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Finance and Operating Leases (Tables)
9 Months Ended
Mar. 31, 2023
Finance and Operating Leases  
Schedule of present value of the minimum lease payments on finance leases

    

March 31, 2023

 

June 30, 2022

    

(in thousands)

2023

$

12,384

$

38,600

2024

36,460

24,816

2025

16,112

4,468

2026

4,858

22

Total minimum payments

69,814

67,906

Less: imputed interest

(2,784)

(1,629)

Finance lease liability

67,030

66,277

Less: current portion of finance lease liability

(40,971)

(37,389)

Long-term finance lease liability

$

26,059

$

28,888

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

    

    

    

March 31, 2023

 

June 30, 2022

(in thousands)

2023

$

4,139

$

15,120

2024

16,115

16,638

2025

15,436

16,168

2026

12,051

12,900

2027

8,518

8,797

Thereafter

27,455

27,447

Total minimum payments

83,714

97,070

Less: imputed interest

(7,243)

(9,113)

Operating lease liability

76,471

87,957

Less: current portion of operating lease liability

(14,176)

(12,830)

Long-term operating lease liability

$

62,295

$

75,127

Schedule of expected sublease income

    

    

    

March 31, 2023

 

June 30, 2022

(in thousands)

2023

$

392

$

1,396

2024

836

665

2025

455

412

2026

139

140

Total sublease income

$

1,822

$

2,613

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

Three Months Ended March 31, 

Nine Months Ended March 31, 

2023

  

2022

2023

  

2022

(in thousands)

Lease cost

Finance lease cost:

Amortization of right-of-use assets

$

9,853

$

8,812

$

29,804

$

25,800

Interest on lease liabilities

609

473

1,504

1,334

Instructional costs and services:

Operating lease cost

2,837

3,964

9,191

11,830

Short-term lease cost

24

16

79

51

Sublease income

(265)

(251)

(817)

(830)

Selling, general, and administrative expenses:

Operating lease cost

584

1,631

1,756

5,074

Short-term lease cost

53

39

193

48

Sublease income

(123)

(158)

(283)

(469)

Total lease cost

$

13,572

$

14,526

$

41,427

$

42,838

Other information

Cash paid for amounts included in the measurement of lease liabilities

Operating cash flows from operating leases

$

(2,636)

$

(5,237)

$

(8,602)

$

(15,899)

Financing cash flows from finance leases

(11,300)

(9,175)

(31,238)

(23,919)

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

4,213

1,698

29,425

22,579

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

1,116

576

7,921

Weighted-average remaining lease term - finance leases

1.84

yrs.

2.08

yrs.

Weighted-average remaining lease term - operating leases

6.25

yrs.

6.63

yrs.

Weighted-average discount rate - finance leases

3.66

%

2.44

%

Weighted-average discount rate - operating leases

2.78

%

2.75

%