A-Mark Precious Metals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Mar. 31, 2021

Components of operating lease expense for the three and nine months ended March 31, 2021 and 2020 were as follows:

in thousands
	Three Months Ended					Nine Months Ended
	March 31, 2021		March 31, 2020			March 31, 2021		March 31, 2020
Operating lease costs	$	361	$	349		$	1,060	$	1,050
Variable lease costs		67		62			217		180
Short term lease costs		21		38			73		100
Finance lease costs		5		6			16		17
Sublease income		—		(27	)		—		(81	)
Total lease costs, net	$	454	$	428		$	1,366	$	1,266

Schedule of Future Undiscounted Cash Flows for Each of Next Five Years and Thereafter and Reconciliation to Lease Liabilities

The following represents our future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities, as of March 31, 2021:

Years ending June 30,	Operating Leases
2021 (3 months remaining)	$	475
2022		1,710
2023		1,240
2024		1,275
2025		1,239
Thereafter		2,320
Total lease payments		8,259
Imputed interest		(1,164	)
	$	7,095		⁽¹⁾
Operating lease liability - current	$	1,565		⁽²⁾
Operating lease liability - long-term		5,530		⁽³⁾
	$	7,095		⁽¹⁾

(1)	Represents the present value of the capitalized operating lease liabilities as of March 31, 2021.

(2)	Current operating lease liabilities are presented within accrued liabilities on our condensed consolidated balance sheets.

(3)	Long-term operating lease liabilities are presented within other liabilities on our condensed consolidated balance sheets.

Reconciliation of Shares Used in Calculating Basic and Diluted Earnings per Common Shares

A reconciliation of shares used in calculating basic and diluted earnings per common share for the three and nine months ended March 31, 2021 and 2020, is presented below.

in thousands
	Three Months Ended				Nine Months Ended
	March 31, 2021		March 31, 2020		March 31, 2021		March 31, 2020
Basic weighted average shares outstanding		8,029		7,031		7,404		7,031
Effect of common stock equivalents — stock issuable under outstanding equity awards		639		12		577		32
Diluted weighted average shares outstanding		8,668		7,043		7,981		7,063