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Leases (Tables)

9 Months Ended

Mar. 31, 2021

The following table presents amounts recorded on the Condensed Consolidated Balance Sheet related to operating leases at March 31, 2021 and June 30, 2020:


Operating leases	Balance Sheet location	March 31, 2021		June 30, 2020
		(in thousands)
Operating lease right-of-use assets	Other non-current assets	$	20,265	$	23,581
Current operating lease liabilities	Accrued expenses and other current liabilities	4,283		4,476
Long-term operating lease liabilities	Other long-term liabilities	17,598		20,760

Lease, Cost

The following table presents amounts recorded in operating lease expense as part of selling general and administrative expenses on the Condensed Consolidated Income Statements during the quarters and nine months ended March 31, 2021 and 2020. Operating lease costs contain immaterial amounts of short-term lease costs for leases with an initial term of 12 months or less.


	Quarter ended March 31,				Nine months ended March 31,
	2021		2020		2021		2020
	(in thousands)				(in thousands)
Operating lease cost	$	1,277	$	1,521	$	3,964	$	4,685
Variable lease cost	297		389		880		919
	$	1,574	$	1,910	$	4,844	$	5,604

Supplemental cash flow information related to the Company's operating leases for the quarter and nine months ended March 31, 2021 and 2020 are presented in the table below:


	Nine months ended
	March 31,
		2021		2020
	(in thousands)
Cash paid for amounts in the measurement of lease liabilities		$	4,116	$	4,351
Right-of-use assets obtained in exchange for lease obligations		—		1,672

The weighted-average remaining lease term and discount rate at March 31, 2021 are presented in the table below:


	March 31, 2021
Weighted-average remaining lease term	5.42 years
Weighted-average discount rate	4.1	%

Lessee, Operating Lease, Liability, Maturity

The following table presents the maturities of the Company's operating lease liabilities at March 31, 2021:


	Operating leases
	(in thousands)
Remainder of 2021	$	1,329
2022	4,992
2023	4,658
2024	4,158
2025	3,256
Thereafter	5,990
Total future payments	24,383
Less: amounts representing interest	2,502
Present value of lease payments	$	21,881