Leases

12 Months Ended

Jun. 30, 2022

Leases [Abstract]

Leases

8.LEASES

The Company has entered into leasing arrangements classified as operating leases under accounting guidance. These leasing arrangements relate primarily to the lease of its corporate head office, administration offices, a manufacturing facility, and branch locations through which the Company operates its financial services business in South Africa. The Company’s operating leases have a remaining lease term of between one year to six years. The Company also operates parts of its financial services business from locations which it leases for a period of less than one year.

The Company’s operating lease expense during the years ended June 30, 2022, 2021 and 2020, was $4.0 million, $4.1 million, and $3.6 million, respectively. The Company does not have any significant leases that have not commenced as of June 30, 2022.

The Company has entered into short-term leasing arrangements, primarily for the lease of branch locations and other locations to operate its financial services business in South Africa. The Company’s short-term lease expense during the years ended June 30, 2022, 2021 and 2020, was $4.9 million, $4.1 million and $4.2 million, respectively.

8.LEASES (continued)

The following table presents supplemental balance sheet disclosure related to our right-of-use assets and our operating leases liabilities as of June 30, 2022 and 2021:

	June 30,			June 30,
	2022			2021
Right-of-use assets obtained in exchange for lease obligations
Weighted average remaining lease term (years)		2.14			2.77
Weighted average discount rate		9.3	%		9.6	%
Maturities of operating lease liabilities
2023	$	2,896
2024		1,979
2025		1,228
2026		987
2027		1,004
Thereafter		1,725
Total undiscounted operating lease liabilities		9,819
Less imputed interest		2,494
Total operating lease liabilities, included in		7,325
Operating lease liability - current		2,498
Operating lease liability - long-term	$	4,827