RIGHT OF USE ASSET AND LEASE LIABILITIES (Tables)

3 Months Ended

Sep. 30, 2019

Leases [Abstract]

Schedule of Real Estate Taxes and Other Occupancy Expenses

For most leases, the Company is required to pay real estate taxes and other occupancy expenses. Total rent expense includes the following:

	For the three months ended
	September 30,
	2019		2018
	(dollars in thousands)
Minimum rent	$	19,561	$	29,915
Percentage rent based on sales	1,298		1,052
Real estate taxes and other expenses	3,405		5,011
	$	24,264	$	35,978

Lessor, Future Operating Lease Commitments

As of September 30, 2019, future operating lease commitments to be paid and received by the Company were as follows:

Fiscal Year	Leases for Franchise Salons		Leases for Company-Owned Salons		Corporate Leases		Total Operating Leases Payments		Sublease Income To Be Received From Franchisees			Net Rent Commitments
Remainder of 2020	$	56,059	$	91,328	$	1,368	$	148,755	$	(56,059	)	$	92,696
2021	67,285		111,002		1,294		179,581		(67,285		)	112,296
2022	59,388		99,345		172		158,905		(59,388		)	99,517
2023	53,293		88,686		177		142,156		(53,293		)	88,863
2024	48,224		79,070		183		127,477		(48,224		)	79,253
Thereafter	125,524		194,746		821		321,091		(125,524		)	195,567
Total future obligations	$	409,773	$	664,177	$	4,015	$	1,077,965	$	(409,773	)	$	668,192
Less amount representing interest	31,329		103,420		675		135,424
Present value of lease liabilities	378,444		560,757		3,340		942,541
Less: current lease liabilities	68,725		91,414		1,268		161,407
Long-term lease liabilities	$	309,719	$	469,343	$	2,072	$	781,134

As of September 30, 2019, the Company had executed the lease for its new corporate headquarters which commences on October 1, 2019. The total expected lease payments of $13.5 million are not reflected in the tables above. The lease term is 10.75 years.

Lessee, Future Operating Lease Commitments

As of September 30, 2019, future operating lease commitments to be paid and received by the Company were as follows:

Fiscal Year	Leases for Franchise Salons		Leases for Company-Owned Salons		Corporate Leases		Total Operating Leases Payments		Sublease Income To Be Received From Franchisees			Net Rent Commitments
Remainder of 2020	$	56,059	$	91,328	$	1,368	$	148,755	$	(56,059	)	$	92,696
2021	67,285		111,002		1,294		179,581		(67,285		)	112,296
2022	59,388		99,345		172		158,905		(59,388		)	99,517
2023	53,293		88,686		177		142,156		(53,293		)	88,863
2024	48,224		79,070		183		127,477		(48,224		)	79,253
Thereafter	125,524		194,746		821		321,091		(125,524		)	195,567
Total future obligations	$	409,773	$	664,177	$	4,015	$	1,077,965	$	(409,773	)	$	668,192
Less amount representing interest	31,329		103,420		675		135,424
Present value of lease liabilities	378,444		560,757		3,340		942,541
Less: current lease liabilities	68,725		91,414		1,268		161,407
Long-term lease liabilities	$	309,719	$	469,343	$	2,072	$	781,134