Leases (Tables)

6 Months Ended

Dec. 31, 2021

Leases [Abstract]

Components of lease expense

The components of our lease expenses are as follows:

	Three Months Ended				Six Months Ended
	December 31				December 31
(Amounts in Millions)	2021		2020		2021		2020
Operating lease expense	$	1.2	$	1.0	$	2.4	$	1.8
Variable lease expense	0.3		0.6		1.7		1.3
Total lease expense	$	1.5	$	1.6	$	4.1	$	3.1

Supplemental cash flow and other information related to leases

Supplemental cash flow and other information related to leases are as follows:

	Six Months Ended
	December 31
(Amounts in Millions)	2021			2020
Cash flow information:
Operating lease payments impacting lease liability	$	3.4		$	2.5
Non-cash impact of obtaining new right-of-use assets	$	0.8		$	5.1
	As of
	December 31
	2021			2020
Other information:
Weighted-average remaining term (in years)	4.0			4.6
Weighted-average discount rate	4.7		%	4.5		%

Future minimum lease payments

The following table summarizes the future minimum lease payments as of December 31, 2021:

	Fiscal Year Ended
(Amounts in Millions)	June 30 (1)
2022	$	3.2
2023	5.7
2024	3.6
2025	2.9
2026	1.9
Thereafter	1.1
Total lease payments	$	18.4
Less interest	1.4
Present value of lease liabilities	$	17.0

(1) Lease payments include options to extend lease terms that are reasonably certain of being exercised. The payments exclude legally binding minimum lease payments for leases signed but not yet commenced. At December 31, 2021, we had additional operating leases that have not yet commenced. The first lease, related to a new showroom location, is expected to commence in our third quarter of fiscal year 2022 with a lease term of approximately five years and we will record both a right-of-use asset and lease liability of $0.6 million. The second lease, related to expanded showroom and office space, is expected to commence in our third quarter of fiscal year 2022 with a lease term of approximately eight years and we will record both a right-of-use asset and lease liability of $4.7 million. The third lease, related to additional office space, is expected to commence in our third quarter of fiscal year 2022 with a lease term of approximately three years and we will record both a right-of-use asset and lease liability of $0.2 million. The fourth lease, related to office space in China is expected to commence in our third quarter of fiscal year 2022 with a lease term of approximately three years and we will record both a right-of-use asset and lease liability of $0.1 million.