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LEASES (Tables) | 6 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Schedule of Real Estate Taxes and Other Occupancy Expenses | Total Rent includes the following:
| Three Months Ended December 31, |  | Six Months Ended December 31,
| 2020 |  | 2019 |  | 2020 |  | 2019
| (Dollars in thousands)
Minimum rent | $ | 10,484 |  |  | $ | 15,926 |  |  | $ | 20,205 |  |  | $ | 35,067 |
Percentage rent based on sales | 2 |  |  | 550 |  |  | 75 |  |  | 1,847 |
Real estate taxes and other expenses | 2,497 |  |  | 2,860 |  |  | 5,158 |  |  | 6,170 |
Lease termination expense (1) | 1,087 |  |  | 38 |  |  | 6,638 |  |  | 79 |
Lease liability benefit (2) | (2,226) |  |  | — |  |  | (8,286) |  |  | — |
Corporate segment rent | 653 |  |  | 720 |  |  | 1,375 |  |  | 1,005 |
Franchise segment non-reimbursable rent | 405 |  |  | 401 |  |  | 962 |  |  | 591 |
Total | $ | 12,902 |  |  | $ | 20,495 |  |  | $ | 26,127 |  |  | $ | 44,759 |
_______________________________________________________________________________ (1)During the three and six months ended December 31, 2020, the Company terminated the leases for 98 and 229 company-owned salons, respectively, before the lease end dates. During the three and six months ended December 31, 2019, the Company terminated the leases for 20 and 57 company-owned salons, respectively, before the lease end dates. For the three and six months ended December 31, 2020, lease termination fees include $2.2 and $4.6 million, respectively, of early termination payments to close salons before lease end date and relieve the Company of future lease obligations. For the three and six months ended December 31, 2020, lease termination fees also include $(1.1) and $2.0 million, respectively, of adjustments to accrued future lease payments for underperforming salons. The early termination payments made in the six months ended December 31, 2020 will save the Company approximately $4.3 million in future minimum rent plus associated real estate taxes and other lease expenses. (2)For the three and six months ended December 31, 2020, upon termination of previously impaired leases, the Company derecognized ROU assets of $3.0 and $10.1 million, respectively, and lease liabilities of $4.2 and $14.5 million, respectively, that resulted in a net gain of $1.2 and $4.4 million, respectively. In addition, the Company recognized a benefit from lease liabilities decreasing in excess of previously impaired ROU assets. The benefit recognized was $1.0 and $3.9 million in the three and six months ended December 31, 2020, respectively.
Lessor, Future Operating Lease Commitments | As of December 31, 2020, future operating lease commitments, including one renewal option for leases expected to be renewed, to be paid and received by the Company were as follows:
Fiscal Year |  | Leases for Franchise Salons |  | Leases for Company-owned Salons |  | Corporate Leases |  | Total Operating Lease Payments |  | Sublease Income To Be Received From Franchisees |  | Net Rent Commitments
Remainder of 2021 |  | $ | 61,792 |  |  | $ | 15,257 |  |  | $ | 914 |  |  | $ | 77,963 |  |  | $ | (61,792) |  |  | $ | 16,171 |
2022 |  | 114,759 |  |  | 25,415 |  |  | 1,483 |  |  | 141,657 |  |  | (114,759) |  |  | 26,898 |
2023 |  | 101,513 |  |  | 19,539 |  |  | 1,520 |  |  | 122,572 |  |  | (101,513) |  |  | 21,059 |
2024 |  | 88,919 |  |  | 14,647 |  |  | 1,558 |  |  | 105,124 |  |  | (88,919) |  |  | 16,205 |
2025 |  | 75,170 |  |  | 8,328 |  |  | 1,598 |  |  | 85,096 |  |  | (75,170) |  |  | 9,926 |
Thereafter |  | 201,054 |  |  | 18,670 |  |  | 7,824 |  |  | 227,548 |  |  | (201,054) |  |  | 26,494 |
Total future obligations |  | $ | 643,207 |  |  | $ | 101,856 |  |  | $ | 14,897 |  |  | $ | 759,960 |  |  | $ | (643,207) |  |  | $ | 116,753 |
Less amounts representing interest |  | 79,438 |  |  | 9,401 |  |  | 2,542 |  |  | 91,381 |  |  |  |  |
Present value of lease liabilities |  | $ | 563,769 |  |  | $ | 92,455 |  |  | $ | 12,355 |  |  | $ | 668,579 |  |  |  |  |
Less current lease liabilities |  | 100,685 |  |  | 25,796 |  |  | 1,168 |  |  | 127,649 |  |  |  |  |
Long-term lease liabilities |  | $ | 463,084 |  |  | $ | 66,659 |  |  | $ | 11,187 |  |  | $ | 540,930 |  |  |  |  |
Lessee, Future Operating Lease Commitments | As of December 31, 2020, future operating lease commitments, including one renewal option for leases expected to be renewed, to be paid and received by the Company were as follows:
Fiscal Year |  | Leases for Franchise Salons |  | Leases for Company-owned Salons |  | Corporate Leases |  | Total Operating Lease Payments |  | Sublease Income To Be Received From Franchisees |  | Net Rent Commitments
Remainder of 2021 |  | $ | 61,792 |  |  | $ | 15,257 |  |  | $ | 914 |  |  | $ | 77,963 |  |  | $ | (61,792) |  |  | $ | 16,171 |
2022 |  | 114,759 |  |  | 25,415 |  |  | 1,483 |  |  | 141,657 |  |  | (114,759) |  |  | 26,898 |
2023 |  | 101,513 |  |  | 19,539 |  |  | 1,520 |  |  | 122,572 |  |  | (101,513) |  |  | 21,059 |
2024 |  | 88,919 |  |  | 14,647 |  |  | 1,558 |  |  | 105,124 |  |  | (88,919) |  |  | 16,205 |
2025 |  | 75,170 |  |  | 8,328 |  |  | 1,598 |  |  | 85,096 |  |  | (75,170) |  |  | 9,926 |
Thereafter |  | 201,054 |  |  | 18,670 |  |  | 7,824 |  |  | 227,548 |  |  | (201,054) |  |  | 26,494 |
Total future obligations |  | $ | 643,207 |  |  | $ | 101,856 |  |  | $ | 14,897 |  |  | $ | 759,960 |  |  | $ | (643,207) |  |  | $ | 116,753 |
Less amounts representing interest |  | 79,438 |  |  | 9,401 |  |  | 2,542 |  |  | 91,381 |  |  |  |  |
Present value of lease liabilities |  | $ | 563,769 |  |  | $ | 92,455 |  |  | $ | 12,355 |  |  | $ | 668,579 |  |  |  |  |
Less current lease liabilities |  | 100,685 |  |  | 25,796 |  |  | 1,168 |  |  | 127,649 |  |  |  |  |
Long-term lease liabilities |  | $ | 463,084 |  |  | $ | 66,659 |  |  | $ | 11,187 |  |  | $ | 540,930 |  |  |  |  |

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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=121609121&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=121609121&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121576215&loc=SL77919396-209981 + Details
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