| 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:
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in thousands |
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March 31, 2019 |
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June 30, 2018 |
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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/Stack's Bowers Galleries |
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$ |
9,430 |
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(1) |
$ |
— |
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$ |
13,240 |
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$ |
— |
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Equity method investees |
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2,774 |
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(2) |
— |
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|
900 |
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|
920 |
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SilverTowne |
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185 |
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(3) |
— |
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— |
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242 |
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Goldline Lenders(4)
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— |
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— |
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— |
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7,710 |
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$ |
12,389 |
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$ |
0 |
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14,140 |
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$ |
8,872 |
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_________________________________ |
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(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. |
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(2) Balance primarily represents trade receivables, net (shown as a component of receivables). |
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(3) Balance primarily represents trade receivables, net (shown as a component of receivables). |
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(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 $150,000. (See Note 14 for further details.) |
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During the three and nine months ended March 31, 2019 and 2018, the Company earned interest income related to loans made to Stack's Bowers Galleries and to financing arrangements (including repurchase agreements) with affiliated companies, as set forth below:
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in thousands |
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Three Months Ended |
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Nine Months Ended |
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March 31, 2019 |
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March 31, 2018 |
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March 31, 2019 |
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March 31, 2018 |
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Interest income from secured loans receivables |
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$ |
277 |
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$ |
88 |
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$ |
766 |
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$ |
141 |
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Interest income from finance products and repurchase arrangements |
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1,684 |
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|
1,114 |
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5,116 |
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2,333 |
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$ |
1,961 |
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$ |
1,202 |
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$ |
5,882 |
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$ |
2,474 |
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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:
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in thousands |
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Three Months Ended |
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Nine Months Ended |
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March 31, 2019 |
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March 31, 2018 |
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March 31, 2019 |
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March 31, 2018 |
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Interest expense incurred related to notes payable |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
4 |
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Interest expense incurred related to long-term debt obligation |
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— |
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226 |
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$ |
342 |
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$ |
505 |
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$ |
— |
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$ |
226 |
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$ |
342 |
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$ |
509 |
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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:
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in thousands |
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Three Months Ended |
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Nine Months Ended |
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March 31, 2019 |
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March 31, 2018 |
March 31, 2019 |
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March 31, 2018 |
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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/Stack's Bowers Galleries |
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$ |
4,417 |
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$ |
3,924 |
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$ |
12,189 |
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$ |
211,120 |
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$ |
23,505 |
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$ |
21,883 |
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$ |
24,686 |
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$ |
214,661 |
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Equity method investees |
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135,433 |
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7,543 |
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131,244 |
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5,393 |
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410,617 |
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13,262 |
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372,912 |
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6,859 |
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SilverTowne |
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2,537 |
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|
121 |
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5,101 |
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|
699 |
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11,218 |
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1,498 |
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12,384 |
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7,078 |
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$ |
142,387 |
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$ |
11,588 |
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$ |
148,534 |
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$ |
217,212 |
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$ |
445,340 |
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$ |
36,643 |
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$ |
409,982 |
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$ |
228,598 |
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