Leases (Tables)

3 Months Ended

Dec. 31, 2023

Schedule of Lessee Assets and Liabilities

The table below presents balances of our lease assets and liabilities and their balance sheet locations for both operating and financing leases:


(in thousands)	Balance Sheet Location	December 31, 2023		December 31, 2022		September 30, 2023
Lease assets:
Operating lease right-of-use assets	Right-of-use assets, net	$	231,103	$	229,991	$	234,388
Financing lease assets	Other assets	2,124		563		2,178
Total lease assets		$	233,227	$	230,554	$	236,566




Lease liabilities:
Current:
Operating lease liabilities	Operating lease liabilities, current	$	57,980	$	52,799	$	57,182
Financing lease liabilities	Accounts payable, accrued expenses and other current liabilities	572		121		530
Total current lease liabilities		$	58,552	$	52,920	$	57,712

Non-current:
Operating lease liabilities	Operating lease liabilities	$	188,475	$	188,730	$	193,187
Financing lease liabilities	Other long-term liabilities	1,644		447		1,715
Total non-current lease liabilities		$	190,119	$	189,177	$	194,902
Total lease liabilities		$	248,671	$	242,097	$	252,614

Schedule of Lease Cost

The table below provides major components of our lease costs:


	Three Months Ended December 31,
(in thousands)	2023		2022

Operating lease cost:
Operating lease cost *	$	19,066	$	17,495
Variable lease cost	4,215		3,852
Total operating lease cost	$	23,281	$	21,347

Financing lease cost:
Amortization of financing lease assets	$	151	$	19
Interest on financing lease liabilities	65		11
Total financing lease cost	$	216	$	30
Total lease cost	$	23,497	$	21,377

* Includes a reduction for sublease rental income of $1.1 million and $0.8 million for the three months ended December 31, 2023 and 2022, respectively.

The weighted-average term and discount rates for leases are as follows:


	Three Months Ended December 31,
	2023		2022

Weighted-average remaining lease term (years):
Operating leases	4.86		5.21
Financing leases	3.42		4.03

Weighted-average discount rate:
Operating leases	8.53	%	8.36	%
Financing leases	11.14	%	11.14	%

Schedule of Operating Lease Maturity

As of December 31, 2023, maturities of lease liabilities under ASC 842 by fiscal year were as follows:


(in thousands)	Operating Leases		Financing Leases
Remaining 2024	$	57,570	$	597
Fiscal 2025	69,671		790
Fiscal 2026	58,523		790
Fiscal 2027	44,089		486
Fiscal 2028	28,904		8
Thereafter	42,810		—
Total lease liabilities	$	301,567	$	2,671
Less: portion representing imputed interest	55,112		455
Total net lease liabilities	$	246,455	$	2,216
Less: current portion	57,980		572
Total long term net lease liabilities	$	188,475	$	1,644