Leases

12 Months Ended

Sep. 30, 2023

Leases [Abstract]

Leases

Leases

Our leases consist primarily of office space and construction equipment. All of our future lease obligations are related to non-cancelable operating leases. The decrease of our lease portfolio relates to the wind down of our Canadian facility leases. The following table provides a summary of lease cost components for the years ended September 30, 2023, 2022 and 2021 respectively (in thousands):

Lease Cost	2023		2022		2021
Operating lease cost	$	1,457	$	2,146	$	2,435
Less: sublease income	(515)		(685)		(706)
Variable lease cost(1)	369		457		443
Short-term lease cost(2)	1,864		1,643		1,281
Total lease cost	$	3,175	$	3,561	$	3,453
(1) Variable lease cost represents common area maintenance charges related to our Canadian office space lease.
(2) Short-term lease cost includes leases and rentals with initial terms of one year or less.

We recognize operating lease assets and operating lease liabilities representing the present value of the remaining lease payments for leases with initial terms greater than twelve months. Leases with initial terms of twelve months or less are not recorded in our Consolidated Balance Sheets. The following table provides a summary of the operating lease assets and operating lease liabilities included in our Consolidated Balance Sheets as of September 30, 2023 and 2022, respectively (in thousands):

	September 30,
Operating Leases	2023		2022
Assets:
Operating lease assets, net	$	1,436	$	2,179
Liabilities:
Current operating lease liabilities	773		1,777
Long-term operating lease liabilities	663		545
Total lease liabilities	$	1,436	$	2,322

The following table provides the maturities of our operating lease liabilities as of September 30, 2023 (in thousands):

	Operating Leases
2024	$	802
2025	359
2026	169
2027	142
2028	18
Thereafter	—
Total future minimum lease payments	$	1,490
Less: present value discount (imputed interest)	(54)
Present value of lease liabilities	$	1,436

The weighted average discount rate as of September 30, 2023 and 2022 was 3.32% and 3.73%, respectively. The weighted average remaining lease term was 2.67 years and 1.51 years, respectively, at September 30, 2023 and 2022.