Leases

12 Months Ended

Sep. 30, 2023

Lessee Arrangements

The Company’s leases generally include one or more options to renew. Lease expense was as follows:


(in millions)
for the fiscal years ended September 30,	2023		2022		2021
Operating lease cost	$	124.1	$	127.9	$	141.4
Variable lease cost	5.8		8.3		21.2
Finance lease cost	0.6		0.2		0.4
Less: sublease income	(25.0)		(26.7)		(24.6)
Total lease expense	$	105.5	$	109.7	$	138.4

Supplemental cash flow information related to leases was as follows:


(in millions)
for the fiscal years ended September 30,	2023		2022		2021
Operating cash flows from operating leases included in the measurement of operating lease liabilities	$	125.6	$	130.5	$	133.7
ROU assets obtained in exchange for new/modified operating lease liabilities	45.4		53.4		18.7

The weighted-average remaining lease term and weighted-average discount rate for operating lease liabilities were as follows:


(in millions)
as of September 30,	2023		2022
Weighted-average remaining lease term	8.0 years		7.3 years
Weighted-average discount rate	3.2	%	2.5	%

The maturities of the liabilities were as follows:


(in millions)	Amount
for the fiscal years ending September 30,
2024	$	95.2
2025	72.4
2026	57.3
2027	53.5
2028	48.4
Thereafter	216.0
Total lease payments	542.8
Less: interest	(75.0)
Operating lease liabilities	$	467.8

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 as of September 30, 2023 were as follows:


(in millions)	Subleases		Leases
for the fiscal years ending September 30,
2024	$	7.8	$	46.8
2025	1.0		47.3
2026	0.5		46.2
2027	0.3		38.9
2028	—		25.9
Thereafter	—		76.9
Total	$	9.6	$	282.0