LEASES (Tables)

6 Months Ended

Mar. 27, 2020

Leases [Abstract]

Supplmental balance Sheet Information Related to the Company's Leases

Supplemental balance sheet information related to the Company’s operating leases were as follows:

	March 27, 2020
Weighted average remaining lease term for operating leases (in years)	4.2
Weighted average discount rate for operating leases	5.47	%

Components of Lease Expense and Supplemental Cash Flow Information

The components of lease expense, recorded in cost of sales, selling and administrative expenses and interest and financing expense in the condensed consolidated statements of operation, during the three and six months ended March 27, 2020 were as follows:

		Three Months Ended		Six Months Ended
Lease Expense	Classification	March 27, 2020		March 27, 2020
(in thousands)
Operating lease expense
Fixed payment operating lease expense ¹	Cost of sales	$	68	$	93
Fixed payment operating lease expense	Selling and administrative expenses	15		29
Variable payment operating lease expense		—		—
Finance lease expense
Depreciation of ROU assets	Cost of sales	144		273
Interest	Interest and financing expense	88		174
Total lease expense		$	315	$	569

¹ Includes short-term leases which are not material.

Supplemental Cash Flow Information

Supplemental cash flow information related to the Company's leases during the six months ended March 27, 2020 were as follows:

	Six Months Ended
Supplemental Cash Flow	March 27, 2020
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating lease ROU assets	$	47
Interest paid on finance leases	174
Financing cash flows from finance leases	—
Lease liabilities arising from obtaining ROU assets:
Operating leases	33

Summary of Operating Lease Payments

A summary of operating lease payments for the next five years follows:

Operating Lease Payment Schedule	Contractual Lease Payments
(in thousands)
Twelve months ending March
2021	$	77
2022	73
2023	72
2024	72
2025 and thereafter	18
Total operating lease payments	312
Less: amounts representing interest	(38)
Total operating lease obligation	$	274

Summary of Finance Lease Payments

A summary of finance lease payments for the next five years follows:

Finance Lease Payment Schedule	Contractual Lease Payments
(in thousands)
Twelve months ending March
2021	$	760
2022	774
2023	788
2024	802
2025 and thereafter	6,481
Total finance lease payments	9,605
Less: amounts representing interest	(2,349)
Total finance lease obligation	$	7,256

Schedule of Future Minimum Lease Payments for Capital Leases

As previously disclosed in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2019 and under the previous lease accounting standard, the maturities of lease liabilities at September 30, 2019 were as follows:

Capital Lease Payment Schedule	Contractual Payments
(in thousands)
Twelve months ending September 30,
2020	$	673
2021	686
2022	700
2023	714
2024 and thereafter	6,720
Total capital lease payments	9,493
Less: amounts representing interest	(2,470)
Present value of minimum lease payment	$	7,023