Leases (Tables)

3 Months Ended

Dec. 31, 2019

Leases [Abstract]

Right of Use Assets and Lease Liabilities

ROU assets and lease liabilities recorded in the Condensed Consolidated Balance Sheet are as follows:

	December 31, 2019		Location on the Balance Sheet
ROU assets:
Operating lease ROU assets	$	429.6	Other assets
Finance lease ROU assets	55.3		Property, plant and equipment
Total ROU assets	$	484.9
Lease liabilities:
Operating lease liabilities - current	$	85.5	Other current liabilities
Operating lease liabilities - noncurrent	344.1		Other noncurrent liabilities
Finance lease liabilities - current	6.4		Current maturities of long-term debt
Finance lease liabilities - noncurrent	42.2		Long-term debt
Total lease liabilities	$	478.2

Components of Lease Expense, Lease Terms and Discount Rate, and Supplemental Cash Flow Information

The components of lease cost are as follows:

	Three Months Ended December 31, 2019
Operating lease cost	$	25.6
Finance lease cost:
Amortization of ROU assets	1.6
Interest on lease liabilities	0.5
Variable lease cost	1.4
Short-term lease cost	1.0
Total lease cost	$	30.1

The following table presents the cash and non-cash activity related to lease liabilities included in the Condensed Consolidated Statement of Cash Flows occurring during the period:

	Three Months Ended December 31, 2019
Cash paid related to lease liabilities:
Operating cash flows from operating leases	$	25.5
Operating cash flows from finance leases	$	0.5
Financing cash flows from finance leases	$	1.0
Non-cash lease liability activities:
ROU assets obtained in exchange for operating lease liabilities	$	451.9
ROU assets obtained in exchange for finance lease liabilities	$	21.5

The following table presents the weighted-average remaining lease term and weighted-average discount rate as of December 31, 2019:

Weighted-average remaining lease term	In years
Operating leases	6.3
Finance leases	2.5
Weighted-average discount rate	%
Operating leases	3.9%
Finance leases	2.0%

Maturities of Lease Liabilities, Operating Leases

Expected annual lease payments based on maturities of operating and finance leases, as well as a reconciliation to the lease liabilities on the Condensed Consolidated Balance Sheet, as of December 31, 2019, were as follows:

	Remainder of Fiscal 2020		Fiscal 2021		Fiscal 2022		Fiscal 2023		Fiscal 2024		After Fiscal 2024		Total Lease Payments		Imputed Interest			Lease Liabilities
Operating leases:	$	75.4	$	89.8	$	74.6	$	66.3	$	56.1	$	126.5	$	488.7	$	(59.1	)	$	429.6
Finance leases:	$	4.6	$	5.1	$	4.1	$	3.4	$	3.1	$	85.9	$	106.2	$	(57.6	)	$	48.6

Maturities of Lease Liabilities, Finance Leases

Expected annual lease payments based on maturities of operating and finance leases, as well as a reconciliation to the lease liabilities on the Condensed Consolidated Balance Sheet, as of December 31, 2019, were as follows:

	Remainder of Fiscal 2020		Fiscal 2021		Fiscal 2022		Fiscal 2023		Fiscal 2024		After Fiscal 2024		Total Lease Payments		Imputed Interest			Lease Liabilities
Operating leases:	$	75.4	$	89.8	$	74.6	$	66.3	$	56.1	$	126.5	$	488.7	$	(59.1	)	$	429.6
Finance leases:	$	4.6	$	5.1	$	4.1	$	3.4	$	3.1	$	85.9	$	106.2	$	(57.6	)	$	48.6

Schedule of Non-Cancelable Operating Leases

The Company’s future minimum payments under non-cancelable operating leases at September 30, 2019, which were accounted for under ASC 840, were as follows:

	Fiscal 2020		Fiscal 2021		Fiscal 2022		Fiscal 2023		Fiscal 2024		After Fiscal 2024
Total	$	100.4	$	85.9	$	71.0	$	61.7	$	53.6	$	139.2