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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2020

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Components of accounts receivable

Components of accounts receivable consisted of (in thousands):

​

​	​	​	​	​	​	​
​	​	June 30,
​		2019			2020
Accounts receivables	​	$	253,504		$	287,488
Less allowance for doubtful accounts	​		(15,064)	​		(17,648)
Total	​	$	238,440	​	$	269,840

Summary of fair values of financial assets and liabilities

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June 30, 2019

June 30, 2020

​

Level 1

Level 2

Level 3

Total

Level 1

Level 2

Level 3

Total

Assets—Insurance company contracts

​

$

—

​

$

35,899

​

$

—

​

$

35,899

​

$

—

​

$

37,155

​

$

—

​

$

37,155

Liabilities—Contingent consideration

​

$

—

​

$

—

​

$

16,577

​

$

16,577

​

$

—

​

$

—

​

$

13,867

​

$

13,867

Schedule of computation of basic and diluted earnings per share

The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except per share amounts):

​

​	​	​	​	​	​	​	​	​	​
​		2018			2019			2020
Net income (loss) available to common stockholders	​	$	(29,127)	​	$	64,796	​	$	75,252
Weighted average shares outstanding—basic	​		18,592	​		18,097	​		18,191
Dilutive effect of equity awards	​		—	​		623	​		409
Weighted average shares outstanding—diluted	​		18,592	​		18,720	​		18,600
Basic earnings (loss) per share	​	$	(1.57)	​	$	3.58	​	$	4.14
Diluted earnings (loss) per share	​	$	(1.57)	​	$	3.46	​	$	4.05
Weighted average shares excluded from diluted earnings (loss) per share due to their anti-dilutive effect	​	​	1,280	​	​	40	​	​	120

Schedule of changes in warranty provisions

​

​	​	​	​
Warranty provision as of June 30, 2017		$	15,178
Warranty claims provided for/assumed in acquisition	​		14,156
Settlements made	​		(7,515)
Warranty provision as of June 30, 2018	​	$	21,819
Warranty claims provided for/assumed in acquisition	​		8,867
Settlements made	​		(8,962)
Warranty provision as of June 30, 2019	​	$	21,724
Warranty claims provided for/assumed in acquisition	​		7,551
Settlements made	​		(8,450)
Warranty provision as of June 30, 2020	​	$	20,825

Schedule of components of operating lease expense

The components of operating lease expense for the year ended June 30, 2020 were as follows (in thousands):

​	​	​	​
​		2020
Operating lease cost	​	$	10,232
Variable lease cost	​		746
Short-term lease cost	​		943
​	​	$	11,921

​

Schedule of supplemental balance sheet assets and liabilities related to operating leases

Supplemental balance sheet assets and liabilities related to operating leases were as follows (in thousands):

​	​	​	​	​	​	​
​		Balance Sheet Category		June 30, 2020
Operating lease ROU assets, net		Other assets	​	$	27,936	​
​	​	​	​	​	​	​
Operating lease liabilities, current portion		Other accrued expenses and current liabilities	​	$	8,537	​
Operating lease liabilities, long-term		Other long-term liabilities	​		19,713	​
Total operating lease liabilities	​	​	​	$	28,250	​
​	​	​	​	​	​	​
Weighted average remaining lease term	​	​	​		4.4 years	​
Weighted average discount rate	​	​			4.3	%

​

Schedule of supplemental cash flow information related to operating leases

Supplemental cash flow information related to operating leases for the year ended June 30, 2020 was as follows (in thousands):

​	​	​	​
​		2020
Cash paid for operating lease liabilities	​	$	7,664
ROU assets obtained in exchange for new lease obligations	​		3,718

​

Schedule of maturities of operating lease liabilities

Maturities of operating lease liabilities under ASC 842 (defined below) at June 30, 2020 were as follows (in thousands):

​	​	​	​
​		June 30, 2020
Less than one year	​	$	9,515
1 – 2 years	​		6,700
2 – 3 years	​		4,511
3 – 4 years	​		3,937
4 – 5 years	​		2,667
Thereafter	​		3,890
​	​		31,220
Less: Imputed interest	​		(2,970)
Total lease liabilities	​	$	28,250

Schedule of cumulative effect of the changes made to consolidated condensed balance sheet for the adoption of the new lease standard

The cumulative effect of the changes made to our July 1, 2019 consolidated condensed balance sheet for the adoption of the new lease standard was as follows (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	Effect of		​	​	​
​	​	Balance at		​	Adoption		​	Balance at
Balance Sheet		June 30, 2019			of ASC 842			July 1, 2019
Assets	​	​	​		​			​
Other assets	​	$	56,518	​	$	30,066	​	$	86,584
Liabilities	​	​	​	​	​	​	​	​	​
Other accrued expenses and current liabilities	​	$	112,956	​	$	8,324	​	$	121,280
Other long-term liabilities	​		65,398	​		21,742	​		87,140

​

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