Leases

12 Months Ended

Sep. 30, 2021

Leases [Abstract]

Leases

Leases

Lessee Arrangements

The Company’s leases generally include one or more options to renew. Lease expense was as follows:

(in millions)
for the fiscal years ended September 30,	2021		2020
Operating lease cost1	$	141.4	$	72.5
Variable lease cost	21.2		6.0
Finance lease cost	0.4		0.5
Less: sublease income	(24.6)		(4.2)
Total lease expense	$	138.4	$	74.8

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1Substantially all operating lease cost is included in occupancy expense.

Supplemental cash flow information related to leases was as follows:

(in millions)
for the fiscal years ended September 30,	2021		2020
Operating cash flows from operating leases included in the measurement of operating lease liabilities	$	133.7	$	65.1
ROU assets obtained in exchange for new/modified operating lease liabilities	18.7		13.7

The weighted-average remaining lease term and weighted-average discount rate for operating lease liabilities were as follows:

(in millions)
as of September 30,	2021		2020
Weighted-average remaining lease term	6.1 years		6.5 years
Weighted-average discount rate	2.1	%	3.5	%

The maturities of the liabilities were as follows:

(in millions)	Amount
for the fiscal years ending September 30,
2022	$	129.3
2023	122.9
2024	88.3
2025	52.9
2026	38.1
Thereafter	121.9
Total lease payments	553.4
Less: interest	(35.0)
Operating lease liabilities	$	518.4

Lessor Arrangements

The Company leases excess owned space in its San Mateo, California corporate headquarters and other office buildings, primarily in the U.S., to third parties, and generally include one or more options to renew. The Company subleases excess leased office spaces to various firms, primarily in the U.S., and generally include options to renew or terminate within a specified period.

The maturities of lease payments due to the Company as of September 30, 2021 were as follows:

(in millions)	Subleases		Leases
for the fiscal years ending September 30,
2022	$	23.2	$	31.0
2023	21.5		32.4
2024	9.2		32.9
2025	0.3		32.5
2026	0.1		32.1
Thereafter	0.1		41.9
Total	$	54.4	$	202.8