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Leases
3 Months Ended
Sep. 30, 2019
Leases  
Leases

7.  Leases

Our lease portfolio consists of real estate, vehicles and equipment ROU assets, classified as operating leases. As of September 30, 2019, the remaining non-cancelable lease terms, inclusive of renewal options reasonably certain of exercise, range from one to 20 years.

The following table summarizes the ROU assets and the related lease liabilities recorded on the consolidated balance sheet: 

 

 

 

 

 

 

 

    

September 30,

    

 

As of

 

2019

 

Balance Sheet Classification

Assets:

 

 

  

 

  

Operating lease ROU assets

 

$

20,830

 

Other Assets

 

 

 

 

 

 

Liabilities:

 

 

  

 

  

Current portion

 

 

6,267

 

Accrued expenses and other current liabilities

Non-current portion

 

 

15,546

 

Other liabilities

Total operating lease liabilities

 

$

21,813

 

  

 

The following table summarizes the composition of net lease cost:

 

 

 

 

 

    

Three months

For the Period Ended September 30

 

2019

 

 

 

 

Operating lease expense

 

$

1,851

Variable lease expense

 

 

324

Short-term lease expense

 

 

203

Total lease cost

 

$

2,378

 

The following tables include other supplemental information:

 

 

 

 

 

    

Three months

For the Period Ended September 30

 

2019

Operating cash flows used for ROU operating leases

 

$

1,677

Right of use assets obtained in exchange for new operating lease liabilities (non-cash)

 

$

3,790

 

 

 

 

 

 

    

As of

 

 

 

September 30, 2019

 

Weighted average remaining lease term (in years) - ROU operating leases

 

6.36

 

Weighted average discount rate - ROU operating leases

 

4.13

%

 

At September 30, 2019, maturities of future lease liabilities are:

 

 

 

 

 

For the Years Ending June 30

    

  

 

2020

 

$

5,450

2021

 

 

5,856

2022

 

 

4,382

2023

 

 

2,258

2024

 

 

1,786

2025 and thereafter

 

 

5,473

Total lease payments

 

 

25,205

Less: interest

 

 

3,392

Total operating lease liabilities

 

$

21,813

 

There were no significant future payment obligations related to executed lease agreements for which the related lease had not yet commenced as of September 30, 2019. Our lease agreements do not contain any material restrictive covenants or residual value guarantee provisions.   

Future minimum lease payments for operating leases accounted for under ASC 840, "Leases," with remaining non-cancelable terms in excess of one year at June 30, 2019 were:

 

 

 

 

For the Years Ending June 30

    

 

  

2020

 

$

5,815

2021

 

 

4,160

2022

 

 

3,191

2023

 

 

1,445

2024

 

 

865

Thereafter

 

 

765

Total minimum lease payments

 

$

16,241