Leases

6 Months Ended

Dec. 28, 2024

Our leases primarily include our worldwide office and research and development facilities which are all classified as operating leases. Certain leases include renewal options at our discretion. The leases expire at various dates through fiscal 2034, some of which include options to extend the lease for up to seven years. For the three months ended December 2024 and December 2023, we recorded operating lease expense of approximately $3.2 million and $2.9 million, respectively. For the six months ended December 2024 and December 2023, we recorded operating lease expense of approximately $6.4 million and $5.7 million, respectively. Our short-term leases are immaterial and we do not have finance leases.

As of December 2024 and June 2024, the components of leases are as follows (in millions):


	December		June
	2024		2024
Operating lease right-of-use assets	$	45.8	$	46.8
Operating lease liabilities	$	11.3	$	11.5
Operating lease liabilities, long-term	37.1		37.9
Total operating lease liabilities	$	48.4	$	49.4

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


	Six Months Ended
	December
	2024		2023
Cash paid for operating leases included in operating cash flows	$	6.8	$	5.1
Supplemental non-cash information related to lease liabilities arising from obtaining right-of-use assets	$	4.7	$	1.5

As of December 2024, the weighted average remaining lease term is 6.15 years, and the weighted average discount rate is 5.37%.

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


Fiscal Year	Operating Lease Payments
Remainder of 2025	$	7.5
2026	11.6
2027	8.8
2028	7.1
2029	6.3
Thereafter	15.2
Total future minimum operating lease payments	56.5
Less: interest	(8.1)
Total lease liabilities	$	48.4