LEASES

9 Months Ended

Mar. 31, 2024

The Company leases office facilities under non-cancelable operating leases with terms generally ranging between 4 and 25 years. The Company utilizes these leased office facilities for use by its employees in countries in which the Company conducts its business. Leases are negotiated with third parties and, in some instances contain renewal, expansion and termination options. The Company also subleases certain office facilities to third parties when the Company no longer intends to utilize the space. None of the Company’s leases restricts the payment of dividends or the incurrence of debt or additional lease obligations, or contain significant purchase options.

The following chart provides additional information about the Company’s operating leases:


	Three Months Ended March 31,				Nine Months Ended March 31,
Lease Cost:	2024		2023		2024			2023
Operating lease cost	$	18.8	$	19.0	$	56.6		$	57.5
Short-term lease cost	1.2		0.1		2.0			0.6
Variable lease cost	11.5		10.8		31.1			27.6
Sublease income	(4.2)		(4.3)		(12.6)			(12.0)
Net lease cost	$	27.3	$	25.6	$	77.1		$	73.7
Other information:
Operating cash outflows from operating leases	$	(18.0)	$	(16.8)	$	(55.2)		$	(57.2)
Right-of-use assets obtained in exchange for lease obligations	$	(2.0)	$	0.4	$	30.7		$	14.2

Weighted-average remaining lease term - real estate					6.9 years			7.4 years
Weighted-average discount rate - real estate leases					4.51		%	4.09		%

Future minimum lease payments for the Company’s operating leases are as follows:


Fiscal Year Ending June 30,

2024, remaining	$	19.2
2025	66.8
2026	56.3
2027	49.4
2028	37.4
Thereafter	114.0
Total future lease payments	343.1
Less: imputed interest	(51.7)
Total present value of lease liabilities	291.4
Current operating lease liabilities	58.8
Long-term operating lease liabilities	232.6
Total operating lease liabilities	$	291.4



Table excludes obligations for leases with original terms of twelve months or less, which have not been recognized as right-of-use assets or liabilities in the Condensed Consolidated Balance Sheets.