LEASES (Tables)

3 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule of Real Estate Taxes and Other Occupancy Expenses

Total rent includes the following:

	Three Months Ended September 30,
	2023		2022
	(Dollars in thousands)
Office rent	$	825	$	872
Lease termination (benefit) expense	(13)		458
Lease liability benefit (1)	(128)		(602)
Franchise salon rent (2)	(337)		(53)
Company-owned salon rent	750		1,078
Total	$	1,097	$	1,753

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(1)Upon termination of previously impaired leases, the Company derecognizes the corresponding ROU assets and lease liabilities, which results in a net gain. In addition, the Company recognizes a benefit from lease liabilities decreasing in excess of previously impaired ROU assets for ongoing leases that were previously impaired.

(2)The credit in franchise salon rent is related to settlements with landlords for less than previously accrued.

Lessor, Future Operating Lease Commitments

September 30, 2023, 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 (dollars in thousands):

Fiscal Year	Leases for Franchise Salons		Leases for Company-owned Salons		Corporate Leases		Total Operating Lease Payments		Sublease Income to be Received from Franchisees		Net Rent Commitments
Remainder of 2024	$	68,629	$	1,044	$	978	$	70,651	$	(68,629)	$	2,022
2025	77,882		674		1,334		79,890		(77,882)		2,008
2026	64,605		454		1,367		66,426		(64,605)		1,821
2027	54,830		229		1,401		56,460		(54,830)		1,630
2028	46,254		218		1,436		47,908		(46,254)		1,654
Thereafter	70,459		56		2,981		73,496		(70,459)		3,037
Total future obligations	$	382,659	$	2,675	$	9,497	$	394,831	$	(382,659)	$	12,172
Less amounts representing interest	43,445		208		1,230		44,883
Present value of lease liability	$	339,214	$	2,467	$	8,267	$	349,948
Less short-term lease liability	75,885		1,132		989		78,006
Long-term lease liability	$	263,329	$	1,335	$	7,278	$	271,942

Lessee, Future Operating Lease Commitments

September 30, 2023, 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 (dollars in thousands):

Fiscal Year	Leases for Franchise Salons		Leases for Company-owned Salons		Corporate Leases		Total Operating Lease Payments		Sublease Income to be Received from Franchisees		Net Rent Commitments
Remainder of 2024	$	68,629	$	1,044	$	978	$	70,651	$	(68,629)	$	2,022
2025	77,882		674		1,334		79,890		(77,882)		2,008
2026	64,605		454		1,367		66,426		(64,605)		1,821
2027	54,830		229		1,401		56,460		(54,830)		1,630
2028	46,254		218		1,436		47,908		(46,254)		1,654
Thereafter	70,459		56		2,981		73,496		(70,459)		3,037
Total future obligations	$	382,659	$	2,675	$	9,497	$	394,831	$	(382,659)	$	12,172
Less amounts representing interest	43,445		208		1,230		44,883
Present value of lease liability	$	339,214	$	2,467	$	8,267	$	349,948
Less short-term lease liability	75,885		1,132		989		78,006
Long-term lease liability	$	263,329	$	1,335	$	7,278	$	271,942