Leases

12 Months Ended

Jun. 30, 2022

Note 5. Leases

The Company has operating leases for corporate offices and warehouse facilities worldwide. Additionally, the Company leases cars, copy machines and laptops that are considered operating leases. Some of the Company's leases are non-cancellable operating lease agreements with various expiration dates through September 2026. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments.

Operating lease costs for the twelve months ended June 30, 2022 and 2021 were $9.2 million and $9.1 million, respectively, not including short-term operating lease costs for the twelve months ended June 30, 2022 and 2021 of $0.4 million and $0.2 million, respectively.

For the twelve months ended June 30, 2022 and 2021, cash paid for amounts included in the measurement of operating lease liabilities was approximately $9.8 million and $9.7 million, respectively. Operating lease liabilities arising from obtaining operating right-of-use assets totaled $3.2 million and $1.1 million, respectively for the years ended June 30, 2022 and 2021.

Operating lease right-of-use assets and operating lease obligation are represented in the table below (in thousands):


	June 30, 2022			June 30, 2021
Beginning balance operating lease right-of-use asset	$	22,522		$	28,647
Lease asset added		3,522			1,069
Amortization for the year		(9,246	)		(7,194	)
Ending balance operating lease right-of-use asset	$	16,798		$	22,522

Beginning balance operating lease obligation	$	25,609		$	32,397
Lease liability added		3,209			1,069
Repayment and interest accretion		(9,798	)		(7,857	)
Ending balance operating lease obligation	$	19,020		$	25,609

Current portion of operating lease obligation	$	8,567		$	8,169
Noncurrent portion of operating lease obligation	$	10,453		$	17,441

Maturities of operating lease liabilities as of June 30, 2022 are presented in the table below (in thousands):


Year Ending June 30,	Amount
2023	$	9,554
2024		6,770
2025		3,631
2026		354
2027		197
Total operating lease payments		20,506
Less: imputed interest		(1,486	)
Present value of operating lease liabilities	$	19,020

The weighted average remaining lease term for the Company’s operating leases was 2.59 years and the weighted average discount rate was 6.07% as of June 30, 2022.