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LEASES (Tables)
 12 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Schedule of Assets And Liabilities, Lessee
The following illustrates the Consolidated Balance Sheets information related to leases:
As of June 30, 2023As of June 30, 2022
Operating LeasesBalance Sheet Location
Operating lease right of use assetsOperating lease right of use assets$285,723 $198,132 
Operating lease liabilities (current)Operating lease liabilities$91,425 $56,380 
Operating lease liabilities (noncurrent)Long-term operating lease liabilities271,579 198,695 
Total operating lease liabilities$363,004 $255,075 
Finance Leases
Finance lease receivables (current)Prepaid expenses and other current assets$6,362 $— 
Finance lease receivables (noncurrent)Other assets5,515 — 
Total finance lease receivables$11,877 $— 
Finance lease liabilities (current)Accounts payable and accrued liabilities$5,281 $— 
Finance lease liabilities (noncurrent)Accrued liabilities5,500 — 
Total finance lease liabilities$10,781 $— 
Schedule of Lease Costs and Other Information
The weighted average remaining lease term and discount rate for the periods indicated below were as follows:
As of June 30, 2023As of June 30, 2022
Weighted-average remaining lease term
Operating leases5.62 years6.13 years
Finance leases2.40 years0 years
Weighted-average discount rate
Operating leases4.66 %2.95 %
Finance leases5.60 %— %
The following illustrates the various components of lease costs for the period indicated:
Year Ended June 30,
202320222021
Operating lease cost$72,977 $62,401 $63,068 
Short-term lease cost4,195 687 881 
Variable lease cost3,488 2,694 2,754 
Sublease income(12,518)(10,008)(6,469)
Total lease cost$68,142 $55,774 $60,234 
The following table presents supplemental information relating to cash flows arising from lease transactions. Cash payments made for variable lease costs and short-term leases are not included in the measurement of lease liabilities, and, as such, are excluded from the amounts below:
Year Ended June 30,
202320222021
Cash paid for amounts included in the measurement of lease liabilities:
Operating leases$93,556 $70,611 $72,871 
Finance leases$2,473 $— $— 
Right of use assets obtained in exchange for new lease liabilities:
Operating leases (1) (2) (3)
$29,551 $39,155 $82,718 
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(1)The year ended June 30, 2023 excludes the impact of $129.7 million of right of use assets obtained through the Micro Focus Acquisition. See Note 19 “Acquisitions” for further details including the finalization of the purchase price allocation for the Micro Focus Acquisition.
(2)The year ended June 30, 2022 excludes the impact of $8.1 million of right of use assets obtained through the acquisition of Zix Corporation. See Note 19 “Acquisitions” for further details including expected finalization of preliminary purchase price allocation.
(3)The year ended June 30, 2021 excludes the release of $22.6 million of lease liabilities relating to office space that was abandoned during the fourth quarter of Fiscal 2020 and was subsequently early terminated or assigned to a third party. These recoveries were recorded in “Special charges (recoveries)” in the Consolidated Statements of Income. Please see Note 18 “Special Charges (Recoveries).”
Schedule of Maturity of Lease Liabilities
The following table presents the future minimum lease payments under our lease liabilities as of June 30, 2023:
Fiscal years ending June 30,Operating LeasesFinance Leases
2024$105,685 $5,712 
202583,123 3,370 
202660,939 1,941 
202750,605 459 
202839,662 — 
Thereafter71,380 — 
Total lease payments$411,394 $11,482 
Less: Imputed interest(48,390)(701)
Total$363,004 $10,781