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Leases (Tables) | 12 Months Ended
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Jun. 30, 2021
Lessee Disclosure [Abstract] |
Schedule of Maturities of Operating Lease Liabilities | The following table sets forth the Company’s future minimum lease payments under operating lease liabilities recorded on the Company’s condensed consolidated balance sheet as of June 30, 2021. The table below does not include commitments that are contingent on events or other factors that are currently uncertain or unknown.
Fiscal years ending |  | Maturity of Operating Lease Liabilities (in thousands)
2022 |  | $ | 2,326 |
2023 |  |  | 1,931 |
2024 |  |  | 1,052 |
2025 |  |  | 735 |
2026 |  |  | 585 |
Thereafter |  |  | 1,692 |
Total lease payments |  | $ | 8,321 |
Less: amounts representing interest |  |  | 623 |
Present value of lease liabilities |  | $ | 7,698 |
Less: current portion |  |  | 2,131 |
Long-term portion |  | $ | 5,567 |
Schedule of Operating Leases | The table below presents additional information related to the Company’s operating leases (in thousands):
Operating lease cost |  | Twelve months ended June 30, 2021 |  | Twelve months ended June 30, 2020 |
Operating lease cost (1) |  | $ | 2,109 |  |  | $ | 1,935 |
Short-term lease cost (1) |  |  | 12 |  |  |  | 190 |
Variable lease cost (1) |  |  | 351 |  |  |  | 177 |
Total lease cost |  | $ | 2,472 |  |  | $ | 2,302 |
(1) Expenses are classified within selling, general and administrative expenses in the Company’s consolidated statement of operations for the years ended June 30, 2021 and 2020. The table below presents lease-related terms and discount rates as of June 30, 2021 and 2020:
|  | June 30, 2021 |  | June 30, 2020 |
Weighted average remaining lease terms |  |  |  |  |
Operating leases |  |  | 5.4 years |  |  |  | 4.0 years |
Weighted average discount rate |  |  |  |  |  |  |  |
Operating leases |  |  | 2.9 | % |  |  | 3.5 | %
Schedule of Supplemental Cash Flow Information Related to Company's Long-Term Operating Lease Liabilities | The table below presents supplemental cash flow information related to the Company’s long-term operating lease liabilities for the years ended June 30, 2021 and 2020 (in thousands):
|  | Twelve months ended June 30, 2021 |  | Twelve months ended June 30, 2020 |
Cash paid for amounts included in the measurement of lease liabilities: |  | $ | 2,109 |  |  | $ | 1,935 |
Operating lease right-of-use assets obtained in exchange for operating lease liabilities: |  | $ | 3,649 |  |  | $ | 1,366 |
Schedule of Future Minimum Lease Payments Receivable | 56 Table of Contents
EVI Industries, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
The future minimum lease payments receivable for sales type leases are as follows (in thousands):
Fiscal years ending June 30, |  | Total Minimum Lease Payments to be Received |  | Amortization of Unearned Income |  | Net Investment in Sales Type Leases
2022 |  | $ | 3,059 |  |  | $ | 1,711 |  |  | $ | 1,348 |
2023 |  |  | 2,407 |  |  |  | 1,316 |  |  |  | 1,091 |
2024 |  |  | 1,769 |  |  |  | 926 |  |  |  | 843 |
2025 |  |  | 1,135 |  |  |  | 573 |  |  |  | 562 |
2026 |  |  | 626 |  |  |  | 294 |  |  |  | 332 |
Thereafter |  |  | 562 |  |  |  | 257 |  |  |  | 305 |
|  |  |  |  |  |  |  |  |  | $ | 4,481 | *
* Excludes non-guaranteed residual values of $2.2 million.

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- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123386454&loc=d3e45280-112737 + Details
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