v3.26.1
Income Taxes (Tables)
 12 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Schedule of Income Tax (Expense) Benefit
Income tax (expense) benefit is comprised of the following components:
Years Ended June 30,
202620252024
Current (expense):
Federal$(18,528)$(2,327)$(97)
State and local(22,124)(11,969)(91)
(40,652)(14,296)(188)
Deferred (expense) benefit:
Federal(1,368)(10,861)47,607 
State and local1,230 (2,973)44,590 
(138)(13,834)92,197 
Income tax (expense) benefit$(40,790)$(28,130)$92,009 
Schedule of Effective Income Tax Rate Reconciliation The income tax expense differed from the amount derived by applying the statutory federal rate to income from operations before income taxes principally due to the effect of the following items:
Year Ended June 30, 2026
TotalPercentage
Income from operations before income taxes$106,976 
Federal tax expense at statutory federal rate (22,465)21 %
State and local income taxes, net of federal tax benefit (a)
(16,706)16 %
Nontaxable or nondeductible items
Executive officers’ compensation(4,536)4 %
Other nondeductible expenses(592)— %
Tax credits
Federal Insurance Contributions Act credit1,255 (1)%
Excess tax benefit related to share-based payment awards2,147 (2)%
Other, net107 — %
Income tax expense$(40,790)38 %
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(a)     State and local taxes in New York State and New York City, respectively, made up the majority (greater than 50 percent) of the tax effect in this category.
As previously disclosed for Fiscal Years 2025 and 2024, prior to the adoption of ASU 2023-09, the income tax (expense) benefit differs from the amount derived by applying the statutory federal rate to income from operations before income taxes principally due to the effect of the following items:
Years Ended June 30,
20252024
Federal tax expense at statutory federal rate $(13,768)$(10,981)
State income taxes, net of federal tax expense(11,686)(9,039)
Change in valuation allowance— 108,506 
Return to provision(142)4,487 
Federal tax credits
1,172 1,139 
Change in the estimated applicable tax rate used to determine deferred taxes233 280 
Nondeductible executive officers’ compensation (3,590)(2,385)
Other nondeductible expenses(343)(413)
Excess tax benefit related to share-based payment awards12 412 
Other, net(18)3 
Income tax (expense) benefit$(28,130)$92,009 
Schedule of Deferred Tax Assets and Liabilities
The tax effects of temporary differences which gave rise to significant portions of the deferred tax assets and liabilities at June 30, 2026 and 2025 were as follows:
June 30,
20262025
Deferred tax assets:
Accrued employee benefits$18,693 $15,311 
Restricted stock units and stock options6,859 6,434 
Deferred revenue2,462 2,929 
Right-of-use lease assets and lease liabilities, net53,815 40,461 
Deferred interest12,918 23,371 
Property and equipment43,861 41,441 
Investments1,666 1,372 
Other, net7,190 9,930 
Total deferred tax assets$147,464 $141,249 
Deferred tax liabilities:
Intangibles and other assets$(38,482)$(40,395)
Prepaid expenses(7,330)(6,460)
Straight-line rent(48,167)(40,322)
Total deferred tax liabilities$(93,979)$(87,177)
Deferred tax assets, net$53,485 $54,072 
Schedule of Income Tax Payments
Income tax payments for Fiscal Year 2026 are comprised of the following components:
Year Ended June 30, 2026
Federal$15,400 
State and local:
New York State9,606
New York City9,842
Other261
19,709
Total income tax payments$35,109