Leases (Tables)
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6 Months Ended |
Mar. 31, 2020 |
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| Leases [Abstract] |
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| Summary of Assets and Liabilities, Lessee |
The following table presents the balance sheet and lease classification for the Company's lease portfolio:
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| Balance Sheet Classification |
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Lease Classification |
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March 31, 2020 |
| Non-current assets: |
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| Property, plant and equipment, net |
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Finance |
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$ |
3,194 |
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| Other assets |
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Operating |
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79,563 |
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| Total lease assets |
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$ |
82,757 |
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| Current liabilities: |
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| Long-term debt, current maturities |
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Finance |
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$ |
1,077 |
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| Other current liabilities |
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Operating |
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26,098 |
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| Non-current liabilities: |
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| Long-term debt |
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Finance |
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4,171 |
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| Other liabilities |
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Operating |
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54,295 |
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| Total lease liabilities |
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$ |
85,641 |
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| Summary of Components of Lease Cost |
The following table presents the components of lease cost:
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Three months ended March 31, 2020 |
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Six months ended March 31, 2020 |
| Finance lease cost: |
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Amortization of ROU assets |
$ |
222 |
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$ |
351 |
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Interest on lease liabilities |
43 |
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77 |
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| Operating lease cost |
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6,835 |
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13,098 |
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| Variable lease cost |
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1,457 |
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2,882 |
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| Sublease income |
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(212) |
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(399) |
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| Total lease cost |
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$ |
8,345 |
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$ |
16,009 |
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Note 8. Leases (continued)
Supplemental information regarding the Company's leases follows:
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Six months ended March 31, 2020 |
| Cash paid for finance and operating lease liabilities: |
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Operating cash flows from finance leases |
$ |
77 |
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Operating cash flows from operating leases |
$ |
15,589 |
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Financing cash flows from finance leases |
$ |
331 |
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| ROU assets obtained in exchange for new finance lease liabilities |
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$ |
2,011 |
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| ROU assets obtained in exchange for new operating lease liabilities |
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$ |
9,284 |
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March 31, 2020 |
| Weighted-average remaining lease term - finance leases (years) |
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5.67 |
| Weighted-average remaining lease term - operating leases (years) |
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3.84 |
| Weighted-discount rate - finance leases |
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3.32 |
% |
| Weighted-discount rate - operating leases |
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3.04 |
% |
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| Schedule of Maturities of Lease Obligations |
Maturities of lease obligations by fiscal year were as follows as of March 31, 2020:
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Operating Leases |
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Finance Leases |
| 2020 (remainder) |
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$ |
14,881 |
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$ |
647 |
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| 2021 |
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25,080 |
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1,122 |
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| 2022 |
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17,199 |
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1,008 |
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| 2023 |
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11,063 |
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800 |
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| 2024 |
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7,650 |
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|
386 |
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| Thereafter |
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9,555 |
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2,100 |
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| Total future minimum lease payments |
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85,428 |
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6,063 |
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| Less: Interest |
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5,035 |
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815 |
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| Present value of lease liabilities: |
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$ |
80,393 |
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$ |
5,248 |
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| Schedule of Maturities of Lease Obligations |
Maturities of lease obligations by fiscal year were as follows as of March 31, 2020:
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Operating Leases |
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Finance Leases |
| 2020 (remainder) |
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$ |
14,881 |
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$ |
647 |
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| 2021 |
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25,080 |
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1,122 |
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| 2022 |
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17,199 |
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1,008 |
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| 2023 |
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11,063 |
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800 |
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| 2024 |
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7,650 |
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|
386 |
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| Thereafter |
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9,555 |
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2,100 |
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| Total future minimum lease payments |
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85,428 |
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6,063 |
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| Less: Interest |
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5,035 |
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815 |
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| Present value of lease liabilities: |
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$ |
80,393 |
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$ |
5,248 |
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