Leases (Tables)

6 Months Ended

Mar. 31, 2025

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	March 31, 2025		March 31, 2024		September 30, 2024
Lease assets:
Operating lease right-of-use assets	Right-of-use assets, net	$	229,878	$	243,752	$	226,602
Financing lease assets	Other assets, net	1,256		2,094		1,559
Total lease assets		$	231,134	$	245,846	$	228,161




Lease liabilities:
Current:
Operating lease liabilities	Operating lease liabilities, current	$	58,855	$	55,658	$	58,998
Financing lease liabilities	Accounts payable, accrued expenses and other current liabilities	589		583		570
Total current lease liabilities		$	59,444	$	56,241	$	59,568

Non-current:
Operating lease liabilities	Operating lease liabilities	$	182,873	$	197,285	$	180,616
Financing lease liabilities	Other long-term liabilities	798		1,626		1,110
Total non-current lease liabilities		$	183,671	$	198,911	$	181,726
Total lease liabilities		$	243,115	$	255,152	$	241,294

Schedule of Lease Cost

The table below provides major components of our lease costs:


	Three Months Ended March 31,			Six Months Ended March 31,
(in thousands)		2025		2024		2025		2024

Operating lease cost:
Operating lease cost*		$	18,244	$	19,840	$	38,213	$	38,906
Variable lease cost		5,759		4,643		9,052		8,858
Total operating lease cost		$	24,003	$	24,483	$	47,265	$	47,764

Financing lease cost:
Amortization of financing lease assets		$	143	$	164	$	282	$	315
Interest on financing lease liabilities		41		63		85		128
Total financing lease cost		$	184	$	227	$	367	$	443
Total lease cost		$	24,187	$	24,710	$	47,632	$	48,207

*Includes a reduction for sublease rental income of $0.6 million for both the three months ended March 31, 2025 and 2024, respectively, and $1.3 million and $1.7 million for the six months ended March 31, 2025 and 2024 respectively.

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


	Six Months Ended March 31,
	2025		2024

Weighted-average remaining lease term (years):
Operating leases	5.01		4.88
Financing leases	2.31		3.17

Weighted-average discount rate:
Operating leases	8.56	%	8.41	%
Financing leases	11.14	%	11.14	%

Schedule of Operating Lease Maturity

As of March 31, 2025, maturities of lease liabilities under ASC 842 by fiscal year were as follows:


(in thousands)	Operating Leases		Financing Leases
Remaining 2025	$	38,713	$	357
Fiscal 2026	72,795		714
Fiscal 2027	58,696		460
Fiscal 2028	43,227		44
Fiscal 2029	29,498		2
Thereafter	56,740		—
Total lease liabilities	$	299,669	$	1,577
Less: portion representing imputed interest	57,941		190
Total net lease liabilities	$	241,728	$	1,387
Less: current portion	58,855		589
Total long-term net lease liabilities	$	182,873	$	798