Commitment and Contingencies (Tables)

9 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Supplemental Balance Sheet Information

The table below presents the Company’s operating lease right-of-use asset and the related lease liability.

(In thousands)	June 30, 2020
Operating lease asset	$	29,132
Operating lease liability	$	30,658

Components of Lease Expense

The following table presents the components of net lease costs, a component of Occupancy expense. The Company elected not to separate lease and non-lease components and instead account for them as a single lease component. Variable lease costs include subsequent increases in index-based rents and variable payments such as common area maintenance.

(In thousands)	Three Months Ended June 30,		Nine Months Ended June 30,
	2020		2020
Operating lease cost	$	1,649	$	4,922
Variable lease cost	413		968
Sublease income	(86)		(265)
Net lease cost	$	1,976	$	5,625

Maturities of Operating Lease Liabilities

The following table shows future minimum payments for operating leases as of June 30, 2020 for the respective periods.

(In thousands)	Year ending September 30,
remainder of 2020	$	1,527
2021	5,865
2022	5,372
2023	4,793
2024	4,016
Thereafter	12,083
Total minimum payments	33,656
Amounts representing interest	(2,998)
Present value of minimum lease payments	$	30,658

Future Minimum Lease Payments Prior to Adoption

Future minimum lease payments for the Company’s operating leases as of September 30, 2019, prior to the adoption of the new lease guidance, were as follows.

(In thousands)	Year ending September 30,
2020	$	5,838
2021	5,246
2022	4,698
2023	4,302
2024	3,596
Thereafter	10,531
Total minimum payments	$	34,211