Leases

12 Months Ended

Jun. 30, 2022

Leases [Abstract]

Leases

LEASES

The Company records leases on the Consolidated Balance Sheets as operating lease ROU assets, records the current portion of operating lease liabilities within accrued expenses and other current liabilities and, separately, records long-term operating lease liabilities. The difference between total ROU assets and total lease liabilities are primarily attributable to pre-payments of our obligations and the recognition of various lease incentives.

The Company has entered into operating lease agreements for facilities and equipment. The Company's leases have remaining lease terms of up to approximately ten years.

The components of operating lease expense were as follows:

	Year ended
	June 30,
	2022		2021		2020
Operating lease cost	$	144.7	$	157.8	$	163.7
Short-term lease cost	1.1		1.3		6.1
Variable lease cost	11.5		7.6		6.7
Total operating lease cost	$	157.3	$	166.7	$	176.5

The following table provides supplemental cash flow information related to the Company's leases:

	Year ended
	June 30,
	2022		2021		2020
Cash paid for operating lease liabilities	$	127.6	$	142.2	$	224.7
Operating lease ROU assets obtained in exchange for new operating lease liabilities	$	127.4	$	120.2	$	160.4

Other information related to our operating lease liabilities is as follows:

	June 30,			June 30,
	2022			2021
Weighted-average remaining lease term (in years)	6			6
Weighted-average discount rate	2.2		%	2.2		%
Current operating lease liability	$	95.1		$	94.7

As of June 30, 2022, maturities of operating lease liabilities are as follows:

Twelve months ending June 30, 2023	$	103.5
Twelve months ending June 30, 2024	90.6
Twelve months ending June 30, 2025	75.1
Twelve months ending June 30, 2026	65.6
Twelve months ending June 30, 2027	58.0
Thereafter	105.0
Total undiscounted lease obligations	497.8
Less: Imputed interest	(31.8)
Net lease obligations	$	466.0