Basis of Presentation - Cash, Cash Equivalents, and Restricted Cash (Policies)

3 Months Ended

Sep. 30, 2021

Cash and Cash Equivalents, Unrestricted Cash and Cash Equivalents, Policy

Cash, Cash Equivalents and Restricted Cash

The ABL Facility requires us to maintain a minimum of $25.0 million of restricted cash at all times. Since this cash must be restricted through the maturity date of the ABL Facility, which is beyond one year, we have classified this restricted cash as non-current in our Condensed Consolidated Balance Sheets. In addition, we must maintain a restricted cash balance of $2.6 million in support of the purchase card program that is associated with our prior card administrator. We have included this restricted cash in current assets in our Condensed Consolidated Balance Sheets since we expect to dissolve the prior purchase card program during fiscal 2022.

The following table provides a reconciliation of cash, cash equivalents and restricted cash in the Condensed Consolidated Balance Sheets to the total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows (in thousands):


	September 30, 2021		June 30, 2021
Cash and cash equivalents	$	34,678	$	83,878
Restricted cash, current	2,600		—
Restricted cash, non-current	25,000		—
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	$	62,278	$	83,878