Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.2
Leases (Tables)
12 Months Ended
Jun. 30, 2020
Lessee Disclosure [Abstract]  
Schedule of Maturities of Operating Lease Liabilities

The following table sets forth the Company’s future minimum lease payments under operating lease liabilities recorded on the Company’s condensed consolidated balance sheet as of June 30, 2020. The table below does not include commitments that are contingent on events or other factors that are currently uncertain or unknown.

Fiscal years ending

Maturity of

Operating Lease

Liabilities

(in thousands)

 

2021

$

1,832

2022

1,609

2023

1,199

2024

392

2025

192

Thereafter

500

Total lease payments

$

5,724

Less: amounts representing interest

395

Present value of lease liabilities

$

5,329

Less: current portion

1,672

Long-term portion

$

3,657

Schedule of Operating Leases

The table below presents additional information related to the Company’s operating leases (in thousands):

Operating lease cost

Twelve months

ended June 30,

2020

 

Operating lease cost (1)

$

1,935

Short-term lease cost (1)

190

Variable lease cost (1)

177

Total lease cost

$

2,302

(1) Expenses are classified within selling, general and administrative expenses in the Company’s condensed consolidated statement of operations for the year ended June 30, 2020.

The table below presents lease-related terms and discount rates as of June 30, 2020:

June 30, 2020

Weighted average remaining lease terms

Operating leases

4.0 years

Weighted average discount rate

Operating leases

3.5

%

Schedule of Supplemental Cash Flow Information Related to Company's Long-Term Operating Lease Liabilities

The table below presents supplemental cash flow information related to the Company’s long-term operating lease liabilities as of June 30, 2020 (in thousands):

Twelve months

ended

June 30,

2020

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

$

1,935

Operating lease right-of-use assets obtained in exchange for operating lease liabilities:

$

1,366

Schedule of Minimum Future Rental Commitments

The future minimum lease payments receivable for sales type leases are as follows (in thousands):

Fiscal years ending June 30,

Total Minimum Lease Payments to be Received

Amortization of Unearned Income

Net Investment in Sales Type Leases

 

2021

$

1,615

$

941

$

674

2022

1,190

644

546

2023

873

434

439

2024

551

256

295

2025

193

98

95

Thereafter

235

105

130

$

2,179

*

* Excludes residual values of $1.8 million.

Schedule of Future Minimum Lease Payments Receivable

Minimum future rental commitments for all of the Company’s real property leases, including those with related parties, as of June 30, 2019, which continues to be presented in accordance with ASC Topic 840, Leases (“ASC 840” or “Topic 840”) approximate the following (in thousands):

Fiscal years ending June 30,

 

2021

$

1,554

2022

1,332

2023

1,031

2024

179

Total minimum lease payments

$

4,096