RIGHT OF USE ASSET AND LEASE LIABILITIES (Tables)

9 Months Ended

Mar. 31, 2020

For most leases, the Company is required to pay real estate taxes and other occupancy expenses. Total rent expense includes the following:


	For the Three Months Ended March 31,						For the Nine Months Ended March 31,
	2020		2019		2020		2019
	(Dollars in thousands)
Minimum rent	$	14,970	$	26,325	$	51,468	85,099
Percentage rent based on sales	298		1,373		2,145		3,476
Real estate taxes and other expenses	3,975		4,634		10,389		14,377
Total	$	19,243	$	32,332	$	64,002	$	102,952

As of March 31, 2020, future operating lease commitments to be paid and received by the Company were as follows:


Fiscal Year	Leases for Franchise Salons		Leases for Company-owned Salons		Corporate Leases		Total Operating Lease Payments		Sublease Income To Be Received From Franchisees		Net Rent Commitments
Remainder of 2020	$	31,959	$	14,484	$	150	$	46,593	$	(31,959)	$	14,634
2021	121,831		51,700		1,781		175,312		(121,831)		53,481
2022	111,239		42,916		1,410		155,565		(111,239)		44,326
2023	100,687		37,374		1,447		139,508		(100,687)		38,821
2024	90,582		33,096		1,484		125,162		(90,582)		34,580
Thereafter	257,841		92,091		9,339		359,271		(257,841)		101,430
Total future obligations	$	714,139	$	271,661	$	15,611	$	1,001,411	$	(714,139)	$	287,272
Less amounts representing interest	89,274		32,514		2,896		124,684
Present value of lease liabilities	$	624,865	$	239,147	$	12,715	$	876,727
Less current lease liabilities	102,310		46,171		1,001		149,482
Long-term lease liabilities	$	522,555	$	192,976	$	11,714	$	727,245

As of March 31, 2020, future operating lease commitments to be paid and received by the Company were as follows:


Fiscal Year	Leases for Franchise Salons		Leases for Company-owned Salons		Corporate Leases		Total Operating Lease Payments		Sublease Income To Be Received From Franchisees		Net Rent Commitments
Remainder of 2020	$	31,959	$	14,484	$	150	$	46,593	$	(31,959)	$	14,634
2021	121,831		51,700		1,781		175,312		(121,831)		53,481
2022	111,239		42,916		1,410		155,565		(111,239)		44,326
2023	100,687		37,374		1,447		139,508		(100,687)		38,821
2024	90,582		33,096		1,484		125,162		(90,582)		34,580
Thereafter	257,841		92,091		9,339		359,271		(257,841)		101,430
Total future obligations	$	714,139	$	271,661	$	15,611	$	1,001,411	$	(714,139)	$	287,272
Less amounts representing interest	89,274		32,514		2,896		124,684
Present value of lease liabilities	$	624,865	$	239,147	$	12,715	$	876,727
Less current lease liabilities	102,310		46,171		1,001		149,482
Long-term lease liabilities	$	522,555	$	192,976	$	11,714	$	727,245