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)

3 Months Ended

Mar. 31, 2019

Notes Tables

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

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

Lease, Cost [Table Text Block]

			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 Operating and Finance Lease Liability [Table Text Block]

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

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		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	%

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

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			—