Leases (Tables)

9 Months Ended

Jun. 30, 2025

The components of lease expenses are as follows:


	Three Months Ended				Nine Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
	(in millions)
Operating lease cost	$	36.6	$	37.1	$	109.7	$	112.2
Finance lease cost:
Amortization of right-of-use assets	8.5		7.2		24.8		21.3
Interest on lease liabilities	0.9		0.7		2.7		2.2
Variable lease cost	8.0		8.6		24.2		26.1
Total lease cost	$	54.0	$	53.6	$	161.4	$	161.8

Additional cash flow information related to leases is as follows:


	Nine Months Ended
	June 30, 2025		June 30, 2024
	(in millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	128.4	$	140.8
Operating cash flows from finance leases	2.7		2.3
Financing cash flows from finance leases	23.8		22.3
Right-of-use assets obtained in exchange for new operating leases	104.5		60.7
Right-of-use assets obtained in exchange for new finance leases	35.0		21.3

Additional balance sheet information related to leases is as follows:


		As of		As of
(in millions except as noted)	Balance Sheet Classification	June 30, 2025		September 30, 2024
Assets:
Operating lease assets	Operating lease right-of-use assets	$	462.9	$	432.2
Finance lease assets	Property and equipment – net	71.6		62.1
Total lease assets		$	534.5	$	494.3

Liabilities:
Current:
Operating lease liabilities	Accrued expenses and other current liabilities	$	133.2	$	135.1
Finance lease liabilities	Current portion of long-term debt	30.0		25.5
Total current lease liabilities		163.2		160.6
Non-current:
Operating lease liabilities	Operating lease liabilities, noncurrent	521.5		510.6
Finance lease liabilities	Long-term debt	42.9		35.7
Total non-current lease liabilities		$	564.4	$	546.3


	As of		As of
	June 30, 2025		September 30, 2024
Weighted average remaining lease term (in years):
Operating leases	6.2		6.2
Finance leases	2.6		2.6
Weighted average discount rates:
Operating leases	5.2	%	5.1	%
Finance leases	4.7	%	4.4	%

Total remaining lease payments under both the Company’s operating and finance leases are as follows:


	Operating Leases		Finance Leases
Fiscal Year	(in millions)
2025 (three months remaining)	$	42.3	$	8.8
2026	156.5		31.7
2027	126.8		22.9
2028	110.0		12.7
2029	92.4		2.0
Thereafter	240.1		—
Total lease payments	$	768.1	$	78.1
Less: Amounts representing interest	$	(113.4)	$	(5.2)
Total lease liabilities	$	654.7	$	72.9

Total remaining lease payments under both the Company’s operating and finance leases are as follows:


	Operating Leases		Finance Leases
Fiscal Year	(in millions)
2025 (three months remaining)	$	42.3	$	8.8
2026	156.5		31.7
2027	126.8		22.9
2028	110.0		12.7
2029	92.4		2.0
Thereafter	240.1		—
Total lease payments	$	768.1	$	78.1
Less: Amounts representing interest	$	(113.4)	$	(5.2)
Total lease liabilities	$	654.7	$	72.9

AECOM 10-Q