Lease Commitments

12 Months Ended

Jun. 30, 2014

The Company had commitments as of June 30, 2014 under non-cancelable operating leases for office facilities and equipment. The Company recognizes escalating rental payments on a straight-line basis over the terms of the related leases in order to provide level recognition of rental expense in accordance with ASC Subtopic 840-20, Operating Leases. Such rental expense in excess of the cash paid is recognized as deferred rent as of June 30, 2014. Rental expense, net of sublease income, charged to operations in fiscal years 2014, 2013 and 2012 was approximately $14,864, $13,245 and $12,770, which included rent expense associated with related party lease agreements of $1,275, $1,132, and $1,002, respectively.

Minimum operating lease obligations payable in future fiscal years are as follows:



2015	$	13,631
2016	12,711
2017	10,566
2018	7,745
2019	5,359
2020 and thereafter	15,436
	$	65,448

Included in future minimum lease payments are non-cancelable payments due to related parties of $1,153 in 2015, $1,134 in 2016, $918 in 2017, $744 in 2018, $744 in 2019 and $372 in 2020 and thereafter.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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