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LEASES (Tables)
 9 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Schedule of Real Estate Taxes and Other Occupancy Expenses Total Rent includes the following:
Three Months Ended March 31,Nine Months Ended March 31,
2021202020212020
(Dollars in thousands)
Minimum rent$8,400 $13,571 $28,605 $48,638 
Percentage rent based on sales3 298 78 2,145 
Real estate taxes and other expenses1,989 3,672 7,147 9,842 
Lease termination (benefit) expense (1)(154)44 6,484 123 
Lease liability benefit (2)(3,009)— (11,295)— 
Corporate segment rent671 904 2,046 1,909 
Franchise segment non-reimbursable rent101 176 1,063 767 
Total$8,001 $18,665 $34,128 $63,424 
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(1)During the three and nine months ended March 31, 2021, the Company terminated the leases for 15 and 244 company-owned salons, respectively, before the lease end dates. During the three and nine months ended March 31, 2020, the Company terminated the leases for 3 and 60 company-owned salons, respectively, before the lease end dates. For the three and nine months ended March 31, 2021, lease termination fees include $0.3 and $4.9 million, respectively, of early termination payments to close salons before the lease end date to relieve the Company of future lease obligations. For the three and nine months ended March 31, 2021, lease termination fees also include $(0.5) and $1.5 million, respectively, of adjustments to accrue future lease payments for salons that are no longer operating. The early termination payments made in the nine months ended March 31, 2021 decreased the future minimum rent liability by $9.5 million plus saved the Company from the associated real estate taxes and other lease expenses.
(2)For the three and nine months ended March 31, 2021, upon termination of previously impaired leases, the Company derecognized ROU assets of $3.2 and $13.3 million, respectively, and lease liabilities of $5.2 and $19.7 million, respectively, that resulted in a net gain of $2.0 and $6.4 million, respectively. In addition, the Company recognized a benefit from lease liabilities decreasing in excess of previously impaired ROU assets. The benefit recognized was $1.0 and $4.9 million in the three and nine months ended March 31, 2021, respectively.
Lessor, Future Operating Lease Commitments
As of March 31, 2021, future operating lease commitments, including one renewal option for leases expected to be renewed, to be paid and received by the Company were as follows (in thousands):
Fiscal YearLeases for Franchise SalonsLeases for Company-owned SalonsCorporate LeasesTotal Operating Lease PaymentsSublease Income To Be Received From FranchiseesNet Rent Commitments
Remainder of 2021$30,985 $6,537 $976 $38,498 $(30,985)$7,513 
2022116,803 22,514 3,566 142,883 (116,803)26,080 
2023103,418 16,936 3,550 123,904 (103,418)20,486 
202491,108 11,803 3,616 106,527 (91,108)15,419 
202577,655 5,911 3,683 87,249 (77,655)9,594 
Thereafter216,156 12,559 27,331 256,046 (216,156)39,890 
Total future obligations$636,125 $76,260 $42,722 $755,107 $(636,125)$118,982 
Less amounts representing interest78,998 6,462 10,189 95,649 
Present value of lease liabilities$557,127 $69,798 $32,533 $659,458 
Less current lease liabilities99,351 21,705 2,168 123,224 
Long-term lease liabilities$457,776 $48,093 $30,365 $536,234 
Lessee, Future Operating Lease Commitments
As of March 31, 2021, future operating lease commitments, including one renewal option for leases expected to be renewed, to be paid and received by the Company were as follows (in thousands):
Fiscal YearLeases for Franchise SalonsLeases for Company-owned SalonsCorporate LeasesTotal Operating Lease PaymentsSublease Income To Be Received From FranchiseesNet Rent Commitments
Remainder of 2021$30,985 $6,537 $976 $38,498 $(30,985)$7,513 
2022116,803 22,514 3,566 142,883 (116,803)26,080 
2023103,418 16,936 3,550 123,904 (103,418)20,486 
202491,108 11,803 3,616 106,527 (91,108)15,419 
202577,655 5,911 3,683 87,249 (77,655)9,594 
Thereafter216,156 12,559 27,331 256,046 (216,156)39,890 
Total future obligations$636,125 $76,260 $42,722 $755,107 $(636,125)$118,982 
Less amounts representing interest78,998 6,462 10,189 95,649 
Present value of lease liabilities$557,127 $69,798 $32,533 $659,458 
Less current lease liabilities99,351 21,705 2,168 123,224 
Long-term lease liabilities$457,776 $48,093 $30,365 $536,234