The Company leases certain facility leases in various jurisdictions, including office space and manufacturing, warehouse space. The Company also leases certain production equipment. Leases with an initial term of months or less are recorded on the balance sheet. Lease expense is recognized on a straight-line basis over the lease term. Total short-term lease costs for the and months ended was significant.

 

Most leases contain renewal options, which are at the Company’s sole discretion. The extension terms are typically to years. Some leases include options to purchase the leased property. The depreciable life is limited to the lease term unless title transfers or it is reasonably certain that a purchase option will be exercised. Operating lease liabilities recognized do include related to options to extend lease terms that are reasonably certain of being exercised at Finance lease liabilities do include related to options to extend lease terms that are reasonably certain of being exercised at

 

We rent or sublease facility lease that is occupied by SMTC.    

 

 

Leases	Classification		June 30 , 2019 ($)
Assets
Operating lease assets	Operating lease right-of-use-asset			4,445
Finance lease assets (a)	Property, plant and equipment			10,356
Total leased assets				14,801
Liabilities
Current
Operating leases	Current portion of operating lease obligations			1,891
Finance leases	Current portion of finance lease obligations			1,401
Noncurrent
Operating leases	Operating lease obligations			3,019
Finance leases	Finance lease obligations			9,284
Total lease liabilities				15,595

 

 

 

			Three months ended				Six months ended
Lease Cost	Classification		June 30 , 2019 ($)				June 30 , 2019 ($)
Operating lease costs
Fixed lease costs	Cost of sales			780				1,327
Finance lease costs
Depreciation of leased assets	Cost of sales			360				721
Interest on lease liabilities	Interest expense			220				448
Sublease income	Selling, general and administrative expenses			51				129

 

 

Maturity of lease liabilities as at June 30, 2019		Operating leases				Finance leases				Total
2019			1,377				1,160				2,494
2020			1,328				1,953				3,324
2021			930				1,633				2,563
2022			632				1,291				1,923
2023			606				1,229				1,835
Thereafter			872				7,637				8,509
Total lease payments			5,745				14,903				20,648
Less: Interest			(835	)			(4,218	)			(5,053	)
Present value of lease liabilities			4,910				10,685				15,595

 

The company’s future minimum lease payments as of in accordance with legacy lease accounting standards, under non-cancelable operating and financing lease agreements were as follows:

 

		Operating leases				Finance leases
2019			2,590				2,417
2020			1,328				1,953
2021			930				1,633
2022			632				1,291
2023			606				1,229
Thereafter			872				7,637
Total minimum lease payments			6,958				16,160
Less interest			(1,043	)			(4,666	)
Present value of capital lease obligations			5,915				11,494

 

 

Lease term and discount rate		June 30 , 2019
Weighted average remaining term (years)
Operating leases			3.5
Finance leases			8.6
Weighted average discount rate
Operating leases			8.0	%
Finance leases			7.8	%

 

 

Other information		Three months ended June 30, 2019				Six months ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases			369				1,005
Operating cash flows from finance leases			N/A				N/A
Financing cash flows from finance leases			392				809
Leased assets obtained in exchange for new operating lease liabilities			—				—
Leased assets obtained in exchange for new finance lease liabilities			—				—