7. LEASES

During our fiscal year ended June 30, 2022, we leased our office facilities under non-cancelable operating leases that expire on various dates through the fiscal year 2027; and we were the sublessor for some office spaces through March 2022. We also modified one of the existing operating leases by extending it through 2027, which resulted in an increase in operating lease right-of-use assets and operating lease liabilities in the amount of $2.8 million during our fiscal year ended June 30. 2022. All of our office leases are classified as operating leases with lease expense recognized on a straight-line basis over the lease term. Lease right-of-use assets and liabilities are recognized on the commencement date at the present value of lease payments over the lease term. As our leases do not provide an implicit rate, we use our incremental borrowing rate based on information available at the commencement date to determine the present value of lease payments.

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The following table presents information about the weighted average lease term and discount rate as follows:

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The following table presents information about leases on our consolidated statement of operations (in thousands):

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The following table presents supplemental cash flow information about our leases (in thousands):

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As of June 30, 2022, remaining maturities of lease liabilities are as follows (in thousands):

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