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Leases (Tables)
12 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Components of Lease Cost

The components of lease cost reflected in the Consolidated Statements of Operations for the years ended September 30, 2023, 2022, and 2021 were as follows:

 

(in thousands)

 

Year ended September 30,

 

 

2023

 

2022

 

2021

 

Operating lease cost

$

32,402

 

$

34,346

 

$

37,295

 

Short-term lease cost

 

5,411

 

 

2,653

 

 

2,452

 

Variable lease cost

 

10,945

 

 

10,095

 

 

9,808

 

Sublease income

 

(4,749

)

 

(4,600

)

 

(4,438

)

Total lease cost

$

44,009

 

$

42,494

 

$

45,117

 

Supplemental cash flow information for the years ended September 30, 2023, 2022, and 2021 was as follows:

 

 

2023

 

2022

 

2021

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 Operating cash flows from operating leases

$

36,038

 

$

38,709

 

$

50,299

 

 Financing cash flows from financing leases

 

$

536

 

 

$

297

 

 

$

354

 

Right-of-use assets obtained in exchange for new lease obligations:

 

 

 

 

 

 

 

 

 

Operating leases(1)

$

28,257

 

$

15,431

 

$

9,576

 

Financing leases(2)

$

40

 

$

 

$

1,146

 

 

(1)
In the year ended September 30, 2023, operating lease additions included $4.0 million related to the ServiceMax acquisition.
(2)
In the year ended September 30, 2023, all financing lease additions related to the ServiceMax acquisition.

Supplemental balance sheet information related to the leases as of September 30, 2023 and 2022 was as follows:

 

 

2023

 

2022

 

Weighted-average remaining lease term - operating leases

10.9 years

 

11.8 years

 

Weighted-average remaining lease term - financing leases

1 year

 

2 years

 

Weighted-average discount rate - operating leases

 

5.2

%

 

5.4

%

Weighted-average discount rate - financing leases

 

3.7

%

 

3.0

%

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities as of September 30, 2023 are as follows:

 

(in thousands)

Operating Leases

 

2024

$

34,247

 

2025

 

28,490

 

2026

 

23,523

 

2027

 

19,738

 

2028

 

 

17,874

 

Thereafter

 

 

134,033

 

Total future lease payments

 

 

257,905

 

Less: imputed interest

 

 

(64,713

)

Total lease liability

 

$

193,192