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Finance and Operating Leases (Tables)
3 Months Ended
Sep. 30, 2022
Finance and Operating Leases  
Schedule of present value of the minimum lease payments on finance leases

    

September 30, 2022

 

June 30, 2022

    

(in thousands)

2023

$

34,326

$

38,600

2024

32,333

24,816

2025

11,984

4,468

2026

2,047

22

Total minimum payments

80,690

67,906

Less: imputed interest

(2,662)

(1,629)

Finance lease liability

78,028

66,277

Less: current portion of finance lease liability

(43,627)

(37,389)

Long-term finance lease liability

$

34,401

$

28,888

Schedule of future minimum lease payments under non-cancelable operating leases

    

    

    

September 30, 2022

 

June 30, 2022

(in thousands)

2023

$

11,443

$

15,120

2024

16,039

16,638

2025

15,332

16,168

2026

12,025

12,900

2027

8,518

8,797

Thereafter

27,455

27,447

Total minimum payments

90,812

97,070

Less: imputed interest

(8,343)

(9,113)

Operating lease liability

82,469

87,957

Less: current portion of operating lease liability

(13,356)

(12,830)

Long-term operating lease liability

$

69,113

$

75,127

Schedule of expected sublease income

    

    

    

September 30, 2022

 

June 30, 2022

(in thousands)

2023

$

1,047

$

1,396

2024

665

665

2025

412

412

2026

140

140

Total sublease income

$

2,264

$

2,613

Schedule of lease cost, weighted-average remaining lease term, weighted-average discount rate

Three Months Ended September 30, 

2022

  

2021

(in thousands)

Lease cost

Finance lease cost:

Amortization of right-of-use assets

$

9,934

$

7,620

Interest on lease liabilities

388

417

Instructional costs and services:

Operating lease cost

3,715

3,935

Short-term lease cost

24

18

Sublease income

(282)

(332)

Selling, general, and administrative expenses:

Operating lease cost

586

1,667

Short-term lease cost

94

4

Sublease income

(80)

(129)

Total lease cost

$

14,379

$

13,200

Other information

Cash paid for amounts included in the measurement of lease liabilities

Operating cash flows from operating leases

$

(2,605)

$

(5,321)

Financing cash flows from finance leases

(9,314)

(7,020)

Right-of-use assets obtained in exchange for new finance lease liabilities

19,907

13,983

Right-of-use assets obtained in exchange for new operating lease liabilities

576

6,805

Weighted-average remaining lease term - finance leases

1.82

yrs.

2.31

yrs.

Weighted-average remaining lease term - operating leases

6.51

yrs.

6.80

yrs.

Weighted-average discount rate - finance leases

3.00

%

2.37

%

Weighted-average discount rate - operating leases

2.77

%

2.79

%