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Leases | 12 Months Ended
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Jun. 30, 2021
Leases [Abstract] |
Leases | 7 . LEASES The Company has entered into leasing arrangements classified as operating leases under accounting guidance. These leasing arrangements relate primarily to the lease of its corporate head office, administration offices and branch locations through which the Company operates its financial services business in South Africa and, until its closure, its transaction processing activities in Malta. The Company’s operating leases have a remaining lease term of between one year to six years . The Company’s lease of property in Malta included five separate one year options to extend the lease, which effectively extended the lease term from three years to eight years . At lease inception, the Company expected to exercise these options and these options were included as part of its right-of-use assets and liabilities. The Company has exited this lease following the closure of its Malta operations during the year ended June 30, 2021. The Company also operates parts of its financial services business from locations which it leases for a period of less than one year . The Company’s operating lease expense during the years ended June 30, 2021 and 2020, was $ 4.1 million and $ 3.6 million, respectively. The Company does not have any significant leases that have not commenced as of June 30, 2021. The Company has entered into short-term leasing arrangements, primarily for the lease of branch locations and other locations to operate its financial services business in South Africa. The Company’s short-term lease expense during the years ended June 30, 2021 and 20 20 , was $ 4.1 million and $ 4.2 million , respectively . 7 . LEASES (continued) The following table presents supplemental balance sheet disclosure related to our right-of-use assets and our operating leases liabilities as of June 30, 2021 and 2020: June 30, June 30, 2021 2020 Right-of-use assets obtained in exchange for lease obligations Weighted average remaining lease term (years) 2.77 3.94 Weighted average discount rate 9.6 % 9.3 % Maturities of operating lease liabilities 2022 $ 3,117 2023 1,278 2024 592 2025 200 2026 - Thereafter - Total undiscounted operating lease liabilities 5,187 Less imputed interest 475 Total operating lease liabilities, included in 4,712 Operating lease right-of-use lease liability - current 2,822 Right-of-use operating lease liability - long-term $ 1,890 Operating lease payments related to premises and equipment were $ 10.6 million for the year ended June 30, 2019.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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