Leases

12 Months Ended

Sep. 30, 2020

Lessee Arrangements

The leases had a weighted-average remaining lease term of 6.5 years as of September 30, 2020, and generally include one or more options to renew.

Lease expense was as follows:



(in millions)
for the fiscal year ended September 30, 2020	Amount
Operating lease cost¹	$	72.5
Finance lease cost	0.5
Variable lease cost	6.0
Less: sublease income	(4.2		)
Total lease expense	$	74.8

^{__________________}


¹	Substantially all is included in occupancy expense.

Supplemental cash flow information related to leases was as follows:



(in millions)	Amount
for the fiscal year ended September 30, 2020	Amount
Operating cash flows from operating leases included in the measurement of operating lease liabilities	$	65.1
ROU assets obtained in exchange for new/modified operating lease liabilities	13.7

The weighted-average discount rate for the operating lease liabilities as of September 30, 2020 was 3.5%. The maturities of the liabilities were as follows:



(in millions)	Amount
for the fiscal years ending September 30,	Amount
2021	$	134.8
2022	131.5
2023	125.4
2024	89.0
2025	50.2
Thereafter	153.5
Total lease payments	684.4
Less: interest	(63.4		)
Operating lease liabilities	$	621.0

As of September 30, 2019, future minimum lease payments under long-term non-cancelable operating leases were as follows:



(in millions)
for the fiscal years ending September 30,	Amount
2020	$	49.5
2021	45.3
2022	40.9
2023	39.1
2024	36.7
Thereafter	149.1
Total Minimum Lease Payments	$	360.6

Lessor Arrangements

The Company leases excess owned space in its San Mateo, California corporate headquarters and other office buildings, primarily in the U.S., to third parties, and generally include one or more options to renew. The Company subleases excess leased office spaces to various firms, primarily in the U.S., and generally include options to renew or terminate within a specified period.

The maturities of lease payments due to the Company and weighted-average remaining lease term as of September 30, 2020 were as follows:



(in millions)	Subleases		Leases
for the fiscal years ending September 30,	Subleases		Leases
2021	$	19.0	$	31.2
2022	19.2		28.0
2023	18.7		28.8
2024	8.5		29.8
2025	0.2		29.9
Thereafter	0.1		70.7
Total	$	65.7	$	218.4
Weighted-average remaining lease term	3.4 years		7.2 years