Leases Leases (Notes)

6 Months Ended

Dec. 31, 2019

Lessee, Operating Leases [Abstract]

Lessee, Operating Leases [Text Block]

Note 8. Leases

The Company has various operating leases for office and studio space, as well as equipment, expiring at various dates through 2024. The Company currently has no finance leases. Some leases include options to extend the lease term or terminate the lease prior to the end of the lease term. The exercise of lease renewal options is generally at the Company’s discretion. The depreciable life of leasehold improvements are limited by the expected lease term unless there is a transfer of title or purchase option reasonably certain of exercise.

The leases generally provide for fixed annual rentals plus certain other costs. Certain leases include variable payments based on the Company’s use of the respective assets. The Company’s lease agreements do not include any material residual value guarantees or material restrictive covenants. Since the Company’s leases do not provide an implicit interest rate, the Company used its incremental borrowing rate as of Adoption Date to determine the present value of future lease payments for all operating leases that commenced prior to that date.

Operating lease cost consists of the following:

	Three Months Ended		Six Months Ended
	December 31, 2019		December 31, 2019
Operating lease cost	$	1,372	$	2,744
Variable lease cost	728		781
Total operating lease cost	$	2,100	$	3,525

The following table summarizes the weighted-average remaining lease term and discount rate for operating leases:

	December 31, 2019
Weighted-average discount rate for operating leases	3.29	%
Weighted-average remaining operating lease term in years	3.82

As of December 31, 2019, the maturities of the Company’s operating lease liabilities are as follows:

Remainder of fiscal year ending June 30, 2020	$	2,919
Fiscal year ending June 30, 2021	4,374
Fiscal year ending June 30, 2022	3,672
Fiscal year ending June 30, 2023	3,379
Fiscal year ending June 30, 2024	2,816
Thereafter	—
Total undiscounted operating lease payments	17,160
Less: imputed interest	1,033
Total operating lease liabilities	16,127
Less: current portion of operating lease liabilities	4,689
Non-current operating lease liabilities	$	11,438

Supplemental cash flow information related to operating leases:

	Six Months Ended
	December 31, 2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	2,830
Cash paid for variable lease payments not included in measurement of operating lease liabilities	481
Total	$	3,311