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Himax Technologies, Inc. (the Parent Company only)
 12 Months Ended
Dec. 31, 2011
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
Note 22. Himax Technologies, Inc. (the Parent Company only)

 

As a holding company, dividends received from Himax Technologies, Inc.’s subsidiaries in Taiwan, if any, will be subjected to withholding tax under ROC law as well as statutory and other legal restrictions.

 

The condensed separate financial information of Himax Technologies, Inc. is presented as follows:

 

Condensed Balance Sheets

 

    December 31,  
    2010     2011  
    (in thousands)  
             
Cash   $ 375       584  
Other current assets     356       1,146  
Investment in non-marketable securities     1,600       1,600  
Investments in subsidiaries     612,703       628,528  
Total assets   $ 615,034       631,858  
Current liabilities   $ 2,156       3,921  
Short-term debt     44,000       65,200  
Debt borrowing from a subsidiary     163,000       169,300  
Total equity     405,878       393,437  
Total liabilities and equity   $ 615,034       631,858  
                 

 

Himax Technologies, Inc. had no guarantees as of December 31, 2010 and 2011.

  

Condensed Statements of Income

 

    Year ended December 31,  
    2009     2010     2011  
    (in thousands)  
                   
Revenues   $ -       -       -  
Costs and expenses     (1,080 )     (1,210 )     (548 )
Operating loss     (1,080 )     (1,210 )     (548 )
Equity in earnings from subsidiaries     40,834       36,427       13,433  
Other non-operating loss     (104 )     (2,010 )     (2,179 )
Earnings before income taxes     39,650       33,207       10,706  
Income taxes     -       1       -  
Net Income   $ 39,650       33,206       10,706  

 

Condensed Statements of Cash Flows

 

    Year ended December 31,  
    2009     2010     2011  
    (in thousands)  
Cash flows from operating activities:                        
Net income   $ 39,650       33,206       10,706  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:                        
Share-based compensation expense     24       -       -  
Equity in earnings from subsidiaries     (40,834 )     (36,427 )     (13,433 )
Changes in operating assets and liabilities:                        
Other current assets     (826 )     1,543       (790 )
Other accrued expenses and other current liabilities     654       (2,542 )     1,767  
Net cash used in operating activities     (1,332 )     (4,220 )     (1,750 )
Net cash used in investing activities     (11,400 )     -       -  
Cash flows from financing activities:                        
Distribution of cash dividends     (55,496 )     (44,097 )     (21,224 )
Proceeds from borrowing of short-term debt     80,000       204,000       271,200  
Repayment of short-term debt     (80,000 )     (160,000 )     (250,000 )
Proceeds from issue of RSUs from a subsidiary     6,598       4,370       1,634  
Purchase of subsidiary shares from noncontrolling interests     -       -       (1,324 )
Proceeds from debt from a subsidiary     95,400       11,000       6,300  
Acquisitions of ordinary shares for retirement     (36,596 )     (10,755 )     (4,627 )
Net cash provided by financing activities     9,906       4,518       1,959  
Net increase (decrease) in cash     (2,826 )     298       209  
Cash at beginning of year     2,903       77       375  
Cash at end of year   $ 77       375       584  
Supplemental disclosures of cash flow information:                        
Interest paid during the year   $ 3       156       353  
Income taxes paid during the year   $ -       1       -