Insurance Recoveries Within Consolidated Condensed Financial Statements |
As noted within the tables below, payments totaling $1,219 and $1,168 were made towards this coverage as of September 30, 2020 and 2019 and are reflected within the cost of goods sold line within the consolidated financial statements. | | | | | | | | | Balance sheet (Other receivables): | | | | September 30, 2018 | $ | — | | | Cash received | (8,486) | | | Capital expenditures (equipment) | 8,355 | | | | | | Other expenses | 2,463 | | | Business interruption | 1,168 | | September 30, 2019 | $ | 3,500 | |
| | | | | | | | | Balance sheet (Other receivables): | | | | September 30, 2019 | $ | 3,500 | | | Cash received | (10,927) | | | Capital expenditures (equipment) | 5,874 | | | Other expenses | 1,881 | | | Business interruption | 1,219 | | September 30, 2020 | $ | 1,547 | |
The following table reflects how the proceeds received impacted the consolidated statements of operations as of September 30, | | | | | | | | | | | | | Year Ended September 30, 2020 | | Balance without insurance proceeds | Insurance recoveries | Balance with insurance proceeds | | | | | Cost of goods sold | $ | 96,711 | | $ | (3,100) | | $ | 93,611 | | Gain on insurance recoveries | $ | — | | (5,874) | | $ | (5,874) | | Income before income tax benefit | $ | 6 | | (8,974) | | $ | 8,980 | |
| | | | | | | | | | | | | Year Ended September 30, 2019 | | Balance without insurance proceeds | Insurance recoveries | Balance with insurance proceeds | | | | | Cost of goods sold | $ | 105,448 | | $ | (3,631) | | $ | 101,817 | | Loss (gain) on insurance recoveries | $ | 1,102 | | (8,355) | | $ | (7,253) | | Loss before income tax benefit | $ | (20,193) | | (11,986) | | $ | (8,207) | |
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