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LEASES | 12 Months Ended
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Jun. 30, 2020
Leases [Abstract] |
LEASES | NOTE 16. LEASES All of the Company’s leases are operating leases. The current portion of operating lease liabilities is included in other accrued expenses and current liabilities in our consolidated balance sheets. Lease balances in our consolidated balance sheet are as follows (in thousands):
|  | June 30, |
|  | 2020 |
Operating lease right-of-use assets |  | $ | 330,767 |
Operating lease liabilities, current |  |  | 67,549 |
Operating lease liabilities, noncurrent |  |  | 309,680 |
|  | $ | 377,229 |
The Company’s total lease cost is recorded primarily within indirect costs and selling expenses and had the following impact on the consolidated statement of operations (in thousands):
|  | June 30, |
|  | 2020 |
Operating lease cost |  | $ | 86,039 |
Short-term and variable lease cost |  |  | 14,777 |
Sublease income |  |  | (1,201 | )
Total lease cost |  | $ | 99,615 |
The Company’s future minimum lease payments under non-cancelable operating leases at June 30, 2020 are as follows (in thousands):
Year ending June 30: |  |  |  |
2021 |  | $ | 78,302 |
2022 |  |  | 68,239 |
2023 |  |  | 62,529 |
2024 |  |  | 55,302 |
2025 |  |  | 47,430 |
Thereafter |  |  | 106,067 |
Total undiscounted lease payments |  |  | 417,869 |
Less: imputed interest |  |  | (40,640 | )
Total discounted lease liabilities |  | $ | 377,229 |
The weighted-average remaining lease term (in years) and weighted-average discount rate was 6.27 years and 3.14 percent, respectively. Cash paid for operating leases was $87.1 million for the year ended June 30, 2020. During the year ended June 30, 2020 operating lease liabilities arising from obtaining new ROU assets was $50.5 million, which includes all noncash changes arising from new or remeasured operating lease arrangements. During April 2020, the Company entered into a lease agreement that will impact its financial statements starting in Q2 FY2021. Annual lease cost is expected to be approximately $6.0 million over a lease term of 12 years. The Company’s future minimum lease payments under non-cancelable operating leases at June 30, 2019 are as follows (in thousands):
Year ending June 30: |  |  |  |
2020 |  | $ | 81,027 |
2021 |  |  | 72,331 |
2022 |  |  | 63,655 |
2023 |  |  | 54,056 |
2024 |  |  | 43,691 |
Thereafter |  |  | 132,792 |
Total minimum lease payments |  | $ | 447,552 |

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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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