XML 20 R35.htm IDEA: XBRL DOCUMENT v3.20.1
Leases (Tables)
 6 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Right of Use Assets and Lease Liabilities
ROU assets and lease liabilities recorded in the Condensed Consolidated Balance Sheet are as follows:
 
March 31, 2020
 
Location on the Balance Sheet
ROU assets:
 
 
 
Operating lease ROU assets
$
431.8

 
Other assets
Finance lease ROU assets
54.0

 
Property, plant and equipment
Total ROU assets
$
485.8

 
 
 
 
 
 
Lease liabilities:
 
 
 
Operating lease liabilities - current
$
86.5

 
Other current liabilities
Operating lease liabilities - noncurrent
351.8

 
Other noncurrent liabilities
Finance lease liabilities - current
6.2

 
Current maturities of long-term debt
Finance lease liabilities - noncurrent
41.4

 
Long-term debt
Total lease liabilities
$
485.9

 
 
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 March 31, 2020
 
Six Months Ended March 31, 2020
Operating lease cost
$
28.1

 
$
53.7

Finance lease cost:
 
 


Amortization of ROU assets
1.6

 
3.2

Interest on lease liabilities
0.7

 
1.2

Variable lease cost
1.4

 
2.8

Short-term lease cost
0.6

 
1.6

Total lease cost
$
32.4

 
$
62.5


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:
 
Six Months Ended March 31, 2020
Cash paid related to lease liabilities:
 
Operating cash flows from operating leases
$
53.3

Operating cash flows from finance leases
$
1.2

Financing cash flows from finance leases
$
1.9

 
 
Non-cash lease liability activities:
 
ROU assets obtained in exchange for operating lease liabilities (including the impact upon adoption)
$
475.6

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 March 31, 2020:
Weighted-average remaining lease term
 
In years
Operating leases
 
6.3
Finance leases
 
2.4
 
 
 
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 March 31, 2020, 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:
$
50.8

 
$
93.3

 
$
77.8

 
$
68.6

 
$
59.1

 
$
146.8

 
$
496.4

 
$
(58.1
)
 
$
438.3

Finance leases:
$
3.1

 
$
5.1

 
$
4.0

 
$
3.4

 
$
3.1

 
$
85.9

 
$
104.6

 
$
(57.0
)
 
$
47.6
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 March 31, 2020, 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:
$
50.8

 
$
93.3

 
$
77.8

 
$
68.6

 
$
59.1

 
$
146.8

 
$
496.4

 
$
(58.1
)
 
$
438.3

Finance leases:
$
3.1

 
$
5.1

 
$
4.0

 
$
3.4

 
$
3.1

 
$
85.9

 
$
104.6

 
$
(57.0
)
 
$
47.6
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