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LEASES (Tables)

3 Months Ended

Sep. 30, 2019

LEASES

Summary of components of lease cost

The components of lease cost were as follows (in thousands):

​	​	​	​
​	​	​	Three Months Ended
​		September 30,
​	​	2019
Operating Lease Cost	​	$	13,703
Sublease Income	​		(5,126)
Total Lease Cost	​	$	8,577

Summary of maturities of lease liabilities

Maturities of lease liabilities by fiscal year were as follows as of September 30, 2019 (in thousands):

​	​	​	​
​		Operating
Fiscal Year	​	Leases
2020 (Remaining)	​	$	50,344
2021	​	​	61,142
2022	​	​	56,349
2023	​	​	45,344
2024	​	​	28,880
Thereafter	​	​	40,791
Total lease payments	​		282,850
Less: imputed interest	​	​	(36,738)
Present value of lease liabilities	​	$	246,112

Summary of lease term and discount rate

Lease term and discount rate were as follows:

​	​	​	​
​		September 30,
​	​	2019
Weighted-average remaining operating lease term (years)	​	​	5.1
Weighted-average operating lease discount rate	​	​	5.4%

Summary of supplemental disclosures of cash flow information related to leases

​

Supplemental disclosures of cash flow information related to leases were as follows (in thousands):

​	​	​	​
​		September 30,
​	​	2019
Cash paid for amounts in the measurement of operating lease liabilities (net of sublease receipts)	​	$	11,963
Operating lease assets obtained in exchange for operating lease liabilities	​	$	4,868

Schedule of Future minimum lease and sublease rental income

Future minimum lease and sublease rental income under these agreements at September 30, 2019, are as follows (in thousands):

​

​	​	​	​
Fiscal Year		Amount
2020 (Remaining)	​	$	18,608
2021	​	​	20,099
2022	​		17,103
2023	​		16,368
2024	​		10,523
Thereafter	​	​	7,308
Total	​	$	90,009

Summary of future minimum rental commitments for all noncancelable operating leases

​

As previously disclosed in our 2019 Annual Report on Form 10-K and under the previous lease accounting, future minimum rental commitments for all noncancelable operating leases, adjusted to exclude Adtalem Brazil, having a remaining term in excess of one year at June 30, 2019, were as follows (in thousands):

​	​	​	​
Fiscal Year	​	Amount
2020	​	$	67,109
2021	​	​	60,781
2022	​	​	55,982
2023	​	​	44,970
2024	​	​	28,374
Thereafter	​	​	36,120
Total minimum lease payments	​	$	293,336

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

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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.

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