XML 37 R23.htm IDEA: XBRL DOCUMENT v3.21.2
LEASES
12 Months Ended
Jun. 30, 2021
Leases [Abstract]  
LEASES

NOTE 16. LEASES

All of the Company’s leases are operating leases. The current portion of operating lease liabilities is included in other accrued expenses and current liabilities in our consolidated balance sheets. Lease balances in our consolidated balance sheet are as follows (in thousands):

 

 

 

June 30,

 

 

 

2021

 

 

2020

 

Operating lease right-of-use assets

 

$

356,887

 

 

$

330,767

 

 

 

 

 

 

 

 

 

 

Operating lease liabilities, current

 

 

61,280

 

 

 

67,549

 

Operating lease liabilities, noncurrent

 

 

363,302

 

 

 

309,680

 

 

 

$

424,582

 

 

$

377,229

 

 

The Company’s total lease cost is recorded primarily within indirect costs and selling expenses and had the following impact on the consolidated statement of operations (in thousands):

 

 

 

Fiscal Year Ended June 30,

 

 

 

2021

 

 

2020

 

Operating lease cost

 

$

89,254

 

 

$

86,039

 

Short-term and variable lease cost

 

 

15,160

 

 

 

14,777

 

Sublease income

 

 

(379

)

 

 

(1,201

)

Total lease cost

 

$

104,035

 

 

$

99,615

 

 

The Company’s future minimum lease payments under non-cancelable operating leases at June 30, 2021 are as follows (in thousands):  

 

Year ending June 30:

 

 

 

 

2022

 

$

72,160

 

2023

 

 

78,333

 

2024

 

 

71,953

 

2025

 

 

63,032

 

2026

 

 

53,540

 

Thereafter

 

 

127,808

 

Total undiscounted lease payments

 

 

466,826

 

Less:  imputed interest

 

 

(42,244

)

Total discounted lease liabilities

 

$

424,582

 

 

The weighted-average remaining lease term (in years) and weighted-average discount rate was 6.79 years and 2.76 percent, respectively.

Cash paid for operating leases was $85.2 million for the year ended June 30, 2021.  During the year ended June 30, 2021 operating lease liabilities arising from obtaining new ROU assets was $102.8 million, which includes all noncash changes arising from new or remeasured operating lease arrangements.