XML 33 R23.htm IDEA: XBRL DOCUMENT v3.21.4
Finance and Operating Leases (Tables)
6 Months Ended
Dec. 31, 2021
Finance and Operating Leases  
Schedule of present value of the minimum lease payments on finance leases

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December 31, 2021

 

June 30, 2021

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(in thousands)

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2022

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$

18,857

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$

28,715

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2023

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37,266

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28,105

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2024

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23,461

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14,303

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2025

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3,439

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—

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Total minimum payments

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83,023

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​

71,123

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Less: imputed interest

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(2,331)

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​

(2,219)

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Finance lease liability

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80,692

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​

68,904

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Less: current portion of finance lease liability

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(36,080)

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(27,336)

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Long-term finance lease liability

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$

44,612

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$

41,568

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Schedule of future minimum lease payments under non-cancelable operating leases

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December 31, 2021

 

June 30, 2021

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(in thousands)

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2022

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$

9,237

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$

23,030

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2023

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16,432

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16,204

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2024

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15,752

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15,032

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2025

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15,258

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14,222

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2026

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12,300

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11,247

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Thereafter

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35,267

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27,432

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Total minimum payments

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104,246

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107,167

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Less: imputed interest

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(9,993)

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(9,060)

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Operating lease liability

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94,253

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98,107

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Less: current portion of operating lease liability

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(15,233)

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(20,649)

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Long-term operating lease liability

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$

79,020

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$

77,458

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Schedule of expected sublease income

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December 31, 2021

 

June 30, 2021

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(in thousands)

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2022

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$

877

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$

1,496

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2023

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1,117

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797

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2024

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387

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66

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2025

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133

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—

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Total sublease income

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$

2,514

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$

2,359

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Schedule of lease cost, weighted-average remaining lease term, weighted-average discount rate

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Three Months Ended December 31, 

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Six Months Ended December 31, 

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2021

  

2020

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2021

  

2020

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(in thousands)

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Lease cost

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Finance lease cost:

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Amortization of right-of-use assets

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$

9,368

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$

8,341

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$

16,988

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$

13,178

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Interest on lease liabilities

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445

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155

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862

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273

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Instructional costs and services:

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Operating lease cost

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3,931

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3,935

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7,866

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7,881

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Short-term lease cost

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16

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94

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35

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157

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Sublease income

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(247)

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(251)

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(579)

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(503)

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Selling, general, and administrative expenses:

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Operating lease cost

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1,777

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1,644

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3,443

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3,231

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Short-term lease cost

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4

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221

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9

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443

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Sublease income

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(182)

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(196)

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(311)

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(424)

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Total lease cost

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$

15,112

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$

13,943

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$

28,313

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$

24,236

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Other information

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Cash paid for amounts included in the measurement of lease liabilities

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Operating cash flows from operating leases

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$

(5,341)

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$

(5,199)

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$

(10,662)

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$

(10,364)

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Financing cash flows from finance leases

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​

(7,724)

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(5,786)

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(14,744)

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(11,455)

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Right-of-use assets obtained in exchange for new finance lease liabilities

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6,898

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30,111

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20,881

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46,865

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Right-of-use assets obtained in exchange for new operating lease liabilities

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—

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377

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6,805

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589

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Weighted-average remaining lease term - finance leases

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2.27

yrs.

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2.84

yrs.

Weighted-average remaining lease term - operating leases

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6.73

yrs.

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6.81

yrs.

Weighted-average discount rate - finance leases

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2.40

%

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2.49

%

Weighted-average discount rate - operating leases

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2.76

%

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2.76

%