SMTC Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 6 - Leases (Tables)

Note 6 - Leases (Tables)

9 Months Ended

Sep. 29, 2019

Notes Tables

Lessee, Operating and Finance Leases, Assets and Liabilities [Table Text Block]

Leases	Classification		September 29 , 2019 ($)
Assets
Operating lease assets	Operating lease right-of-use-asset			3,887
Finance lease assets (a)	Property, plant and equipment			10,134
Total leased assets
Liabilities
Current
Operating leases	Current portion of operating lease obligations			1,483
Finance leases	Current portion of finance lease obligations			1,316
Noncurrent
Operating leases	Operating lease obligations			2,818
Finance leases	Finance lease obligations			9,105
Total lease liabilities				14,722

Lease, Cost [Table Text Block]

			Three months ended				Nine months ended
Lease Cost	Classification		September 29 , 2019 ($)				September 29 , 2019 ($)
Operating lease costs
Fixed lease costs	Cost of sales			647				1,974


Finance lease costs
Depreciation of leased assets	Cost of sales			360				1,081
Interest on lease liabilities	Interest expense			192				640
Sublease income	Selling, general and administrative expenses			47				176

Maturity of Operating and Finance Lease Liability [Table Text Block]

Maturity of lease liabilities as at September 29 , 2019		Operating leases				Finance leases				Total
2019			635				559				1,194
2020			1,371				1,982				3,353
2021			930				1,665				2,595
2022			632				1,323				1,955
2023			606				1,261				1,867
Thereafter			872				7,660				8,532
Total lease payments			5,046				14,450				19,496
Less: Interest			(745	)			(4,029	)			(4,774	)
Present value of lease liabilities			4,301				10,421				14,722

Schedule of Future Minimum Lease Payments for Operating and Finance Leases [Table Text Block]

		Operating leases				Finance leases
2019			2,575				2,417
2020			1,371				1,953
2021			930				1,633
2022			632				1,291
2023			606				1,229
Thereafter			872				7,637
Total minimum lease payments			6,986				16,160
Less interest			(1,047	)			(4,666	)
Present value of capital lease obligations			5,939				11,494

Lessee, Operating and Finance Leases, Weighted Average Remaining Term and Discount Rate [Table Text Block]

Lease term and discount rate		September 29 , 2019
Weighted average remaining term (years)
Operating leases			4.1
Finance leases			8.8
Weighted average discount rate
Operating leases			8.0	%
Finance leases			7.8	%

Lessee, Operating and Finance Leases, Other Information [Table Text Block]

Other information		Three months ended September 29, 2019				Nine months ended September 29, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases			609				1,614
Operating cash flows from finance leases			N/A				N/A
Financing cash flows from finance leases			390				1,199
Leased assets obtained in exchange for new operating lease liabilities			—				—
Leased assets obtained in exchange for new finance lease liabilities			126				126