OTHER LONG-TERM LIABILITIES

12 Months Ended

Jun. 30, 2014

Other Long-Term Liabilities [Abstract]

OTHER LONG-TERM LIABILITIES

NOTE 15. OTHER LONG-TERM LIABILITIES

Other long-term liabilities consisted of the following (in thousands):

	June 30,
	2014		2013
Deferred rent, net of current portion	$	31,662	$	28,777
Reserve for unrecognized tax benefits		9,138		6,384
Deferred revenue		8,397		8,356
Accrued post-retirement obligations		5,557		5,180
Interest rate swap agreements		7,774	1,765
Other		825		1,111
Total other long-term liabilities	$	63,353	$	51,573

Deferred rent liabilities result from recording rent expense and incentives for tenant improvements on a straight-line basis over the life of the respective lease.

Accrued post-retirement obligations include projected liabilities for benefits the Company is obligated to provide under a long-term care, a group health, and an executive life insurance plan, each of which is unfunded. Plan benefits are provided to certain current and former executives, their dependents and other eligible employees, as defined. Post-retirement obligations also include accrued benefits under supplemental retirement benefit plans covering certain executives. The expense recorded under these plans was $0.3 million and $0.8 million during the years ended June 30, 2014 and 2013, respectively.

The Company has entered into floating-to-fixed interest rate swap agreements related to a portion of the Company’s floating rate indebtedness (see Note 13). The fair value of the swap agreements as of June 30, 2014 and 2013 is a liability of approximately $7.8 million and $1.8 million, respectively.