LEASES

12 Months Ended

Jun. 30, 2025

We have operating leases for facilities, vehicles and other equipment. Our facility leases are primarily used for administrative functions, R&D, manufacturing, and storage and distribution. Our finance leases are not significant.

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 27 years, including periods covered by options to extend the lease when it is reasonably certain that the option will be exercised.

Lease expense was $51.5 million, $54.6 million and $41.8 million for the fiscal years ended June 30, 2025, 2024 and 2023, respectively. Expense related to short-term leases, which are not recorded on the Consolidated Balance Sheets, was not material for the fiscal years ended June 30, 2025 and 2024. As of June 30, 2025 and 2024, the weighted-average remaining lease term was 6.2 years and 6.7 years, respectively, and the weighted-average discount rate for operating leases was 4.06% and 4.30%, as of June 30, 2025 and 2024, respectively.

Supplemental cash flow information related to leases was as follows:


	Year Ended June 30,
(In thousands)	2025		2024
Operating cash outflows from operating leases	$	47,183	$	41,405
ROU assets obtained in exchange for new operating lease liabilities	$	46,018	$	62,505

Maturities of lease liabilities as of June 30, 2025 were as follows:


Fiscal Year Ending June 30:	Amount (In thousands)
2026	$	53,182
2027	47,113
2028	28,659
2029	24,033
2030	21,503
2031 and thereafter	59,562
Total lease payments	234,052
Less imputed interest	(30,027)
Total	$	204,025

As of June 30, 2025, we did not have any material leases that had not yet commenced.