Leases (Tables)

6 Months Ended

Mar. 31, 2024

Schedule of Lessee Assets and Liabilities

The table below presents balances of our lease assets and liabilities and their balance sheet locations for both operating and financing leases:


(in thousands)	Balance Sheet Location	March 31, 2024		March 31, 2023		September 30, 2023
Lease assets:
Operating lease right-of-use assets	Right-of-use assets, net	$	243,752	$	234,287	$	234,388
Financing lease assets	Other assets	2,094		1,289		2,178
Total lease assets		$	245,846	$	235,576	$	236,566




Lease liabilities:
Current:
Operating lease liabilities	Operating lease liabilities, current	$	55,658	$	53,921	$	57,182
Financing lease liabilities	Accounts payable, accrued expenses and other current liabilities	583		282		530
Total current lease liabilities		$	56,241	$	54,203	$	57,712

Non-current:
Operating lease liabilities	Operating lease liabilities	$	197,285	$	191,874	$	193,187
Financing lease liabilities	Other long-term liabilities	1,626		1,024		1,715
Total non-current lease liabilities		$	198,911	$	192,898	$	194,902
Total lease liabilities		$	255,152	$	247,101	$	252,614

Schedule of Lease Cost

The table below provides major components of our lease costs:


	Three Months Ended March 31,				Six Months Ended March 31,
(in thousands)	2024		2023		2024		2023

Operating lease cost:
Operating lease cost *	$	19,840	$	18,023	$	38,906	$	35,518
Variable lease cost	4,643		4,028		8,858		7,880
Total operating lease cost	$	24,483	$	22,051	$	47,764	$	43,398

Financing lease cost:
Amortization of financing lease assets	$	164	$	55	$	315	$	74
Interest on financing lease liabilities	63		24		128		35
Total financing lease cost	$	227	$	79	$	443	$	109
Total lease cost	$	24,710	$	22,130	$	48,207	$	43,507

* Includes a reduction for sublease rental income of $0.6 million and $1.1 million for the three months ended March 31, 2024 and 2023, respectively, and $1.7 million and $1.8 million for the six months ended March 31, 2024 and 2023, respectively.

The weighted-average term and discount rates for leases are as follows:


	Six Months Ended March 31,
	2024		2023

Weighted-average remaining lease term (years):
Operating leases	4.88		5.16
Financing leases	3.17		3.97

Weighted-average discount rate:
Operating leases	8.41	%	8.42	%
Financing leases	11.14	%	11.14	%

Schedule of Operating Lease Maturity

As of March 31, 2024, maturities of lease liabilities under ASC 842 by fiscal year were as follows:


(in thousands)	Operating Leases		Financing Leases
Remaining 2024	$	35,375	$	382
Fiscal 2025	75,330		849
Fiscal 2026	64,181		849
Fiscal 2027	49,593		536
Fiscal 2028	34,224		28
Thereafter	50,899		—
Total lease liabilities	$	309,602	$	2,644
Less: portion representing imputed interest	56,659		435
Total net lease liabilities	$	252,943	$	2,209
Less: current portion	55,658		583
Total long term net lease liabilities	$	197,285	$	1,626