Capital Lease

9 Months Ended

Mar. 31, 2019

Note 19.

Capital Lease

The Company’s OptoElectronic Devices subsidiary entered into a capital lease related to a building in Warren, New Jersey. The following table shows the future minimum lease payments due under the non-cancelable capital lease ($000):

Fiscal Year Ending June 30,	Amount
2019 (remaining)		581
2020		2,355
2021		2,419
2022		2,486
2023		2,554
Thereafter		24,740

Total minimum lease payments	$	35,135
Less amount representing interest		10,535

Present value of capitalized payments	$	24,600

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 Sheet as of March 31, 2019 and June 30, 2018. The present value of the minimum capital lease payments at inception was $25 million recorded in Property, Plant & Equipment, net, in the Company’s Condensed Consolidated Balance Sheet as of March 31, 2019, with associated depreciation being recorded over the 15-year life of the lease. During the three and nine months ended March 31, 2019, the Company recorded $0.4 million and $1.2 million of depreciation expense associated with the capital leased asset.