| Schedule of Assets And Liabilities, Lessee |
The following illustrates the Condensed Consolidated Balance Sheets information related to leases: | | | | | | | | | | | | | | | | 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.
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| Schedule of Lease Costs and Other Information |
The weighted average remaining lease term and discount rate, inclusive of Assets held for sale for the periods indicated below were as follows: | | | | | | | | | | | | | 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 | % |
The following illustrates the various components of lease costs for the period indicated: | | | | | | | | | | | | | | | | | | | | | | | | | 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.
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| Schedule of Maturity of Lease Liabilities |
The following table presents the future minimum lease payments under our lease liabilities as of March 31, 2024: | | | | | | | | | | | | | 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 | |
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