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Leases (Tables)
9 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Schedule of Lease Expense
The components of lease expense during the three and nine months ended June 30, 2023 and 2022 were as follows:

Three Months Ended June 30,Nine Months Ended June 30,
Lease Expense2023202220232022
Operating lease expense(1)
$7,765 $4,990 $21,742 $17,724 
Finance lease expense:
Amortization of leased assets227 18 552 54 
Interest on lease liabilities88 210 
Variable lease expense2,186 1,586 6,443 4,059 
Sublease income(29)(32)(86)(122)
Total net lease expense$10,237 $6,563 $28,861 $21,717 
(1)    Excludes the expense for short-term leases not accounted for under ASC 842, which was not significant for the three and nine months ended June 30, 2023 and 2022.
Schedule of Supplemental Information
Supplemental balance sheet, cash flow and other information related to our leases was as follows (in thousands, except lease term and discount rate):

LeasesClassificationJune 30, 2023September 30, 2022
Assets:
Operating lease assets
Right-of-use assets for operating leases(1)
$182,111 $132,038 
Finance lease assets
Property and equipment, net(2)
5,073 22 
Total leased assets$187,184 $132,060 
LeasesClassificationJune 30, 2023September 30, 2022
Liabilities:
Current
   Operating lease liabilities
Operating lease liability, current portion(1)
$21,290 $12,959 
   Finance lease liabilitiesLong-term debt, current portion823 23 
Noncurrent
   Operating lease liabilities
Operating lease liability(1)
170,886 129,302 
   Finance lease liabilitiesLong-term debt4,976 — 
Total lease liabilities$197,975 $142,284 

(1)     As noted in Note 4, during the nine months ended June 30, 2023, our right-of-use assets and operating lease liability increased due to the acquisition of Concorde. This increase was partially offset in March 2023, with the purchase of the three primary buildings and associated land that we previously leased at the UTI Orlando, Florida campus, as discussed in Note 8. This purchase reduced our right-of-use assets balance by approximately $10.5 million and our leased liabilities by approximately $12.4 million.
(2)     The finance lease assets and liabilities as of June 30, 2023, consist of one facility lease and as of September 30, 2022, were made up of three equipment leases. Finance lease assets are recorded net of accumulated amortization of $0.5 million and $0.2 million as of June 30, 2023 and September 30, 2022, respectively.

Lease Term and Discount RateJune 30, 2023September 30, 2022
Weighted-average remaining lease term (in years):
   Operating leases8.128.92
   Finance lease5.580.33
Weighted average discount rate:
   Operating leases4.77 %3.91 %
   Finance lease6.02 %3.08 %

Nine Months Ended June 30,
Supplemental Disclosure of Cash Flow and Other Information20232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$16,094 $9,174 
Financing cash flows from finance leases499 55 
Non-cash activity related to lease liabilities:
   Lease assets obtained in exchange for new operating lease liabilities (1)
$4,857 $7,899 
(1) Excludes the operating leases recorded for the Concorde and MIAT acquisitions discussed in Note 4. During the three months ended June 30, 2023, Concorde renewed the campus lease for their Orlando, Florida campus and signed a new lease for a smaller corporate office in Kansas City, Kansas.
Schedule Operating Lease Liabilities Maturities Maturities of lease liabilities were as follows:
As of June 30, 2023
Years ending September 30,Operating LeasesFinance Lease
Remainder of 2023$4,933 $284 
202431,228 1,159 
202530,584 1,193 
202629,533 1,229 
202727,994 1,266 
2028 and thereafter107,106 1,743 
Total lease payments231,378 6,874 
Less: interest(39,202)(1,075)
Present value of lease liabilities192,176 5,799 
Less: current lease liabilities(21,290)(823)
Long-term lease liabilities$170,886 $4,976 
Schedule of Finance Lease Liabilities Maturities Maturities of lease liabilities were as follows:
As of June 30, 2023
Years ending September 30,Operating LeasesFinance Lease
Remainder of 2023$4,933 $284 
202431,228 1,159 
202530,584 1,193 
202629,533 1,229 
202727,994 1,266 
2028 and thereafter107,106 1,743 
Total lease payments231,378 6,874 
Less: interest(39,202)(1,075)
Present value of lease liabilities192,176 5,799 
Less: current lease liabilities(21,290)(823)
Long-term lease liabilities$170,886 $4,976