Leases

12 Months Ended

Jun. 30, 2024

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,
	2024		2023
Operating lease right-of-use assets	$	305,637	$	312,989
Operating lease liabilities, current	51,223		46,260
Operating lease liabilities, noncurrent	325,046		329,432
	$	376,269	$	375,692

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,
	2024		2023		2022
Operating lease cost	$	82,441	$	80,057	$	80,748
Short-term and variable lease cost	17,390		16,287		15,567
Sublease income	(366)		(344)		(404)
Total lease cost	$	99,465	$	96,000	$	95,911

The Company’s future minimum lease payments under non-cancelable operating leases as of June 30, 2024 are as follows (in thousands):

Fiscal Year Ending June 30:
2025	$	64,565
2026	82,663
2027	73,338
2028	57,016
2029	44,930
Thereafter	107,251
Total undiscounted lease payments	429,763
Less: imputed interest	(53,494)
Total discounted lease liabilities	$	376,269

The weighted-average remaining lease terms as of June 30, 2024 and 2023 were 6.22 years and 6.44 years and the weighted-average discount rates were 3.91% and 3.42%, respectively.

Cash paid for operating leases was $88.0 million, $86.1 million, and $85.2 million in fiscal 2024, 2023, and 2022, respectively. Operating lease liabilities arising from obtaining new ROU assets was $61.3 million, $64.5 million and $30.9 million in fiscal 2024, 2023, and 2022, respectively, which includes all noncash changes arising from new or remeasured operating lease arrangements.