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Note 13 - Leases | 12 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | (13) Leases We have operating leases for certain equipment, office space and vehicles. We determine whether an arrangement is a lease at its inception if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Leases with an initial term of twelve months or less are not recorded on our consolidated balance sheet. Lease expense for operating leases with original terms of more than twelve months was $1.3 million in 2023, $1.4 million in 2022 and $1.4 million in 2021. Most of our leases include options to extend or terminate the leases which are exercised at our sole discretion. As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate as of the commencement date in determining the present value of lease payments, which represents an estimate of the interest rate we would incur at the lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term. Supplemental cash flow and non-cash information related to leases is as follows:
(In thousands) |  | September 30, 2023 |  |  | October 1, 2022 |
Cash paid for operating leases included in operating cash flows |  | $ | 1,261 |  |  | $ | 1,418 |
Right-of-use assets obtained in exchange for new lease obligations |  |  | 1,547 |  |  |  | 1,206 |
Supplemental balance sheet information related to leases is as follows:
(In thousands) |  | September 30, 2023 |  |  | October 1, 2022 |
Right-of-use assets: |  |  |  |  |  |  |  |
Other assets |  | $ | 1,939 |  |  | $ | 1,565 |
Lease liabilities: |  |  |  |  |  |  |  |
Accrued expenses |  | $ | 999 |  |  | $ | 997 |
Other liabilities |  |  | 936 |  |  |  | 572 |
Total operating lease liabilities |  | $ | 1,935 |  |  | $ | 1,569 |
The weighted average remaining lease terms and discount rates for operating leases are as follows:
|  | September 30, 2023 |  |  | October 1, 2022 |
Weighted average lease term (in years) |  | 2.2 |  |  | 1.7 |
Weighted average discount rate |  |  | 7.1 | % |  |  | 3.7 | %
Aggregate future operating lease payments as of September 30, 2023, are as follows:
(In thousands) |  |  |  |
2024 |  | $ | 1,103 |
2025 |  |  | 636 |
2026 |  |  | 354 |
2027 |  |  | 6 |
2028 |  |  | - |
Total future operating lease payments |  |  | 2,099 |
Less: imputed interest |  |  | (164 | )
Present value of lease liabilities |  | $ | 1,935 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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