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Leases (Tables)

3 Months Ended

Dec. 31, 2019

Other pertinent information related to leases was as follows. During the three months ended December 31, 2019, amounts paid in cash for our finance lease were not material, nor did we enter into any new finance leases.



	Three Months Ended December 31, 2019
	(In thousands)
Cash paid amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$	8,840
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	6,812

The following table presents our weighted average remaining lease term for our leases.



	December 31, 2019
Weighted average remaining lease term (years)
Finance lease	19.00
Operating leases	10.78

The following table represents our weighted average discount rate at December 31, 2019:



	December 31, 2019
Weighted average discount rate
Finance lease	9.57	%
Operating leases	2.91	%

For the three months ended December 31, 2019, we did not have material short-term lease costs or variable lease costs.



	Three Months Ended December 31, 2019
	(In thousands)
Finance lease cost	$	73
Operating lease cost	9,925
Total lease cost	$	9,998

Our ROU assets and lease liabilities are presented as follows on the condensed consolidated balance sheets (unaudited):



	Balance Sheet Classification	December 31, 2019
		(In thousands)
Assets
Finance lease	Net Property, Plant and Equipment	$	2,522
Operating leases	Deferred charges and other assets	223,486
Total right-of-use assets		$	226,008
Liabilities
Current
Finance lease	Current maturities of long-term debt	$	50
Operating leases	Other current liabilities	30,099
Noncurrent
Finance lease	Long-term debt	2,484
Operating leases	Deferred credits and other liabilities	200,997
Total lease liabilities		$	233,630

Schedule of Finance Lease Liability Maturities

Maturities of our lease liabilities as of December 31, 2019, presented on a rolling 12-month basis, were as follows:



	Total		Finance Lease		Operating Leases
	(In thousands)
Year 1	$	35,719	$	244	$	35,475
Year 2	35,954		249		35,705
Year 3	32,230		254		31,976
Year 4	27,421		259		27,162
Year 5	18,981		264		18,717
Thereafter	127,745		4,222		123,523
Total lease payments	278,050		5,492		272,558
Less: Imputed interest	44,420		2,958		41,462
Total	$	233,630	$	2,534	$	231,096
Reported as of December 31, 2019
Short-term lease liabilities	$	30,149	$	50	$	30,099
Long-term lease liabilities	203,481		2,484		200,997
Total lease liabilities	$	233,630	$	2,534	$	231,096

Schedule of Operating Lease Liability Maturities

Maturities of our lease liabilities as of December 31, 2019, presented on a rolling 12-month basis, were as follows:



	Total		Finance Lease		Operating Leases
	(In thousands)
Year 1	$	35,719	$	244	$	35,475
Year 2	35,954		249		35,705
Year 3	32,230		254		31,976
Year 4	27,421		259		27,162
Year 5	18,981		264		18,717
Thereafter	127,745		4,222		123,523
Total lease payments	278,050		5,492		272,558
Less: Imputed interest	44,420		2,958		41,462
Total	$	233,630	$	2,534	$	231,096
Reported as of December 31, 2019
Short-term lease liabilities	$	30,149	$	50	$	30,099
Long-term lease liabilities	203,481		2,484		200,997
Total lease liabilities	$	233,630	$	2,534	$	231,096

Schedule of Future Minimum Lease Payments for Capital Leases

The future minimum lease payments as September 30, 2019 were as follows:



	Operating Leases⁽¹⁾		Capital Lease
	(In thousands)
2020	$	21,017	$	243
2021	20,416		248
2022	19,370		253
2023	18,071		258
2024	15,718		263
Thereafter	105,544		4,343
Total minimum lease payments	$	200,136	5,608
Less amount representing interest			3,018
Present value of net minimum lease payments			$	2,590

(1)

Future minimum lease payments do not include amounts for fleet leases and other de minimis items that can be renewed beyond the initial lease term. The Company anticipates renewing the leases beyond the initial term, but the anticipated payments associated with the renewals do not meet the definition of expected minimum lease payments and therefore are not included above. Expected payments are $17.6 million in 2020, $18.0 million in 2021, $11.8 million in 2022, $8.5 million in 2023, $5.4 million 2024 and $2.7 million thereafter.

Schedule of Future Minimum Rental Payments for Operating Leases

The future minimum lease payments as September 30, 2019 were as follows:



	Operating Leases⁽¹⁾		Capital Lease
	(In thousands)
2020	$	21,017	$	243
2021	20,416		248
2022	19,370		253
2023	18,071		258
2024	15,718		263
Thereafter	105,544		4,343
Total minimum lease payments	$	200,136	5,608
Less amount representing interest			3,018
Present value of net minimum lease payments			$	2,590

(1)