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; we recognize lease expense on a straight line basis over the lease term. Total short term lease costs for the months ended was significant.

 

Most leases contain renewal options, this is 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		March 31, 2019 ($)
Assets
Operating lease assets	Operating lease right-of-use-asset			4,904
Finance lease assets (a)	Property, plant and equipment			10,716
Total leased assets				15,620
Liabilities
Current
Operating leases	Current portion of operating lease obligations			2,070
Finance leases	Current portion of finance lease obligations			1,485
Noncurrent
Operating leases	Operating lease obligations			3,338
Finance leases	Finance lease obligations			9,592

 

 

 

			Three months ended
Lease Cost	Classification		March 31, 2019 ($)
Operating lease costs
Fixed lease costs	Cost of sales			547
Finance lease costs
Depreciation of leased assets	Cost of sales			361
Interest on lease liabilities	Interest expense			228
Sublease income	Selling, general and administrative expenses			78

 

Maturity of lease liabilities		Operating leases				Finance leases				Total
2019			1,972				1,772				3,744
2020			1,328				1,953				3,281
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			6,340				15,515				21,855
Less: Interest			(932	)			(4,438	)			(5,370	)
Present value of lease liabilities			5,408				11,077				16,485

 

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		March 31, 2019
Weighted average remaining term (years)
Operating leases			3.9
Finance leases			9.0
Weighted average discount rate
Operating leases			8.0	%
Finance leases			7.8	%

 

 

Other information		Three months ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases			636
Operating cash flows from finance leases			N/A
Financing cash flows from finance leases			417
Leased assets obtained in exchange for new operating lease liabilities			—
Leased assets obtained in exchange for new finance lease liabilities			—