Amtech Systems, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

Leases (Tables)

3 Months Ended

Dec. 31, 2021

Schedule of Financial Statement Classification of Lease Balances Within Condensed Consolidated Balance Sheets

The following table provides information about the financial statement classification of our lease balances reported within the Condensed Consolidated Balance Sheets, in thousands:


	December 31, 2021		September 30, 2021
Assets
Right-of-use assets - operating	$	8,573	$	8,646
Right-of-use assets - finance		151		174
Total right-of-use assets	$	8,724	$	8,820
Liabilities
Current
Operating lease liability	$	492	$	470
Finance lease liability		58		61
Total current portion of long-term lease liability		550		531
Long-term
Operating lease liability		8,197		8,279
Finance lease liability		103		110
Total long-term lease liability		8,300		8,389
Total lease liability	$	8,850	$	8,920

Schedule of Financial Statement Classification of Lease Expenses Reported in Condensed Consolidated Statements of Operations

The following table provides information about the financial statement classification of our lease expenses reported in the Condensed Consolidated Statements of Operations, in thousands:


		Three Months Ended December 31,
Lease cost	Classification	2021		2020
Operating lease cost	Cost of sales	$	197	$	71
Operating lease cost	Selling, general and administrative expenses		84		48
Finance lease cost	Cost of sales		1		2
Finance lease cost	Selling, general and administrative expenses		16		2
Short-term lease cost	Cost of sales		—		27
Total lease cost		$	298	$	150

Future Minimum Lease Payments Under Non-cancelable Leases Including Leases that are Executed but not yet Effective

Future minimum lease payments under non-cancelable leases, including leases that are executed but not yet effective, as of December 31, 2021, are as follows, in thousands:


	Operating leases		Finance Leases		Total
Remainder of 2022	$	811	$	56	$	867
2023		1,062		66		1,128
2024		1,043		47		1,090
2025		1,031		—		1,031
2026		915		—		915
Thereafter		8,862		—		8,862
Total lease payments		13,724		169		13,893
Less: Interest		5,035		8		5,043
Present value of lease liabilities	$	8,689	$	161	$	8,850

Schedule of Weighted Average Remaining Term and Discount Rates

The following table provides information about the remaining lease terms and discount rates applied:


	December 31, 2021
Weighted average remaining lease term
Operating leases	16.73 years
Finance leases	2.54 years
Weighted average discount rate
Operating leases		4.17	%
Finance leases		4.17	%