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Leases | 12 Months Ended
--- | ---
Jun. 30, 2024
Leases |
Leases |
9. |  | Leases
In general, our leases include office buildings for various facilities worldwide which are all classified as operating leases. We also have financing leases related to some office equipment in the U.S. The following presents components of lease expense and supplemental cash flow information:
Schedule of components of lease expense |  |  |  |  |  |  |  |
|  | Years Ended June 30, |
|  | 2024 |  |  | 2023 |
|  | (In thousands) |
Components of lease expense |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 2,465 |  |  | $ | 2,583 |
Financing lease cost |  |  | 110 |  |  |  | 30 |
Financing lease interest expense |  |  | 39 |  |  |  | 10 |
Supplemental cash flow information |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 1,772 |  |  | $ | 1,701 |
Cash paid for amounts included in the measurement of financing lease liabilities |  | $ | 222 |  |  | $ | 30 |
Right-of-use assets obtained in exchange for lease obligation |  | $ | – |  |  | $ | 4,856 |
As of June 30, 2024 and 2023, the weighted average discount rate for leases was 4.6% and 4.6%, respectively, and the weighted average remaining lease term for leases was 3.4 years and 3.8 years, respectively. Maturities of lease liabilities as of June 30, 2024 were as follows:
Schedule of maturities of lease liabilities |  |  |  |  |  |  |  |
Years ending June 30, |  | Operating |  |  | Financing |
|  | (In thousands) |
2025 |  | $ | 2,056 |  |  |  | 213 |
2026 |  |  | 1,693 |  |  |  | 117 |
2027 |  |  | 1,648 |  |  |  | 22 |
2028 |  |  | 1,698 |  |  |  | 19 |
2029 |  |  | 1,527 |  |  |  | – |
Thereafter |  |  | 2,952 |  |  |  | – |
Total remaining lease payments |  |  | 11,574 |  |  |  | 371 |
less: imputed interest |  |  | (1,571 | ) |  |  | (45 | )
Lease liability |  | $ | 10,003 |  |  | $ | 326 |
Reported as: |  |  |  |  |  |  |  |
Current liabilities |  | $ | 1,580 |  |  | $ | 187 |
Non-current liabilities |  | $ | 8,423 |  |  | $ | 139 |

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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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