Leases

3 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

13. LEASES

We enter into various contractual arrangements for the right to use facilities, vehicles and equipment. The lease terms generally range from two to ten years for facilities and three to five years for vehicles and equipment. Our lease terms may include the exercise of renewal or termination options when it is reasonably certain these options will be exercised. Our lease agreements do not contain any material residual value guarantees or restrictive covenants.

Current operating and finance liabilities of $14,508 and $1,260, respectively, as of December 31, 2021, and $13,973 and $1,033, respectively, as of September 30, 2021, were included in “Accounts payable and accrued expenses” in the Condensed Consolidated Balance Sheets. Non-current finance lease liabilities and finance lease right-of-use assets were included in the “Other non-current liabilities” and “Other non-current assets”, respectively, in the Condensed Consolidated Balance Sheets.

The maturities of our lease liabilities as of December 31, 2021 are as follows:

	Operating Leases		Finance Leases		Total
Remainder of 2022	$	11,351	$	967	$	12,318
2023	11,795		1,286		13,081
2024	8,136		1,262		9,398
2025	5,709		1,059		6,768
2026	3,766		536		4,302
Thereafter	4,759		6		4,765
Total undiscounted lease payments	$	45,516	$	5,116	$	50,632
Less: imputed interest	3,489		413		3,902
Present value of lease liabilities	$	42,027	$	4,703	$	46,730

The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of December 31, 2021 is $1,819.

Lease cost recognized in our Condensed Consolidated Statements of Comprehensive Income is summarized as follows:

	Three Months Ended
	December 31, 2021		December 31, 2020
Operating lease cost	$	3,287	$	3,246	$	0
Finance lease cost
Amortization of lease assets	176		109
Interest on lease liabilities	33		23
Finance lease cost	209		132
Short-term lease cost	330		313
Variable lease cost	321		289
Total lease cost	$	4,147	$	3,980

Other information about lease amounts recognized in our Condensed Consolidated Financial Statements is summarized as follows:

	Three Months Ended
	December 31, 2021		December 31, 2020
Operating cash flows used for operating leases	$	4,240	$	3,651
Operating cash flows used for finance leases	47		23
Right-of-use assets obtained in exchange for new operating lease liabilities	6,982		7,760
Right-of-use assets obtained in exchange for new finance lease liabilities	1,092		564

	December 31, 2021		September 30, 2021
Weighted-average remaining lease term - operating leases	4.3 years		5.0 years
Weighted-average remaining lease term - finance leases	4.2 years		4.2 years
Weighted-average discount rate - operating leases	3.4	%	3.7	%
Weighted-average discount rate - finance leases	4.2	%	4.3	%

Leases

13. LEASES

We enter into various contractual arrangements for the right to use facilities, vehicles and equipment. The lease terms generally range from two to ten years for facilities and three to five years for vehicles and equipment. Our lease terms may include the exercise of renewal or termination options when it is reasonably certain these options will be exercised. Our lease agreements do not contain any material residual value guarantees or restrictive covenants.

Current operating and finance liabilities of $14,508 and $1,260, respectively, as of December 31, 2021, and $13,973 and $1,033, respectively, as of September 30, 2021, were included in “Accounts payable and accrued expenses” in the Condensed Consolidated Balance Sheets. Non-current finance lease liabilities and finance lease right-of-use assets were included in the “Other non-current liabilities” and “Other non-current assets”, respectively, in the Condensed Consolidated Balance Sheets.

The maturities of our lease liabilities as of December 31, 2021 are as follows:

	Operating Leases		Finance Leases		Total
Remainder of 2022	$	11,351	$	967	$	12,318
2023	11,795		1,286		13,081
2024	8,136		1,262		9,398
2025	5,709		1,059		6,768
2026	3,766		536		4,302
Thereafter	4,759		6		4,765
Total undiscounted lease payments	$	45,516	$	5,116	$	50,632
Less: imputed interest	3,489		413		3,902
Present value of lease liabilities	$	42,027	$	4,703	$	46,730

The total future undiscounted cash flows related to lease agreements committed to but not yet commenced as of December 31, 2021 is $1,819.

Lease cost recognized in our Condensed Consolidated Statements of Comprehensive Income is summarized as follows:

	Three Months Ended
	December 31, 2021		December 31, 2020
Operating lease cost	$	3,287	$	3,246	$	0
Finance lease cost
Amortization of lease assets	176		109
Interest on lease liabilities	33		23
Finance lease cost	209		132
Short-term lease cost	330		313
Variable lease cost	321		289
Total lease cost	$	4,147	$	3,980

Other information about lease amounts recognized in our Condensed Consolidated Financial Statements is summarized as follows:

	Three Months Ended
	December 31, 2021		December 31, 2020
Operating cash flows used for operating leases	$	4,240	$	3,651
Operating cash flows used for finance leases	47		23
Right-of-use assets obtained in exchange for new operating lease liabilities	6,982		7,760
Right-of-use assets obtained in exchange for new finance lease liabilities	1,092		564

	December 31, 2021		September 30, 2021
Weighted-average remaining lease term - operating leases	4.3 years		5.0 years
Weighted-average remaining lease term - finance leases	4.2 years		4.2 years
Weighted-average discount rate - operating leases	3.4	%	3.7	%
Weighted-average discount rate - finance leases	4.2	%	4.3	%