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LEASES (Tables)
6 Months Ended
Mar. 31, 2020
Leases  
Schedule of leases

 

 

 

 

 

 

Assets

    

Classification

    

March 2020

Operating

 

Operating lease right-of-use assets

 

$

19,689,507

 

 

 

 

 

 

Liabilities

 

 

 

 

 

Current:

 

 

 

 

 

Operating

 

Operating lease liabilities

 

$

5,433,800

Non-current:

 

 

 

 

 

Operating

 

Long-term operating lease liabilities

 

 

14,597,065

Total lease liabilities

 

 

 

$

20,030,865

 

Schedule of components of lease costs

 

 

 

 

 

 

    

 

 

 

 

Total

THREE MONTHS ENDED MARCH 2020

 

 

 

Operating lease cost

 

$

1,660,850

Short-term lease cost

 

 

83,936

Variable lease cost

 

 

79,954

Net lease cost

 

$

1,824,740

 

 

 

 

 

 

 

 

 

 

 

Total

SIX MONTHS ENDED MARCH 2020

 

 

 

Operating lease cost

 

$

3,331,624

Short-term lease cost

 

 

167,441

Variable lease cost

 

 

169,227

Net lease cost

 

$

3,668,292

 

Schedule of maturities of lease liabilities

 

 

 

 

 

    

Operating Leases

2020

 

$

6,124,577

2021

 

 

5,236,472

2022

 

 

3,882,209

2023

 

 

3,222,946

2024

 

 

1,873,836

2025 and thereafter

 

 

1,505,992

Total lease payments

 

 

21,846,032

Less: interest

 

 

(1,815,167)

Present value of lease liabilities

 

$

20,030,865

 

Schedule of weighted-average remaining lease term and weighted-average discount rate

 

 

 

 

 

 

Lease Term

    

March 2020

 

Weighted-average remaining lease term (years):

 

 

 

Operating

 

4.4

 

Discount Rate

 

 

 

Weighted-average discount rate:

 

 

 

Operating

 

4.04

%  

 

Schedule of other information regarding the Company’s leases

 

 

 

 

 

    

For the six months ended March 2020

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

Operating cash flows used by operating leases

 

$

3,304,184

Lease liabilities arising from obtaining new ROU assets:

 

 

 

Operating leases

 

$

732,287

 

Schedule of future minimum operating lease payments

 

 

 

 

 

    

Operating

Fiscal Year Ending

 

Leases

2020

 

$

6,468,837

2021

 

 

5,418,617

2022

 

 

4,299,261

2023

 

 

3,216,671

2024

 

 

2,456,810

Thereafter

 

 

2,387,618

Total minimum lease payments

 

$

24,247,814