| Schedule of Related Party Transactions |
During the three and six months ended December 31, 2017 and 2016, the Company earned interest income related to loans made to Former Parent and related to financing products sold to affiliated companies, as set forth below:
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in thousands |
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Three Months Ended |
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Six Months Ended |
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December 31, 2017 |
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December 31, 2016 |
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December 31, 2017 |
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December 31, 2016 |
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Interest income from secured loan receivables |
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$ |
51 |
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$ |
22 |
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$ |
53 |
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$ |
32 |
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Interest income from finance products |
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576 |
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|
687 |
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|
1,120 |
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|
1,355 |
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$ |
627 |
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$ |
709 |
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$ |
1,173 |
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$ |
1,387 |
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During the three and six months ended December 31, 2017 and 2016, the Company made sales and purchases to various companies, which have been deemed to be related parties, as follows:
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in thousands |
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Three Months Ended |
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Six Months Ended |
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December 31, 2017 |
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December 31, 2016 |
December 31, 2017 |
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December 31, 2016 |
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Sales |
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Purchases |
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Sales |
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Purchases |
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Sales |
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Purchases |
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Sales |
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Purchases |
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Former Parent |
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$ |
8,065 |
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$ |
1,152 |
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$ |
14,999 |
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$ |
12,137 |
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$ |
12,497 |
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$ |
3,541 |
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$ |
21,667 |
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$ |
23,336 |
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Equity method investee |
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112,316 |
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|
670 |
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137,460 |
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|
408 |
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194,287 |
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1,028 |
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266,536 |
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|
497 |
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SilverTowne |
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4,133 |
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6,280 |
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12,030 |
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|
130 |
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7,283 |
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6,379 |
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18,819 |
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2,742 |
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$ |
124,514 |
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$ |
8,102 |
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$ |
164,489 |
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$ |
12,675 |
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$ |
214,067 |
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$ |
10,948 |
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$ |
307,022 |
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$ |
26,575 |
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Balances with Affiliated Companies or Persons
As of December 31, 2017 and June 30, 2017, the Company had related party receivables and payables balances as set forth below:
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in thousands |
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December 31, 2017 |
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June 30, 2017 |
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Receivables |
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Payables |
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Receivables |
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Payables |
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Former Parent |
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$ |
1,424 |
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(1) |
$ |
— |
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$ |
— |
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$ |
27 |
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Equity method investee |
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1,835 |
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(2) |
— |
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— |
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|
558 |
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SilverTowne |
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— |
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|
363 |
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(3) |
— |
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|
1,768 |
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Goldline Lenders |
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— |
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|
8,015 |
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(4) |
— |
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— |
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$ |
3,259 |
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$ |
8,378 |
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— |
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$ |
2,353 |
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_________________________________ |
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(1) Balance includes a secured line of credit with a balance of $1.5 million. |
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(2) Balance represents mostly open trade receivables. |
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(3) Balance includes: (a) a trade receivables of $0.2 million (shown as a component of receivables), and (b) a contingent earn-out liability of $0.6 million (shown as a component of other long-term liabilities). |
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(4) Balance includes: the face value the Goldline Credit Facility ($7.5 million), and the associated estimated debt funding fees payable ($0.5 million). The Goldline Credit facility and the debt funding fee is payable in August 2020. |
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During the three and six months ended December 31, 2017 and 2016, the Company incurred interest related to notes payable due to SilverTowne and a long-term debt payable to the Goldline Lenders, as set forth below:
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in thousands |
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Three Months Ended |
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Six Months Ended |
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Three Months Ended December 31, |
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December 31, 2017 |
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December 31, 2016 |
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December 31, 2017 |
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December 31, 2016 |
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Interest expense incurred related to notes payable |
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$ |
1 |
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$ |
— |
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$ |
1 |
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$ |
— |
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Interest expense incurred related to long-term debt obligation |
|
201 |
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— |
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|
279 |
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|
— |
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$ |
202 |
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$ |
— |
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$ |
280 |
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$ |
— |
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