SMTC Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified

12 Months Ended

Dec. 28, 2014

Dec. 29, 2013

Dec. 30, 2012

Operations:

Net earnings (loss)

Items not involving cash:

Unrealized (gain)/loss on derivative instrument (note 8)

Deferred income taxes (recovery)

Amortization of deferred financing fees

Stock-based compensation

Fair value adjustment related to contingent consideration

Loss (gain) on sale of property, plant and equipment

51

Change in non-cash operating working capital:

Accounts receivable

Prepaid expenses

Income taxes payable

94

Accounts payable

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Accrued liabilities

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Drawdown of revolving credit facility

Repayment of long-term debt

Principal payment of capital lease obligations

Proceeds from issuance of common stock

61

Proceeds from sale and leaseback

Payment of contingent consideration

Debt issuance and deferred financing costs

Investment:

Purchase of property, plant and equipment

Proceeds from sale of property, plant and equipment

38

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Increase (decrease) in cash

Cash, beginning of year

Cash, end of the year

Cash interest paid

Cash taxes paid—net

Property, plant and equipment acquired through capital lease

Property, plant and equipment acquired that was unpaid in cash and included in accounts payable and accrued liabilities

[1]

Cash used in accounts payable and accrued liabilities increased by $152 and $531 as at December 29, 2013, which was the result of unpaid property, plant and equipment purchases of $144 offset by cash payments made during 2013 from 2012 additions of $675 which was reclassified from cash flow from investing to accounts payable and accrued liabilities. This was offset by the increased accrual of $32 related to the seniority premium adjustment. Cash provided from accounts payable and accrued liabilities decreased by $497 and $66 respectively as at December 30, 2012, which was the result of unpaid property, plant and equipment purchases of $675 which was reclassified from cash flow from investing. This was offset by the increased accrual of $112 related to the seniority premium adjustment.