Leases (Tables)
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9 Months Ended |
Jun. 30, 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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June 30, 2020 |
| Non-current assets: |
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| Property, plant and equipment, net |
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Finance |
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$ |
8,338 |
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| Other assets |
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Operating |
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73,650 |
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| Total lease assets |
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$ |
81,988 |
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| Current liabilities: |
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| Long-term debt, current maturities |
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Finance |
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$ |
3,414 |
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| Other current liabilities |
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Operating |
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23,591 |
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| Non-current liabilities: |
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| Long-term debt |
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Finance |
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6,821 |
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| Other liabilities |
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Operating |
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51,039 |
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| Total lease liabilities |
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$ |
84,865 |
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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 June 30, 2020 |
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Nine months ended June 30, 2020 |
| Finance lease cost: |
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Amortization of ROU assets |
$ |
895 |
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$ |
1,246 |
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Interest on lease liabilities |
72 |
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149 |
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| Operating lease cost |
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5,430 |
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18,527 |
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| Variable lease cost |
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1,225 |
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4,106 |
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| Sublease income |
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(250) |
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(649) |
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| Total lease cost |
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$ |
7,372 |
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$ |
23,379 |
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Note 8. Leases (continued)
Supplemental information regarding the Company's leases follows:
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Nine months ended June 30, 2020 |
| Cash paid for finance and operating lease liabilities: |
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Operating cash flows from finance leases |
$ |
149 |
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Operating cash flows from operating leases |
$ |
22,519 |
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Financing cash flows from finance leases |
$ |
1,196 |
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| ROU assets obtained in exchange for new finance lease liabilities |
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$ |
2,165 |
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| ROU assets obtained in exchange for new operating lease liabilities |
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$ |
11,297 |
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June 30, 2020 |
| Weighted-average remaining lease term - finance leases (years) |
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4.68 |
| Weighted-average remaining lease term - operating leases (years) |
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4.33 |
| Weighted-discount rate - finance leases |
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2.81 |
% |
| Weighted-discount rate - operating leases |
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2.82 |
% |
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| Schedule of Maturities of Lease Obligations |
Maturities of lease obligations by fiscal year were as follows as of June 30, 2020:
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Operating Leases |
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Finance Leases |
| 2020 (remainder) |
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$ |
6,738 |
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$ |
957 |
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| 2021 |
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24,211 |
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3,721 |
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| 2022 |
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17,818 |
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2,808 |
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| 2023 |
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11,952 |
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1,119 |
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| 2024 |
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8,113 |
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|
408 |
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| Thereafter |
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10,148 |
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2,100 |
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| Total future minimum lease payments |
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78,980 |
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11,113 |
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| Less: Interest |
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4,350 |
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|
878 |
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| Present value of lease liabilities: |
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$ |
74,630 |
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$ |
10,235 |
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| Schedule of Maturities of Lease Obligations |
Maturities of lease obligations by fiscal year were as follows as of June 30, 2020:
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Operating Leases |
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Finance Leases |
| 2020 (remainder) |
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$ |
6,738 |
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$ |
957 |
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| 2021 |
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24,211 |
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3,721 |
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| 2022 |
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17,818 |
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2,808 |
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| 2023 |
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11,952 |
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1,119 |
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| 2024 |
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8,113 |
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|
408 |
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| Thereafter |
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10,148 |
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2,100 |
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| Total future minimum lease payments |
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78,980 |
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11,113 |
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| Less: Interest |
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4,350 |
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|
878 |
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| Present value of lease liabilities: |
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$ |
74,630 |
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$ |
10,235 |
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