Quarterly report pursuant to Section 13 or 15(d)

LEASES

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LEASES
 3 Months Ended
Sep. 30, 2023
Leases [Abstract]  
LEASES LEASESWe 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 29 years, including periods covered by options to extend the lease when it is reasonably certain that the option will be exercised.
Lease expense was $12.4 million and $9.4 million for the three months ended September 30, 2023 and 2022, 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, 2023 and 2022. As of September 30, 2023 and June 30, 2023, the weighted-average remaining lease term was 6.6 and 6.7 years, respectively, and the weighted-average discount rate for operating leases was 3.43% and 3.36%, respectively.
Supplemental cash flow information related to leases was as follows:
Three Months Ended September 30,
In thousands 2023 2022
Operating cash outflows from operating leases $ 10,002  $ 9,627 
Right of use assets obtained in exchange for new operating lease liabilities $ 12,968  $ 9,220 
Maturities of lease liabilities as of September 30, 2023 were as follows:
Fiscal Year Ending June 30: (In thousands)
2024 (remaining nine months) $ 30,560 
2025 37,843 
2026 29,918 
2027 23,728 
2028 15,664 
2029 and thereafter 61,970 
Total lease payments 199,683 
Less imputed interest (25,487)
Total $ 174,196 
As of September 30, 2023, we did not have material leases that had not yet commenced.