Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.1
Leases (Tables)
6 Months Ended
Mar. 31, 2022
Leases [Abstract]  
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:

 

 

 

March 31,
2022

 

 

September 30,
2021

 

Assets

 

 

 

 

 

 

Right-of-use assets - operating

 

$

8,441

 

 

$

8,646

 

Right-of-use assets - finance

 

 

170

 

 

 

174

 

Total right-of-use assets

 

$

8,611

 

 

$

8,820

 

Liabilities

 

 

 

 

 

 

Current

 

 

 

 

 

 

Operating lease liability

 

$

496

 

 

$

470

 

Finance lease liability

 

 

67

 

 

 

61

 

Total current portion of long-term lease liability

 

 

563

 

 

 

531

 

Long-term

 

 

 

 

 

 

Operating lease liability

 

 

8,075

 

 

 

8,279

 

Finance lease liability

 

 

100

 

 

 

110

 

Total long-term lease liability

 

 

8,175

 

 

 

8,389

 

Total lease liability

 

$

8,738

 

 

$

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 March 31,

 

 

Six Months Ended March 31,

 

Lease cost

 

Classification

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Operating lease cost

 

Cost of sales

 

$

198

 

 

$

13

 

 

$

395

 

 

$

84

 

Operating lease cost

 

Selling, general and administrative expenses

 

 

86

 

 

 

96

 

 

 

170

 

 

 

144

 

Finance lease cost

 

Cost of sales

 

 

1

 

 

 

2

 

 

 

2

 

 

 

4

 

Finance lease cost

 

Selling, general and administrative expenses

 

 

19

 

 

 

1

 

 

 

35

 

 

 

3

 

Short-term lease cost

 

Cost of sales

 

 

 

 

 

49

 

 

 

 

 

 

76

 

Total lease cost

 

 

 

$

304

 

 

$

161

 

 

$

602

 

 

$

311

 

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 March 31, 2022, are as follows, in thousands:

 

 

 

Operating Leases

 

 

Finance Leases

 

 

Total

 

Remainder of 2022

 

$

534

 

 

$

53

 

 

$

587

 

2023

 

 

1,063

 

 

 

115

 

 

 

1,178

 

2024

 

 

1,044

 

 

 

96

 

 

 

1,140

 

2025

 

 

1,033

 

 

 

48

 

 

 

1,081

 

2026

 

 

917

 

 

 

48

 

 

 

965

 

Thereafter

 

 

8,872

 

 

 

25

 

 

 

8,897

 

Total lease payments

 

 

13,463

 

 

 

385

 

 

 

13,848

 

Less: Interest

 

 

4,892

 

 

 

29

 

 

 

4,921

 

Present value of lease liabilities

 

$

8,571

 

 

$

356

 

 

$

8,927

 

Schedule of Weighted Average Remaining Term and Discount Rates

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

 

 

 

March 31,
2022

 

Weighted average remaining lease term

 

 

 

Operating leases

 

16.59 years

 

Finance leases

 

3.91 years

 

Weighted average discount rate

 

 

 

Operating leases

 

 

4.17

%

Finance leases

 

 

4.17

%