Leases (Notes)

9 Months Ended

Mar. 31, 2023

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 April 30, 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 March 31,				Nine Months Ended March 31,
(In thousands)	2023		2022		2023		2022
Operating lease expense	$	1,964	$	1,887	$	5,910	$	5,557
Finance lease expense:
Amortization of finance lease assets	41		41		123		123
Interest on finance lease liabilities	8		11		27		34
Total lease expense	$	2,013	$	1,939	$	6,060	$	5,714

Maturities of lease liabilities are as follows:

	March 31, 2023
(In thousands)	Operating Leases		Finance Leases
2023	$	2,013	$	48
2024	7,963		193
2025	6,786		193
2026	5,701		96
2027	4,250		—
Thereafter	4,186		—
Total lease payments	30,899		530
Less: interest	(4,109)		(46)
Total lease obligations	$	26,790	$	484

Lease term and discount rate:

	March 31, 2023		June 30, 2022
Weighted-average remaining lease terms (in years):
Operating lease	6.1		6.3
Finance lease	2.8		3.5
Weighted-average discount rate:
Operating lease	6.17	%	5.69	%
Finance lease	6.50	%	6.50	%

Other Information:

	Nine Months Ended March 31,
(In thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,830	$	5,138
Operating cash flows from finance leases	27		34
Financing cash flows from finance leases	144		114

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 April 30, 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 March 31,				Nine Months Ended March 31,
(In thousands)	2023		2022		2023		2022
Operating lease expense	$	1,964	$	1,887	$	5,910	$	5,557
Finance lease expense:
Amortization of finance lease assets	41		41		123		123
Interest on finance lease liabilities	8		11		27		34
Total lease expense	$	2,013	$	1,939	$	6,060	$	5,714

Maturities of lease liabilities are as follows:

	March 31, 2023
(In thousands)	Operating Leases		Finance Leases
2023	$	2,013	$	48
2024	7,963		193
2025	6,786		193
2026	5,701		96
2027	4,250		—
Thereafter	4,186		—
Total lease payments	30,899		530
Less: interest	(4,109)		(46)
Total lease obligations	$	26,790	$	484

Lease term and discount rate:

	March 31, 2023		June 30, 2022
Weighted-average remaining lease terms (in years):
Operating lease	6.1		6.3
Finance lease	2.8		3.5
Weighted-average discount rate:
Operating lease	6.17	%	5.69	%
Finance lease	6.50	%	6.50	%

Other Information:

	Nine Months Ended March 31,
(In thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,830	$	5,138
Operating cash flows from finance leases	27		34
Financing cash flows from finance leases	144		114