XML 25 R13.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Leases | 12 Months Ended
--- | ---
Jun. 30, 2022
Leases [Abstract] |
Leases | Leases We have operating leases with initial noncancelable lease terms in excess of one year covering the rental of various facilities and equipment. Certain of these leases contain renewal options and some provide options to purchase during the lease term. Our operating leases include leases for real estate for some of our office and manufacturing facilities as well as manufacturing and non-manufacturing equipment used in our business. The remaining lease terms for these operating leases range from 1 year to 10 years. We have finance leases with initial noncancelable lease terms in excess of one year covering the rental of various facilities and equipment. Certain of these leases contain renewal options and some provide options to purchase during the lease term. These leases are generally for non-manufacturing equipment used in our business and warehouse facilities. The remaining lease terms for these finance leases range from 1 year to 3 years. As of June 30, 2022 and 2021, the weighted-average discount rate of our operating leases was 2.6% and 2.9%, respectively. As of June 30, 2022 and 2021, the weighted-average discount rate of our finance leases was 1.8% and 1.9%, respectively. The components of lease expense in each of the years ended June 30 have been provided as follows:
| 2022 |  | 2021 |  | 2020
Operating lease cost in Cost of Sales and Selling, General and Administrative Expenses | $ | 9,246 |  |  | $ | 8,300 |  |  | $ | 8,726 |
Finance lease cost: |  |  |  |  |
Amortization of assets in Cost of Sales and Selling, General and Administrative Expenses | $ | 2,413 |  |  | $ | 1,571 |  |  | $ | 335 |
Interest on lease liabilities in Other, Net | 153 |  |  | 156 |  |  | 73 |
Total finance lease cost | $ | 2,566 |  |  | $ | 1,727 |  |  | $ | 408 |
Short-term lease cost in Cost of Sales and Selling, General and Administrative Expenses | 4,639 |  |  | 2,652 |  |  | 2,405 |
Total net lease cost | $ | 16,451 |  |  | $ | 12,679 |  |  | $ | 11,539 |
Supplemental balance sheet information related to leases at June 30 is as follows:
| 2022 |  | 2021 |  |
Operating Leases |  |  |  |  |
Operating Lease Right-Of-Use Assets | $ | 28,177 |  |  | $ | 22,455 |  |  |
Current operating lease liabilities in Accrued Liabilities | $ | 8,874 |  |  | $ | 6,861 |  |  |
Noncurrent Operating Lease Liabilities | 20,494 |  |  | 17,228 |  |  |
Total operating lease liabilities | $ | 29,368 |  |  | $ | 24,089 |  |  |
Finance Leases |  |  |  |  |
Finance lease right-of-use assets in Property, Plant and Equipment-Net | $ | 7,217 |  |  | $ | 9,212 |  |  |
Current finance lease liabilities in Accrued Liabilities | $ | 2,542 |  |  | $ | 2,517 |  |  |
Noncurrent finance lease liabilities in Other Noncurrent Liabilities | 4,320 |  |  | 6,667 |  |  |
Total finance lease liabilities | $ | 6,862 |  |  | $ | 9,184 |  |  |
Supplemental cash flow information related to leases in each of the years ended June 30 is as follows:
| 2022 |  | 2021 |  | 2020 |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 9,603 |  |  | $ | 8,501 |  |  | $ | 8,923 |  |  |
Operating cash flows from finance leases | $ | 153 |  |  | $ | 156 |  |  | $ | 73 |  |  |
Financing cash flows from finance leases | $ | 2,655 |  |  | $ | 2,002 |  |  | $ | 432 |  |  |
Supplemental noncash information on operating lease liabilities arising from obtaining right-of-use assets | $ | 16,617 |  |  | $ | 7,005 |  |  | $ | 5,611 |  |  |
Supplemental noncash information on operating lease liabilities removed due to purchase of leased asset | $ | — |  |  | $ | — |  |  | $ | 5,765 |  |  |
Supplemental noncash information on finance lease liabilities arising from obtaining right-of-use assets | $ | 334 |  |  | $ | 9,035 |  |  | $ | 631 |  |  |
As of June 30, 2022, the maturities of lease liabilities were as follows:
| Operating Leases |  | Finance Leases
2023 | $ | 9,541 |  |  | $ | 2,644 |
2024 | 8,016 |  |  | 2,122 |
2025 | 5,223 |  |  | 1,973 |
2026 | 4,995 |  |  | 306 |
2027 | 2,697 |  |  | — |
Thereafter | 546 |  |  | — |
Total minimum payments | $ | 31,018 |  |  | $ | 7,045 |
Less amount representing interest | (1,650) |  |  | (183) |
Present value of lease obligations | $ | 29,368 |  |  | $ | 6,862 |
As of June 30, 2022 and 2021, the weighted-average remaining term of our operating leases was 4.0 years and 4.4 years, respectively. As of June 30, 2022 and 2021, the weighted-average remaining term of our finance leases was 3.0 years and 4.0 years, respectively. We have additional operating lease commitments totaling $1.9 million for equipment that had not been delivered as of June 30, 2022.

X
- Definition The entire disclosure for operating leases and finance leases of lessee. Includes, but is not limited to, description of operating and finance leases and maturity analysis of operating lease liability and finance lease liability. + References No definition available. + Details
Name: | lanc_LesseeOperatingLeasesAndFinanceLeasesTextBlock
Namespace Prefix: | lanc_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration