Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v2.4.0.8
Related Party Transactions
 6 Months Ended
Dec. 31, 2013
Related Party Transactions [Abstract]  
Related Party Transactions
RELATED PARTY TRANSACTIONS

During the three and six months ended December 31, 2013 and 2012, the Company made sales and purchases to the following companies in amounts set forth below. These companies and A-Mark are under common control (as subsidiaries of SGI) and therefore the transactions constitute related party transactions.

in thousands
Three Months Ended
December 31, 2013
 
Three Months Ended
December 31, 2012
 
Sales
 
Purchases
 
Sales
 
Purchases
Affiliate Company
 
 
 
 
 
 
 
Calzona
$
1,481

 
$
354

 
$
60

 
$
—

SNI
1,616

 
1,794

 
2,151

 
1,363

Stack's Bower
856

 
1,529

 
956

 
606

Teletrade
618

 
621

 
5,147

 
280

Related party, total
$
4,571

 
$
4,298

 
$
8,314

 
$
2,249


 in thousands
Six Months Ended
December 31, 2013
 
Six Months Ended
December 31, 2012
 
Sales
 
Purchases
 
Sales
 
Purchases
Affiliate Company
 
 
 
 
 
 
 
Calzona
$
2,349

 
$
354

 
$
60

 
$
—

SNI
3,787

 
2,260

 
4,121

 
1,764

Stack's Bower
1,202

 
2,650

 
1,817

 
2,401

Teletrade
1,099

 
1,485

 
8,558

 
1,369

Related party, total
$
8,437

 
$
6,749

 
$
14,556

 
$
5,534



 in thousands
December 31, 2013
 
June 30, 2013
 
Receivable
 
Payable
 
Receivable
 
Payable
Affiliate Company
 
 
 
 
 
 
 
Calzona
$
—

 
$
74

 
$
—

 
$
171

SNI
232

 
12

 
104

 
—

Stack's Bower
248

 
—

 
126

 
—

Teletrade
—

 
—

 
—

 
73

Related party, total
$
480

 
$
86

 
$
230

 
$
244


Corporate Overhead Charges
During the three months and six months ended December 31, 2013, the Company paid $0.2 million, and $0.4 million, respectively, of corporate overhead charges, which were payable monthly to SNI based on the Parent's annual budget. During the three months and six months ended December 31, 2012, the Company paid $0.2 million, and $0.4 million, respectively, of corporate overhead charges, which were payable to SNI.

Transactions with Directors and Officers
Amounts included in payable to parent in the condensed consolidated balance sheets as of December 31, 2013 and June 30, 2013 includes $0.0 million and $1.0 million, respectively, in respect of executive compensation payable to SGI.

Royalties to Former Owner
As part of the A-Mark sales agreement dated July 1, 2005, the former owner receives a portion of the finance income earned with a specific customer through June 2015. The Company accrued $0.06 million and $0.11 million in royalty expense during the three months and six months ended December 31, 2013, respectively, and accrued $0.10 million and $0.18 million in royalty expense during the three months and six months ended December 31, 2012. The total amount due to the former owner $0.11 million and $0.31 million are included in accrued liabilities as of December 31, 2013 and June 30, 2013, respectively.

Income Tax Sharing Obligations
The Company paid $1.1 million and $3.9 million of income tax sharing obligations during the three months and six months ended December 31, 2013, respectively, and paid $1.8 million and $4.8 million of income tax sharing obligations, during the three months and six months ended December 31, 2012, respectively, which were payable to SGI.