Finance and Operating Leases (Tables)

3 Months Ended

Sep. 30, 2024

Finance and Operating Leases

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

	September 30, 2024		June 30, 2024
	(in thousands)
2025	$	32,299	$	31,655
2026		35,368		19,880
2027		23,179		7,691
2028		5,300		82
Total minimum payments		96,146		59,308
Less: imputed interest		(6,019)		(3,710)
Finance lease liability		90,127		55,598
Less: current portion of finance lease liability		(39,133)		(29,146)
Long-term finance lease liability	$	50,994	$	26,452

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

	September 30, 2024		June 30, 2024
	(in thousands)
2025	$	10,647	$	14,263
2026		12,441		12,361
2027		8,788		8,705
2028		7,798		7,713
2029		7,613		7,599
Thereafter		12,378		12,381
Total minimum payments		59,665		63,022
Less: imputed interest		(4,703)		(5,082)
Operating lease liability		54,962		57,940
Less: current portion of operating lease liability		(12,636)		(12,748)
Long-term operating lease liability	$	42,326	$	45,192

Schedule of expected sublease income

	September 30, 2024		June 30, 2024
	(in thousands)
2025	$	262	$	455
2026		139		139
Total sublease income	$	401	$	594

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

	Three Months Ended September 30,
	2024			2023
	(in thousands)
Lease cost
Finance lease cost:
Amortization of right-of-use assets	$	7,072		$	8,842
Interest on lease liabilities		778			517
Instructional costs and services:
Operating lease cost		2,340			2,558
Short-term lease cost		13			13
Sublease income		(66)			(132)
Selling, general, and administrative expenses:
Operating lease cost		1,126			2,199
Short-term lease cost		23			56
Sublease income		(123)			(123)
Total lease cost	$	11,163		$	13,930
Other information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	(3,259)		$	(3,619)
Financing cash flows from finance leases		(8,747)			(11,721)
Right-of-use assets obtained in exchange for new finance lease liabilities		40,839			17,843
Right-of-use assets obtained in exchange for new operating lease liabilities		282			625
Weighted-average remaining lease term - finance leases		1.96	yrs.		1.68	yrs.
Weighted-average remaining lease term - operating leases		5.51	yrs.		5.96	yrs.
Weighted-average discount rate - finance leases		5.81	%		4.67	%
Weighted-average discount rate - operating leases		2.93	%		2.84	%