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LEASES | 12 Months Ended
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Jun. 30, 2020
Leases [Abstract] |
LEASES | Company as Lessor Operating leases under which the Company is the lessor arise from leasing the Company’s commercial real estate investment property to third parties. Initial lease terms generally range from 12 to 60 months. Depreciation expense for assets subject to operating leases is taken into account primarily on the straight-line method over a period of twenty years in amounts necessary to reduce the carrying amount of the asset to its estimated residual value. Depreciation expenses relating to the property held as investments in operating leases were $67 and $86 for the years ended June 30, 2020 and 2019, respectively. Future minimum rental income in China and Thailand to be received from fiscal year 2021 to fiscal year 2022 on non-cancellable operating leases is contractually due as of June 30, 2020 as follows:
2021 |  | $ | 120 |
2022 |  | $ | 114 |
|  | $ | 234 |
Future minimum rental income in China and Thailand to be received from fiscal year 2020 to fiscal year 2021 on non-cancellable operating leases is contractually due as of June 30, 2019 as follows:
2020 |  | $ | 93 |
2021 |  | $ | 6 |
|  | $ | 99 |
Company as Lessee The Company has operating leases for corporate offices and research and development facilities with remaining lease terms of 1 year to 3 years and finance leases for plant and equipment. Supplemental balance sheet information related to leases is as follows (in thousands):
|  |  | June 30, |
Components of Lease Balances | Classification |  | 2020 |
Assets |  |  |  |
Operating lease assets | Right-of-use asset-operating, net |  | $ | 944 |
Finance lease assets | Property, plant & equipment |  |  | 1,372 |
Accumulated amortization Right-of-use asset |  |  |  | (526 | )
Assets | Property, plant & equipment |  | $ | 846 |
Total Leased Assets |  |  | $ | 1,790 |
Liabilities |  |  |  |  |
Operating Lease Liabilities |  |  |  |  |
Current portion | Current portion of lease liability- operating |  | $ | 477 |
Long-term portion | Lease liability- operating, net of current portion |  |  | 467 |
Total Operating Lease Liabilities |  |  | $ | 944 |
Finance Lease Liabilities |  |  |  |  |
Current portion of finance leases | Current portion of lease liability- finance |  | $ | 231 |
Net of current portion of finance leases | Lease liability- finance, net of current portion |  |  | 435 |
Total Finance Lease Liabilities |  |  | $ | 666 |
Total Lease Liabilities |  |  | $ | 1,610 |
|  | 3 Months Ended |  |  | 12 Months Ended |
|  | June 30, 2020 |
Lease Cost |  |  |  |  |  |
Finance lease cost: |  |  |  |  |  |
Interest on lease liability |  |  | 11 |  |  | $ | 48 |
Amortization of right-of-use asset |  |  | 60 |  |  |  | 272 |
Total Finance Lease Cost |  |  | 71 |  |  |  | 320 |
Operating Lease Costs $ |  |  | 185 |  |  | $ | 727 |
Other information related to leases were as follows (in thousands except lease term and discount rate):
|  | June 30, |
|  | 2020 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows from finance leases |  | $ | (61 | )
Operating cash flows from operating leases |  | $ | (727 | )
Finance cash flows from finance leases |  | $ | 279 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  | $ | 944 |
Weighted-average remaining lease term: |  |  |  |
Finance leases |  |  | 3.40 |
Operating leases |  |  | 1.88 |
Weighted-average discount rate: |  |  |  |
Finance leases |  |  | 3.36 |
Operating leases |  |  | 4.5 |
As of June 30, 2020, the maturities of the Company's operating and finance lease liabilities were as follow:
|  | Operating Lease Liabilities |  |  | Finance Lease Liabilities |
Fiscal Year |  |  |  |  |  |
2021 |  |  | 509 |  |  |  | 265 |
2022 |  |  | 317 |  |  |  | 211 |
2023 |  |  | 168 |  |  |  | 133 |
2024 |  |  | - |  |  |  | 107 |
Thereafter |  |  | - |  |  |  | 20 |
Total future minimum lease payments |  | $ | 994 |  |  | $ | 736 |
Less: amount representing interest |  |  | (50 | ) |  |  | (70 | )
Present value of net minimum lease payments |  |  | 944 |  |  |  | 666 |
Presentation on statement of financial position |  |  |  |  |  |  |  |
Current |  | $ | 477 |  |  | $ | 231 |
Non-Current |  | $ | 467 |  |  | $ | 435 |
As of June 30, 2019, future minimum lease payments under finance leases and non-cancellable operating leases were as follows:
Fiscal Year |  | Operating Lease Liabilities |  |  | Finance Lease Liabilities |
2020 |  | $ | 646 |  |  | $ | 283 |
2021 |  |  | 216 |  |  |  | 187 |
2022 |  |  | 47 |  |  |  | 143 |
2023 |  |  | 1 |  |  |  | 68 |
2024 |  |  | - |  |  |  | 44 |
Total future minimum lease payments |  | $ | 910 |  |  | $ | 725 |

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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 1 -URI http://asc.fasb.org/extlink&oid=121580752&loc=d3e38371-112697 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 3 -URI http://asc.fasb.org/extlink&oid=121580752&loc=d3e38371-112697 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=77888252 + Details
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