Leases

12 Months Ended

Sep. 30, 2024

Leases [Abstract]

Leases

Leases

We have operating leases primarily for real estate, vehicles, and equipment. We have finance leases primarily for equipment. Our leases have remaining lease terms from less than one year to approximately 15 years.

The components of lease expense were (in millions):

	2024		2023		2022
Operating lease expense (1)	$	109.6	$	100.2	$	103.6
Variable lease expense (2)	20.4		18.8		16.6
Finance lease expense
Amortization of right-of-use assets	7.6		5.2		6.9
Interest on lease liabilities	0.2		0.3		0.6
Total lease expense	$	137.8	$	124.5	$	127.7

(1) Operating lease expense includes short-term lease expense, which was not material.

(2) Variable lease expense includes sublease income, which was not material.

Supplemental balance sheet information related to leases consists of:

	2024		2023
Weighted average remaining lease term
Operating leases	6.4 years		5.8 years
Finance leases	3.7 years		1.6 years
Weighted average discount rate
Operating leases	3.72	%	3.03	%
Finance leases	2.77	%	3.27	%

Undiscounted maturities of lease liabilities as of September 30, 2024, were (in millions):

	Finance Leases		Operating Leases
2025	$	6.5	$	104.5
2026	2.2		95.0
2027	2.2		78.4
2028	1.5		58.2
2029	—		41.3
Thereafter	—		128.8
Total undiscounted lease payments	$	12.4	$	506.2
Less: Imputed interest	(0.4)		(60.9)
Total lease liabilities	$	12.0	$	445.3

As of September 30, 2024, we have additional operating leases for facilities that have not yet commenced with undiscounted lease obligations of approximately $13.7 million. These leases will commence in fiscal 2025.

Supplemental cash flow information related to leases consists of (in millions):

	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	110.2	$	101.7	$	102.9
Operating cash flows from finance leases	0.2		0.3		0.6
Financing cash flows from finance leases	10.0		5.5		8.8
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	163.2	$	93.3	$	63.4
Financing leases	9.3		—		11.8