Lease Commitments

12 Months Ended

Jun. 30, 2012

The Company had commitments as of June 30, 2012 under non-cancelable operating leases for office facilities and equipment. The Company recognizes escalating rental payments on a straight-line basis over the terms of the related leases in order to provide level recognition of rental expense in accordance with ASC Subtopic 840-20, Operating Leases. Such rental expense in excess of the cash paid is recognized as deferred rent as of June 30, 2012. Rental expense, net of sublease income, charged to operations in fiscal years 2012, 2011 and 2010 was approximately $12,770, $10,293 and $11,384, respectively.

Minimum operating lease obligations payable in future fiscal years are as follows:



2013	$	10,964
2014	9,208
2015	7,794
2016	6,389
2017	4,607
2018 and thereafter	10,352
	$	49,314

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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