The Company leases certain office spaces and research and development laboratory facilities, vehicles, and office equipment with remaining lease terms ranging from one to seven years. These leases require monthly lease payments that may be subject to annual increases throughout the lease term. Certain of these leases also include renewal options which allows the Company to, at its election, renew or extend the lease for a fixed or indefinite period of time. These optional periods have not been considered in the determination of the right-of-use-assets or lease liabilities associated with these leases as the Company did not consider it reasonably certain it would exercise the options.

The Company performed evaluations of its contracts and determined each of its identified leases are operating leases. For the fiscal year ended June 30, 2020, the Company incurred $18.4 in lease costs which are included in operating expenses in the consolidated statement of operations in relation to these operating leases. Of such lease costs, $2.6 was variable lease expense and $0.2 was short-term lease expense, neither of which were included in the measurement of the Company's operating ROU assets and lease liabilities. The variable rent expense is comprised primarily of the Company's proportionate share of operating expenses, property taxes, and insurance and is classified as lease expense due to the Company's election to not separate lease and non-lease components.

As of June 30, 2020, the maturities of the Company’s operating lease liabilities were as follows:

Fiscal year ending:
2021	$	15.9
2022		14.8
2023		13.6
2024		13.2
2025		10.9
Thereafter		9.6
Total future lease payments		78.0
Less: amounts representing interest		(7.6	)
Present value of future lease payments		70.4
Less: current maturities of operating lease liabilities		13.5
Noncurrent operating lease liabilities	$	56.9

As of June 30, 2020, the weighted average remaining lease term is 5.3 years and the weighted average discount rate used to determine the operating lease liability was 3.87%.

The total rent expense of the Company for the fiscal years ended June 30, 2019 and 2018 was $19.7 and $15.5, respectively. Future minimum lease payments required under noncancelable operating leases that have initial or remaining noncancelable lease term in excess of one year at June 30, 2019 are as follows:

Fiscal year ending:
2020	$	15.1
2021		14.1
2022		13.1
2023		12.2
2024		11.9
Thereafter		19.1
	$	85.5