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Leases | 9 Months Ended
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Mar. 31, 2020
Leases |
Leases | 6.LEASES We lease our office facilities under non-cancelable operating leases that expire on various dates through fiscal year 2024. Additionally, we are the sublessor for certain office space. All of our office leases are classified as operating leases with lease expense recognized on a straight-line basis over the lease term. Lease right-of-use assets and liabilities are recognized at the commencement date at the present value of lease payments over the lease term. As our leases do not provide an implicit rate, we use our incremental borrowing rate based on information available at the commencement date in determining the present value of lease payments. The following tables present information about leases on our consolidated balance sheet (in thousands):
|  | As of March 31, 2020
Assets: |  |  |
Operating lease right-of-use assets |  | $ | 3,363
Liabilities: |  |  |
Operating lease liabilities |  |  | 1,726
Operating lease liabilities, net of current portion |  |  | 1,837
The following table presents information about the weighted average lease term and discount rate as follows:
|  | As of March 31, 2020 |
Weighted average remaining lease term (in years) |  |  | 2.23 |
Weighted average discount rate |  |  | 4.82 | %
The following table presents information about leases on our consolidated statement of operations (in thousands):
|  | Three Months Ended |  | Nine Months Ended
|  | March 31, 2020 |  | March 31, 2020
Operating lease expense |  | $ | 432 |  | $ | 1,292
Short-term lease expense |  |  | 4 |  |  | 12
Sublease income |  |  | 154 |  |  | 463
The following table presents supplemental cash flow information about our leases (in thousands):
|  | Three Months Ended |  | Nine Months Ended
|  | March 31, 2020 |  | March 31, 2020
Operating cash outflows from operating leases |  | $ | 457 |  | $ | 1,351
Right-of-use assets obtained in exchange for new operating lease liabilities |  |  | — |  |  | —
As of March 31, 2020, remaining maturities of lease liabilities are as follows (in thousands):
Fiscal Period: |  |  |
Remaining three months of fiscal year 2020 |  | $ | 460
Fiscal 2021 |  |  | 1,861
Fiscal 2022 |  |  | 1,165
Fiscal 2023 |  |  | 194
Fiscal 2024 |  |  | 65
Thereafter |  |  | —
Total minimum lease payments |  |  | 3,745
Less: Imputed interest |  |  | (182)
Total |  | $ | 3,563

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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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