Note 18.

Capital Lease

In December 2013, the Company's HIGHYAG subsidiary entered into a capital lease related to a building in Germany. The following table shows the future minimum lease payments due under the non-cancelable capital lease ($000):

Fiscal Year Ending:	Amount
2015	$	1,071
2016		1,071
2017		1,071
2018		1,071
2019		1,071
Thereafter		12,228

Total minimum lease payments		17,583
Less amount representing interest		5,947

Present value of capitalized payments		11,636
Less: current portion		453

Long-term portion	$	11,183

The current and long-term portion of the capital lease obligation was recorded in Other accrued liabilities and Other liabilities, respectively, in the Company’s Condensed Consolidated Balance Sheets as of June 30, 2014. The present value of the capitalized payments of $11.6 million was recorded in Property, plant & equipment, net, in the Company’s Condensed Consolidated Balance Sheets as of June 30, 2014, with associated depreciation expense being recorded over the 17 year life of the lease.

In August 2014, the Company exited its capital lease obligation by purchasing the existing manufacturing facility in Berlin, Germany utilized by the Company’s HIGHYAG business. The total cash paid for this purchase was approximately $13.4 million and was financed through existing cash balances at June 30, 2014.