Leases (Tables)

12 Months Ended

Jun. 30, 2022

Summary of ROU Assets and Lease Liabilities

The following table summarizes the ROU assets and lease liabilities recorded on the Company’s consolidated balance sheets as of June 30, 2022 and 2021:


	Line Item in the Company’s Consolidated Balance Sheets	June 30, 2022		June 30, 2021
Right-of-use assets:
Operating leases	Right-of-use lease assets	$	446,499	$	280,579
Lease liabilities:
Operating leases, current	Operating lease liabilities, current	65,310		73,423
Operating leases, noncurrent	Operating lease liabilities, non-current	427,971		233,556
Total lease liabilities		$	493,281	$	306,979

Lease, Cost

The following table summarizes the activity recorded within the Company’s consolidated and combined statements of operations for Fiscal Years 2022, 2021 and 2020:


	Line Item in the Company’s Consolidated and Combined Statements of Operations	Years Ended June 30,
		2022		2021		2020
Operating lease cost	Direct operating expenses	$	43,023	$	31,074	$	32,348
Operating lease cost	Selling, general and administrative expenses	30,053		26,438		25,081
Short-term lease cost	Direct operating expenses	—		—		348

Variable lease cost	Direct operating expenses	7,567		2,930		5,339
Variable lease cost	Selling, general and administrative expenses	61		57		61
Total lease cost		$	80,704	$	60,499	$	63,177

Supplemental cash flow information related to operating leases is as follows:


	Years Ended June 30,
	2022		2021		2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	71,660	$	55,271	$	60,920
Lease assets obtained in exchange for new lease obligations	$	341,934	47,790		16,765

Operaing Lease Maturity Schedule

The future lease payments related to this new lease for the next five fiscal years and thereafter are expected to be as follows:



Fiscal Year 2022	$	—
Fiscal Year 2023	—
Fiscal Year 2024	—
Fiscal Year 2025	10,121
Fiscal Year 2026	16,276
Thereafter (Fiscal Year 2027 to Fiscal Year 2046)	877,996
Total lease payments	$	904,393

Maturities of operating lease liabilities as of June 30, 2022 are as follows:


Fiscal year ending June 30, 2023	$	69,070
Fiscal year ending June 30, 2024	78,175
Fiscal year ending June 30, 2025	56,577
Fiscal year ending June 30, 2026	33,704
Fiscal year ending June 30, 2027	42,932
Thereafter	456,503
Total lease payments	736,961
Less imputed interest	243,680
Total lease liabilities	$	493,281

The weighted average remaining lease term and weighted average discount rate for our operating leases are as follows:


	June 30,
	2022		2021
Weighted average remaining lease term (in years)	12.7		7.09
Weighted average discount rate	6.47	%	7.85	%