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Leases
 12 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Leases of Lessee Disclosure LEASES
The Company’s operating lease expense is recognized on a straight-line basis over the lease term and is recorded in selling, distribution and administrative expense on the statements of consolidated income. Operating lease costs and short-term lease costs were $31,778 and $9,929, respectively, for the year ended June 30, 2021 and $33,152 and $10,581,respectively, for the year ended June 30, 2020. Variable lease costs and sublease income were not material.
Information related to operating leases is as follows:
June 30,20212020
Operating lease assets, net$87,111 $90,636 
Operating lease liabilities
Other current liabilities$27,359 $27,231 
Other liabilities64,248 67,926 
Total operating lease liabilities$91,607 $95,157 
June 30,20212020
Weighted average remaining lease term (years)5.63.6
Weighted average incremental borrowing rate3.26 %3.45 %
Year Ended June 30,20212020
Cash paid for operating leases
$33,695 $34,642 
Right of use assets obtained in exchange for new operating lease liabilities$25,556 $39,136 
The table below summarizes the aggregate maturities of liabilities pertaining to operating leases with terms greater than one year for each of the next five years:
Fiscal YearMaturity of Operating Lease Liabilities
2022$29,853 
202322,982 
202417,896 
202510,462 
20266,547 
Thereafter11,410 
Total lease payments99,150 
Less interest7,543 
Present value of lease liabilities$91,607 

The Company maintains lease agreements for many of the operating facilities of businesses it acquires from previous owners. In many cases, the previous owners of the business acquired become employees of Applied and occupy management positions within those businesses. The payments under lease agreements of this nature totaled $2,100 in 2021, $2,500 in 2020, and $2,400 in 2019.