Finance and Operating Leases (Tables)
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3 Months Ended |
Sep. 30, 2023 |
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| Finance and Operating Leases |
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| Schedule of present value of the minimum lease payments on finance leases |
| | | | | | | | | | | | | | | | | | September 30, 2023 | | June 30, 2023 | | | | | (in thousands) | | | | | | | | | | 2024 | | $ | 29,760 | | $ | 37,056 | | 2025 | | | 23,824 | | | 16,691 | | 2026 | | | 12,515 | | | 5,457 | | 2027 | | | 2,423 | | | 60 | | Total minimum payments | | | 68,522 | | | 59,264 | | Less: imputed interest | | | (3,816) | | | (2,365) | | Finance lease liability | | | 64,706 | | | 56,899 | | Less: current portion of finance lease liability | | | (35,065) | | | (35,621) | | Long-term finance lease liability | | $ | 29,641 | | $ | 21,278 | |
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| Schedule of future minimum lease payments under non-cancelable operating leases |
| | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2023 | | June 30, 2023 | | | | | (in thousands) | | | | | | | | | | 2024 | | $ | 12,788 | | $ | 16,341 | | 2025 | | | 14,347 | | | 15,668 | | 2026 | | | 12,436 | | | 12,290 | | 2027 | | | 8,775 | | | 8,753 | | 2028 | | | 7,748 | | | 7,727 | | Thereafter | | | 19,978 | | | 19,975 | | Total minimum payments | | | 76,072 | | | 80,754 | | Less: imputed interest | | | (6,364) | | | (6,880) | | Operating lease liability | | | 69,708 | | | 73,874 | | Less: current portion of operating lease liability | | | (14,717) | | | (14,449) | | Long-term operating lease liability | | $ | 54,991 | | $ | 59,425 | |
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| Schedule of expected sublease income |
| | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2023 | | June 30, 2023 | | | | | (in thousands) | | | | | | | | | | 2024 | | $ | 577 | | $ | 836 | | 2025 | | | 455 | | | 455 | | 2026 | | | 139 | | | 139 | | Total sublease income | | $ | 1,171 | | $ | 1,430 | |
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| Schedule of lease cost, weighted-average remaining lease term, weighted-average discount rate |
| | | | | | | | | | | Three Months Ended September 30, | | | | | 2023 | | 2022 | | | | | | (in thousands) | | Lease cost | | | | | | | | | | | | | | | | | | Finance lease cost: | | | | | | | | | Amortization of right-of-use assets | | $ | 8,842 | | $ | 9,934 | | | Interest on lease liabilities | | | 517 | | | 388 | | | Instructional costs and services: | | | | | | | | | Operating lease cost | | | 2,558 | | | 3,715 | | | Short-term lease cost | | | 13 | | | 24 | | | Sublease income | | | (132) | | | (282) | | | Selling, general, and administrative expenses: | | | | | | | | | Operating lease cost | | | 2,199 | | | 586 | | | Short-term lease cost | | | 56 | | | 94 | | | Sublease income | | | (123) | | | (80) | | | Total lease cost | | $ | 13,930 | | $ | 14,379 | | | | | | | | | | | | | | | | | | | | | Other information | | | | | | | | | | | | | | | | | | Cash paid for amounts included in the measurement of lease liabilities | | | | | | | | | Operating cash flows from operating leases | | $ | (3,619) | | $ | (2,605) | | | Financing cash flows from finance leases | | | (11,721) | | | (9,314) | | | Right-of-use assets obtained in exchange for new finance lease liabilities | | | 17,843 | | | 19,907 | | | Right-of-use assets obtained in exchange for new operating lease liabilities | | | 625 | | | 576 | | | Weighted-average remaining lease term - finance leases | | | 1.68 | yrs. | | 1.82 | | yrs. | Weighted-average remaining lease term - operating leases | | | 5.96 | yrs. | | 6.51 | | yrs. | Weighted-average discount rate - finance leases | | | 4.67 | % | | 3.00 | | % | Weighted-average discount rate - operating leases | | | 2.84 | % | | 2.77 | | % |
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