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Leases | 12 Months Ended
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Jun. 30, 2025
Notes to Financial Statements |
Leases | Note 7. Leases: As a lessee, the Company leases offices, labs, and manufacturing facilities, as well as vehicles, copiers, and other equipment. The Company determines whether a contract is a lease or contains a lease at inception date. Upon commencement date, operating lease right-of-use assets and liabilities are recognized based on the present value of lease payments over the lease term. The discount rate used to calculate present value is the Company’s incremental borrowing rate or, if available, the rate implicit in the lease. The Company determines the incremental borrowing rate for each lease based primarily on its lease term and the economic environment of the applicable country or region. The Company recognizes operating lease expense on a straight-line basis over the lease term. Further, as part of our adoption of ASC 842, the Company also made the accounting policy elections to not capitalize short term leases (defined as a lease with a lease term that is less than 12 months) and to combine lease and non-lease components for all asset classes in determining the lease payments. The Consolidated Financial Statements include the following amounts related to operating leases where the Company is the lessee ($ in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended | ​
​ | ​ | June 30, | ​
​ | ​ | ​ | ​ | 2025 | ​ | ​ | 2024 | ​ | ​ | 2023 | ​
Consolidated Statements of Earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fixed operating lease expense | ​ | ​ | $ | 17,414 | ​ | $ | 18,195 | ​ | $ | 15,941 | ​
Variable operating lease expense | ​ | ​ | ​ | 5,426 | ​ | ​ | 4,988 | ​ | ​ | 4,437 | ​
Total operating lease expense | ​ | ​ | $ | 22,840 | ​ | $ | 23,183 | ​ | $ | 20,378 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated Statements of Cash Flows | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash paid for amounts included in the measurement of operating lease liabilities | ​ | ​ | $ | 16,320 | ​ | $ | 17,729 | ​ | $ | 14,934 | ​
ROU assets obtained in exchange for operating lease obligations | ​ | ​ | ​ | 8,767 | ​ | ​ | 11,051 | ​ | ​ | 48,103 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated Balance Sheets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lease Assets and Liabilities | Balance Sheet Classification | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease ROU assets | Right-of-use asset | ​ | $ | 73,399 | ​ | $ | 91,285 | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease liabilities - current | Operating lease liabilities - current | ​ | $ | 14,098 | ​ | $ | 12,920 | ​ | ​ | ​ | ​
Operating lease liabilities - long-term | Operating lease liabilities | ​ | ​ | 83,960 | ​ | ​ | 87,618 | ​ | ​ | ​ | ​
Total operating lease liabilities | ​ | ​ | $ | 98,058 | ​ | $ | 100,538 | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average remaining lease term: | ​ | ​ | ​ | 7.6 years | ​ | ​ | 8.5 years | ​ | ​ | ​ | ​
Weighted average discount rate: | ​ | ​ | ​ | 4.3 | % | ​ | 4.2 | % | ​ | ​ | ​
​ The following table summarizes payments by date for the Company’s operating leases, which is then reconciled to our total lease obligation (in thousands):
​ | ​ | ​ | ​
​ |  | ​ | ​
​ | ​ | June 30,
​ | ​ | 2025
2026 | ​ | $ | 17,685
2027 | ​ |  | 16,587
2028 | ​ |  | 16,312
2029 | ​ |  | 15,905
2030 | ​ |  | 13,444
Thereafter | ​ |  | 35,932
Total | ​ | $ | 115,865
Less: Amounts representing interest | ​ |  | 17,807
Total lease obligations | ​ | $ | 98,058
​ Certain leases include one or more options to renew, with terms that extend the lease term up to five years. The Company includes option to renew the lease as part of the right of use lease asset and liability when it is reasonably certain the Company will exercise the option. In addition, certain leases contain fair value purchase and termination options with an associated penalty. In general, the Company is not reasonably certain to exercise such options.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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