LEASES (Tables)
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12 Months Ended |
Sep. 30, 2023 |
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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, 2023 and 2022, respectively:
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| Balance Sheet Classification |
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Lease Classification |
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2023 |
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2022 |
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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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$ |
10,804 |
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$ |
10,727 |
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| Operating lease right-of-use-assets |
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Operating |
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71,629 |
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71,974 |
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| Total lease assets |
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$ |
82,433 |
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$ |
82,701 |
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| Current liabilities: |
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| Long-term debt, current maturities |
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Finance |
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$ |
2,683 |
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$ |
2,284 |
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| Other current liabilities |
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Operating |
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23,983 |
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22,869 |
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| Non-current liabilities: |
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| Long-term debt |
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Finance |
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6,588 |
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4,782 |
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| Operating lease liabilities |
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Operating |
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50,189 |
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51,445 |
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| Total lease liabilities |
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$ |
83,443 |
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$ |
81,380 |
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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, 2023, 2022 and 2021, respectively:
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2023 |
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2022 |
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2021 |
| Finance lease cost: |
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Amortization of ROU assets |
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$ |
2,791 |
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$ |
3,816 |
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$ |
4,016 |
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Interest on lease liabilities |
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248 |
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205 |
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248 |
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| Operating lease cost |
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21,546 |
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21,675 |
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21,716 |
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| Variable lease cost |
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10,601 |
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10,486 |
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6,752 |
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| Sublease income |
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(89) |
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(279) |
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(83) |
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| Total lease cost |
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$ |
35,097 |
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$ |
35,903 |
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$ |
32,649 |
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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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2023 |
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2022 |
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2021 |
| Cash paid for finance and operating lease liabilities: |
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Operating cash flows from finance leases |
$ |
259 |
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$ |
211 |
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$ |
255 |
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Operating cash flows from operating leases |
27,194 |
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27,648 |
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28,246 |
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Financing cash flows from finance leases |
2,642 |
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3,691 |
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4,134 |
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| ROU assets obtained in exchange for new finance lease liabilities |
4,745 |
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1,516 |
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3,687 |
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| ROU assets obtained in exchange for new operating lease liabilities |
8,294 |
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10,365 |
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16,341 |
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September 30, |
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2023 |
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2022 |
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2021 |
| Weighted-average remaining lease term - finance leases (years) |
4.47 |
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4.28 |
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3.85 |
| Weighted-average remaining lease term - operating leases (years) |
3.52 |
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3.62 |
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3.82 |
| Weighted-discount rate - finance leases |
4.48 |
% |
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3.08 |
% |
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2.70 |
% |
| Weighted-discount rate - operating leases |
3.47 |
% |
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2.45 |
% |
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2.28 |
% |
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| Schedule of Maturities of Operating Lease Obligations |
Maturities of lease obligations by fiscal year were as follows as of September 30, 2023:
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Operating Leases |
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Finance Leases |
| 2024 |
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$ |
26,123 |
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$ |
3,034 |
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| 2025 |
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20,619 |
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2,145 |
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| 2026 |
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16,027 |
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1,695 |
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| 2027 |
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8,381 |
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1,293 |
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| 2028 |
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4,788 |
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877 |
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| Thereafter |
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3,475 |
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1,263 |
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| Total future minimum lease payments |
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79,413 |
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10,307 |
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| Less: Interest |
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5,241 |
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1,036 |
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| Present value of lease liabilities: |
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$ |
74,172 |
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$ |
9,271 |
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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, 2023:
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Operating Leases |
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Finance Leases |
| 2024 |
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$ |
26,123 |
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$ |
3,034 |
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| 2025 |
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20,619 |
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2,145 |
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| 2026 |
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16,027 |
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1,695 |
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| 2027 |
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8,381 |
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1,293 |
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| 2028 |
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4,788 |
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877 |
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| Thereafter |
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3,475 |
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1,263 |
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| Total future minimum lease payments |
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79,413 |
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10,307 |
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| Less: Interest |
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5,241 |
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1,036 |
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| Present value of lease liabilities: |
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$ |
74,172 |
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$ |
9,271 |
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