| LEASES |
LEASES: The Company’s lease portfolio includes various contracts for real estate, vehicles, information technology and other equipment. The following table presents the balance sheet and lease classification for the Company's lease portfolio as of September 30, 2024 and 2023, respectively:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance Sheet Classification |
|
Lease Classification |
|
2024 |
|
2023 |
|
|
| Non-current assets: |
|
|
|
|
|
|
|
|
| Property, plant and equipment, net |
|
Finance |
|
$ |
26,428 |
|
|
$ |
10,804 |
|
|
|
| Operating lease right-of-use-assets |
|
Operating |
|
60,499 |
|
|
71,629 |
|
|
|
| Total lease assets |
|
|
|
$ |
86,927 |
|
|
$ |
82,433 |
|
|
|
|
|
|
|
|
|
|
|
|
| Current liabilities: |
|
|
|
|
|
|
|
|
| Long-term debt, current maturities |
|
Finance |
|
$ |
5,820 |
|
|
$ |
2,683 |
|
|
|
| Other current liabilities |
|
Operating |
|
22,617 |
|
|
23,983 |
|
|
|
| Non-current liabilities: |
|
|
|
|
|
|
|
|
| Long-term debt |
|
Finance |
|
16,283 |
|
|
6,588 |
|
|
|
| Operating lease liabilities |
|
Operating |
|
40,073 |
|
|
50,189 |
|
|
|
| Total lease liabilities |
|
|
|
$ |
84,793 |
|
|
$ |
83,443 |
|
|
|
The following table presents the components of lease cost for the years ended September 30, 2024, 2023 and 2022, respectively:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
2023 |
|
2022 |
| Finance lease cost: |
|
|
|
|
|
|
|
|
Amortization of ROU assets |
|
|
$ |
5,104 |
|
|
$ |
2,791 |
|
|
$ |
3,816 |
|
|
Interest on lease liabilities |
|
|
808 |
|
|
248 |
|
|
205 |
|
| Operating lease cost |
|
|
21,463 |
|
|
21,546 |
|
|
21,675 |
|
|
|
|
|
|
|
|
|
| Variable lease cost |
|
|
10,960 |
|
|
10,601 |
|
|
10,486 |
|
| Sublease income |
|
|
(273) |
|
|
(89) |
|
|
(279) |
|
| Total lease cost |
|
|
$ |
38,062 |
|
|
$ |
35,097 |
|
|
$ |
35,903 |
|
Supplemental information regarding the Company's leases follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Year Ended September 30, |
|
|
2024 |
|
2023 |
|
2022 |
| Cash paid for finance and operating lease liabilities: |
|
|
|
|
|
|
Operating cash flows from finance leases |
$ |
824 |
|
|
$ |
259 |
|
|
$ |
211 |
|
|
Operating cash flows from operating leases |
28,121 |
|
|
27,194 |
|
|
27,648 |
|
|
Financing cash flows from finance leases |
5,055 |
|
|
2,642 |
|
|
3,691 |
|
| ROU assets obtained in exchange for new finance lease liabilities |
17,720 |
|
|
4,745 |
|
|
1,516 |
|
| ROU assets obtained in exchange for new operating lease liabilities |
7,577 |
|
|
8,294 |
|
|
10,365 |
|
|
|
|
|
|
|
|
|
|
September 30, |
|
|
2024 |
|
2023 |
|
2022 |
| Weighted-average remaining lease term - finance leases (years) |
3.75 |
|
4.47 |
|
4.28 |
| Weighted-average remaining lease term - operating leases (years) |
3.12 |
|
3.52 |
|
3.62 |
| Weighted-discount rate - finance leases |
5.33 |
% |
|
4.48 |
% |
|
3.08 |
% |
| Weighted-discount rate - operating leases |
4.19 |
% |
|
3.47 |
% |
|
2.45 |
% |
Maturities of lease obligations by fiscal year were as follows as of September 30, 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Leases |
|
Finance Leases |
| 2025 |
|
$ |
24,711 |
|
|
$ |
6,836 |
|
| 2026 |
|
19,934 |
|
|
6,391 |
|
| 2027 |
|
11,043 |
|
|
5,948 |
|
| 2028 |
|
6,179 |
|
|
3,165 |
|
| 2029 |
|
2,278 |
|
|
1,094 |
|
| Thereafter |
|
3,447 |
|
|
1,058 |
|
| Total future minimum lease payments |
|
67,592 |
|
|
24,492 |
|
| Less: Interest |
|
4,902 |
|
|
2,389 |
|
| Present value of lease liabilities: |
|
$ |
62,690 |
|
|
$ |
22,103 |
|
|
