Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.22.1
Commitments and Contingencies (Tables)
6 Months Ended
Apr. 03, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Non-cancellable Operating Leases Minimum Payments

As of April 3, 2022, the remaining minimum lease and estimated CAM payments under the non-cancelable facility space leases are as follows:

 

Fiscal Year   Facility
Lease
Payments
    Facility
Lease
Payments
    Total Lease Payments     Total Variable CAM Estimate  
    Non-cancellable Operating Leases (Thousands)        
    Optex Richardson     Applied Optics Center     Consolidated  
Fiscal Year     Facility
Lease
Payments
    Facility
Lease
Payments
      Total Lease Payments       Total Variable CAM Estimate  
2022 Base year lease     156       141       297       116  
2023 Base year lease     317       288       605       235  
2024 Base year lease     327       296       623       240  
2025 Base year lease     336       305       641       245  
2026 Base year lease     346       313       659       249  
2027 Base year lease     357       322       679       254  
2028 Base year lease     242       330       572       184  
2029 Base year lease     -       83       83       27  
Total base lease payments     2,081     $ 2,078       4,159     $ 1,550  
Imputed interest on lease payments (1)       (301 )     (326 )     (627 )        
Total Operating Lease Liability(2)   $ 1,780     $ 1,752     $ 3,532          
                                 
Right-of-use Asset(3)     $ 1,707     $ 1,698     $ 3,405          

 

(1)

 Assumes a discount borrowing rate of 5.0% on the new lease amendments effective as of January 11, 2021.

   
(2)  Includes $127 thousand of unamortized deferred rent.
 
(3)  Short-term and Long-term portion of Operating Lease Liability is $581 thousand and $2,951 thousand, respectively.