Finance and Operating Leases (Tables)
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3 Months Ended |
Sep. 30, 2024 |
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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, 2024 | | June 30, 2024 | | | | (in thousands) | 2025 | | $ | 32,299 | | $ | 31,655 | 2026 | | | 35,368 | | | 19,880 | 2027 | | | 23,179 | | | 7,691 | 2028 | | | 5,300 | | | 82 | Total minimum payments | | | 96,146 | | | 59,308 | Less: imputed interest | | | (6,019) | | | (3,710) | Finance lease liability | | | 90,127 | | | 55,598 | Less: current portion of finance lease liability | | | (39,133) | | | (29,146) | Long-term finance lease liability | | $ | 50,994 | | $ | 26,452 |
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| Schedule of future minimum lease payments under non-cancelable operating leases |
| | | | | | | | | | | | | | | | September 30, 2024 | | June 30, 2024 | | | | (in thousands) | 2025 | | $ | 10,647 | | $ | 14,263 | 2026 | | | 12,441 | | | 12,361 | 2027 | | | 8,788 | | | 8,705 | 2028 | | | 7,798 | | | 7,713 | 2029 | | | 7,613 | | | 7,599 | Thereafter | | | 12,378 | | | 12,381 | Total minimum payments | | | 59,665 | | | 63,022 | Less: imputed interest | | | (4,703) | | | (5,082) | Operating lease liability | | | 54,962 | | | 57,940 | Less: current portion of operating lease liability | | | (12,636) | | | (12,748) | Long-term operating lease liability | | $ | 42,326 | | $ | 45,192 |
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| Schedule of expected sublease income |
| | | | | | | | | | | | | | | | September 30, 2024 | | June 30, 2024 | | | | (in thousands) | 2025 | | $ | 262 | | $ | 455 | 2026 | | | 139 | | | 139 | Total sublease income | | $ | 401 | | $ | 594 |
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| Schedule of lease cost, weighted-average remaining lease term, weighted-average discount rate |
| | | | | | | | | | Three Months Ended September 30, | | | | 2024 | | 2023 | | | | | (in thousands) | | Lease cost | | | | | | | | | | | | | | | | Finance lease cost: | | | | | | | | Amortization of right-of-use assets | | $ | 7,072 | | $ | 8,842 | | Interest on lease liabilities | | | 778 | | | 517 | | Instructional costs and services: | | | | | | | | Operating lease cost | | | 2,340 | | | 2,558 | | Short-term lease cost | | | 13 | | | 13 | | Sublease income | | | (66) | | | (132) | | Selling, general, and administrative expenses: | | | | | | | | Operating lease cost | | | 1,126 | | | 2,199 | | Short-term lease cost | | | 23 | | | 56 | | Sublease income | | | (123) | | | (123) | | Total lease cost | | $ | 11,163 | | $ | 13,930 | | | | | | | | | | Other information | | | | | | | | Cash paid for amounts included in the measurement of lease liabilities | | | | | | | | Operating cash flows from operating leases | | $ | (3,259) | | $ | (3,619) | | Financing cash flows from finance leases | | | (8,747) | | | (11,721) | | Right-of-use assets obtained in exchange for new finance lease liabilities | | | 40,839 | | | 17,843 | | Right-of-use assets obtained in exchange for new operating lease liabilities | | | 282 | | | 625 | | Weighted-average remaining lease term - finance leases | | | 1.96 | yrs. | | 1.68 | yrs. | Weighted-average remaining lease term - operating leases | | | 5.51 | yrs. | | 5.96 | yrs. | Weighted-average discount rate - finance leases | | | 5.81 | % | | 4.67 | % | Weighted-average discount rate - operating leases | | | 2.93 | % | | 2.84 | % |
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