Finance and Operating Leases (Tables)

12 Months Ended

Jun. 30, 2023

Finance and Operating Leases

Schedule of present value of the minimum lease payments on finance leases

	Year Ended June 30,
	2023		2022
	(in thousands)
2023	$	—	$	38,600
2024		37,056		24,816
2025		16,691		4,468
2026		5,457		22
2027		60		—
Total minimum payments		59,264		67,906
Less: imputed interest		(2,365)		(1,629)
Finance lease liability		56,899		66,277
Less: current portion of finance lease liability		(35,621)		(37,389)
Long-term finance lease liability	$	21,278	$	28,888

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

	Year Ended June 30,
	2023		2022
	(in thousands)
2023	$	—	$	15,120
2024		16,341		16,638
2025		15,668		16,168
2026		12,290		12,900
2027		8,753		8,797
2028		7,727		—
Thereafter		19,975		27,447
Total minimum payments		80,754		97,070
Less: imputed interest		(6,880)		(9,113)
Operating lease liability		73,874		87,957
Less: current portion of operating lease liability		(14,449)		(12,830)
Long-term operating lease liability	$	59,425	$	75,127

Schedule of expected sublease income

	Year Ended June 30,
	2023		2022
	(in thousands)
2023	$	—	$	1,396
2024		836		665
2025		455		412
2026		139		140
2027		—		—
Total sublease income	$	1,430	$	2,613

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

	Year Ended June 30,
	2023			2022			2021
	(in thousands)
Lease cost
Finance lease cost:
Amortization of right-of-use assets	$	39,312		$	34,719		$	28,647
Interest on lease liabilities		2,080			1,769			1,111
Instructional costs and services:
Operating lease cost		12,028			15,718			15,877
Short-term lease cost		103			67			181
Sublease income		(1,081)			(955)			(920)
Selling, general, and administrative expenses:
Operating lease cost		4,616			6,253			6,681
Short-term lease cost		259			125			970
Sublease income		(406)			(367)			(984)
Total lease cost	$	56,911		$	57,329		$	51,563
Other information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	(12,243)		$	(20,742)		$	(21,025)
Financing cash flows from finance leases		(42,956)			(33,011)			(24,315)
Right-of-use assets obtained in exchange for new finance lease liabilities		30,514			23,232			66,861
Right-of-use assets obtained in exchange for new operating lease liabilities		1,619			10,589			1,643
Weighted-average remaining lease term - finance leases		1.72	yrs.		1.85	yrs.		2.52	yrs.
Weighted-average remaining lease term - operating leases		6.10	yrs.		6.54	yrs.		6.58	yrs.
Weighted-average discount rate - finance leases		3.86	%		2.47	%		2.45	%
Weighted-average discount rate - operating leases		2.81	%		2.75	%		2.75	%