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v3.22.1

Leases | 9 Months Ended
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Mar. 31, 2022
Leases |
Leases | 6. Leases ​ The components of operating lease expense were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, |  | Nine Months Ended March 31,
​ |  | 2021 |  | 2022 |  | 2021 |  | 2022
Operating lease cost | ​ | $ | 2,216 | ​ | $ | 2,704 | ​ | $ | 7,120 | ​ | $ | 7,354
Variable lease cost | ​ | ​ | 280 | ​ | ​ | 263 | ​ |  | 723 | ​ |  | 650
Short-term lease cost | ​ | ​ | 258 | ​ | ​ | 268 | ​ |  | 649 | ​ |  | 854
​ | ​ | $ | 2,754 | ​ | $ | 3,235 | ​ | $ | 8,492 | ​ | $ | 8,858
​ Sale-leaseback Transaction. In March 2022, we completed a sale-leaseback transaction for our manufacturing facilities and corporate headquarters in Hawthorne, California (the “Hawthorne Property”). We sold the Hawthorne Property for $32 million and recognized a gain of $27.4 million. We also entered into a 6-year lease agreement for the Hawthorne Property commencing March 10, 2022 and expiring on March 31, 2028, with two 5-year renewal options. As of March 31, 2022, we recorded a right-of-use asset and lease liability for $5.7 million. Supplemental disclosures related to operating leases were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Balance Sheet Category |  | June 30, 2021 |  | March 31, 2022
Operating lease ROU assets, net |  | Other assets | ​ | $ | 23,439 | ​ | $ | 36,718
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease liabilities, current portion |  | Other accrued expenses and current liabilities | ​ | $ | 7,499 | ​ | $ | 8,977
Operating lease liabilities, long-term |  | Other long-term liabilities | ​ |  | 16,317 | ​ |  | 28,521
Total operating lease liabilities | ​ | ​ | ​ | $ | 23,816 | ​ | $ | 37,498
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average remaining lease term | ​ | ​ | ​ |  | ​ | ​ |  | 5.1 years
Weighted average discount rate | ​ | ​ | ​ |  | ​ | ​ |  | 3.5 %
​ Supplemental cash flow information related to operating leases was as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Nine Months Ended March 31,
​ |  | 2021 |  | 2022
Cash paid for operating lease liabilities | ​ | $ | 7,773 | ​ | $ | 7,549
ROU assets obtained in exchange for new lease obligations | ​ |  | 1,810 | ​ |  | 9,519
​ Maturities of operating lease liabilities at March 31, 2022 were as follows (in thousands): ​
​ | ​ | ​ | ​
​ |  | March 31, 2022
Less than one year | ​ | $ | 10,101
1 – 2 years | ​ |  | 9,383
2 – 3 years | ​ |  | 7,438
3 – 4 years | ​ |  | 6,016
4 – 5 years | ​ |  | 5,437
Thereafter | ​ |  | 2,314
​ | ​ |  | 40,689
Less: imputed interest | ​ |  | (3,191)
Total lease liabilities | ​ | $ | 37,498
​

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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