| Schedule of related party transactions |
During the three and six months ended December 31, 2018 and 2017, the Company incurred interest expense (including debt amortization costs) related to the debt payable to SilverTowne and the Goldline Lenders, as set forth below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
in thousands |
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
|
|
December 31, 2018 |
|
December 31, 2017 |
|
December 31, 2018 |
|
December 31, 2017 |
|
Interest expense incurred related to notes payable |
|
$ |
— |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
1 |
|
|
Interest expense incurred related to long-term debt obligation |
|
147 |
|
|
201 |
|
|
$ |
342 |
|
|
$ |
279 |
|
|
|
|
$ |
147 |
|
|
$ |
202 |
|
|
$ |
342 |
|
|
$ |
280 |
|
|
|
|
|
|
|
|
|
|
|
|
During the three and six months ended December 31, 2018 and 2017, the Company made sales and purchases to various companies, which have been deemed to be related parties, as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
in thousands |
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
|
|
December 31, 2018 |
|
December 31, 2017 |
December 31, 2018 |
|
December 31, 2017 |
|
|
Sales |
|
Purchases |
|
Sales |
|
Purchases |
|
Sales |
|
Purchases |
|
Sales |
|
Purchases |
|
Former Parent/Stack's Bowers |
|
$ |
1,613 |
|
|
$ |
1,187 |
|
|
$ |
8,065 |
|
|
$ |
1,152 |
|
|
$ |
19,088 |
|
|
$ |
17,959 |
|
|
$ |
12,497 |
|
|
$ |
3,541 |
|
|
Equity method investee |
|
97,531 |
|
|
1,787 |
|
|
112,316 |
|
|
670 |
|
|
198,095 |
|
|
4,149 |
|
|
194,287 |
|
|
1,028 |
|
|
SilverTowne |
|
4,543 |
|
|
876 |
|
|
4,133 |
|
|
6,280 |
|
|
8,681 |
|
|
1,337 |
|
|
7,283 |
|
|
6,379 |
|
|
|
|
$ |
103,687 |
|
|
$ |
3,850 |
|
|
$ |
124,514 |
|
|
$ |
8,102 |
|
|
$ |
225,864 |
|
|
$ |
23,445 |
|
|
$ |
214,067 |
|
|
$ |
10,948 |
|
|
During the three and six months ended December 31, 2018 and 2017, the Company earned interest income related to loans made to Stack's Bowers and related to financing arrangements (including repurchase agreements) with affiliated companies, as set forth below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
in thousands |
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
|
|
December 31, 2018 |
|
December 31, 2017 |
|
December 31, 2018 |
|
December 31, 2017 |
|
Interest income from secured loans receivables |
|
$ |
275 |
|
|
$ |
51 |
|
|
$ |
489 |
|
|
$ |
53 |
|
|
Interest income from finance products and repurchase arrangements |
|
1,539 |
|
|
576 |
|
|
3,262 |
|
|
1,120 |
|
|
|
|
$ |
1,814 |
|
|
$ |
627 |
|
|
$ |
3,751 |
|
|
$ |
1,173 |
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2018 and June 30, 2018, the Company had related party receivables and payables balances as set forth below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
in thousands |
|
|
|
|
|
|
|
|
|
|
|
December 31, 2018 |
|
June 30, 2018 |
|
|
|
Receivables |
|
Payables |
|
Receivables |
|
Payables |
|
Former Parent/Stack's Bowers |
|
$ |
17,264 |
|
(1) |
$ |
— |
|
|
$ |
13,240 |
|
|
$ |
— |
|
|
Equity method investee |
|
— |
|
|
693 |
|
(2) |
— |
|
|
920 |
|
|
SilverTowne |
|
266 |
|
(3) |
— |
|
|
— |
|
|
242 |
|
|
Goldline Lenders(4)
|
|
— |
|
|
— |
|
|
— |
|
|
7,710 |
|
|
|
|
$ |
17,530 |
|
|
$ |
693 |
|
|
13,240 |
|
|
$ |
8,872 |
|
|
|
|
|
|
|
|
|
|
|
|
_________________________________ |
|
(1) Balance principally includes two secured lines of credit with a balance of $11.0 million and $6.0 million (shown as a component of secured loans receivables). See "Secured Lines of Credit with Stack's Bowers", below. |
|
(2) Balance primarily represents open trade payables, net (shown as a component of accounts payable). |
|
(3) Balance primarily represents trade receivables, net (shown as a component of receivables). |
|
(4) Principal balance of the Goldline Credit Facility of $7.5 million was repaid in full on December 7, 2018 before the August 2020 maturity date. The principal payment included a 2% premium of $150,000 (See Note 14 for further details.) |
|
|
|
|
|
|
|
|
|
|
|
|