Leases

9 Months Ended

Mar. 31, 2021

Leases

Leases

6. Leases

Our lease portfolio consists of real estate, vehicles and equipment ROU assets, classified as operating leases. During the three months ended March 31, 2021, we amended and extended the lease agreement for our corporate office, increasing the value of our lease commitments. The remaining non-cancelable lease terms, inclusive of renewal options reasonably certain of exercise, range from one to 15 years.

The following table summarizes the ROU assets and the related lease liabilities recorded on the consolidated balance sheet:

	March 31,		June 30,
As of	2021		2020		Balance Sheet Classification
Assets:
Operating lease ROU assets	$	31,842	$	22,873	Other Assets
Liabilities:
Current portion		6,354		6,439	Accrued expenses and other current liabilities
Non-current portion		27,007		17,276	Other liabilities
Total operating lease liabilities	$	33,361	$	23,715

As of	March 31, 2021		June 30, 2020
Weighted average remaining lease term (in years) - ROU operating leases	8.61		6.49
Weighted average discount rate - ROU operating leases	4.07	%	4.40	%

The following table summarizes the composition of net lease expense:

	Three Months Ended				Nine Months Ended
	March 31,					March 31,
	2021		2020		2021		2020
Operating lease expense	$	1,919	$	1,885	$	5,901		5,647
Variable lease expense		317		361		928		992
Short-term lease expense		219		196		622		613
Total lease expense	$	2,455	$	2,442	$	7,451	$	7,252

The following table includes supplemental cash flow information:

	Nine Months Ended
	March 31,
	2021		2020
Operating cash flows used for ROU operating leases	$	6,131	$	5,529
Right of use assets obtained in exchange for new operating lease liabilities	$	13,882	$	8,591

At March 31, 2021, maturities of future lease liabilities were:

For the Years Ending June 30,
2021	$	2,047
2022		7,047
2023		5,143
2024		4,101
2025		3,320
2026 and thereafter		18,357
Total lease payments		40,015
Less: interest		6,654
Total operating lease liabilities	$	33,361

There were no significant future payment obligations related to executed lease agreements for which the related lease had not yet commenced as of March 31, 2021. Our lease agreements do not contain any material restrictive covenants or residual guarantee provisions.