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Note 10 - Leases

12 Months Ended

Sep. 30, 2025

10. Leases

The Company has operating and finance leases for real estate and other assets in North America, Europe, and Asia. Non-real estate leases are primarily related to vehicles and office equipment. Lease expiration dates range between 2025 and 2043.

The components of lease expense for fiscal years 2025 and 2024 are as follows (in thousands):

	*Year Ended September 30,*
	*2025*			*2024*

Operating lease costs	$	10,251		$	11,008
Finance lease costs:
Amortization of assets		674			408
Interest on lease liabilities		(44	)		68
Total finance lease costs		630			476
Total operating and finance lease costs		10,881			11,484
Variable lease costs		3,293			2,977
Short-term lease costs		227			237
Total lease costs	$	14,401		$	14,698

Supplemental balance sheet information related to leases is as follows (in thousands, except lease term and discount rate):

	*September 30, 2025*			*September 30, 2024*
Operating Leases:
Operating lease right-of-use assets	$	54,048		$	60,406

Accrued expenses and other current liabilities	$	7,175		$	8,089
Long-term operating lease liabilities		51,244			56,677
Total operating lease liabilities	$	58,419		$	64,766

Finance Leases:
Property, plant and equipment, at cost	$	2,656		$	4,570
Accumulated amortization		(1,408	)		(3,234	)
Property, plant and equipment, net	$	1,248		$	1,336

Accrued expenses and other current liabilities	$	607		$	578
Other long-term liabilities		903			975
Total finance lease liabilities	$	1,510		$	1,553

Weighted average remaining lease term (in years):
Operating leases		10.60			11.00
Finance leases		2.85			3.06

Weighted average discount rate:
Operating leases		4.78	%		4.70	%
Finance leases		7.17	%		4.93	%

Supplemental cash flow information related to leases is as follows (in thousands):

	*Year Ended September 30,*
	*2025*		*2024*
Cash paid for amounts included in measurement of liabilities:
Operating cash flows - operating leases	$	10,827	$	11,105
Operating cash flows - finance leases	$	99	$	68
Financing cash flows - finance leases	$	746	$	528

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	563	$	9,001
Finance leases	$	561	$	596

Future lease payments for operating leases as of September 30, 2025 are as follows for the subsequent five fiscal years and thereafter (in thousands):

	*Finance Leases*			*Operating Leases*
2026	$	673		$	9,755
2027		521			9,210
2028		321			8,677
2029		99			7,437
2030		37			6,096
Thereafter		—			34,624
Total future lease payments		1,651			75,799
Less imputed interest		(141	)		(17,380	)
Total lease liability balance	$	1,510		$	58,419

As of September 30, 2025, in addition to the amounts disclosed above, the Company has lease commitments of approximately $4.5 million for an operating lease that was signed and will commence in the first quarter of fiscal year 2026.