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Leases
3 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Leases

8. Leases

Our leases mainly include our worldwide office and research and development facilities which are all classified as operating leases. Certain leases include renewal options that are under our discretion. The leases expire at various dates through fiscal year 2026, some of which include options to extend the lease for up to 5 years. For the quarter ended September 30, 2019, the Company recorded approximately $2.3 million of operating lease expense. Our short-term leases are immaterial and we do not have finance leases.

As of  September 30, 2019, the components of leases and lease costs are as follows (in millions):

 

 

 

September 30,

 

 

 

2019

 

Operating lease right-of-use assets

 

$

25.8

 

Operating lease liabilities

 

$

8.4

 

Operating lease liabilities, long-term

 

 

17.8

 

Total operating lease liabilities

 

$

26.2

 

 

Supplemental cash flow information related to leases is as follows (in millions):

 

 

 

Three Months Ended

 

 

 

September 30,

 

 

 

2019

 

Cash paid for operating leases included in operating

   cash flows

 

$

2.3

 

Supplemental non-cash information related to lease

   liabilities arising from obtaining right-of-use assets

 

 

2.0

 

As of September 30, 2019, the weighted average remaining lease term is 3.8 years, and the weighted average discount rate is 4.21%.  

Future minimum lease payments for the operating lease liabilities are as follows (in millions):

 

 

 

Operating

 

 

 

Lease

 

Fiscal Year

 

Payments

 

Remainder of 2020

 

$

7.0

 

2021

 

 

8.5

 

2022

 

 

5.7

 

2023

 

 

3.4

 

2024

 

 

2.0

 

Thereafter

 

 

1.7

 

Total future minimum operating lease payments

 

 

28.3

 

Less: interest

 

 

(2.1

)

Total lease liabilities

 

$

26.2

 

 

As of the beginning of our fiscal quarter ended September 30, 2019, our aggregate minimum rental commitments for future fiscal years for non-cancelable operating leases with initial or remaining terms in excess of one year were as follows (in millions):

 

 

 

Operating

 

 

 

Lease

 

Fiscal Year

 

Payments

 

2020

 

$

7.4

 

2021

 

 

3.2

 

2022

 

 

0.9

 

2023

 

 

0.3

 

2024

 

 

0.1

 

Total future minimum operating lease payments

 

$

11.9