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LEASES | 12 Months Ended
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Jun. 30, 2020
Leases [Abstract] |
LEASES | LEASES The Company leases various property, plant and equipment, including office, warehousing, manufacturing and research and development facilities and equipment. These leases have remaining lease terms of up to 11 years, inclusive of renewal or termination options that the Company is reasonably certain to exercise. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Supplemental balance sheet information related to the Company’s leases was as follows:
| Balance sheet classification | As of 6/30/2020
Operating leases |  |
Right-of-use assets | Operating lease right-of-use assets | $ | 291 |
Current lease liabilities | Current operating lease liabilities | 64 |
Non-current lease liabilities | Long-term operating lease liabilities | 278 |
Total operating lease liabilities |  | $ | 342 |
Finance leases |  |
Right-of-use assets | Other assets | $ | 14 |
Current lease liabilities | Accounts payable and accrued liabilities | 2 |
Non-current lease liabilities | Other liabilities | 12 |
Total finance lease liabilities |  | $ | 14 |
Components of lease cost were as follows:
|  | Twelve Months Ended
|  | 6/30/2020
Operating lease cost |  | 73 |
Finance lease cost: |  |
Amortization of right-of-use assets |  | 4 |
Interest on lease liabilities |  | — |
Total finance lease cost |  | 4 |
Variable lease cost |  | 39 |
Short term lease cost |  | 1 |
Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows:
| Twelve Months Ended
| 6/30/2020
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases, net | $ | 54 |
Operating cash flows from finance leases | — |
Financing cash flows from finance leases | 2 |
Right-of-use assets obtained in exchange for lease obligations: |
Operating leases | $ | 38 |
Finance leases | 8 |
Weighted-average remaining lease term and discount rate for the Company’s leases were as follows:
| As of 6/30/2020
Weighted-average remaining lease term: |
Operating leases | 7 years
Finance leases | 7 years
Weighted-average discount rate: |
Operating leases | 2.49 | %
Finance leases | 3.20 | %
Maturities of lease liabilities by fiscal year for the Company’s leases as of June 30, 2020 were as follows:
Year | Operating leases |  | Finance leases
2021 | $ | 70 |  |  | 3 |
2022 | 56 |  |  | 2 |
2023 | 49 |  |  | 2 |
2024 | 42 |  |  | 2 |
2025 | 36 |  |  | 2 |
Thereafter | 122 |  |  | 5 |
Total lease payments | $ | 375 |  |  | $ | 16 |
Less: Imputed interest | (33) |  |  | (2) |
Total lease liabilities | $ | 342 |  |  | $ | 14 |
The future minimum annual lease payments required under the Company’s existing non-cancelable operating and capital lease agreements as of June 30, 2019 prior to the adoption of ASC 842, were as follows:
Year | Operating leases |  | Capital leases
2020 | $ | 71 |  |  | $ | 2 |
2021 | 65 |  |  | 2 |
2022 | 50 |  |  | 1 |
2023 | 42 |  |  | 1 |
2024 | 37 |  |  | 1 |
Thereafter | 124 |  |  | 2 |
Total lease payments | $ | 389 |  |  | $ | 9 |
Rent expense under operating leases under ASC 840 amounted to $72 and $86 for the years ended June 30, 2019 and 2018, respectively.
LEASES | LEASES The Company leases various property, plant and equipment, including office, warehousing, manufacturing and research and development facilities and equipment. These leases have remaining lease terms of up to 11 years, inclusive of renewal or termination options that the Company is reasonably certain to exercise. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Supplemental balance sheet information related to the Company’s leases was as follows:
| Balance sheet classification | As of 6/30/2020
Operating leases |  |
Right-of-use assets | Operating lease right-of-use assets | $ | 291 |
Current lease liabilities | Current operating lease liabilities | 64 |
Non-current lease liabilities | Long-term operating lease liabilities | 278 |
Total operating lease liabilities |  | $ | 342 |
Finance leases |  |
Right-of-use assets | Other assets | $ | 14 |
Current lease liabilities | Accounts payable and accrued liabilities | 2 |
Non-current lease liabilities | Other liabilities | 12 |
Total finance lease liabilities |  | $ | 14 |
Components of lease cost were as follows:
|  | Twelve Months Ended
|  | 6/30/2020
Operating lease cost |  | 73 |
Finance lease cost: |  |
Amortization of right-of-use assets |  | 4 |
Interest on lease liabilities |  | — |
Total finance lease cost |  | 4 |
Variable lease cost |  | 39 |
Short term lease cost |  | 1 |
Supplemental cash flow information and non-cash activity related to the Company’s leases were as follows:
| Twelve Months Ended
| 6/30/2020
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases, net | $ | 54 |
Operating cash flows from finance leases | — |
Financing cash flows from finance leases | 2 |
Right-of-use assets obtained in exchange for lease obligations: |
Operating leases | $ | 38 |
Finance leases | 8 |
Weighted-average remaining lease term and discount rate for the Company’s leases were as follows:
| As of 6/30/2020
Weighted-average remaining lease term: |
Operating leases | 7 years
Finance leases | 7 years
Weighted-average discount rate: |
Operating leases | 2.49 | %
Finance leases | 3.20 | %
Maturities of lease liabilities by fiscal year for the Company’s leases as of June 30, 2020 were as follows:
Year | Operating leases |  | Finance leases
2021 | $ | 70 |  |  | 3 |
2022 | 56 |  |  | 2 |
2023 | 49 |  |  | 2 |
2024 | 42 |  |  | 2 |
2025 | 36 |  |  | 2 |
Thereafter | 122 |  |  | 5 |
Total lease payments | $ | 375 |  |  | $ | 16 |
Less: Imputed interest | (33) |  |  | (2) |
Total lease liabilities | $ | 342 |  |  | $ | 14 |
The future minimum annual lease payments required under the Company’s existing non-cancelable operating and capital lease agreements as of June 30, 2019 prior to the adoption of ASC 842, were as follows:
Year | Operating leases |  | Capital leases
2020 | $ | 71 |  |  | $ | 2 |
2021 | 65 |  |  | 2 |
2022 | 50 |  |  | 1 |
2023 | 42 |  |  | 1 |
2024 | 37 |  |  | 1 |
Thereafter | 124 |  |  | 2 |
Total lease payments | $ | 389 |  |  | $ | 9 |
Rent expense under operating leases under ASC 840 amounted to $72 and $86 for the years ended June 30, 2019 and 2018, respectively.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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