Leases (Notes)

3 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases

Note 3. Leases

The Company has entered into leases for building facilities, vehicles and other equipment. The Company’s leases have remaining contractual terms through September 30, 2028, some of which have options to extend the lease for up to 10 years. For purposes of calculating operating lease liabilities, lease terms are deemed not to include options to extend the lease renewal until it is reasonably certain that the Company will exercise that option. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The components of lease expense are as follows:

	Three Months Ended September 30,
(In thousands)	2022		2021
Operating lease expense	$	1,960	$	1,782
Finance lease expense:
Amortization of finance lease assets	41		41
Interest on finance lease liabilities	10		12
Total lease expense	$	2,011	$	1,835

Maturities of lease liabilities are as follows:

	September 30, 2022
(In thousands)	Operating Leases		Finance Leases
2023	$	5,838	$	144
2024	7,524		193
2025	6,333		193
2026	5,238		96
2027	3,784		—
Thereafter	3,060		—
Total lease payments	31,777		626
Less: interest	(4,114)		(63)
Total lease obligations	$	27,663	$	563

Lease term and discount rate:

	September 30, 2022		June 30, 2022
Weighted-average remaining lease terms (in years):
Operating lease	6.0		6.3
Finance lease	3.3		3.5
Weighted-average discount rate:
Operating lease	5.88	%	5.69	%
Finance lease	6.50	%	6.50	%

Other Information:

	Three Months Ended September 30,
(In thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,920	$	1,615
Operating cash flows from finance leases	10		41
Financing cash flows from finance leases	48		12

Leases

Note 3. Leases

The Company has entered into leases for building facilities, vehicles and other equipment. The Company’s leases have remaining contractual terms through September 30, 2028, some of which have options to extend the lease for up to 10 years. For purposes of calculating operating lease liabilities, lease terms are deemed not to include options to extend the lease renewal until it is reasonably certain that the Company will exercise that option. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The components of lease expense are as follows:

	Three Months Ended September 30,
(In thousands)	2022		2021
Operating lease expense	$	1,960	$	1,782
Finance lease expense:
Amortization of finance lease assets	41		41
Interest on finance lease liabilities	10		12
Total lease expense	$	2,011	$	1,835

Maturities of lease liabilities are as follows:

	September 30, 2022
(In thousands)	Operating Leases		Finance Leases
2023	$	5,838	$	144
2024	7,524		193
2025	6,333		193
2026	5,238		96
2027	3,784		—
Thereafter	3,060		—
Total lease payments	31,777		626
Less: interest	(4,114)		(63)
Total lease obligations	$	27,663	$	563

Lease term and discount rate:

	September 30, 2022		June 30, 2022
Weighted-average remaining lease terms (in years):
Operating lease	6.0		6.3
Finance lease	3.3		3.5
Weighted-average discount rate:
Operating lease	5.88	%	5.69	%
Finance lease	6.50	%	6.50	%

Other Information:

	Three Months Ended September 30,
(In thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,920	$	1,615
Operating cash flows from finance leases	10		41
Financing cash flows from finance leases	48		12