Quarterly report pursuant to Section 13 or 15(d)

LEASES

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LEASES
 6 Months Ended
Dec. 31, 2021
Leases [Abstract]  
LEASES LEASES
We have operating leases for facilities, vehicles and other equipment. Our facility leases are primarily used for administrative functions, research and development (“R&D”), 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 $18.3 million for the three and six months ended December 31, 2021, respectively, and $10.0 million and $19.6 million for the three and six months ended December 31, 2020, respectively. Expense related to short-term leases, which are not recorded on the Condensed Consolidated Balance Sheets, was not material for three and six months ended December 31, 2021 and 2020. As of December 31, 2021 and June 30, 2021, the weighted-average remaining lease term was 4.3 years and 4.6 years, respectively, and the weighted-average discount rate for operating leases was 1.62% and 1.64%, respectively.
Supplemental cash flow information related to leases was as follows:
Six Months Ended December 31,
In thousands 2021 2020
Operating cash outflows from operating leases $ 19,050  $ 19,253 
Right of use assets obtained in exchange for new operating lease liabilities $ 11,389  $ 20,584 
Maturities of lease liabilities as of December 31, 2021 were as follows:
Fiscal Year Ending June 30: (In thousands)
2022 (remaining six months) $ 18,100 
2023 27,797 
2024 17,891 
2025 12,716 
2026 9,633 
2027 and thereafter 12,798 
Total lease payments 98,935 
Less imputed interest (3,915)
Total $ 95,020 
As of December 31, 2021, we did not have any material leases that had not yet commenced.