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v3.23.3

LEASES (Tables) | 3 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Schedule of Real Estate Taxes and Other Occupancy Expenses | Total rent includes the following:
|  |  |  | Three Months Ended September 30,
|  |  |  |  |  | 2023 |  | 2022
|  |  |  |  |  | (Dollars in thousands)
Office rent |  |  |  |  |  | $ | 825 |  |  | $ | 872 |
Lease termination (benefit) expense |  |  |  |  |  | (13) |  |  | 458 |
Lease liability benefit (1) |  |  |  |  |  | (128) |  |  | (602) |
Franchise salon rent (2) |  |  |  |  |  | (337) |  |  | (53) |
Company-owned salon rent |  |  |  |  |  | 750 |  |  | 1,078 |
Total |  |  |  |  |  | $ | 1,097 |  |  | $ | 1,753 |
_______________________________________________________________________________ (1)Upon termination of previously impaired leases, the Company derecognizes the corresponding ROU assets and lease liabilities, which results in a net gain. In addition, the Company recognizes a benefit from lease liabilities decreasing in excess of previously impaired ROU assets for ongoing leases that were previously impaired. (2)The credit in franchise salon rent is related to settlements with landlords for less than previously accrued.
Lessor, Future Operating Lease Commitments | September 30, 2023, 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 (dollars in thousands):
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 2024 |  | $ | 68,629 |  |  | $ | 1,044 |  |  | $ | 978 |  |  | $ | 70,651 |  |  | $ | (68,629) |  |  | $ | 2,022 |
2025 |  | 77,882 |  |  | 674 |  |  | 1,334 |  |  | 79,890 |  |  | (77,882) |  |  | 2,008 |
2026 |  | 64,605 |  |  | 454 |  |  | 1,367 |  |  | 66,426 |  |  | (64,605) |  |  | 1,821 |
2027 |  | 54,830 |  |  | 229 |  |  | 1,401 |  |  | 56,460 |  |  | (54,830) |  |  | 1,630 |
2028 |  | 46,254 |  |  | 218 |  |  | 1,436 |  |  | 47,908 |  |  | (46,254) |  |  | 1,654 |
Thereafter |  | 70,459 |  |  | 56 |  |  | 2,981 |  |  | 73,496 |  |  | (70,459) |  |  | 3,037 |
Total future obligations |  | $ | 382,659 |  |  | $ | 2,675 |  |  | $ | 9,497 |  |  | $ | 394,831 |  |  | $ | (382,659) |  |  | $ | 12,172 |
Less amounts representing interest |  | 43,445 |  |  | 208 |  |  | 1,230 |  |  | 44,883 |  |  |  |  |
Present value of lease liability |  | $ | 339,214 |  |  | $ | 2,467 |  |  | $ | 8,267 |  |  | $ | 349,948 |  |  |  |  |
Less short-term lease liability |  | 75,885 |  |  | 1,132 |  |  | 989 |  |  | 78,006 |  |  |  |  |
Long-term lease liability |  | $ | 263,329 |  |  | $ | 1,335 |  |  | $ | 7,278 |  |  | $ | 271,942 |  |  |  |  |
Lessee, Future Operating Lease Commitments | September 30, 2023, 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 (dollars in thousands):
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 2024 |  | $ | 68,629 |  |  | $ | 1,044 |  |  | $ | 978 |  |  | $ | 70,651 |  |  | $ | (68,629) |  |  | $ | 2,022 |
2025 |  | 77,882 |  |  | 674 |  |  | 1,334 |  |  | 79,890 |  |  | (77,882) |  |  | 2,008 |
2026 |  | 64,605 |  |  | 454 |  |  | 1,367 |  |  | 66,426 |  |  | (64,605) |  |  | 1,821 |
2027 |  | 54,830 |  |  | 229 |  |  | 1,401 |  |  | 56,460 |  |  | (54,830) |  |  | 1,630 |
2028 |  | 46,254 |  |  | 218 |  |  | 1,436 |  |  | 47,908 |  |  | (46,254) |  |  | 1,654 |
Thereafter |  | 70,459 |  |  | 56 |  |  | 2,981 |  |  | 73,496 |  |  | (70,459) |  |  | 3,037 |
Total future obligations |  | $ | 382,659 |  |  | $ | 2,675 |  |  | $ | 9,497 |  |  | $ | 394,831 |  |  | $ | (382,659) |  |  | $ | 12,172 |
Less amounts representing interest |  | 43,445 |  |  | 208 |  |  | 1,230 |  |  | 44,883 |  |  |  |  |
Present value of lease liability |  | $ | 339,214 |  |  | $ | 2,467 |  |  | $ | 8,267 |  |  | $ | 349,948 |  |  |  |  |
Less short-term lease liability |  | 75,885 |  |  | 1,132 |  |  | 989 |  |  | 78,006 |  |  |  |  |
Long-term lease liability |  | $ | 263,329 |  |  | $ | 1,335 |  |  | $ | 7,278 |  |  | $ | 271,942 |  |  |  |  |

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + 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 -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479773/842-30-50-12 + Details
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