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v3.25.1

Finance and Operating Leases (Tables) | 9 Months Ended
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Mar. 31, 2025
Finance and Operating Leases |
Schedule of present value of the minimum lease payments on finance leases | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2025 |  | June 30, 2024
​ |  | (in thousands)
2025 | ​ | $ | 12,666 | ​ | $ | 31,655
2026 | ​ | ​ | 45,454 | ​ | ​ | 19,880
2027 | ​ | ​ | 33,265 | ​ | ​ | 7,691
2028 | ​ | ​ | 11,542 | ​ | ​ | 82
Total minimum payments | ​ | ​ | 102,927 | ​ | ​ | 59,308
Less: imputed interest | ​ | ​ | (6,153) | ​ | ​ | (3,710)
Finance lease liability | ​ | ​ | 96,774 | ​ | ​ | 55,598
Less: current portion of finance lease liability | ​ | ​ | (44,011) | ​ | ​ | (29,146)
Long-term finance lease liability | ​ | $ | 52,763 | ​ | $ | 26,452
Schedule of future minimum lease payments under non-cancelable operating leases | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2025 |  | June 30, 2024
​ | ​ | (in thousands)
2025 | ​ | $ | 3,558 | ​ | $ | 14,263
2026 | ​ | ​ | 12,508 | ​ | ​ | 12,361
2027 | ​ | ​ | 8,881 | ​ | ​ | 8,705
2028 | ​ | ​ | 7,894 | ​ | ​ | 7,713
2029 | ​ | ​ | 7,711 | ​ | ​ | 7,599
Thereafter | ​ | ​ | 12,552 | ​ | ​ | 12,381
Total minimum payments | ​ | ​ | 53,104 | ​ | ​ | 63,022
Less: imputed interest | ​ | ​ | (4,008) | ​ | ​ | (5,082)
Operating lease liability | ​ | ​ | 49,096 | ​ | ​ | 57,940
Less: current portion of operating lease liability | ​ | ​ | (12,306) | ​ | ​ | (12,748)
Long-term operating lease liability | ​ | $ | 36,790 | ​ | $ | 45,192
Schedule of expected sublease income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2025 |  | June 30, 2024
​ | ​ | (in thousands)
2025 | ​ | $ | 70 | ​ | $ | 455
2026 | ​ | ​ | 139 | ​ | ​ | 139
Total sublease income | ​ | $ | 209 | ​ | $ | 594
Schedule of lease cost, weighted-average remaining lease term, weighted-average discount rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, | ​ | Nine Months Ended March 31, | ​
​ | ​ | 2025 |  | 2024 | ​ | 2025 |  | 2024 | ​
​ | ​ | (in thousands) | ​
Lease cost | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finance lease cost: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of right-of-use assets | ​ | $ | 10,556 | ​ | $ | 7,775 | ​ | $ | 27,033 | ​ | $ | 23,760 | ​
Interest on lease liabilities | ​ | ​ | 1,225 | ​ | ​ | 887 | ​ | ​ | 3,105 | ​ | ​ | 1,870 | ​
Instructional costs and services: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease cost | ​ | ​ | 2,269 | ​ | ​ | 2,363 | ​ | ​ | 6,913 | ​ | ​ | 7,284 | ​
Short-term lease cost | ​ | ​ | 12 | ​ | ​ | 10 | ​ | ​ | 38 | ​ | ​ | 42 | ​
Sublease income | ​ | ​ | (66) | ​ | ​ | (66) | ​ | ​ | (197) | ​ | ​ | (263) | ​
Selling, general, and administrative expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease cost | ​ | ​ | 984 | ​ | ​ | 1,146 | ​ | ​ | 3,097 | ​ | ​ | 4,891 | ​
Short-term lease cost | ​ | ​ | 23 | ​ | ​ | 16 | ​ | ​ | 70 | ​ | ​ | 128 | ​
Sublease income | ​ | ​ | — | ​ | ​ | (123) | ​ | ​ | (149) | ​ | ​ | (368) | ​
Total lease cost | ​ | $ | 15,003 | ​ | $ | 12,008 | ​ | $ | 39,910 | ​ | $ | 37,344 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other information | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash paid for amounts included in the measurement of lease liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating cash flows from operating leases | ​ | $ | (3,146) | ​ | $ | (3,108) | ​ | $ | (9,583) | ​ | $ | (11,695) | ​
Financing cash flows from finance leases | ​ | ​ | (13,243) | ​ | ​ | (9,721) | ​ | ​ | (29,957) | ​ | ​ | (32,212) | ​
Right-of-use assets obtained in exchange for new finance lease liabilities | ​ | ​ | 15,628 | ​ | ​ | 6,220 | ​ | ​ | 67,567 | ​ | ​ | 32,497 | ​
Right-of-use assets obtained in exchange for new operating lease liabilities | ​ | ​ | 457 | ​ | ​ | 180 | ​ | ​ | 739 | ​ | ​ | 805 | ​
Weighted-average remaining lease term - finance leases | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2.21 | yrs. | ​ | 2.09 | yrs.
Weighted-average remaining lease term - operating leases | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 5.24 | yrs. | ​ | 5.80 | yrs.
Weighted-average discount rate - finance leases | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 5.51 | % | ​ | 5.45 | %
Weighted-average discount rate - operating leases | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2.94 | % | ​ | 2.93 | %
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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