Quarterly report pursuant to Section 13 or 15(d)

Leases

v3.23.1
Leases
 6 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Leases Leases
For the three and six months ended March 31, 2023 and 2022, the Company recognized $8.1 and $15.2, and $6.8 and $12.9 of operating lease expense, respectively, including short-term lease expense and variable lease costs, which were immaterial in each period. The Company’s finance leases were insignificant as of March 31, 2023 and September 30, 2022.

The following table presents supplemental Consolidated Balance Sheet information related to the Company’s operating leases:
March 31, 2023 September 30, 2022
Operating lease right-of-use assets, net $ 108.0 $ 87.9
Other current liabilities 20.4 15.7
Operating lease liabilities 83.2 70.5
Total operating lease liabilities $ 103.6 $ 86.2
Weighted-average remaining lease term (in years) 7.6 7.9
Weighted-average discount rate 3.1  % 2.7  %
As of March 31, 2023, the maturities of the Company’s operating lease liabilities were as follows:
2023 (excluding the six months ended March 31, 2023)
 $ 11.1 
2024 18.8 
2025 16.3 
2026 13.7 
2027 11.7 
Thereafter 43.7 
Total lease payments 115.3 
Less: imputed interest (11.7)
Total present value of lease payments $ 103.6 

Supplemental Consolidated Statements of Cash Flow information related to the Company’s operating leases is as follows:
Six Months Ended March 31,
2023 2022
Cash paid for amounts included in the measurement of operating lease liabilities $ 10.8  $ 10.3 
Operating lease right-of-use assets, net obtained in exchange for new operating lease liabilities 8.1  15.5 
Operating leases acquired in acquisitions 15.0  —