Leases

The Company determines if a contract is or contains a lease at inception. The Company leases certain office, manufacturing, and warehouse facilities under operating leases, in addition to land on which certain office and manufacturing facilities reside. These operating leases expire from fiscal year 2020 to 2057. The Company has a minimal number of finance leases with an immaterial impact on its Consolidated Financial Statements.

Operating lease costs in fiscal year 2020 were $1.2 million, including short-term and variable lease costs. Cash payments for operating leases included in the measurement of lease liabilities in fiscal year 2020 were $0.8 million, which is included in Cash Flows from Operating Activities in the Consolidated Statement of Cash Flows.

The lease assets and liabilities, which exclude leases with terms of 12 months or less, as of June 30, 2020, were as follows:



(Amounts in Thousands)
Operating lease right-of-use assets (included in Other Assets)	$	2,025
Operating lease liability, current (included in Accrued expenses)	$	817
Operating lease liability, noncurrent (included in Other long-term liabilities)	$	1,208
Weighted average remaining lease term in years - operating leases	4.7
Weighted average discount rate - operating leases	3.3		%

Future lease payments as of June 30, 2020 are as follows:



(Amounts in Thousands)
2021	$	832
2022	655
2023	95
2024	95
2025	95
Thereafter	380
Total undiscounted lease payments	$	2,152
Less: imputed interest	127
Total lease liabilities	$	2,025

As reported under the previous lease accounting standard, the total rental expense amounted to $1.1 million and $0.7 million in fiscal years 2019 and 2018, respectively, and the aggregate future minimum rental payments on our operating leases, as of June 30, 2019, were, in millions, $0.8, $0.7, $0.6, $0.1, and $0.1 for the five years ending June 30, 2024, respectively, and $0.5 million thereafter. As of June 30, 2019, capital leases were immaterial.