Leases

9 Months Ended

Mar. 26, 2022

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 2029, some of which include options to extend the lease for up to 5 years. For the nine months ended March 26, 2022 and March 27, 2021, we recorded approximately $9.1 million and $7.5 million, respectively, of operating leases expense. Our short-term leases are immaterial.

As of March 26, 2022, and June 26, 2021, the components of leases are as follows (in millions):


	March		June
	2022		2021
Operating lease right-of-use assets	$	63.3	$	31.7
Operating lease liabilities	$	8.8	$	9.3
Operating lease liabilities, long-term		54.6		24.0
Total operating lease liabilities	$	63.4	$	33.3

Supplemental cash flow information related to leases, including from acquisitions, is as follows (in millions):


	Nine Months Ended
	March
	2022		2021
Cash paid for operating leases included in operating cash flows	$	9.1	$	7.3
Supplemental non-cash information related to lease liabilities arising from obtaining right-of-use assets		39.4		21.7

As of March 26, 2022, the weighted average remaining lease term is 8.1 years, and the weighted average discount rate is 4.1%.

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


	Operating
	Lease
Fiscal Year	Payments
Remainder of 2022	$	1.5
2023		10.0
2024		9.3
2025		9.4
2026		9.1
Thereafter		37.2
Total future minimum operating lease payments		76.5
Less: interest		(13.1	)
Total lease liabilities	$	63.4