Note 5 Leases

3 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lessee, Operating Leases

Leases

The Company’s leases consist primarily of operating leases for buildings and land and have initial lease terms of up to 44 years. Certain of these leases contain an option to extend the lease term for additional periods or to terminate the lease after an initial non-cancelable term. Renewal options are considered in the measurement of the Company’s initial lease liability and corresponding right-of-use (“ROU”) assets only if it is reasonably certain that the Company will exercise such options. Leases with lease terms of twelve months or less are not recorded on the Company’s balance sheet.

ROU assets and lease liabilities recorded in the unaudited condensed consolidated balance sheet are as follows:

	As of
	December 31, 2022			October 1, 2022
	(In thousands)
Other assets	$	88,924		$	79,495
Accrued liabilities	$	19,112		$	16,695
Other long-term liabilities	57,307			48,566
Total lease liabilities	$	76,419		$	65,261
Weighted average remaining lease term (in years)	11.86			15.74
Weighted average discount rate	3.02		%	2.40		%

Lease expense and supplemental cash flow information related to operating leases are as follows:

	Three Months Ended
	December 31, 2022		January 1, 2022
	(In thousands)
Operating lease expense (1)	$	9,367	$	5,910
	Three Months Ended
	December 31, 2022		January 1, 2022
	(In thousands)
Cash paid for operating lease liabilities	$	5,549	$	4,809

(1)    Includes immaterial amounts of short term leases, variable lease costs and sublease income.

Future lease payments under non-cancelable operating leases as of December 31, 2022, by fiscal year, are as follows:

	Operating Leases
	(In thousands)
Remainder of 2023	$	16,307
2024	19,081
2025	16,160
2026	12,103
2027	8,864
2028	2,355
Thereafter	8,930
Total lease payments	83,800
Less: imputed interest	7,381
Total	$	76,419