Leases

6 Months Ended

Mar. 31, 2024

Total lease expense included in selling, general and administrative expenses in our unaudited condensed consolidated statements of income for the three and six months ended March 31, 2024 and 2023 is as follows (in thousands):


	Three Months Ended March 31,				Six Months Ended March 31,
	2024		2023		2024			2023
Operating lease expense – fixed payments	$	1,292	$	1,288	$	2,584		$	2,547
Variable lease expense	411		359		861			786
Short-term and other lease expense (includes $118 and $63 recorded in advertising and marketing for the three months ended March 31, 2024 and 2023, respectively, and $225 and $127 for the six months ended March 31, 2024 and 2023, respectively; and $147 and $138 recorded in repairs and maintenance for the three months ended March 31, 2024 and 2023, respectively, and $288 and $265 for the six months ended March 31, 2024 and 2023, respectively; see Note 5)	347		319		677			586
Sublease income	—		—		—			—
Total lease expense, net	$	2,050	$	1,966	$	4,122		$	3,919

Other information:
Operating cash outflows from operating leases	$	2,016	$	1,920	$	4,049		$	3,830
Weighted average remaining lease term – operating leases					10.1 years			10.9 years
Weighted average discount rate – operating leases					5.8		%	5.7		%

Future maturities of operating lease liabilities as of March 31, 2024 are as follows (in thousands):


	Principal Payments		Interest Payments		Total Payments
April 2024 - March 2025	$	3,098	$	1,970	$	5,068
April 2025 - March 2026	3,370		1,788		5,158
April 2026 - March 2027	3,588		1,589		5,177
April 2027 - March 2028	3,218		1,390		4,608
April 2028 - March 2029	3,038		1,213		4,251
Thereafter	20,379		4,046		24,425
	$	36,691	$	11,996	$	48,687