Quarterly report pursuant to Section 13 or 15(d)

Finance Lease Obligation (Tables)

v3.20.1
Finance Lease Obligation (Tables)
9 Months Ended
Mar. 31, 2020
Finance Lease Obligation  
Schedule of components of lease expense and supplemental balance sheet information related to the finance lease obligation

The following tables present the components of lease expense and supplemental balance sheet information related to the finance lease obligation (in thousands):

 

 

 

 

 

 

 

Nine Months 

 

 

Ended

 

 

March 31, 

 

 

2020

Finance Lease Cost:

 

 

  

Amortization of right-of-use assets

 

$

1,246

Interest on lease liabilities

 

 

1,851

Operating Lease Cost

 

 

109

Total Lease Cost

 

$

3,206

 

 

 

 

 

Other Information

    

 

  

Cash paid for amounts included in the measurement lease liabilities:

 

 

 

Operating cash flows from operating lease

 

$

109

Financing cash flows from finance lease obligation

 

$

 —

 

 

 

 

 

 

 

    

March 31, 

 

 

 

2020

 

Finance lease right-of-use assets

 

$

28,031

 

Finance lease obligation – current portion

 

$

295

 

Finance lease obligation - non-current portion

 

$

32,084

 

Weighted-average remaining lease term - finance lease

 

 

29.93 years

 

Weighted-average discount rate - Finance lease obligation

 

 

7.608

%

 

Schedule of future minimum payments under the finance lease obligation

Future minimum payments under the capitalized lease obligation are due as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

Fiscal period ending on March 31 :

    

Principal

    

Interest

    

Total

2021

 

$

295

 

$

2,455

 

$

2,750

2022

 

 

318

 

 

2,432

 

 

2,750

2023

 

 

343

 

 

2,407

 

 

2,750

2024

 

 

370

 

 

2,380

 

 

2,750

2025

 

 

399

 

 

2,351

 

 

2,750

Thereafter

 

 

30,654

 

 

38,096

 

 

68,750

 

 

 

 

 

 

 

 

 

 

Total minimum lease payments

 

 

32,379

 

$

50,121

 

$

82,500

Less: current portion

 

 

(295)

 

 

  

 

 

  

Long-term portion of minimum lease obligations

 

$

32,084