No t e s t o Co n s o l i d a t e d F i n a n c i a l S t a t eme n t s J u n e 3 0 , 2 0 2 2 a n d 2 0 2 1 19. Leases and Other Commitments The university has operating and finance leases for facilities, equipment, and vehicles. Asset and liability balances related to operating and finance leases on the Consolidated Statements of Financial Position as of June 30 are as follows (in thousands): 2022 2021 Classification on the Consolidated Statement of Financial Position Assets Liabilities Assets Liabilities Operating Leases Operating lease right-of-use assets $ 92,520 $ 83,457 Operating lease liabilities Current 22,490 14,383 Long-term 73,051 72,565 $ 95,541 $ 86,948 Finance Leases Land, buildings, and equipment, net $ 4,876 6,169 Other liabilities Current $ 1,272 1,257 Long-term 3,861 5,133 $ 5,133 $ 6,390 Total $ 97,396 $ 100,674 $ 89,626 $ 93,338 The components of lease expense for the year ended June 30 are as follows (in thousands): Component Classification on Statement of Activities 2022 2021 Operating lease expense Space and occupancy $ 18,524 $ 15,408 Short-term lease expense Space and occupancy 621 535 Variable lease expense Space and occupancy 2,581 2,529 Finance lease expense: Amoritization of right-of-use assets Depreciation and amortization 1,284 1,473 Interest on lease liabilities Interest 104 109 Total lease expenses $ 23,114 $ 20,054 Supplemental cash flow information related to leases as of and for the year ended June 30 is as follows (in thousands): 2022 2021 Right-of-use-assets obtained in exchange for lease obligations: Operating leases $ 26,062 $ 98,040 Finance leases - 7,152 41
RkJQdWJsaXNoZXIy NDE4MDg=