Leases (Tables)

6 Months Ended

Mar. 31, 2020

The following illustrates the components of lease cost for the periods presented:



(in thousands)	Three months ended March 31, 2020		Six months ended March 31, 2020
Operating lease cost	$	30,772	$	60,707
Short-term lease cost	1,265		2,791
Variable lease cost	3,688		8,544
Total lease cost	$	35,725	$	72,042

Other cash flow information related to operating leases is as follows:



(in thousands)	Six months ended March 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating lease cash payments	$	57,390

Right-of-use assets obtained in exchange for lease liabilities
New operating leases	$	32,539
Leases recognized upon adoption of ASC 842	$	526,281

Summarized balance sheet information

The following summarizes balance sheet information related to operating leases:



(in thousands, except for lease term and discount rate)	March 31, 2020
Right of use assets
Other assets	$	484,933

Lease liabilities
Accrued expenses and other	$	97,897
Other long-term liabilities	428,061
Total lease liabilities	$	525,958

Weighted-average remaining lease term	7.49 years
Weighted-average discount rate	3.64%

Future minimum rental payments, operating leases

Future minimum rental payments under noncancellable operating leases were as follows:



Payments Due by Fiscal Year (in thousands)	As of March 31, 2020
2020	$	59,278
2021	114,431
2022	109,373
2023	99,508
2024	91,790
Thereafter	461,110
Total future undiscounted lease payments	935,490
Less: Future payments for leases that have not yet commenced ¹	(300,346		)
Less: Imputed interest	(109,186		)
Total lease liabilities	$	525,958

¹ The Company has certain leases that it has executed for which it does not control the underlying assets; therefore, lease liabilities and ROU assets were not recorded on the Company's Consolidated Balance Sheet as of March 31, 2020. These future commitments primarily relate to the Company's new general corporate and administrative office.

Future minimum rental payments, operating leases

As previously disclosed in the Company's fiscal 2019 Annual Report on Form 10-K under the prior accounting guidance, the future minimum rental payments under noncancellable operating leases and financing obligations as of September 30, 2019 were as follows:



Payments Due by Fiscal Year (in thousands)	Operating Leases		Financing Obligations ¹		Total
2020	$	94,958	$	22,468	$	117,426
2021	84,002		29,790		113,792
2022	72,224		36,914		109,138
2023	63,507		35,950		99,457
2024	56,377		35,276		91,653
Thereafter	177,267		270,410		447,677
Total minimum lease payments	$	548,335	$	430,808	$	979,143

¹ Represents the portion of future minimum lease payments related to facility leases where the Company was determined to be the accounting owner (see Note 1 of the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the fiscal year ended September 30, 2019 for a more detailed description of the Company's accounting for leases prior to the adoption of ASC 842). These payments were recognized as reductions to the financing obligation and as interest expense and excluded the future non-cash termination of the financing obligation.

Future minimum rental payments, financing obligations



Payments Due by Fiscal Year (in thousands)	Operating Leases		Financing Obligations ¹		Total
2020	$	94,958	$	22,468	$	117,426
2021	84,002		29,790		113,792
2022	72,224		36,914		109,138
2023	63,507		35,950		99,457
2024	56,377		35,276		91,653
Thereafter	177,267		270,410		447,677
Total minimum lease payments	$	548,335	$	430,808	$	979,143

¹ Represents the portion of future minimum lease payments related to facility leases where the Company was determined to be the accounting owner (see Note 1 of the Notes to Consolidated Financial Statements in our Annual Report on Form 10-K for the fiscal year ended September 30, 2019 for a more detailed description of the Company's accounting for leases prior to the adoption of ASC 842). These payments were recognized as reductions to the financing obligation and as interest expense and excluded the future non-cash termination of the financing obligation.