Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.22.2.2
Leases (Tables)
12 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Schedule of Financial Statement Classification of Lease Balances Within Consolidated Balance Sheets

The following table provides information about the financial statement classification of our lease balances reported within the Consolidated Balance Sheets as of September 30, 2022 and 2021, in thousands:

 

 

 

September 30,

 

 

 

2022

 

 

2021

 

Assets

 

 

 

 

 

 

Right-of-use assets - operating

 

$

11,258

 

 

$

8,646

 

Right-of-use assets - finance

 

 

149

 

 

 

174

 

Total right-of-use assets

 

$

11,407

 

 

$

8,820

 

Liabilities

 

 

 

 

 

 

Current

 

 

 

 

 

 

Operating lease liabilities

 

$

2,101

 

 

$

470

 

Finance lease liabilities

 

 

71

 

 

 

61

 

Total current portion of long-term lease liabilities

 

 

2,172

 

 

 

531

 

Long-term

 

 

 

 

 

 

Operating lease liabilities

 

 

9,395

 

 

 

8,279

 

Finance lease liabilities

 

 

76

 

 

 

110

 

Total long-term lease liabilities

 

 

9,471

 

 

 

8,389

 

Total lease liabilities

 

$

11,643

 

 

$

8,920

 

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

The following table provides information about the financial statement classification of our lease expenses reported in the Consolidated Statements of Operations for the years ended September 30, 2022 and 2021, in thousands:

 

 

 

 

 

Years Ended September 30,

 

Lease cost

 

Classification

 

2022

 

 

2021

 

 

2020

 

Operating lease cost

 

Cost of sales

 

$

822

 

 

$

536

 

 

$

208

 

Operating lease cost

 

Selling, general and administrative expenses

 

 

359

 

 

 

256

 

 

 

84

 

Operating lease cost

 

Research, development and engineering

 

 

14

 

 

 

 

 

 

 

Finance lease cost

 

Cost of sales

 

 

4

 

 

 

5

 

 

 

16

 

Finance lease cost

 

Selling, general and administrative expenses

 

 

71

 

 

 

17

 

 

 

8

 

Short-term lease cost

 

Cost of sales

 

 

 

 

 

191

 

 

 

164

 

Total lease cost

 

 

 

$

1,270

 

 

$

1,005

 

 

$

480

 

Future Minimum Lease Payments Under Non-cancelable Leases Including Leases

Future minimum lease payments under non-cancelable leases as of September 30, 2022 are as follows, in thousands:

 

 

 

Operating Leases

 

 

Finance Leases

 

 

Total

 

2023

 

$

2,535

 

 

$

76

 

 

$

2,611

 

2024

 

 

2,136

 

 

 

57

 

 

 

2,193

 

2025

 

 

978

 

 

 

9

 

 

 

987

 

2026

 

 

861

 

 

 

9

 

 

 

870

 

2027

 

 

773

 

 

 

3

 

 

 

776

 

Thereafter

 

 

7,863

 

 

 

 

 

 

7,863

 

Total lease payments

 

 

15,146

 

 

 

154

 

 

 

15,300

 

Less: Interest

 

 

3,650

 

 

 

7

 

 

 

3,657

 

Present value of lease liabilities

 

$

11,496

 

 

$

147

 

 

$

11,643

 

Schedule of Weighted Average Remaining Term and Discount Rates

The following table provides information about the remaining lease terms and discount rates applied as of September 30, 2022 and 2021:

 

 

 

September 30,

 

 

 

2022

 

 

2021

 

Weighted average remaining lease term

 

 

 

 

 

 

Operating leases

 

12.65 years

 

 

16.92 years

 

Finance leases

 

2.45 years

 

 

2.79 years

 

Weighted average discount rate

 

 

 

 

 

 

Operating leases

 

 

4.17

%

 

 

4.17

%

Finance leases

 

 

4.17

%

 

 

4.17

%