Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions (Tables)

v3.19.1
Related Party Transactions (Tables)
9 Months Ended
Mar. 31, 2019
Related Party Transactions [Abstract]  
Schedule of related party transactions
As of March 31, 2019 and June 30, 2018, the Company had related party receivables and payables balances as set forth below:
 in thousands
 
 
 
 
 
 
 
 
 
 
 
March 31, 2019
 
June 30, 2018
 
 
 
Receivables
 
Payables
 
Receivables
 
Payables
 
Former Parent/Stack's Bowers Galleries
 
$
9,430

(1) 
$

 
$
13,240

 
$

 
Equity method investees
 
2,774

(2) 

 
900

 
920

 
SilverTowne
 
185

(3) 

 

 
242

 
Goldline Lenders(4)
 

 

 

 
7,710

 
 
 
$
12,389

 
$
0

 
14,140

 
$
8,872

 
 
 
 
 
 
 
 
 
 
 
_________________________________
 
(1) Balance principally includes two secured lines of credit with a balance of $4.5 million and $4.0 million (shown as a component of secured loans receivables) and trade receivables of $1.0 million. See "Secured Lines of Credit with Stack's Bowers Galleries", below.
 
(2) Balance primarily represents trade receivables, net (shown as a component of receivables).
 
(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.)
 
 
 
 
 
 
 
 
 
 
 
During the three and nine months ended March 31, 2019 and 2018, the Company earned interest income related to loans made to Stack's Bowers Galleries and to financing arrangements (including repurchase agreements) with affiliated companies, as set forth below:
in thousands
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
March 31, 2019
 
March 31, 2018
 
March 31, 2019
 
March 31, 2018
 
Interest income from secured loans receivables
 
$
277

 
$
88

 
$
766

 
$
141

 
Interest income from finance products and repurchase arrangements
 
1,684

 
1,114

 
5,116

 
2,333

 
 
 
$
1,961

 
$
1,202

 
$
5,882

 
$
2,474

 
 
 
 
 
 
 
 
 
 
 
During the three and nine months ended March 31, 2019 and 2018, 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
 
Nine Months Ended
 
 
 
March 31, 2019
 
March 31, 2018
 
March 31, 2019
 
March 31, 2018
 
Interest expense incurred related to notes payable
 
$

 
$

 
$

 
$
4

 
Interest expense incurred related to long-term debt obligation
 

 
226

 
$
342

 
$
505

 
 
 
$

 
$
226

 
$
342

 
$
509

 
 
 
 
 
 
 
 
 
 
 
During the three and nine months ended March 31, 2019 and 2018, the Company made sales and purchases to various companies, which have been deemed to be related parties, as follows:
in thousands
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
March 31, 2019
 
March 31, 2018
March 31, 2019
 
March 31, 2018
 
 
Sales
 
Purchases
 
Sales
 
Purchases
 
Sales
 
Purchases
 
Sales
 
Purchases
 
Former Parent/Stack's Bowers Galleries
 
$
4,417

 
$
3,924

 
$
12,189

 
$
211,120

 
$
23,505

 
$
21,883

 
$
24,686

 
$
214,661

 
Equity method investees
 
135,433

 
7,543

 
131,244

 
5,393

 
410,617

 
13,262

 
372,912

 
6,859

 
SilverTowne
 
2,537

 
121

 
5,101

 
699

 
11,218

 
1,498

 
12,384

 
7,078

 
 
 
$
142,387

 
$
11,588

 
$
148,534

 
$
217,212

 
$
445,340

 
$
36,643

 
$
409,982

 
$
228,598