Leases

9 Months Ended

Mar. 31, 2021

The Company records leases on the Consolidated Balance Sheets as operating lease right-of-use (“ROU”) assets, records the current portion of operating lease liabilities within accrued expenses and other current liabilities and, separately, records long-term operating lease liabilities. The difference between total ROU assets and total lease liabilities are primarily attributable to pre-payments of our obligations and the recognition of various lease incentives.

The Company has entered into operating lease agreements for facilities and equipment. The Company's leases have remaining lease terms of up to approximately eleven years.

The components of operating lease expense were as follows:


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2021		2020		2021		2020
Operating lease cost	$	39.5	$	34.8	$	118.6	$	121.3
Short-term lease cost	0.3		1.6		1.0		5.6
Variable lease cost	2.5		2.9		6.8		4.9
Total operating lease cost	$	42.3	$	39.3	$	126.4	$	131.8

The following table provides supplemental cash flow information related to the Company's leases:


	Nine Months Ended
	March 31,
	2021		2020
Cash paid for operating lease liabilities	$	111.9	$	186.9
Operating lease ROU assets obtained in exchange for new operating lease liabilities	$	107.4	$	142.9

Other information related to our operating lease liabilities is as follows:


	March 31,			June 30,
	2021			2020
Weighted-average remaining lease term (in years)	6			6
Weighted-average discount rate	2.1		%	2.3		%
Current operating lease liability	$	96.2		$	95.5

As of March 31, 2021, maturities of operating lease liabilities are as follows:


Three months ending June 30, 2021	$	26.2
Twelve months ending June 30, 2022	103.0
Twelve months ending June 30, 2023	90.5
Twelve months ending June 30, 2024	69.3
Twelve months ending June 30, 2025	53.0
Thereafter	144.1
Total undiscounted lease obligations	486.1
Less: Imputed interest	(29.0)
Net lease obligations	$	457.1