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Leases | 12 Months Ended
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Sep. 30, 2021
Leases [Abstract] |
Leases | NOTE 12: LEASES The weighted-average remaining lease term for operating leases as of September 30, 2021 was 5.08 years, which includes options to extend when it is reasonably certain that we will exercise the option. We used incremental borrowing rates that match the duration of the remaining lease terms of our operating leases on a fully collateralized basis upon adoption as of October 1, 2019 to initially measure our lease liability. The weighted average incremental borrowing rate used to measure the lease liability as of September 30, 2021 was 5.92%. The details of our right-of-use asset and lease liability recognized upon adoption of ASC 842 was computed based on the consumer price index and foreign currency exchange rate as applicable then in effect and excluding executory costs on October 1, 2019, were as follows (in thousands):
Right-of-use asset | $ | 246,028 |
Straight-line rent accrual | (8,479) |
Net right-of-use asset | $ | 237,549 |
Lease liability, current | $ | 45,272 |
Lease liability, non-current | 200,756 |
Total lease liability | $ | 246,028 |
The table below presents balances of our operating leases:
(in thousands) | September 30, 2021 |  | September 30, 2020
Right-of-use asset | $ | 200,990 |  |  | $ | 183,809 |
Lease liability, current | $ | 52,263 |  |  | $ | 49,742 |
Lease liability, non-current | 161,330 |  |  | 153,040 |
Total lease liability | $ | 213,593 |  |  | $ | 202,782 |
The table below provides the composition of our lease costs:
| Fiscal Year Ended September 30,
(in thousands) | 2021 |  | 2020 |  |
Operating lease expense | $ | 61,980 |  |  | $ | 62,925 |  |  |
Variable lease expense | 13,000 |  |  | 11,846 |  |  |
Total lease expense | $ | 74,980 |  |  | $ | 74,771 |  |  |
As of September 30, 2021, maturities of lease liabilities under ASC 842 by fiscal year were as follows (in thousands):
Fiscal 2022 | $ | 66,434 |
Fiscal 2023 | 55,068 |
Fiscal 2024 | 43,072 |
Fiscal 2025 | 32,833 |
Fiscal 2026 | 23,502 |
Thereafter | 39,390 |
Total lease liabilities | 260,299 |
Less: portion representing interest | 46,706 |
Total net lease liabilities | 213,593 |
Less: current portion | 52,263 |
Total long term net lease liabilities | $ | 161,330 |
In December 2014, we entered into a non-cancelable 13-year operating lease for our corporate offices, with rent payments beginning February 2016 and ending March 2029. Annual rent, net of square footage subsequently terminated as a result of negotiations with the landlord, escalate from $2.5 million at lease inception to $3.9 million in the terminal year of the lease. The lease includes two five-year extension options at the end of the initial lease term. The estimated minimum future rental payments under the lease are approximately $27.9 million as of September 30, 2021. During fiscal 2017 and 2016, we initiated subleases for a portion of our corporate operating office lease for estimated minimum future sublease payments of approximately $12.2 million. In addition to the above subleases, during fiscal 2018 we entered into an amendment to the operating lease surrendering another 15% of the initial leased premises. As a result, sublease payments were expected to fully offset our original operating lease obligations through August 2022, with renewal options available until the end of the master operating lease in March 2029. During the second quarter of fiscal 2015, we entered into cancellable subleases for our Miami office for an estimated minimum future sublease payment of approximately $2.9 million. Sublease payments are expected to offset substantially all of our original operating lease obligations over the nine-year period beginning March 2015 and ending September 2024. The following table presents the amount of net rent recognized as expense under ASC Topic 840 — Leases (in thousands):
|  |  |  |  | Fiscal Year Ended September 30,
|  |  |  |  | 2019
Gross rent expense from continuing operations |  |  |  |  | $ | 65,295 |
Sublease rent revenue from continuing operations |  |  |  |  | (35) |
Net rent expense from continuing operations |  |  |  |  | $ | 65,260 |
As a result of the COVID-19 pandemic, we believe there was a significant adverse change in the business climate that impacted the office leasing market and a significant decrease in the market prices of an asset or asset group that affected the value of the right of use asset for our corporate office. We determined the undiscounted cash flows of the subleases did not exceed the net book value of the right of use asset. We then determined the discounted cash flows of the subleases did not exceed the book value of the right of use asset, and an impairment charge of $5.0 million was recorded in the fourth quarter of fiscal 2020 and is recorded under “Impairment of goodwill, intangible and other assets” in the Consolidated Statements of Operations. No such charge was taken in fiscal year 2021. We recorded $62.8 million and $29.2 million in non-cash additions to our right of use assets and lease liabilities for the fiscal year ended September 30, 2021 and 2020, respectively.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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