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v3.23.3

Leases | 3 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Leases | Note 4. Leases The Company has operating leases for corporate offices and warehouse facilities worldwide. Additionally, the Company leases cars, copy machines and laptops that are considered operating leases. Some of the Company’s leases are non-cancellable operating lease agreements with various expiration dates through June 2035. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore, are not factored into the determination of lease payments. Operating lease costs were $2.6 million and $2.3 million during the three months ended September 30, 2023 and 2022, respectively, not including short-term operating lease costs of $0.1 million and $0.1 million, respectively. Cash paid for amounts included in the measurement of operating lease liabilities was $2.5 million and $2.2 million during the three months ended September 30, 2023 and 2022, respectively. Operating lease right-of-use assets and operating lease liabilities consisted of the following (in thousands):
|  | September 30, 2023 |  |  | June 30, 2023 |
Operating lease right-of-use assets |  |  |  |  |  |
Balance at the beginning of period |  | $ | 25,853 |  |  | $ | 16,798 |
Lease assets added |  |  | 462 |  |  |  | 17,157 |
Amortization for the year |  |  | (1,937 | ) |  |  | (8,102 | )
Balance at the end of period |  | $ | 24,378 |  |  | $ | 25,853 |
Operating lease liabilities |  |  |  |  |  |
Balance at the beginning of period |  | $ | 27,753 |  |  | $ | 19,020 |
Lease liabilities added |  |  | 2,926 |  |  |  | 16,834 |
Repayment and interest accretion |  |  | (1,796 | ) |  |  | (8,101 | )
Balance at the end of period |  | $ | 28,883 |  |  | $ | 27,753 |
Current portion of operating lease liabilities |  | $ | 6,077 |  |  | $ | 4,151 |
Non-current portion of operating lease liabilities |  |  | 22,806 |  |  |  | 23,602 |
Maturities of operating lease liabilities as of September 30, 2023, are presented in the table below (dollars in thousands):
|  | Amount |
2024 (remaining nine months) |  | $ | 4,342 |
2025 |  |  | 5,757 |
2026 |  |  | 3,762 |
2027 |  |  | 3,654 |
2028 |  |  | 3,349 |
Thereafter |  |  | 23,306 |
Total operating lease payments |  |  | 44,170 |
Less: imputed interest |  |  | (15,287 | )
Present value of operating lease liabilities |  | $ | 28,883 |
Weighted average remaining lease term (in years) |  |  | 9.1 |
Weighted average discount rate |  |  | 9.7 | %

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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