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Leases
6 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Leases

12.

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):

 

 

 

December 31,

2019

 

Operating lease right-of-use assets

 

$

347,515

 

 

 

 

 

 

Operating lease liabilities, current

 

 

66,692

 

Operating lease liabilities, noncurrent

 

 

325,883

 

 

 

$

392,575

 

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):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2019

 

 

December 31, 2019

 

Operating lease cost

 

$

21,382

 

 

$

42,588

 

Short-term and variable lease cost

 

 

3,623

 

 

 

6,993

 

Sublease income

 

 

(438

)

 

 

(902

)

Total lease cost

 

$

24,567

 

 

$

48,679

 

 

The Company’s future minimum lease payments under non-cancelable operating leases for the remainder of the fiscal year ending June 30, 2020, and for each of the fiscal years thereafter, are as follows (in thousands):  

 

Fiscal year ending June 30,

 

 

 

 

2020 (six months)

 

$

36,834

 

2021

 

 

81,978

 

2022

 

 

69,921

 

2023

 

 

60,464

 

2024

 

 

49,391

 

Thereafter

 

 

140,656

 

Total undiscounted lease payments

 

 

439,244

 

Less:  imputed interest

 

 

(46,669

)

Total discounted lease liabilities

 

$

392,575

 

The weighted-average remaining lease term (in years) and weighted-average discount rate was 6.45 years and 3.35 percent, respectively.

Cash paid for operating leases was $44.4 million for the six months ended December 31, 2019.  During the six months ended December 31, 2019 operating lease liabilities arising from obtaining new ROU assets was $28.6 million, which includes all noncash changes arising from new or remeasured operating lease arrangements.