Leases (Notes)

9 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

Leases

The Company has entered into leases for building facilities, vehicles and other equipment. The Company’s leases have remaining contractual terms through September 30, 2028, some of which have options to extend the lease for up to 10 years. For purposes of calculating operating lease liabilities, lease terms are deemed not to include options to extend the lease renewal until it is reasonably certain that the Company will exercise that option. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Supplemental unaudited consolidated balance sheet information related to leases is as follows:

(In thousands)	Classification	March 31, 2022		June 30, 2021
Operating lease assets	Right-of-use operating lease assets	$	28,011	$	26,254
Finance lease assets	Property, plant and equipment, net	615		739
Total lease assets		$	28,626	$	26,993
Operating lease liabilities - current	Operating lease liabilities - current	7,311		6,262
Finance lease liabilities - current	Other current liabilities	193		192
Operating lease liabilities - noncurrent	Operating lease liabilities - noncurrent	21,175		20,049
Finance lease liabilities -noncurrent	Other long-term liabilities	446		563
Total lease liabilities		$	29,125	$	27,066

The components of lease expense are as follows:

		Three Months Ended March 31,				Nine Months Ended March 31,
(In thousands)	Classification	2022		2021		2022		2021
Operating lease expense	General and administrative expenses and cost of goods sold	$	1,887	$	1,838	$	5,557	$	5,415
Finance lease expense:
Amortization of finance lease assets	General and administrative expenses	41		54		123		63
Interest on finance lease liabilities	Interest expense	11		13		34		13
Total lease expense		$	1,939	$	1,905	$	5,714	$	5,491

Maturities of lease liabilities are as follows:

	March 31, 2022
(In thousands)	Operating Leases		Finance Leases
2022	$	1,839	$	47
2023	7,264		193
2024	6,985		193
2025	5,727		193
2026	4,525		96
Thereafter	6,707		—
Total lease payments	33,047		722
Less: interest	(4,561)		(83)
Total lease obligations	$	28,486	$	639

Lease term and discount rate:

	March 31, 2022		June 30, 2021
Weighted-average remaining lease terms (in years):
Operating lease	6.5		7.3
Finance lease	3.8		4.5
Weighted-average discount rate:
Operating lease	5.69	%	5.23	%
Finance lease	6.50	%	6.50	%

Other Information:

	Nine Months Ended March 31,
(In thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,138	$	5,807
Operating cash flows from finance leases	34		13
Financing cash flows from finance leases	144		44

Leases

Leases

The Company has entered into leases for building facilities, vehicles and other equipment. The Company’s leases have remaining contractual terms through September 30, 2028, some of which have options to extend the lease for up to 10 years. For purposes of calculating operating lease liabilities, lease terms are deemed not to include options to extend the lease renewal until it is reasonably certain that the Company will exercise that option. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Supplemental unaudited consolidated balance sheet information related to leases is as follows:

(In thousands)	Classification	March 31, 2022		June 30, 2021
Operating lease assets	Right-of-use operating lease assets	$	28,011	$	26,254
Finance lease assets	Property, plant and equipment, net	615		739
Total lease assets		$	28,626	$	26,993
Operating lease liabilities - current	Operating lease liabilities - current	7,311		6,262
Finance lease liabilities - current	Other current liabilities	193		192
Operating lease liabilities - noncurrent	Operating lease liabilities - noncurrent	21,175		20,049
Finance lease liabilities -noncurrent	Other long-term liabilities	446		563
Total lease liabilities		$	29,125	$	27,066

The components of lease expense are as follows:

		Three Months Ended March 31,				Nine Months Ended March 31,
(In thousands)	Classification	2022		2021		2022		2021
Operating lease expense	General and administrative expenses and cost of goods sold	$	1,887	$	1,838	$	5,557	$	5,415
Finance lease expense:
Amortization of finance lease assets	General and administrative expenses	41		54		123		63
Interest on finance lease liabilities	Interest expense	11		13		34		13
Total lease expense		$	1,939	$	1,905	$	5,714	$	5,491

Maturities of lease liabilities are as follows:

	March 31, 2022
(In thousands)	Operating Leases		Finance Leases
2022	$	1,839	$	47
2023	7,264		193
2024	6,985		193
2025	5,727		193
2026	4,525		96
Thereafter	6,707		—
Total lease payments	33,047		722
Less: interest	(4,561)		(83)
Total lease obligations	$	28,486	$	639

Lease term and discount rate:

	March 31, 2022		June 30, 2021
Weighted-average remaining lease terms (in years):
Operating lease	6.5		7.3
Finance lease	3.8		4.5
Weighted-average discount rate:
Operating lease	5.69	%	5.23	%
Finance lease	6.50	%	6.50	%

Other Information:

	Nine Months Ended March 31,
(In thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,138	$	5,807
Operating cash flows from finance leases	34		13
Financing cash flows from finance leases	144		44