OPERATING LEASES |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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OPERATING LEASES |
NOTE 3 — OPERATING LEASES The carrying value of right-of-use assets and operating lease liabilities are as follows (in thousands):
For the three and nine months ended March 31, 2022 and 2021, operating lease expense was as follows (in thousands):
As of March 31, 2022, the weighted average remaining lease term under operating leases was 1.9 years, and the weighted average discount rate for operating lease liabilities was 6.0%. Future payments under all operating lease agreements as of March 31, 2022 are as follows (in thousands):
As discussed in Note 13, the Company entered into a new lease agreement in April 2022 that provides for total cash payments of approximately $2.9 million over the 60-month lease term. These payments are excluded from the table set forth above. |