Leases (Tables)
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12 Months Ended |
Sep. 30, 2020 |
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| Leases [Abstract] |
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| 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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September 30, 2020 |
| Non-current assets: |
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| Property, plant and equipment, net |
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Finance |
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$ |
9,185 |
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| Other assets |
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Operating |
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72,011 |
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| Total lease assets |
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$ |
81,196 |
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| Current liabilities: |
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| Long-term debt, current maturities |
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Finance |
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$ |
3,515 |
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| Other current liabilities |
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Operating |
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23,942 |
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| Non-current liabilities: |
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| Long-term debt |
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Finance |
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6,169 |
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| Other liabilities |
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Operating |
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49,297 |
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| Total lease liabilities |
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$ |
82,923 |
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| Summary of Components of Lease Cost |
The following table presents the components of lease cost:
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For the Year Ended September 30, 2020 |
| Finance lease cost: |
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Amortization of ROU assets |
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$ |
2,112 |
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Interest on lease liabilities |
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206 |
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Operating lease cost (a)
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23,735 |
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Variable lease cost (a)
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5,298 |
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| Sublease income |
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(732) |
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| Total lease cost |
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$ |
30,619 |
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(a) Annual lease cost under operating leases were $29,033, $38,015 and $38,934 in fiscal 2020, 2019 and 2018, respectively.
Supplemental information regarding the Company's leases follows:
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For the Year Ended September 30, 2020 |
| Cash paid for finance and operating lease liabilities: |
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Operating cash flows from finance leases |
$ |
207 |
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Operating cash flows from operating leases |
$ |
29,309 |
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Financing cash flows from finance leases |
$ |
2,064 |
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| ROU assets obtained in exchange for new finance lease liabilities |
$ |
2,613 |
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| ROU assets obtained in exchange for new operating lease liabilities |
$ |
12,442 |
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September 30, 2020 |
| Weighted-average remaining lease term - finance leases (years) |
4.39 |
| Weighted-average remaining lease term - operating leases (years) |
3.52 |
| Weighted-discount rate - finance leases |
2.89 |
% |
| Weighted-discount rate - operating leases |
2.82 |
% |
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| Schedule of Maturities of Lease Obligations |
Maturities of lease obligations by fiscal year were as follows as of September 30, 2020:
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Operating Leases |
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Finance Leases |
| 2021 |
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$ |
25,804 |
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$ |
3,847 |
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| 2022 |
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18,973 |
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2,877 |
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| 2023 |
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12,939 |
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1,168 |
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| 2024 |
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8,706 |
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462 |
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| 2025 |
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5,515 |
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407 |
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| Thereafter |
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5,224 |
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1,753 |
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| Total future minimum lease payments |
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77,161 |
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10,514 |
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| Less: Interest |
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3,922 |
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830 |
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| Present value of lease liabilities: |
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$ |
73,239 |
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$ |
9,684 |
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| Schedule of Maturities of Lease Obligations |
Maturities of lease obligations by fiscal year were as follows as of September 30, 2020:
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Operating Leases |
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Finance Leases |
| 2021 |
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$ |
25,804 |
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$ |
3,847 |
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| 2022 |
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18,973 |
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2,877 |
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| 2023 |
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12,939 |
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1,168 |
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| 2024 |
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8,706 |
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462 |
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| 2025 |
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5,515 |
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407 |
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| Thereafter |
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5,224 |
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1,753 |
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| Total future minimum lease payments |
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77,161 |
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10,514 |
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| Less: Interest |
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3,922 |
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830 |
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| Present value of lease liabilities: |
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$ |
73,239 |
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$ |
9,684 |
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