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)

6 Months Ended

Jun. 30, 2019

Notes Tables

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

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

Lease, Cost [Table Text Block]

			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 Operating and Finance Lease Liability [Table Text Block]

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

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

		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

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

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	%

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

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			—				—