Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.22.0.1
Commitments and Contingencies (Tables)
12 Months Ended
Oct. 03, 2021
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Non-cancellable Operating Leases Minimum Payments

As of October 3, 2021, the remaining minimum base lease and estimated common area maintenance (CAM) payments under the non-cancellable office equipment and facility space leases are as follows:

 

Non-cancellable Operating Leases Minimum Payments

 

Fiscal Year   Facility
Lease
Payments
    Facility
Lease
Payments
   

Lease

Payments

    Total Lease Payments     Total Variable CAM Estimate  
    (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  
2022 Base year lease     308       234       4       546       235  
2023 Base year lease     317       288               605       240  
2024 Base year lease     327       296               623       245  
2025 Base year lease     336       305               641       249  
2026 Base year lease     346       313               659       254  
2027 Base year lease     357       322               679       259  
2028 Base year lease     241       330               571       186  
2029 Base year lease     -       83               83       27  
Total base lease payments     2,232     $ 2,171     $ 4       4,407     $ 1,695  
Imputed interest on lease payments (1) (1)   (339 )     (407 )     -       (746 )        
Total Operating Lease Liability(2) (2) $ 1,893     $ 1,764     $ 4     $ 3,661          
                                         
Right-of-use Asset(3) (3) $ 1,831     $ 1,764     $ 4     $ 3,599          

 

(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) Includes $62 thousand of unamortized deferred rent.
   
(3) Short-term and Long-term portion of Operating Lease Liability is $528 thousand and $3,133 thousand, respectively.