v3.25.2
Leases
 12 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Operating Leases Leases
We enter into lease arrangements for real estate, construction equipment and information technology equipment in the normal course of business. Real estate leases accounted for most of our right-of-use assets as of June 30, 2025. Most real estate and information technology equipment leases generally have fixed payments that follow an agreed upon payment schedule and have remaining lease terms ranging from less than a year to 11 years. Construction equipment leases generally have "month-to-month" lease terms that automatically renew as long as the equipment remains in use.
The components of lease expense in the Consolidated Statements of Income are as follows:

Fiscal Years Ended
June 30, 2025June 30, 2024June 30, 2023
Lease expenseLocation of Expense in Consolidated Statements of Income(in thousands)
Operating lease expenseCost of revenue and selling, general and administrative expenses$5,167 $5,994 $6,635 
Short-term lease expense(1)
Cost of revenue20,932 21,414 29,598 
Total lease expense$26,099 $27,408 $36,233 
(1)Primarily represents the lease expense of construction equipment that is subject to month-to-month rental agreements with expected rental durations of less than one year.

The future undiscounted lease payments, as reconciled to the discounted operating lease liabilities presented in our Consolidated Balance Sheets, were as follows:

June 30, 2025
Maturity Analysis:(in thousands)
Fiscal 2026$5,848 
Fiscal 20275,501 
Fiscal 20284,602 
Fiscal 20293,815 
Fiscal 20302,800 
Thereafter3,357 
Total future operating lease payments25,923 
Imputed interest(4,496)
Net present value of future lease payments21,427 
Less: current portion of operating lease liabilities4,441 
Non-current operating lease liabilities$16,986 

The following is a summary of the weighted average remaining operating lease and term and weighted average discount rate:

Fiscal Years Ended
June 30, 2025June 30, 2024
(in thousands)
Weighted-average remaining lease term (in years)5.2 years6.1 years
Weighted-average discount rate 6.7 %6.3 %
Cash flow information related to leases is as follows:
Fiscal Years Ended
June 30, 2025June 30, 2024June 30, 2023
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating lease payments$5,444 $5,761 $6,618 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases$2,490 $1,956 $5,383