Leases

12 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases

Leases

All of the Company’s leases are operating leases. The current portion of operating lease liabilities is included in other accrued expenses and current liabilities in our consolidated balance sheets. Lease balances in our consolidated balance sheet are as follows (in thousands):

	June 30,
	2023		2022
Operating lease right-of-use assets	$	312,989	$	317,359
Operating lease liabilities, current	46,260		67,256
Operating lease liabilities, noncurrent	329,432		315,315
	$	375,692	$	382,571

The Company’s total lease cost is recorded primarily within indirect costs and selling expenses and had the following impact on the consolidated statement of operations (in thousands):

	Year Ended June 30,
	2023		2022		2021
Operating lease cost	$	80,057	$	80,748	$	89,254
Short-term and variable lease cost	16,287		15,567		15,160
Sublease income	(344)		(404)		(379)
Total lease cost	$	96,000	$	95,911	$	104,035

The Company’s future minimum lease payments under non-cancelable operating leases as of June 30, 2023 are as follows (in thousands):

Fiscal Year Ending June 30:
2024	$	58,209
2025	75,559
2026	70,892
2027	61,094
2028	44,791
Thereafter	113,272
Total undiscounted lease payments	423,817
Less: imputed interest	(48,125)
Total discounted lease liabilities	$	375,692

The weighted-average remaining lease terms as of June 30, 2023 and 2022 were 6.44 years and 6.16 years and the weighted-average discount rates were 3.42% and 2.72%, respectively.

Cash paid for operating leases was $86.1 million, $85.2 million, and $85.2 million in fiscal 2023, 2022, and 2021, respectively. Operating lease liabilities arising from obtaining new ROU assets was $64.5 million, $30.9 million and $102.8 million in fiscal 2023, 2022, and 2021, respectively, which includes all noncash changes arising from new or remeasured operating lease arrangements.