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FINANCING ARRANGEMENTS: | 6 Months Ended
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Dec. 31, 2018
Debt Disclosure [Abstract] |
FINANCING ARRANGEMENTS | FINANCING ARRANGEMENTS: The Company’s long-term debt consists of the following:
|  | Maturity Date |  | Interest Rate |  | December 31, 2018 |  | June 30, 2018
|  | (Fiscal Year) |  |  |  | (Dollars in thousands)
Revolving credit facility |  | 2023 |  | 3.77% |  | $ | 90,000 |  |  | $ | 90,000 |
Revolving Credit Facility As of December 31, 2018 and June 30, 2018, the Company has $90.0 million of outstanding borrowings under a $295.0 million revolving credit facility. At December 31, 2018 and June 30, 2018, the Company has outstanding standby letters of credit under the revolving credit facility of $23.0 million and $1.5 million, respectively, primarily related to the Company's self-insurance program. The unused available credit under the facility was $182.0 million and $203.5 million, respectively. Amounts outstanding under the revolving credit facility are due at maturity in March 2023. The Company’s long-term financial liability consists of the following:
|  | Maturity Date |  | Interest Rate |  | December 31, 2018 |  | June 30, 2018
|  | (Fiscal Year) |  |  |  | (Dollars in thousands)
Long-term lease liability |  | 2033 |  | 3.50% |  | $ | 17,646 |  |  | $ | — |
Sale and Leaseback Transaction In November 2018, the Company sold its Salt Lake City Distribution Center to Nearon Enterprises, LLC (Nearon), an unrelated party. The Company is leasing the property back from Nearon for 15 years with the option to renew three times for five year periods. As the Company plans to lease the property for more than 75% of its economic life, the sales proceeds received from the buyer-lessor are recognized as a financial liability. This financial liability is reduced based on the rental payments made under the lease that are allocated between principal and interest. As of December 31, 2018, the current portion of the Company’s financial liability was $0.6 million. As of December 31, 2018, future lease payments due are as follows:
Remainder of 2019 |  | $ | 585 |
2020 |  | 1,111 |
2021 |  | 1,063 |
2022 |  | 1,042 |
2023 |  | 1,021 |
Thereafter |  | 13,374 |
Total |  | $ | 18,196 |
The Company was in compliance with all covenants and requirements of its financing arrangements as of and during the three and six months ended December 31, 2018.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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