We enter into operating leases, both domestically and internationally, for certain facilities, automobiles, data centers and equipment for use in the ordinary course of business. The duration of the majority of these leases generally ranges from 1 to 10 years, some of which include options to extend for an additional 3 to 5 years after the initial term. Additionally, the land upon which our headquarters in Waterloo, Ontario, Canada is located is leased from the University of Waterloo for a period of 49 years beginning in December 2005, with an option to renew for an additional term of 49 years. We also have finance lease liabilities comprised of equipment lease arrangements with an average duration of 4 to 5 years, all of which are currently being sublet. Leases with an initial term of 12 months or less are not recorded on our Condensed Consolidated Balance Sheets.


Operating Leases	Balance Sheet Location	As of March 31, 2024		As of June 30, 2023
Operating lease right of use assets (1)	Operating lease right of use assets	$	229,327	$	285,723

Operating lease liabilities (current) (1)	Operating lease liabilities	$	80,960	$	91,425
Operating lease liabilities (non-current) (1)	Long-term operating lease liabilities	224,984		271,579
Total operating lease liabilities		$	305,944	$	363,004

Finance Leases
Finance lease receivables (current)	Prepaid expenses and other current assets	$	4,255	$	6,362
Finance lease receivables (non-current)	Other assets	2,934		5,515
Total finance lease receivables		$	7,189	$	11,877

Finance lease liabilities (current)	Accounts payable and accrued liabilities	$	3,785	$	5,281
Finance lease liabilities (non-current)	Accrued liabilities	2,932		5,500
Total finance lease liabilities		$	6,717	$	10,781

(1)Excludes Operating lease right of use assets of $3.4 million that have been reclassified to Assets held for sale, as well as $2.1 million of Operating lease liabilities and $1.4 million of Long-term operating lease liabilities that have been reclassified to Liabilities held for sale related to the AMC Divestiture. See Note 19 “Acquisitions and Divestitures” for more details.


	As of March 31, 2024		As of June 30, 2023
Weighted-average remaining lease term
Operating leases	5.23 years		5.62 years
Finance leases	1.96 years		2.40 years
Weighted-average discount rate
Operating leases	4.86	%	4.66	%
Finance leases	5.51	%	5.60	%


	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023
Operating lease cost	$	22,068	$	20,923	$	68,402	$	49,225
Short-term lease cost	675		1,696		2,567		2,253
Variable lease cost	1,342		1,204		3,798		2,404
Sublease income	(2,955)		(3,018)		(9,668)		(8,834)
Total lease cost	$	21,130	$	20,805	$	65,099	$	45,048

The following table presents supplemental information relating to cash flows arising from lease transactions. Cash payments made for variable lease costs and short-term leases are not included in the measurement of lease liabilities, and, as such, are excluded from the amounts below:


	Nine Months Ended March 31,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating leases	$	82,449	$	62,282
Finance leases	$	4,427	$	989
Right of use assets obtained in exchange for new lease liabilities:
Operating leases (1)	$	19,360	$	28,579

(1)The nine months ended March 31, 2023 excludes the impact of $129.3 million of right of use assets obtained through the Micro Focus Acquisition. See Note 19 “Acquisitions and Divestitures” for further details including the finalization of the purchase price allocation for the Micro Focus Acquisition.


Fiscal years ending June 30,	Operating Leases		Finance Leases
2024 (three months ended)	$	26,578	$	1,295
2025	88,505		3,369
2026	67,585		1,940
2027	55,966		459
2028	42,277		—
Thereafter	66,900		—
Total lease payments	$	347,811	$	7,063
Less: Imputed interest	(38,408)		(346)
Total	$	309,403	$	6,717

Operating lease maturity amounts included in the table above are inclusive of liabilities classified as held for sale and do not include sublease income expected to be received under our various sublease agreements with third parties. Under the agreements initiated with third parties, we expect to receive sublease income of $3.0 million over the remainder of Fiscal 2024 and $34.1 million thereafter.