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LEASES (Tables)
 6 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule of Real Estate Taxes and Other Occupancy Expenses Total Rent includes the following:
Three Months Ended December 31,Six Months Ended December 31,
2020201920202019
(Dollars in thousands)
Minimum rent$10,484 $15,926 $20,205 $35,067 
Percentage rent based on sales2 550 75 1,847 
Real estate taxes and other expenses2,497 2,860 5,158 6,170 
Lease termination expense (1)1,087 38 6,638 79 
Lease liability benefit (2)(2,226)— (8,286)— 
Corporate segment rent653 720 1,375 1,005 
Franchise segment non-reimbursable rent405 401 962 591 
Total$12,902 $20,495 $26,127 $44,759 
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(1)During the three and six months ended December 31, 2020, the Company terminated the leases for 98 and 229 company-owned salons, respectively, before the lease end dates. During the three and six months ended December 31, 2019, the Company terminated the leases for 20 and 57 company-owned salons, respectively, before the lease end dates. For the three and six months ended December 31, 2020, lease termination fees include $2.2 and $4.6 million, respectively, of early termination payments to close salons before lease end date and relieve the Company of future lease obligations. For the three and six months ended December 31, 2020, lease termination fees also include $(1.1) and $2.0 million, respectively, of adjustments to accrued future lease payments for underperforming salons. The early termination payments made in the six months ended December 31, 2020 will save the Company approximately $4.3 million in future minimum rent plus associated real estate taxes and other lease expenses.
(2)For the three and six months ended December 31, 2020, upon termination of previously impaired leases, the Company derecognized ROU assets of $3.0 and $10.1 million, respectively, and lease liabilities of $4.2 and $14.5 million, respectively, that resulted in a net gain of $1.2 and $4.4 million, respectively. In addition, the Company recognized a benefit from lease liabilities decreasing in excess of previously impaired ROU assets. The benefit recognized was $1.0 and $3.9 million in the three and six months ended December 31, 2020, respectively.
Lessor, Future Operating Lease Commitments
As of December 31, 2020, future operating lease commitments, including one renewal option for leases expected to be renewed, to be paid and received by the Company were as follows:
Fiscal YearLeases for Franchise SalonsLeases for Company-owned SalonsCorporate LeasesTotal Operating Lease PaymentsSublease Income To Be Received From FranchiseesNet Rent Commitments
Remainder of 2021$61,792 $15,257 $914 $77,963 $(61,792)$16,171 
2022114,759 25,415 1,483 141,657 (114,759)26,898 
2023101,513 19,539 1,520 122,572 (101,513)21,059 
202488,919 14,647 1,558 105,124 (88,919)16,205 
202575,170 8,328 1,598 85,096 (75,170)9,926 
Thereafter201,054 18,670 7,824 227,548 (201,054)26,494 
Total future obligations$643,207 $101,856 $14,897 $759,960 $(643,207)$116,753 
Less amounts representing interest79,438 9,401 2,542 91,381 
Present value of lease liabilities$563,769 $92,455 $12,355 $668,579 
Less current lease liabilities100,685 25,796 1,168 127,649 
Long-term lease liabilities$463,084 $66,659 $11,187 $540,930 
Lessee, Future Operating Lease Commitments
As of December 31, 2020, future operating lease commitments, including one renewal option for leases expected to be renewed, to be paid and received by the Company were as follows:
Fiscal YearLeases for Franchise SalonsLeases for Company-owned SalonsCorporate LeasesTotal Operating Lease PaymentsSublease Income To Be Received From FranchiseesNet Rent Commitments
Remainder of 2021$61,792 $15,257 $914 $77,963 $(61,792)$16,171 
2022114,759 25,415 1,483 141,657 (114,759)26,898 
2023101,513 19,539 1,520 122,572 (101,513)21,059 
202488,919 14,647 1,558 105,124 (88,919)16,205 
202575,170 8,328 1,598 85,096 (75,170)9,926 
Thereafter201,054 18,670 7,824 227,548 (201,054)26,494 
Total future obligations$643,207 $101,856 $14,897 $759,960 $(643,207)$116,753 
Less amounts representing interest79,438 9,401 2,542 91,381 
Present value of lease liabilities$563,769 $92,455 $12,355 $668,579 
Less current lease liabilities100,685 25,796 1,168 127,649 
Long-term lease liabilities$463,084 $66,659 $11,187 $540,930