Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

Leases (Tables)

12 Months Ended

Jun. 30, 2022

Lessee, Operating Lease, Asset and Liabilities [Table Text Block]

The following table summarizes the balance sheet classification of the Company’s operating leases, amounts of right of use assets and lease liabilities, the weighted average remaining lease term, and the weighted average discount rate for the Company’s operating leases (asset and liability amounts are in thousands):


			As of
			June 30,
	Balance Sheet Classification		2022
Operating leases:
Operating lease right of use assets⁽¹⁾		Right of Use Asset	$	65,556

Current operating lease liabilities⁽¹⁾		Operating lease liabilities current	$	11,928
Noncurrent operating lease liabilities⁽¹⁾		Operating lease liabilities		58,133
Total operating lease liabilities			$	70,061

Weighted average remaining lease term (in years):				7.88

Weighted average discount rate:				3.98	%

(1)

The right of use asset, current operating lease liabilities, and noncurrent lease liabilities on the Consolidated Balance Sheet exclude a definitive agreement entered into by the Company in November 2021 for a 74,000 square foot facility in Centennial, Colorado for the next 12.5 years with approximate annual rental impact of $0.9 million. Construction is underway and once complete, the commencement of the lease will occur, which is expected to be in the first half of fiscal 2023. The facility replaces a current leased facility in the same location that will terminate upon completion of construction of the new facility.

Lessee, Operating Lease, Cash Flow Information [Table Text Block]

The following table summarizes the cash paid for amounts included in the measurement of operating lease liabilities and right of use assets obtained in exchange for new operating lease liabilities for the year ended June 30, 2022 (in thousands):


	Year ended
	June 30,
	2022
Cash amounts paid on operating lease liabilities⁽¹⁾	$	14,950

Right of use assets obtained in exchange for lease liabilities		8,225

(1)

Total cash paid for the Company’s operating leases during the year ended June 30, 2022 include cash amounts paid on operating lease liabilities and variable lease expenses. Cash flow impacts from right of use assets and lease liabilities are presented net on the cash flow statement in changes in other operating activity.

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The following table summarizes payments by date for the Company’s operating leases, which is then reconciled to our total lease obligation (in thousands):


	June 30, 2022
	Operating
	Leases
2023	$	14,241
2024		12,639
2025		11,504
2026		10,141
2027		8,324
Thereafter		25,433
Total	$	82,282
Less: Amounts representing interest		12,221
Total Lease obligations	$	70,061