FINANCING ARRANGEMENTS:

6 Months Ended

Dec. 31, 2018

FINANCING ARRANGEMENTS:

The Company’s long-term debt consists of the following:



	Maturity Date	Interest Rate	December 31, 2018		June 30, 2018
	(Fiscal Year)		(Dollars in thousands)
Revolving credit facility	2023	3.77%	$	90,000	$	90,000

Revolving Credit Facility

As of December 31, 2018 and June 30, 2018, the Company has $90.0 million of outstanding borrowings under a $295.0 million revolving credit facility. At December 31, 2018 and June 30, 2018, the Company has outstanding standby letters of credit under the revolving credit facility of $23.0 million and $1.5 million, respectively, primarily related to the Company's self-insurance program. The unused available credit under the facility was $182.0 million and $203.5 million, respectively. Amounts outstanding under the revolving credit facility are due at maturity in March 2023.

The Company’s long-term financial liability consists of the following:



	Maturity Date	Interest Rate	December 31, 2018		June 30, 2018
	(Fiscal Year)		(Dollars in thousands)
Long-term lease liability	2033	3.50%	$	17,646	$	—

Sale and Leaseback Transaction

In November 2018, the Company sold its Salt Lake City Distribution Center to Nearon Enterprises, LLC (Nearon), an unrelated party. The Company is leasing the property back from Nearon for 15 years with the option to renew three times for five year periods. As the Company plans to lease the property for more than 75% of its economic life, the sales proceeds received from the buyer-lessor are recognized as a financial liability. This financial liability is reduced based on the rental payments made under the lease that are allocated between principal and interest. As of December 31, 2018, the current portion of the Company’s financial liability was $0.6 million. As of December 31, 2018, future lease payments due are as follows:



Remainder of 2019	$	585
2020	1,111
2021	1,063
2022	1,042
2023	1,021
Thereafter	13,374
Total	$	18,196

The Company was in compliance with all covenants and requirements of its financing arrangements as of and during the three and six months ended December 31, 2018.