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 exercisable 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 and sublease facility lease that is occupied by SMTC.    

 

 

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

 

 

 

			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 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

 

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			2,575				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

 

 

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	%

 

 

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