Capital Lease Obligation

12 Months Ended

Sep. 30, 2015

Note 18. Capital Lease Obligation

On January 1, 2015, the company entered into a capital lease agreement for the building that houses the assets and operations of LaPorte Custom Metal Processing (LCMP). The capital asset and obligation are recorded at the present value of the minimum lease payments. The asset is included in Property, plant and equipment, net on the Consolidated Balance Sheet and is depreciated over the 20 year lease term. The long term component of the capital lease obligation is included in Long term obligations.

As of September 30, 2015, future minimum lease rental payments applicable to the capital lease were as follows.


2016	$	468
2017		534
2018		538
2019		545
2020		550
Thereafter		8,122
Total minimum capital lease payments		10,757
Less amounts representing interest		(6,377)
Present value of net minimum capital lease payments		4,380
Less current obligation		(468)
Total long term capital lease obligation	$	3,912

The capital lease obligation is included in Long-term obligations (less current portion) on the Consolidated Balance Sheet.


	September 30,		September 30,
	2014		2015
Future capital lease rental payments	$	—	$	4,380
Environmental post-closure monitoring and maintenance activities		823		749
Less amounts due within one year		(78)		(555)
Long-term obligations (less current portion)	$	745	$	4,574