Quarterly report pursuant to Section 13 or 15(d)


6 Months Ended
Dec. 31, 2020
Leases [Abstract]  
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 16 years, including periods covered by options to extend the lease when it is reasonably certain that the option will be exercised.
Lease expense was $10.0 million and $19.6 million for the three and six months ended December 31, 2020, respectively, and $9.1 million and $17.6 million for the three and six months ended December 31, 2019, respectively. Expense related to short-term leases, which are not recorded on the Condensed Consolidated Balance Sheets, was not material for the three and six months ended December 31, 2020 and 2019. As of December 31, 2020 and June 30, 2020, the weighted average remaining lease term was 4.8 years and 5.1 years, respectively, and the weighted average discount rate for operating leases was 1.80% and 1.99%, respectively.
Supplemental cash flow information related to leases was as follows:
Six Months Ended December 31,
In thousands 2020 2019
Operating cash outflows from operating leases $ 19,253  $ 17,424 
ROU assets obtained in exchange for new operating lease liabilities $ 20,584  $ 10,278 
Maturities of lease liabilities as of December 31, 2020 were as follows:
Fiscal year ending June 30: Amount
(In thousands)
2021 (remaining six months) $ 17,727 
2022 28,811 
2023 19,987 
2024 13,358 
2025 11,242 
2026 and thereafter 19,823 
Total lease payments 110,948 
Less imputed interest (5,285)
Total $ 105,663 
As of December 31, 2020, we did not have any material leases that had not yet commenced.