Finance and Operating Leases (Tables)

9 Months Ended

Mar. 31, 2024

Finance and Operating Leases

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

	March 31, 2024		June 30, 2023
	(in thousands)
2024	$	9,884	$	37,056
2025		29,942		16,691
2026		18,635		5,457
2027		6,490		60
Total minimum payments		64,951		59,264
Less: imputed interest		(4,040)		(2,365)
Finance lease liability		60,911		56,899
Less: current portion of finance lease liability		(30,991)		(35,621)
Long-term finance lease liability	$	29,920	$	21,278

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

	March 31, 2024		June 30, 2023
	(in thousands)
2024	$	3,720	$	16,341
2025		14,288		15,668
2026		12,378		12,290
2027		8,716		8,753
2028		7,714		7,727
Thereafter		19,978		19,975
Total minimum payments		66,794		80,754
Less: imputed interest		(5,523)		(6,880)
Operating lease liability		61,271		73,874
Less: current portion of operating lease liability		(12,853)		(14,449)
Long-term operating lease liability	$	48,418	$	59,425

Schedule of expected sublease income

	March 31, 2024		June 30, 2023
	(in thousands)
2024	$	192	$	836
2025		455		455
2026		139		139
Total sublease income	$	786	$	1,430

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

	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024			2023
	(in thousands)
Lease cost
Finance lease cost:
Amortization of right-of-use assets	$	7,775	$	9,853	$	23,760		$	29,804
Interest on lease liabilities		887		609		1,870			1,504
Instructional costs and services:
Operating lease cost		2,363		2,837		7,284			9,191
Short-term lease cost		10		24		42			79
Sublease income		(66)		(265)		(263)			(817)
Selling, general, and administrative expenses:
Operating lease cost		1,146		584		4,891			1,756
Short-term lease cost		16		53		128			193
Sublease income		(123)		(123)		(368)			(283)
Total lease cost	$	12,008	$	13,572	$	37,344		$	41,427
Other information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	(3,108)	$	(2,636)	$	(11,695)		$	(8,602)
Financing cash flows from finance leases		(9,721)		(11,300)		(32,212)			(31,238)
Right-of-use assets obtained in exchange for new finance lease liabilities		6,220		4,213		32,497			29,425
Right-of-use assets obtained in exchange for new operating lease liabilities		180		—		805			576
Weighted-average remaining lease term - finance leases						2.09	yrs.		1.84	yrs.
Weighted-average remaining lease term - operating leases						5.80	yrs.		6.25	yrs.
Weighted-average discount rate - finance leases						5.45	%		3.66	%
Weighted-average discount rate - operating leases						2.93	%		2.78	%