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Leases | 6. Leases The Company has entered into various operating lease agreements for certain of its offices, manufacturing facilities and equipment, and finance lease agreements for certain equipment. These leases have original lease periods expiring between fiscal years 2024 and 2029. Most leases include one or more options to renew, and the exercise of a lease renewal option typically occurs at the discretion of both parties. Certain leases also include options to purchase the leased property. The Company’s lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. In May 2023, the Company entered into a lease agreement to relocate its principal office. The space was made available to the Company in September 2023 (lease commencement) with an initial term of and a half years. The Company recorded an operating lease right-of-use (“ROU”) asset of $0.7 million and a lease liability of $0.7 million at lease commencement. The ROU asset and lease liability were recorded at present value using an incremental borrowing rate of 10.3%. The Company had elected the practical expedient to not separate lease and non-lease components.The components of lease expenses are as follows:
Supplemental balance sheet information related to leases is as follows:
* Includes $0.2 million from the Consumer Health Segment as of September 30, 2023 and June 30, 2023.
Remaining lease term and discount rate used are as follows:
Supplemental cash flow information related to lease is as follows:
As of September 30, 2023, the maturities of the Company’s future minimum lease payments were as follows:
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