Leases (Notes)

6 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

Note 3. Leases

The Company has entered into leases for building facilities, vehicles and other equipment. The Company’s leases have remaining contractual terms through January 31, 2030, 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.

The components of lease expense are as follows:

	Three Months Ended December 31,				Six Months Ended December 31,
(In thousands)	2022		2021		2022		2021
Operating lease expense	$	1,986	$	1,888	$	3,946	$	3,670
Finance lease expense:
Amortization of finance lease assets	41		41		82		82
Interest on finance lease liabilities	9		11		18		23
Total lease expense	$	2,036	$	1,940	$	4,046	$	3,775

Maturities of lease liabilities are as follows:

	December 31, 2022
(In thousands)	Operating Leases		Finance Leases
2023	$	4,001	$	96
2024	7,829		193
2025	6,650		193
2026	5,567		96
2027	4,127		—
Thereafter	4,008		—
Total lease payments	32,182		578
Less: interest	(4,270)		(54)
Total lease obligations	$	27,912	$	524

Lease term and discount rate:

	December 31, 2022		June 30, 2022
Weighted-average remaining lease terms (in years):
Operating lease	6.3		6.3
Finance lease	3.0		3.5
Weighted-average discount rate:
Operating lease	6.00	%	5.69	%
Finance lease	6.50	%	6.50	%

Other Information:

	Six Months Ended December 31,
(In thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,882	$	3,351
Operating cash flows from finance leases	18		73
Financing cash flows from finance leases	96		23

Leases

Note 3. Leases

The Company has entered into leases for building facilities, vehicles and other equipment. The Company’s leases have remaining contractual terms through January 31, 2030, 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.

The components of lease expense are as follows:

	Three Months Ended December 31,				Six Months Ended December 31,
(In thousands)	2022		2021		2022		2021
Operating lease expense	$	1,986	$	1,888	$	3,946	$	3,670
Finance lease expense:
Amortization of finance lease assets	41		41		82		82
Interest on finance lease liabilities	9		11		18		23
Total lease expense	$	2,036	$	1,940	$	4,046	$	3,775

Maturities of lease liabilities are as follows:

	December 31, 2022
(In thousands)	Operating Leases		Finance Leases
2023	$	4,001	$	96
2024	7,829		193
2025	6,650		193
2026	5,567		96
2027	4,127		—
Thereafter	4,008		—
Total lease payments	32,182		578
Less: interest	(4,270)		(54)
Total lease obligations	$	27,912	$	524

Lease term and discount rate:

	December 31, 2022		June 30, 2022
Weighted-average remaining lease terms (in years):
Operating lease	6.3		6.3
Finance lease	3.0		3.5
Weighted-average discount rate:
Operating lease	6.00	%	5.69	%
Finance lease	6.50	%	6.50	%

Other Information:

	Six Months Ended December 31,
(In thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,882	$	3,351
Operating cash flows from finance leases	18		73
Financing cash flows from finance leases	96		23