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Leases (Tables)
12 Months Ended
Jul. 02, 2022
Leases [Abstract]  
Components of Lease Cost

The components of lease cost are as follows (in thousands):

 

 

Fiscal Years Ended

 

 

 

July 2,

 

 

June 30,

 

 

 

2022

 

 

2021

 

Operating lease cost

 

$

67,724

 

 

$

62,617

 

Variable lease cost

 

 

9,568

 

 

 

10,924

 

Amortization of right-of-use assets

 

 

124

 

 

 

210

 

Interest on lease liabilities

 

 

1

 

 

 

8

 

Total lease cost

 

$

77,417

 

 

$

73,759

 

Schedule of Additional Information Related to Leases

The table below presents additional information related to the Company’s leases as follows:

 

 

Fiscal Years Ended

 

 

 

July 2,

 

 

June 30,

 

 

 

2022

 

 

2021

 

Weighted average remaining lease term (in years)

 

 

 

 

 

 

Operating leases

 

 

4.1

 

 

 

4.6

 

Finance leases

 

 

 

 

 

0.7

 

Weighted average discount rate

 

 

 

 

 

 

Operating leases

 

 

9.1

%

 

 

8.5

%

Finance leases

 

 

0.0

%

 

 

2.4

%

Schedule of Other Information Related to Leases Including Supplemental Disclosures of Cash Flow Information

Other information related to leases, including supplemental disclosures of cash flow information, is as follows (in thousands):

 

 

Fiscal Years Ended

 

 

 

July 2,

 

 

June 30,

 

 

 

2022

 

 

2021

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

75,132

 

 

$

64,496

 

Operating cash flows from finance leases

 

$

1

 

 

$

9

 

Financing cash flows from finance leases

 

$

124

 

 

$

217

 

Right-of-use assets obtained in exchange for operating lease liabilities

 

$

15,522

 

 

$

(107,497

)

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities were as follows as of July 2, 2022 (in thousands):

 

Operating
Leases

 

Fiscal year:

 

 

2023

$

65,051

 

2024

 

48,755

 

2025

 

35,474

 

2026

 

22,246

 

2027

 

16,604

 

Thereafter

 

15,023

 

Total lease payments

$

203,153

 

Less: Interest

 

34,969

 

Total lease liabilities

$

168,184

 

Less: Current lease liabilities

 

52,258

 

Non-current lease liabilities

$

115,926