Quarterly report pursuant to Section 13 or 15(d)

Finance Lease Obligation (Tables)

v3.21.1
Finance Lease Obligation (Tables)
9 Months Ended
Mar. 31, 2021
Finance Lease Obligation [Member]  
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, 

 

 

2021

Finance lease cost:

 

 

  

Amortization of right-of-use assets

 

$

1,236

Interest on lease liabilities

 

 

1,836

Operating lease cost

 

 

135

Total lease cost

 

$

3,207

 

 

 

  

Other Information

 

 

  

Cash paid for amounts included in the measurement lease liabilities:

 

 

  

Operating cash flows from operating lease

 

$

135

Financing cash flows from finance lease obligation

 

$

223

 

Schedule of finance lease and weighted average information

 

 

 

 

 

 

    

March 31, 

 

 

 

2021

 

Finance lease right-of-use assets

 

$

26,380

 

Finance lease obligation - current portion

 

$

318

 

Finance lease obligation - non-current portion

 

$

31,766

 

Weighted average remaining lease term - finance lease

 

 

28.93

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 finance lease obligation are due as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

Fiscal period ending on March 31:

    

Principal

    

Interest

    

Total

2022

 

$

318

 

$

2,432

 

$

2,750

2023

 

 

343

 

 

2,407

 

 

2,750

2024

 

 

370

 

 

2,380

 

 

2,750

2025

 

 

398

 

 

2,352

 

 

2,750

2026

 

 

430

 

 

2,320

 

 

2,750

Thereafter

 

 

30,225

 

 

35,775

 

 

66,000

 

 

 

  

 

 

  

 

 

  

Total minimum lease payments

 

 

32,084

 

$

47,666

 

$

79,750

Less: current portion

 

 

(318)

 

 

  

 

 

  

Long-term portion of minimum lease obligations

 

$

31,766