Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.21.2
Commitments and Contingencies (Tables)
9 Months Ended
Jun. 27, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Non-cancellable Operating Leases Minimum Payments

As of June 27, 2021, the remaining minimum lease and estimated CAM payments under the non-cancelable office and facility space leases are as follows:

 

Non-cancellable Operating Leases

 

    (Thousands)        
    Optex Richardson     Applied Optics Center     Office Equipment     Consolidated  
Fiscal Year     Facility
Lease
Payments
      Facility
Lease
Payments
      Lease Payments       Total Lease Payments       Total Variable CAM Estimate  
2021 Base year lease     76       66       5       147       58  
2022 Base year lease     308       234       5       547       237  
2023 Base year lease     317       288               605       242  
2024 Base year lease     327       296               623       247  
2025 Base year lease     336       305               641       252  
2026 Base year lease     346       313               659       257  
2027 Base year lease     357       322               679       262  
2028 Base year lease     241       330               571       188  
2029 Base year lease     -       83               83       27  
Total base lease payments     2,308     $ 2,237     $ 10       4,555     $ 1,770  
Imputed interest on lease payments (1)     (363 )     (408 )     (1 )     (772 )        
Total Operating Lease Liability(2)   $ 1,945     $ 1,829     $ 9     $ 3,783          
                                         
Right-of-use Asset(3)   $ 1,889     $ 1,823     $ 9     $ 3,721          

 

 

(1) Assumes a discount borrowing rate of 5.0% on the new lease amendments effective as of January 11, 2021 and 7.5% on the remaining lease term for the Applied Optics Dallas facility through October 31, 2021.
(2) Short-term and Long-term portion of Operating Lease Liability is $529 thousand and $3,254 thousand, respectively.
(3) Includes $62 thousand of unamortized deferred rent.