| Leases |
Leases Total lease expense included in selling, general and administrative expenses in our unaudited condensed consolidated statements of income for the three and nine months ended June 30, 2025, and 2024 is as follows (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Nine Months Ended June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | Operating lease expense – fixed payments | $ | 1,078 | | | $ | 1,292 | | | $ | 3,266 | | | $ | 3,876 | | | Variable lease expense | 435 | | | 412 | | | 1,194 | | | 1,273 | | Short-term and other lease expense (includes $103 and $117 recorded in advertising and marketing for the three months ended June 30, 2025, and 2024, respectively, and $294 and $342 for the nine months ended June 30, 2025, and 2024, respectively; and $140 and $159 recorded in repairs and maintenance for the three months ended June 30, 2025, and 2024, respectively, and $415 and $447 for the nine months ended June 30, 2025, and 2024, respectively; see Note 5) | 337 | | | 365 | | | 995 | | | 1,042 | | | Sublease income | — | | | — | | | — | | | — | | | Total lease expense, net | $ | 1,850 | | | $ | 2,069 | | | $ | 5,455 | | | $ | 6,191 | | | | | | | | | | | Other information: | | | | | | | | | Operating cash outflows from operating leases | $ | 1,916 | | | $ | 2,036 | | | $ | 5,695 | | | $ | 6,085 | | | Weighted average remaining lease term – operating leases | | | | | 9.1 years | | 10.1 years | | Weighted average discount rate – operating leases | | | | | 5.8 | % | | 5.8 | % |
11. Leases—continued Future maturities of operating lease liabilities as of June 30, 2025, are as follows (in thousands): | | | | | | | | | | | | | | | | | | | Principal Payments | | Interest Payments | | Total Payments | | July 2025 - June 2026 | $ | 3,249 | | | $ | 1,661 | | | $ | 4,910 | | | July 2026 - June 2027 | 3,370 | | | 1,466 | | | 4,836 | | | July 2027 - June 2028 | 2,865 | | | 1,281 | | | 4,146 | | | July 2028 - June 2029 | 2,851 | | | 1,112 | | | 3,963 | | | July 2029 - June 2030 | 2,535 | | | 947 | | | 3,482 | | | Thereafter | 16,550 | | | 2,685 | | | 19,235 | | | $ | 31,420 | | | $ | 9,152 | | | $ | 40,572 | |
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