Quarterly report pursuant to Section 13 or 15(d)

Finance Lease Obligation (Tables)

v3.21.2
Finance Lease Obligation (Tables)
3 Months Ended
Sep. 30, 2021
Finance Lease Obligation [Abstract]  
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).

    

Three Months Ended

Three Months Ended

September 30, 

September 30, 

2021

2020

Finance lease cost:

 

  

  

Amortization of right-of-use assets

$

416

$

415

Interest on lease liabilities

 

609

 

614

CPI lease cost

 

49

 

42

Total lease cost

$

1,074

$

1,071

 

  

 

  

Other information:

 

  

 

  

Cash paid for amounts included in the measurement lease liabilities:

 

  

 

  

Operating cash flows from finance lease - CPI rent

$

49

$

42

Financing cash flows from finance lease obligations

$

88

$

73

Schedule of finance lease and weighted average information

September 30, 

June 30,

2021

2021

Finance lease right-of-use assets

$

25,695

$

26,111

Finance lease obligation - current portion

$

374

$

367

Finance lease obligation - non-current portion

$

31,660

$

31,755

Weighted average remaining lease term - finance lease

 

28.33

years

 

28.58

years

Weighted average discount rate - finance lease obligation

 

7.606

%

 

7.606

%

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 September 30:

    

Principal

    

Interest

    

Total

2022

$

374

$

2,426

$

2,800

2023

395

2,397

2,792

2024

 

407

 

2,366

 

2,773

2025

 

414

 

2,336

 

2,750

2026

 

447

 

2,303

 

2,750

Thereafter

 

29,997

 

34,628

 

64,625

 

  

 

  

 

  

Total minimum lease payments

 

32,034

$

46,456

$

78,490

Less: current portion

 

(374)

 

  

 

  

Long-term portion of minimum lease obligations

$

31,660