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, 2020

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, 2020:

Years ending June 30,	Operating Leases
2020 (excluding the nine months ended March 31, 2020)	$	378
2021		1,526
2022		1,313
2023		834
2024		860
Thereafter		1,184
Total lease payments		6,095
Less imputed interest		(672	)
	$	5,423		⁽¹⁾
Operating lease liability - current	$	1,281		⁽²⁾
Operating lease liability - long-term		4,142		⁽³⁾
	$	5,423		⁽¹⁾

(1)	Represents the present value of the capitalized operating lease liabilities as of March 31, 2020.

(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.

Summary of Future Minimum Operating Lease Commitments

Following is a summary of our future minimum operating lease commitments, as determined under ASC 840, for all non-cancelable lease agreements, for each of the next five years and in the aggregate, as of June 30, 2019:

Years ending June 30,	Operating Leases
2020	$	1,488
2021		1,526
2022		1,313
2023		834
2024		860
Thereafter		1,184
	$	7,205

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 shares for the three and nine months ended March 31, 2020 and 2019, is presented below.

in thousands
	Three Months Ended				Nine Months Ended
	March 31, 2020		March 31, 2019		March 31, 2020		March 31, 2019
Basic weighted average shares outstanding		7,031		7,031		7,031		7,031
Effect of common stock equivalents — stock issuable under outstanding equity awards		12		53		32		56
Diluted weighted average shares outstanding		7,043		7,084		7,063		7,087