|9 Months Ended|
Mar. 31, 2020
We have operating leases for facilities, vehicles, and other equipment. Our facility leases are primarily used for administrative functions, research and development, manufacturing, and storage and distribution. Our finance leases are not material.
Our existing leases do not contain significant restrictive provisions or residual value guarantees; however, certain leases contain provisions for payment of maintenance, real estate taxes, or insurance costs by us. Our leases have remaining lease terms ranging from less than one year to ten years, including periods covered by options to extend the lease when it is reasonably certain that the option will be exercised.
Lease expense for the three and nine months ended March 31, 2020 was $8.7 million and $26.3 million, respectively. Expense related to short-term leases, which are not recorded on the Condensed Consolidated Balance Sheets, was not material for the three and nine months ended March 31, 2020. At March 31, 2020, the weighted average remaining lease term and weighted average discount rate for operating leases was 4.9 years and 1.64%, respectively.
Supplemental cash flow information related to leases was as follows:
Maturities of lease liabilities as of March 31, 2020 were as follows:
As of March 31, 2020, we did not have material leases that had not yet commenced.
As of June 30, 2019, future minimum lease payments as defined under the previous lease accounting guidance of ASC 840 under noncancelable operating leases were as follows:
The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef