Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Sep. 30, 2021
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 the 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 $9.1 million and $9.6 million for the three months ended September 30, 2021 and 2020, respectively. Expense related to short-term leases, which are not recorded on the Condensed Consolidated Balance Sheets, was not material for the three months ended September 30, 2021 and 2020. As of September 30, 2021 and June 30, 2021, the weighted-average remaining lease term was 4.4 years and 4.6 years, respectively, and the weighted-average discount rate for operating leases was 1.60% and 1.64%, respectively.
Supplemental cash flow information related to leases was as follows:
Three Months Ended September 30,
In thousands 2021 2020
Operating cash outflows from operating leases $ 9,485  $ 9,370 
Right of use assets obtained in exchange for new operating lease liabilities $ 5,955  $ 6,844 
Maturities of lease liabilities as of September 30, 2021 were as follows:
Fiscal Year Ending June 30: (In thousands)
2022 (remaining nine months) $ 26,328 
2023 26,059 
2024 16,672 
2025 12,161 
2026 9,156 
2027 and thereafter 12,644 
Total lease payments 103,020 
Less imputed interest (4,134)
Total $ 98,886 
As of September 30, 2021, we did not have any material leases that had not yet commenced.