LEASES (Tables)
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12 Months Ended |
Sep. 30, 2022 |
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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, 2022 and 2021, respectively:
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| Balance Sheet Classification |
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Lease Classification |
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2022 |
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2021 |
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| Non-current assets: |
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| Property, plant and equipment, net |
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Finance |
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$ |
10,727 |
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$ |
12,337 |
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| Other assets |
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Operating |
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71,974 |
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80,262 |
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| Total lease assets |
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$ |
82,701 |
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$ |
92,599 |
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| Current liabilities: |
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| Long-term debt, current maturities |
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Finance |
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$ |
2,284 |
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$ |
3,674 |
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| Other current liabilities |
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Operating |
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22,869 |
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25,151 |
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| Non-current liabilities: |
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| Long-term debt |
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Finance |
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4,782 |
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5,503 |
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| Other liabilities |
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Operating |
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51,445 |
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57,272 |
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| Total lease liabilities |
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$ |
81,380 |
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$ |
91,600 |
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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, 2022, 2021 and 2020, respectively:
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2022 |
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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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$ |
3,816 |
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$ |
4,016 |
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$ |
2,112 |
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Interest on lease liabilities |
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205 |
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248 |
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206 |
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| Operating lease cost |
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21,675 |
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21,716 |
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23,735 |
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| Variable lease cost |
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10,486 |
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6,752 |
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5,298 |
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| Sublease income |
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(279) |
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(83) |
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(732) |
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| Total lease cost |
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$ |
35,903 |
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$ |
32,649 |
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$ |
30,619 |
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Supplemental information regarding the Company's leases follows:
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For the Year Ended September 30, |
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2022 |
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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 |
$ |
211 |
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$ |
255 |
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$ |
207 |
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Operating cash flows from operating leases |
27,648 |
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28,246 |
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29,309 |
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Financing cash flows from finance leases |
3,691 |
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4,134 |
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2,064 |
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| ROU assets obtained in exchange for new finance lease liabilities |
1,516 |
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3,687 |
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2,613 |
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| ROU assets obtained in exchange for new operating lease liabilities |
10,365 |
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16,341 |
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12,442 |
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September 30, |
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2022 |
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2021 |
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2020 |
| Weighted-average remaining lease term - finance leases (years) |
4.28 |
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3.85 |
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4.39 |
| Weighted-average remaining lease term - operating leases (years) |
3.62 |
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3.82 |
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3.52 |
| Weighted-discount rate - finance leases |
3.08 |
% |
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2.70 |
% |
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2.89 |
% |
| Weighted-discount rate - operating leases |
2.45 |
% |
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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, 2022:
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Operating Leases |
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Finance Leases |
| 2023 |
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$ |
24,378 |
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$ |
2,499 |
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| 2024 |
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19,973 |
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1,552 |
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| 2025 |
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14,755 |
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899 |
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| 2026 |
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11,023 |
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799 |
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| 2027 |
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4,538 |
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711 |
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| Thereafter |
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3,311 |
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1,262 |
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| Total future minimum lease payments |
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77,978 |
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7,722 |
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| Less: Interest |
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3,664 |
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656 |
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| Present value of lease liabilities: |
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$ |
74,314 |
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$ |
7,066 |
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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, 2022:
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Operating Leases |
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Finance Leases |
| 2023 |
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$ |
24,378 |
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$ |
2,499 |
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| 2024 |
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19,973 |
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1,552 |
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| 2025 |
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14,755 |
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899 |
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| 2026 |
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11,023 |
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799 |
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| 2027 |
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4,538 |
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711 |
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| Thereafter |
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3,311 |
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1,262 |
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| Total future minimum lease payments |
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77,978 |
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7,722 |
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| Less: Interest |
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3,664 |
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656 |
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| Present value of lease liabilities: |
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$ |
74,314 |
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$ |
7,066 |
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