XML 40 R29.htm IDEA: XBRL DOCUMENT v3.21.1
Leases (Tables)
 9 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Schedule of Right-of-Use Asset and Lease Liability The right-of-use assets and lease liabilities were as follows as of March 31, 2021:
(in thousands)Balance Sheet ClassificationAmount
Assets
Operating leasesOperating lease right-of-use assets$30,381 
Finance leasesProperty and equipment - net228 
Total lease right-of-use assets30,609 
Liabilities
Current
Operating leasesOperating lease liabilities - current5,130 
Finance leasesOther current liabilities202 
Non-current
Operating leasesOperating lease liabilities37,716 
Finance leasesOther liabilities75 
Total lease liabilities$43,123 
Schedule of Lease Costs and Supplemental Information The components of lease costs were as follows for the periods presented:
(in thousands)Three Months Ended March 31, 2021Nine Months Ended March 31, 2021
Finance lease costs(1)
$69 $194 
Operating lease costs(2)
1,980 5,859 
Short-term lease costs42 168 
Variable lease costs(3)
201 915 
Sublease income(403)(638)
Total net lease costs$1,889 $6,498 
(1) Primarily consists of amortization of finance lease right-of-use assets and an immaterial amount of interest on finance lease liabilities recorded in operating costs and expenses and interest expense, net in the condensed consolidated statements of comprehensive income.

(2) Recorded in operating costs and expenses in the condensed consolidated statements of comprehensive income.

(3) Variable lease costs are not included in the measurement of the lease liability or right-of-use asset as they are not based on an index or rate and primarily represents common area maintenance charges and real estate taxes recorded in operating costs and expenses in the condensed consolidated statements of comprehensive income.
Supplemental Information—Supplemental information related to leases was as follows as of and for the nine months ended March 31, 2021:

(in thousands)Operating LeasesFinance leasesTotal
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from leases$5,045 $8 $5,053 
Financing cash flows from leases— 201 201 
Right-of-use assets obtained in exchange for new lease liabilities$3,632 $194 $3,826 

Operating LeasesFinance leases
Weighted-average remaining lease term (in years)7.051.31
Weighted-average discount rate9.63 %6.51 %
Schedule of Maturity of Operating Lease Liabilities As of March 31, 2021, remaining maturities of lease liabilities for each of the next five fiscal years and thereafter are as follows:
(in thousands)Operating leasesFinance leasesTotal
Remainder of 2021$2,145 $65 $2,210 
20228,946 196 9,142 
20238,478 27 8,505 
20248,857 — 8,857 
20258,870 — 8,870 
20266,591 — 6,591 
Thereafter15,115 — 15,115 
     Total undiscounted lease payments59,002 288 59,290 
Less: interest16,156 11 16,167 
     Present value of lease liabilities$42,846 $277 $43,123 
Schedule of Maturity of Finance Lease Liabilities As of March 31, 2021, remaining maturities of lease liabilities for each of the next five fiscal years and thereafter are as follows:
(in thousands)Operating leasesFinance leasesTotal
Remainder of 2021$2,145 $65 $2,210 
20228,946 196 9,142 
20238,478 27 8,505 
20248,857 — 8,857 
20258,870 — 8,870 
20266,591 — 6,591 
Thereafter15,115 — 15,115 
     Total undiscounted lease payments59,002 288 59,290 
Less: interest16,156 11 16,167 
     Present value of lease liabilities$42,846 $277 $43,123 
Schedule of Future Minimum Rental Payments for Operating Leases
The following table summarizes the future annual minimum lease obligations under non-cancelable operating leases at June 30, 2020, under the previous lease accounting standard ASC 840, Leases (in thousands):

2021$8,781 
20228,497 
20237,991 
20248,353 
20258,306 
Thereafter21,262 
Total minimum lease payments$63,190