
(in millions)20242023
Property and equipment:
Furniture and fixtures$21.4 $17.5 
Software41.5 38.1 
Equipment57.9 49.9 
Leasehold improvements56.7 47.7 
Capitalized software development113.1 77.0 
Total property and equipment290.6 230.2 
Less: accumulated depreciation and amortization(147.5)(106.7)
Property and equipment, net$143.1 $123.5