| LEASES |
LEASES: The Company’s lease portfolio includes various contracts for real estate, vehicles, information technology and other equipment. The following table presents the balance sheet and lease classification for the Company's lease portfolio as of September 30, 2024 and 2023, respectively:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance Sheet Classification |
|
Lease Classification |
|
2024 |
|
2023 |
|
|
| Non-current assets: |
|
|
|
|
|
|
|
|
| Property, plant and equipment, net |
|
Finance |
|
$ |
26,428 |
|
|
$ |
10,804 |
|
|
|
| Operating lease right-of-use-assets |
|
Operating |
|
60,499 |
|
|
71,629 |
|
|
|
| Total lease assets |
|
|
|
$ |
86,927 |
|
|
$ |
82,433 |
|
|
|
|
|
|
|
|
|
|
|
|
| Current liabilities: |
|
|
|
|
|
|
|
|
| Long-term debt, current maturities |
|
Finance |
|
$ |
5,820 |
|
|
$ |
2,683 |
|
|
|
| Other current liabilities |
|
Operating |
|
22,617 |
|
|
23,983 |
|
|
|
| Non-current liabilities: |
|
|
|
|
|
|
|
|
| Long-term debt |
|
Finance |
|
16,283 |
|
|
6,588 |
|
|
|
| Operating lease liabilities |
|
Operating |
|
40,073 |
|
|
50,189 |
|
|
|
| Total lease liabilities |
|
|
|
$ |
84,793 |
|
|
$ |
83,443 |
|
|
|
The following table presents the components of lease cost for the years ended September 30, 2024, 2023 and 2022, respectively:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
2023 |
|
2022 |
| Finance lease cost: |
|
|
|
|
|
|
|
|
Amortization of ROU assets |
|
|
$ |
5,104 |
|
|
$ |
2,791 |
|
|
$ |
3,816 |
|
|
Interest on lease liabilities |
|
|
808 |
|
|
248 |
|
|
205 |
|
| Operating lease cost |
|
|
21,463 |
|
|
21,546 |
|
|
21,675 |
|
|
|
|
|
|
|
|
|
| Variable lease cost |
|
|
10,960 |
|
|
10,601 |
|
|
10,486 |
|
| Sublease income |
|
|
(273) |
|
|
(89) |
|
|
(279) |
|
| Total lease cost |
|
|
$ |
38,062 |
|
|
$ |
35,097 |
|
|
$ |
35,903 |
|
Supplemental information regarding the Company's leases follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Year Ended September 30, |
|
|
2024 |
|
2023 |
|
2022 |
| Cash paid for finance and operating lease liabilities: |
|
|
|
|
|
|
Operating cash flows from finance leases |
$ |
824 |
|
|
$ |
259 |
|
|
$ |
211 |
|
|
Operating cash flows from operating leases |
28,121 |
|
|
27,194 |
|
|
27,648 |
|
|
Financing cash flows from finance leases |
5,055 |
|
|
2,642 |
|
|
3,691 |
|
| ROU assets obtained in exchange for new finance lease liabilities |
17,720 |
|
|
4,745 |
|
|
1,516 |
|
| ROU assets obtained in exchange for new operating lease liabilities |
7,577 |
|
|
8,294 |
|
|
10,365 |
|
|
|
|
|
|
|
|
|
|
September 30, |
|
|
2024 |
|
2023 |
|
2022 |
| Weighted-average remaining lease term - finance leases (years) |
3.75 |
|
4.47 |
|
4.28 |
| Weighted-average remaining lease term - operating leases (years) |
3.12 |
|
3.52 |
|
3.62 |
| Weighted-discount rate - finance leases |
5.33 |
% |
|
4.48 |
% |
|
3.08 |
% |
| Weighted-discount rate - operating leases |
4.19 |
% |
|
3.47 |
% |
|
2.45 |
% |
Maturities of lease obligations by fiscal year were as follows as of September 30, 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Leases |
|
Finance Leases |
| 2025 |
|
$ |
24,711 |
|
|
$ |
6,836 |
|
| 2026 |
|
19,934 |
|
|
6,391 |
|
| 2027 |
|
11,043 |
|
|
5,948 |
|
| 2028 |
|
6,179 |
|
|
3,165 |
|
| 2029 |
|
2,278 |
|
|
1,094 |
|
| Thereafter |
|
3,447 |
|
|
1,058 |
|
| Total future minimum lease payments |
|
67,592 |
|
|
24,492 |
|
| Less: Interest |
|
4,902 |
|
|
2,389 |
|
| Present value of lease liabilities: |
|
$ |
62,690 |
|
|
$ |
22,103 |
|
|