The Company determines if an arrangement is a lease at the inception of the agreement. The Company determines an arrangement is a lease if it conveys the right to control the use of the asset for a period of time in exchange for consideration.

The Company has operating and finance leases for branch and administrative offices, vehicles, certain machinery and equipment, furniture, and information technology assets. The Company’s leases have remaining lease terms of month to month up to 13 years with one or more exercisable renewal periods and specified increases in lease payments upon exercise of the renewal options. For purposes of calculating lease liabilities, lease terms may be deemed to include options to extend the lease when it is reasonably certain that the Company will exercise those options. Some leasing arrangements require variable payments that are dependent on usage, output, or may vary for other reasons, such as insurance, common area maintenance, and tax payments. The variable lease payments are not presented as part of the initial right-of-use asset or lease liability. The Company's lease agreements do not contain any material restrictive covenants or residual value guarantees.

The following table summarizes the lease-related assets and liabilities recorded in the consolidated balance sheet at March 31, 2020:

Operating leases:
Right-of-use asset	$	66.7
Current portion of lease liabilities		21.4
Lease liabilities		50.6
Total operating lease liabilities	$	72.0

Finance leases:
Right-of-use asset⁽¹⁾	$	12.9
Current portion of lease liabilities⁽²⁾		6.6
Lease liabilities⁽³⁾		1.1
Total finance lease liabilities	$	7.7

(1)	Included in “Property and equipment, net” in the consolidated balance sheet.

(2)	Included in “Accrued expenses and other liabilities” in the consolidated balance sheet.

(3)	Included in “Other liabilities” in the consolidated balance sheet.

As most of the Company’s leases do not specifically state an implicit rate, the Company uses an incremental borrowing rate consistent with the lease term as of the lease commencement date when calculating the present value of remaining lease payments. The incremental borrowing rate reflects the cost to borrow on a securitized basis. The remaining lease term does not reflect all renewal options available to the Company, only those renewal options that the Company has assessed as reasonably certain taking into consideration the economic factors noted above.

The weighted-average remaining lease terms and incremental borrowing rates as of March 31, 2020 are as follows:

Operating leases:
Weighted-average remaining lease term (years)	5.4
Weighted-average incremental borrowing rate	3.1	%

Finance leases:
Weighted-average remaining lease term (years)	1.8
Weighted-average incremental borrowing rate	3.2	%

The components of lease cost for operating and finance leases for the three and six months ended March 31, 2020 were as follows:

	Three Months Ended March 31,			Six Months Ended March 31,
	2020			2020
Operating lease cost	$	7.1		$	14.4
Finance lease cost:
Amortization of right-of-use asset		1.3			2.4
Interest on lease liabilities		—			0.1
Total finance lease cost		1.3			2.5
Short-term lease cost		7.7			14.0
Variable lease costs not included in lease liability		0.6			0.8
Sublease income		(0.1	)		(0.3	)
Total lease cost	$	16.6		$	31.4

Supplemental cash flow information for the three and six months ended March 31, 2020 is as follows:

	Three Months Ended March 31,			Six Months Ended March 31,
	2020			2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(6.4	)	$	(13.0	)
Operating cash flows from finance leases		—			(0.1	)
Financing cash flows from finance leases		(1.7	)		(3.2	)

Non-cash items:
New finance leases	$	3.2		$	3.2

As of March 31, 2020, the Company does not have material operating or financing leases that have not yet commenced.

Maturities of operating and finance lease liabilities as of March 31, 2020 were as follows:

Fiscal Year	Operating Lease			Finance Lease
2020	$	18.6		$	5.1
2021		20.7			2.6
2022		15.4			0.8
2023		10.3			0.1
2024		7.2			—
Thereafter		16.6			—
Total		88.8			8.6
Less: Executory Costs		—			—
Total net lease payments		88.8			8.6
Less: Amounts representing interest		(16.8	)		(0.9	)
Total lease liabilities		72.0			7.7
Less: Current portion of lease liabilities		(21.4	)		(6.6	)
Non-current lease liabilities	$	50.6		$	1.1

Future minimum lease payments for operating leases accounted for under ASC 840, Leases, with remaining non-cancelable terms in excess of one year at September 30, 2019 were as follows:

Fiscal Year Ended September 30,
2020	$	21.7
2021		17.0
2022		13.2
2023		10.3
2024 and thereafter		22.8
Total	$	85.0

Future minimum lease payments under capital lease obligations as of September 30, 2019 are as follows:

Future minimum lease payments:
Fiscal Year Ended September 30:
2020	$	5.6
2021		3.2
2022		0.7
2023		0.2
2024 and thereafter	—
Total		9.7
Less: Executory costs		(0.1	)
Net minimum lease payments		9.6
Less: Amount representing interest		(1.1	)
Present value of net minimum lease payments		8.5
Less: Current portion		(5.4	)
Long-term portion of finance lease obligations	$	3.1