| Leases |
7. Leases Our lease portfolio consists of real estate, vehicles and equipment ROU assets, classified as operating leases. The remaining non-cancelable lease terms, inclusive of renewal options reasonably certain of exercise, range from one to 20 years. The following table summarizes the ROU assets and the related lease liabilities recorded on the consolidated balance sheet: | | | | | | | | | As of June 30 | | 2026 | | 2025 | | Balance Sheet Classification | Assets: | | | | | | | | | Operating lease ROU assets | | $ | 51,574 | | $ | 41,339 | | Other assets | | | | | | | | | | Liabilities: | | | | | | | | | Current portion | | | 10,572 | | | 9,127 | | Accrued expenses and
other current liabilities | Non-current portion | | | 45,401 | | | 33,740 | | Other liabilities | Total operating lease liabilities | | $ | 55,973 | | $ | 42,867 | | |
The following table summarizes the composition of net lease expense: | | | | | | | | | | For the Year Ended June 30 | | | 2026 | | | 2025 | | 2024 | Operating lease expense | | $ | 11,696 | | $ | 9,809 | | $ | 8,888 | Variable lease expense | | | 2,621 | | | 2,059 | | | 1,150 | Short-term lease expense | | | 1,590 | | | 1,477 | | | 1,397 | Total lease expense | | $ | 15,907 | | $ | 13,345 | | $ | 11,435 |
The following tables include other supplemental information: | | | | | | | | | | For the Year Ended June 30 | | 2026 | | 2025 | | 2024 | Operating cash flows used for ROU operating leases | | $ | 11,710 | | $ | 9,670 | | $ | 8,231 | Non-cash changes to ROU operating assets and lease liabilities | | $ | 19,426 | | $ | 11,458 | | $ | 9,283 |
| | | | | | As of June 30 | | 2026 | | 2025 | | Weighted average remaining lease term (in years) - operating leases | | 10.4 | | 9.1 | | Weighted average discount rate - operating leases | | 5.02 | % | 5.01 | % |
At June 30, 2026 maturities of future lease liabilities were: | | | | For the Years Ending June 30 | | | | 2027 | | $ | 12,199 | 2028 | | | 9,957 | 2029 | | | 7,499 | 2030 | | | 5,770 | 2031 | | | 4,917 | 2032 and thereafter | | | 29,987 | Total lease payments | | | 70,331 | Less: interest | | | 14,358 | Total operating lease liabilities | | $ | 55,973 |
There were no significant future payment obligations related to executed lease agreements for which the related lease had not yet commenced as of June 30, 2026. Our lease agreements do not contain any material restrictive covenants or residual value guarantee provisions.
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