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Leases
9 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Leases

Note 5. Leases

 

The Company has operating leases for corporate offices and warehouse facilities worldwide. Additionally, the Company leases cars, copy machines and laptops through various operating leases. For some leases the Company has entered into non-cancelable operating lease agreements with various expiration dates through June 2025. 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 three and nine months ended March 31, 2020 were $2.4 million and $7.1 million, not including short-term operating lease costs, which were not material.  

 

For the three and nine months ended March 31, 2020, cash paid for amounts included in the measurement of operating lease liabilities was approximately $2.4 million and $7.1 million, respectively. Operating lease liabilities arising from obtaining operating right-of-use assets totaled $0.7 million and $4.4 million for the three and nine months ended March 31, 2020, respectively.

 

Maturities of operating lease liabilities as of March 31, 2020 are presented in the table below (in thousands):

 

Year Ending June 30,

 

Amount

 

2020 (remaining 3 months)

 

$

2,434

 

2021

 

 

9,086

 

2022

 

 

8,798

 

2023

 

 

8,439

 

2024

 

 

5,780

 

Thereafter

 

 

3,000

 

Total operating lease payments

 

 

37,537

 

Less: imputed interest

 

 

(3,888

)

Present value of operating lease liabilities

 

$

33,649

 

Weighted average remaining lease term (in years)

 

 

4.11

 

Weighted average discount rate

 

 

5.35

%