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Accounts payable and other noncurrent liabilities | 6 Months Ended
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Mar. 31, 2021
Accounts payable and other noncurrent liabilities |
Accounts payable and other noncurrent liabilities | 9. Accounts payable and other noncurrent liabilities In February 2021, the Company’s US. division of the TS segment entered into an agreement with a vendor to pay approximately $1.5 million including interest for goods and services through fiscal year 2025 in 5 payments related to a multi-year agreement with a customer. In February 2021, the Company’s US. division of the TS segment entered into an agreement with a vendor to pay approximately $7.2 million including interest for goods and services through fiscal year 2025 in 6 payments through fiscal year 2025 related to a multi-year agreement with a customer. See Note 6 for further information related to the multi-year agreements above. There was not an interest rate stated and therefore interest was imputed under ASC 835 Interest as the payments in the exchange represented two elements: principal and interest. The imputed interest rate for both agreements was determined to be 5.0%. The rate was determined primarily based on the rate the Company could obtain by financing from other sources at the date of the transaction. The amounts owed for these agreements are in within accounts payable and other noncurrent liabilities because they are owed to a vendor rather than banks or financial institutions for borrowings. See Note 10 Notes Payable and Line of Credit for amounts due to banks and other financial institutions for borrowings. Below are details of the agreements with the vendor that contain imputed interest:
| March 31, 2021
| (Amounts in thousands)
Current | $ | 2,727
Less: discount |  | 288
Accounts payable and accrued expenses | $ | 2,439
Noncurrent | $ | 5,590
Less: discount |  | 403
Other noncurrent liabilities | $ | 5,187
The Company had a total of approximately $8.1 million due to this vendor including the two aforementioned agreements and other payables. This is approximately 53% of Accounts payable and other noncurrent liabilities. The TS segment has many vendors it transacts with and does not have any specific agreement with this vendor that it must purchase certain products from the vendor. Management believes other suppliers could provide similar products on comparable terms.

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- Definition The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as noncurrent at the end of the reporting period. + References No definition available. + Details
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