Leases (Tables)

9 Months Ended

Jun. 30, 2024

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	June 30, 2024		June 30, 2023		September 30, 2023
Lease assets:
Operating lease right-of-use assets	Right-of-use assets, net	$	235,030	$	243,100	$	234,388
Financing lease assets	Other assets	1,832		2,076		2,178
Total lease assets		$	236,862	$	245,176	$	236,566




Lease liabilities:
Current:
Operating lease liabilities	Operating lease liabilities, current	$	58,905	$	56,919	$	57,182
Financing lease liabilities	Accounts payable, accrued expenses and other current liabilities	596		472		530
Total current lease liabilities		$	59,501	$	57,391	$	57,712

Non-current:
Operating lease liabilities	Operating lease liabilities	$	188,996	$	197,499	$	193,187
Financing lease liabilities	Other long-term liabilities	1,352		1,645		1,715
Total non-current lease liabilities		$	190,348	$	199,144	$	194,902
Total lease liabilities		$	249,849	$	256,535	$	252,614

Schedule of Lease Cost

The table below provides major components of our lease costs:


	Three Months Ended June 30,				Nine Months Ended June 30,
(in thousands)	2024		2023		2024		2023

Operating lease cost:
Operating lease cost *	$	20,406	$	18,701	$	59,312	$	54,219
Variable lease cost	4,318		4,188		13,176		12,068
Total operating lease cost	$	24,724	$	22,889	$	72,488	$	66,287

Financing lease cost:
Amortization of financing lease assets	$	140	$	106	$	455	$	180
Interest on financing lease liabilities	49		47		177		82
Total financing lease cost	$	189	$	153	$	632	$	262
Total lease cost	$	24,913	$	23,042	$	73,120	$	66,549

* Includes a reduction for sublease rental income of $0.7 million and $1.0 million for the three months ended June 30, 2024 and 2023, respectively, and $2.4 million and $2.8 million for the nine months ended June 30, 2024 and 2023, respectively.

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


	Nine Months Ended June 30,
	2024		2023

Weighted-average remaining lease term (years):
Operating leases	4.88		5.11
Financing leases	3.01		3.88

Weighted-average discount rate:
Operating leases	8.33	%	8.52	%
Financing leases	11.14	%	11.14	%

Schedule of Operating Lease Maturity

As of June 30, 2024, maturities of lease liabilities under ASC 842 by fiscal year were as follows:


(in thousands)	Operating Leases		Financing Leases
Remaining 2024	$	19,113	$	196
Fiscal 2025	75,596		783
Fiscal 2026	64,879		783
Fiscal 2027	50,391		500
Fiscal 2028	35,301		36
Thereafter	56,958		—
Total lease liabilities	$	302,238	$	2,298
Less: portion representing imputed interest	54,337		350
Total net lease liabilities	$	247,901	$	1,948
Less: current portion	58,905		596
Total long term net lease liabilities	$	188,996	$	1,352