XML 42 R22.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Leases
12 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Leases LEASES
The Company has non-cancelable operating leases for office and other facilities in various locations, and certain equipment, which expire through 2031. Also, the Company subleases part of its office facility in Draper, Utah under a non-cancellable operating lease that expires in December 2025. The Company's leases do not contain any material residual value guarantees.
As of June 30, 2024, the weighted average remaining term of these operating leases is 6.5 years and the weighted-average discount rate used to estimate the net present value of the operating lease liabilities was 5.0%.
The total payment for amounts included in the measurement of operating lease liabilities was $13.9 million, $14.9 million, and $13.8 million during the years ended June 30, 2024, 2023, and 2022, respectively.
The total amount of ROU assets obtained in exchange for new operating lease liabilities was zero, $2.0 million, and $5.3 million during the years ended June 30, 2024, 2023, and 2022, respectively.
The components of lease expense during the years ended June 30, 2024, 2023, and 2022 are shown in the table below (in thousands):
Year ended June 30
202420232022
Operating lease expense (1)
$12,877 $14,081 $12,983 
Variable lease expense, net of credit2,461 2,251 2,909 
Sublease income(581)(586)(712)
Total lease cost$14,757 $15,746 $15,180 
(1) Includes short-term lease, which is not material for the fiscal years ended June 30, 2024, 2023, and 2022.