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Leases (Tables)
3 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Summary of Lease Term and Incremental Borrowing Rates for Leases

The following table presents certain information related to lease term and incremental borrowing rates for leases as of December 31, 2019:

 

 

 

December 31, 2019

 

Weighted-average remaining lease term (in months):

 

 

 

 

Operating leases

 

 

59.7

 

Finance leases

 

 

1.0

 

Weighted-average discount rate:

 

 

 

 

Operating leases

 

 

8.0

%

Finance leases

 

 

10.6

%

Summary of lease-related Assets and Liabilities Reported in the Consolidated Balance Sheet

 

The following table presents the lease-related assets and liabilities reported in the consolidated balance sheet as of December 31, 2019 (in thousands):

 

 

 

Classification

 

December 31, 2019

 

Assets

 

 

 

 

 

 

Operating lease assets

 

Operating lease right of use assets

 

$

19,681

 

Finance lease assets

 

Property and equipment, net

 

 

253

 

Total lease assets

 

 

 

$

19,934

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Current

 

 

 

 

 

 

Operating

 

Short-term operating lease liabilities

 

$

4,986

 

Finance

 

Accrued expenses and other current liabilities

 

 

12

 

Noncurrent

 

 

 

 

 

 

Operating

 

Long-term operating lease liabilities

 

$

17,040

 

Finance

 

Other liabilities

 

 

 

Total lease liability

 

 

 

$

22,038

 

Summary of Lease Expense

The following table presents lease expense for the three months ended December 31, 2019 (in thousands):

 

 

 

Three months ended

December 31, 2019

 

Finance lease costs:

 

 

 

 

Amortization of right-of-use asset

 

$

36

 

Interest on lease liability

 

 

-

 

Operating lease cost

 

 

1,890

 

Short-term lease cost

 

 

-

 

Variable lease cost

 

 

309

 

Sublease income

 

 

(55

)

Total lease cost

 

$

2,180

 

Summary of Undiscounted Future Minimum Lease Payments Under Non-cancelable Leases

The table below reconciles the undiscounted future minimum lease payments under non-cancelable leases with terms of more than one year to the total lease liabilities recognized on the condensed consolidated balance sheets as of December 31, 2019 (in thousands):

 

Year Ending September 30,

 

Operating Leases

 

 

Financing Leases

 

2020 (excluding three months ended December 31, 2019)

 

$

5,003

 

 

$

12

 

2021

 

 

5,862

 

 

 

 

2022

 

 

4,934

 

 

 

 

2023

 

 

3,681

 

 

 

 

2024

 

 

3,380

 

 

 

 

Thereafter

 

 

4,113

 

 

 

 

Total future minimum lease payments

 

$

26,973

 

 

$

12

 

Less effects of discounting

 

 

(4,947

)

 

 

 

Total lease liabilities

 

$

22,026

 

 

$

12

 

Reported as of December 31, 2019

 

 

 

 

 

 

 

 

Short-term lease liabilities

 

$

4,986

 

 

$

12

 

Long-term lease liabilities

 

 

17,040

 

 

 

 

Total lease liabilities

 

$

22,026

 

 

$

12

 

Summary of Future Minimum Lease Commitments Under Non-cancelable Leases

The future minimum lease commitments under non-cancelable leases at September 30, 2019 were as follows (in thousands):

 

Year Ending September 30,

 

 

 

 

2020

 

$

6,323

 

2021

 

 

5,421

 

2022

 

 

4,493

 

2023

 

 

3,237

 

2024

 

 

2,922

 

Thereafter

 

 

4,039

 

Total

 

$

26,435