Amtech Systems, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

Leases (Tables)

12 Months Ended

Sep. 30, 2022

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	%