Quarterly report pursuant to Section 13 or 15(d)


9 Months Ended
Mar. 31, 2022
Leases [Abstract]  
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 15 years, including periods covered by options to extend the lease when it is reasonably certain that the option will be exercised.
Lease expense was $9.2 million and $27.5 million for the three and nine months ended March 31, 2022, respectively, and $9.7 million and $29.3 million for the three and nine months ended March 31, 2021, respectively. Expense related to short-term leases, which are not recorded on the Condensed Consolidated Balance Sheets, was not material for three and nine months ended March 31, 2022 and 2021. As of March 31, 2022 and June 30, 2021, the weighted-average remaining lease term was 4.5 years and 4.6 years, respectively, and the weighted-average discount rate for operating leases was 1.58% and 1.64%, respectively.
Supplemental cash flow information related to leases was as follows:
Nine Months Ended March 31,
In thousands 2022 2021
Operating cash outflows from operating leases $ 28,680  $ 28,778 
Right of use assets obtained in exchange for new operating lease liabilities $ 20,698  $ 29,155 
Maturities of lease liabilities as of March 31, 2022 were as follows:
Fiscal Year Ending June 30: (In thousands)
2022 (remaining three months) $ 9,270 
2023 29,251 
2024 19,231 
2025 13,389 
2026 10,027 
2027 and thereafter 15,840 
Total lease payments 97,008 
Less imputed interest (3,797)
Total $ 93,211 
As of March 31, 2022, the aggregate amount of future obligations for lease agreements that had not yet commenced was $22.1 million.