The Partnership leases certain property, plant and equipment, including portions of its vehicle fleet, for various periods under noncancelable leases all of which were determined to be operating leases. The Partnership determines if an agreement contains a lease at inception based on the Partnership’s right to the economic benefits of the leased assets and its right to direct the use of the leased asset. Right-of-use assets represent the Partnership’s right to use an underlying asset, and right-of-use liabilities represent the Partnership’s obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. As most of the Partnership’s leases do not provide an implicit rate, the Partnership uses its estimated incremental borrowing rate based on the information available at the commencement date, adjusted for the lease term, to determine the present value of the lease payments. This rate is calculated based on a collateralized rate for the specific leasing activities of the Partnership.

Some leases include one or more options to renew at the Partnership’s discretion, with renewal terms that can extend the lease from one to fifteen additional years. The renewal options are included in the measurement of the right-of-use assets and lease liabilities if the Partnership is reasonably certain to exercise the renewal options. Short-term leases are leases having an initial term of twelve months

or less. The Partnership recognizes expenses for short-term leases on a straight-line basis and does not record a lease asset or lease liability for such leases.

The Partnership has residual value guarantees associated with certain of its operating leases, related primarily to transportation equipment. See Note 15, “Guarantees” for more information.

The Partnership does not have any material lease obligations that were signed, but not yet commenced as of September 30, 2023.

Quantitative information on the Partnership’s lease population for fiscal 2023 is as follows:


	Year Ended
	September 30, 2023			September 24, 2022
Lease expense	$	41,733		$	41,042

Other information:
Cash payments for operating leases		42,062			41,320
Right-of-use assets obtained in exchange for new operating lease liabilities		41,742			38,745
Weighted-average remaining lease term	5.6 years			6.1 years
Weighted-average discount rate		5.9	%		5.0	%

The following table summarizes future minimum lease payments under non-cancelable operating leases as of September 30, 2023:


Fiscal Year	Operating Leases
2024	$	40,660
2025		36,598
2026		30,991
2027		20,818
2028		15,701
2029 and thereafter		24,501
Total future minimum lease payments	$	169,269
Less: interest		(27,212	)
Total lease obligations	$	142,057