Company: TEAM
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0001650372-25-000009
Chunk: 255

Company: Atlassian Corp
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 8
Chunk 255
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InstrumentExpected Remaining Term (years)Contractual Interest RateEffective Interest RateDecember 31, 2024June 30, 20242029 Notes4.45.250 %5.55 %$500,000 $500,000 2034 Notes9.45.500 %5.71 %500,000 500,000 Unamortized debt discount and issuance costs(13,215)(14,089)Long-term debt$986,785 $985,911 The total estimated fair value of the Notes was approximately $1.0 billion as of December 31, 2024 and June 30, 2024. The estimated fair value of the Notes, which the Company deems Level 2 financial instruments, was determined based on quoted bid prices in an over-the-counter market on the last trading day of the reporting period.

10. Commitments and Contingencies Noncancellable Purchase ObligationsThe Company has contractual commitments for services with third-parties related to its cloud services platform and other services. These commitments are non-cancellable and expire within one to four years as disclosed in Note 12, “Commitments and Contingencies” of its Annual Report on Form 10-K for fiscal year 2024. During the three and six months ended December 31, 2024, the Company entered into additional non-cancelable purchase commitments of approximately $157.3 million which expire within two to three years.Operating LeasesThere were no material changes to the Company’s operating lease arrangements and future lease payments under non-cancelable operating leases including obligations for leases that have not yet commenced disclosed in Note 10, “Leases,” of the Company’s Annual Report on Form 10-K for fiscal year 2024.Supplemental information related to operating leases were as follows (in thousands): Three Months Ended December 31,Six Months Ended December 31, 2024202320242023Operating lease costs$10,909 $10,289 $21,575 $20,606 Right-of-use assets obtained in exchange for new operating lease liabilities$13,363 $15,928 $20,789 $21,953 Legal ProceedingsFrom time to time, the Company is party to litigation and other legal proceedings in the ordinary course of business. While the Company does not believe the ultimate resolutions of these pending legal matters are likely to have a material adverse effect on the Company’s financial position, the results of any litigation