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LEASES (Tables) | 12 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Lease, Cost | The following table presents the Company’s lease costs included in the Consolidated Statements of Operations for the fiscal year ended September 30:
(Thousands) | Income Statement Location | 2024 | 2023 | 2022
Operating lease cost (1) | Operation and maintenance | $ | 10,368 |  | $ | 9,336 |  | $ | 9,702 |
Finance lease cost |  |  |  |
Amortization of right-of-use assets | Depreciation and amortization | 2,160 |  | 2,105 |  | $ | 1,769 |
Interest on lease liabilities | Interest expense, net of capitalized interest | 914 |  | 1,084 |  | 612 |
Total finance lease cost |  | $ | 3,074 |  | $ | 3,189 |  | 2,381 |
Short-term lease cost | Operation and maintenance | — |  | — |  | 34 |
Variable lease cost | Operation and maintenance | 1,099 |  | 1,128 |  | 781 |
Total lease cost |  | $ | 14,541 |  | $ | 13,653 |  | $ | 12,898 |
(1)Net of capitalized costs. The following table presents supplemental cash flow information related to leases for the fiscal year ended September 30:
(Thousands) | 2024 | 2023 | 2022
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows for operating leases | $ | 7,932 |  | $ | 8,942 |  | $ | 7,417 |
Operating cash flows for finance leases | $ | 914 |  | $ | 1,084 |  | $ | 831 |
Financing cash flows for finance leases | $ | 7,792 |  | $ | 7,379 |  | $ | 7,145 |
Assets and Liabilities, Lessee | The following table presents the balance and classifications of the Company’s right of use assets and lease liabilities included in the Consolidated Balance Sheets for the fiscal year ended September 30:
(Thousands) | Balance Sheet Location | 2024 | 2023 |  |
Assets |  |  |  |  |
Noncurrent |  |  |  |  |
Operating lease assets | Operating lease assets | $ | 184,485 |  | $ | 175,740 |  |  |
Finance lease assets | Utility plant | 26,088 |  | 28,248 |  |  |
Total lease assets |  | $ | 210,573 |  | $ | 203,988 |  |  |
Liabilities |  |  |  |  |
Current |  |  |  |  |
Operating lease liabilities | Operating lease liabilities | $ | 4,945 |  | $ | 4,772 |  |  |
Finance lease liabilities | Current maturities of long-term debt | 7,534 |  | 8,477 |  |  |
Noncurrent |  |  |  |  |
Operating lease liabilities | Operating lease liabilities | 159,303 |  | 148,023 |  |  |
Finance lease liabilities | Long-term debt | 16,026 |  | 22,875 |  |  |
Total lease liabilities |  | $ | 187,808 |  | $ | 184,147 |  |  |
Operating Lease Liability, Maturity | The following table presents the Company’s maturities of lease liabilities as of September 30, 2024:
(Thousands) | Operating | Finance
2025 | $ | 8,408 |  | $ | 8,169 |
2026 | 8,852 |  | 6,411 |
2027 | 8,834 |  | 4,083 |
2028 | 8,925 |  | 4,715 |
2029 | 8,994 |  | 1,676 |
Thereafter | 233,942 |  | — |
Total future payments | 277,955 |  | 25,054 |
Less: interest | (113,707) |  | (1,494) |
Total liability | $ | 164,248 |  | $ | 23,560 |
Finance Lease Liability, Maturity | Contractual commitments for meter sale leaseback arrangements, which represent the most likely outcome of cash payments, as of the fiscal years ended September 30, are as follows:
(Thousands) | 2025 | 2026 | 2027 | 2028 | 2029 | Thereafter | Subtotal
Future payments | $ | 9,665 |  | 7,906 |  | 5,579 |  | 6,211 |  | 3,171 |  | 1,852 |  | $ | 34,384 |
Less: Interest component |  |  |  |  |  |  | (2,810) |
Total |  |  |  |  |  |  | $ | 31,574 |
The following table presents the Company’s maturities of lease liabilities as of September 30, 2024:
(Thousands) | Operating | Finance
2025 | $ | 8,408 |  | $ | 8,169 |
2026 | 8,852 |  | 6,411 |
2027 | 8,834 |  | 4,083 |
2028 | 8,925 |  | 4,715 |
2029 | 8,994 |  | 1,676 |
Thereafter | 233,942 |  | — |
Total future payments | 277,955 |  | 25,054 |
Less: interest | (113,707) |  | (1,494) |
Total liability | $ | 164,248 |  | $ | 23,560 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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