|12 Months Ended|
Jun. 30, 2020
We have operating leases for facilities, vehicles and other equipment. Our facility leases are primarily used for administrative functions, research and development, manufacturing, and storage and distribution. Our finance leases are not material.
Our existing leases do not contain significant restrictive provisions or residual value guarantees; however, certain leases contain provisions for payment of maintenance, real estate taxes, or insurance costs by us. Our leases have remaining lease terms ranging from less than one year to sixteen years, including periods covered by options to extend the lease when it is reasonably certain that the option will be exercised.
Lease expense for the fiscal year ended June 30, 2020 was $35.1 million. Expense related to short-term leases, which are not recorded on the Consolidated Balance Sheets, was not material for the fiscal year ended June 30, 2020. At June 30, 2020, the weighted average remaining lease term and weighted average discount rate for operating leases was 5.1 years and 1.99%, respectively.
Supplemental cash flow information related to leases was as follows:
Maturities of lease liabilities as of June 30, 2020 were as follows:
As of June 30, 2020, we did not have material leases that had not yet commenced.
As of June 30, 2019, future minimum lease payments as defined under the previous lease accounting guidance of ASC 840 under noncancelable operating leases were as follows:
Facilities rent expense under the previous lease accounting guidance of ASC 840 was $13.5 million and $10.4 million for the fiscal years ended June 30, 2019 and 2018.
The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef