Leases

12 Months Ended

Jun. 27, 2020

Note 12. Leases

The Company is a lessee in several operating leases, primarily real estate facilities for office space. The Company's lease arrangements are composed of operating leases with various expiration dates through March 31, 2030. The Company's leases do not contain any material residual value guarantees.

During the fiscal year ending on June 27, 2020, the total operating lease costs was $13.5 million. Total variable lease costs were immaterial During the fiscal year ending on June 27, 2020. The total operating costs were included in cost of revenues, research and development, and selling, general and administrative in the Company’s Consolidated Statements of Operations.

As of June 27, 2020, the weighted-average remaining lease term was 5.2 years, and the weighted-average discount rate was 4.7%.

During the fiscal year ending on June 27, 2020, cash paid for amounts included in the measurement of operating lease liabilities was $15.7 million; and operating ROU assets obtained in exchange of new operating lease liabilities was $17.3 million.

The balance sheet information related to our operating leases is as follows (in millions):



	June 27, 2020
Other non-current assets	$	40.5
Total operating ROU assets	$	40.5

Other current liabilities	$	11.7
Other non-current liabilities	28.1
Total operating lease liabilities	$	39.8

Future minimum operating lease payments as of June 27, 2020 are as follows (in millions):



	Operating Leases
Fiscal 2021	$	12.8
Fiscal 2022	10.2
Fiscal 2023	6.0
Fiscal 2024	4.6
Fiscal 2025	3.6
Thereafter	7.5
Total lease payments	$	44.7
Less: Interest	(4.9		)
Present value of lease liabilities	$	39.8

Prior to the adoption of the new lease standard, future minimum undiscounted operating lease payments as of June 29, 2019, excluding non-lease components, were as follows (in millions):



	Operating Leases
Fiscal 2020	$	11.7
Fiscal 2021	10.8
Fiscal 2022	7.4
Fiscal 2023	3.9
Fiscal 2024	2.5
Thereafter	5.3
Less: sublease income	(0.1		)
Total lease payments	$	41.5