| LEASES The Company leases office space, warehouses, manufacturing facilities and equipment primarily through operating lease agreements. The Company has no material finance lease agreements. Leases have remaining terms which range from less than 1 year to 52 years and most leases provide the Company with the option to exercise one or more renewal terms. The following table presents the balance sheet location of the Company’s operating leases. | | | | | | | | | | | | | September 30, | | 2024 | | 2023 | | ROU assets: | | | | | Other assets | $ | 228.8 | | | $ | 176.2 | | | | | | | Lease liabilities: | | | | | Other current liabilities | $ | 41.0 | | | $ | 22.8 | | | Other liabilities | 207.4 | | | 169.6 | | | Total lease liabilities | $ | 248.4 | | | $ | 192.4 | |
Future minimum payments of the Company’s operating lease liabilities as of September 30, 2024 are presented in the following table. | | | | | | | | | | | | Fiscal 2025 | $ | 54.9 | | | | Fiscal 2026 | 48.2 | | | | Fiscal 2027 | 41.1 | | | | Fiscal 2028 | 35.0 | | | | Fiscal 2029 | 28.4 | | | | | Thereafter | 105.2 | | | | | Total future minimum payments | $ | 312.8 | | | | | Less: Implied interest | 64.4 | | | | | Total lease liabilities | $ | 248.4 | | | |
The following table presents supplemental information related to the Company’s operating leases. | | | | | | | | | | | | | | | | | | | Year Ended September 30, | | 2024 | | 2023 | | 2022 | Total operating lease expense | $55.6 | | $45.8 | | $45.5 | | Variable lease expense | 6.7 | | 5.3 | | 5.2 | | Short-term lease expense | 9.0 | | 7.7 | | 9.4 | | | | | | | | Weighted-average remaining lease term | 8 years | | 8 years | | 9 years | | Weighted-average IBR | 6.19% | | 5.99% | | 5.26% |
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