LEASES (Tables)
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12 Months Ended |
Sep. 30, 2021 |
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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 as of September 30, 2021 and 2020, respectively:
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| Balance Sheet Classification |
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Lease Classification |
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2021 |
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2020 |
| Non-current assets: |
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| Property, plant and equipment, net |
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Finance |
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$ |
12,337 |
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$ |
9,185 |
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| Other assets |
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Operating |
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80,262 |
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72,011 |
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| Total lease assets |
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$ |
92,599 |
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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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$ |
3,674 |
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$ |
3,515 |
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| Other current liabilities |
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Operating |
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25,151 |
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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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5,503 |
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6,169 |
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| Other liabilities |
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Operating |
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57,272 |
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49,297 |
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| Total lease liabilities |
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$ |
91,600 |
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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 for the years ended September 30, 2021 and 2020, respectively:
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2021 |
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2020 |
| Finance lease cost: |
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Amortization of ROU assets |
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$ |
4,016 |
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$ |
2,112 |
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Interest on lease liabilities |
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248 |
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206 |
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Operating lease cost (a)
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21,716 |
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23,735 |
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Variable lease cost (a)
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6,752 |
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5,298 |
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| Sublease income |
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(83) |
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(732) |
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| Total lease cost |
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$ |
32,649 |
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$ |
30,619 |
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(a) Annual lease cost under operating leases were $28,468, $29,033 and $38,015 in fiscal 2021, 2020 and 2019, respectively.
Supplemental information regarding the Company's leases follows:
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For the Year Ended September 30, |
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2021 |
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2020 |
| Cash paid for finance and operating lease liabilities: |
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Operating cash flows from finance leases |
$ |
255 |
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$ |
207 |
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Operating cash flows from operating leases |
$ |
28,246 |
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$ |
29,309 |
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Financing cash flows from finance leases |
$ |
4,134 |
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$ |
2,064 |
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| ROU assets obtained in exchange for new finance lease liabilities |
$ |
3,687 |
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$ |
2,613 |
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| ROU assets obtained in exchange for new operating lease liabilities |
$ |
16,341 |
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$ |
12,442 |
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September 30, 2021 |
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September 30, 2020 |
| Weighted-average remaining lease term - finance leases (years) |
3.85 |
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4.39 |
| Weighted-average remaining lease term - operating leases (years) |
3.82 |
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3.52 |
| Weighted-discount rate - finance leases |
2.70 |
% |
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2.89 |
% |
| Weighted-discount rate - operating leases |
2.28 |
% |
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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 September 30, 2021:
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Operating Leases |
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Finance Leases |
| 2022 |
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$ |
26,643 |
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$ |
3,927 |
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| 2023 |
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20,953 |
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2,125 |
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| 2024 |
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15,588 |
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1,222 |
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| 2025 |
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10,777 |
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565 |
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| 2026 |
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7,863 |
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456 |
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| Thereafter |
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4,341 |
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1,592 |
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| Total future minimum lease payments |
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86,165 |
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9,887 |
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| Less: Interest |
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3,742 |
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710 |
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| Present value of lease liabilities: |
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$ |
82,423 |
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$ |
9,177 |
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| Schedule of Maturities of Finance Lease Obligations |
Maturities of lease obligations by fiscal year were as follows as of September 30, 2021:
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Operating Leases |
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Finance Leases |
| 2022 |
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$ |
26,643 |
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$ |
3,927 |
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| 2023 |
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20,953 |
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2,125 |
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| 2024 |
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15,588 |
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1,222 |
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| 2025 |
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10,777 |
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565 |
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| 2026 |
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7,863 |
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456 |
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| Thereafter |
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4,341 |
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1,592 |
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| Total future minimum lease payments |
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86,165 |
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9,887 |
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| Less: Interest |
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3,742 |
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710 |
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| Present value of lease liabilities: |
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$ |
82,423 |
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$ |
9,177 |
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