XML 26 R33.htm IDEA: XBRL DOCUMENT v2.4.0.6
Himax Technologies, Inc. (the Parent Company only)
 12 Months Ended
Dec. 31, 2012
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]

Note 24. 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,  
    2011     2012  
    (in thousands)  
             
Cash   $ 584       1,075  
Other current assets     1,146       835  
Investment in non-marketable securities     1,600       1,600  
Investments in subsidiaries     628,528       627,792  
Total assets   $ 631,858       631,302  
                 
Current liabilities   $ 3,921       176  
Short-term debt     65,200       54,000  
Debt borrowing from a subsidiary     169,300       149,183  
Total equity     393,437       427,943  
Total liabilities and equity   $ 631,858       631,302  

 

Himax Technologies, Inc. had no guarantees as of December 31, 2011 and 2012.

 

Condensed Statements of Income

 

    Year ended December 31,  
    2010     2011     2012  
    (in thousands)  
                   
Revenues   $ -       -       -  
Costs and expenses     (1,210 )     (548 )     (695 )
   Operating loss     (1,210 )     (548 )     (695 )
Equity in earnings from subsidiaries     36,427       13,433       54,929  
Other non-operating loss     (2,010 )     (2,179 )     (2,637 )
   Earnings before income taxes     33,207       10,706       51,597  
Income taxes expenses     (1 )     -     (1 )
   Net Income   $ 33,206       10,706       51,596  

 

Condensed Statements of Comprehensive Income

 

    Year Ended December 31,  
    2010     2011     2012  
                                     
Net income   $ -       33,206       -       10,706       -       51,596  
Other comprehensive income (loss):                                                
Unrealized gains (losses) on securities, not subject to income tax:                                                
Unrealized holding gains (losses) on available-for-sale marketable securities arising during the period     1,511       -       (305 )     -       59       -  
Reclassification adjustment for realized losses (gains) included in net income     (296 )     1,215       (350 )     (655 )     (648 )     (589 )
Foreign currency translation adjustments, not subject to income tax             210               128               50  
Net unrecognized actuarial gain (loss), net of tax of $(54), $(125) and $8 in 2010, 2011 and 2012, respectively             (203 )             (573 )             233  
Comprehensive income           $ 34,428               9,606               51,290  

 

                   Condensed Statements of Cash Flows

 

    Year ended December 31,  
    2010     2011     2012  
    (in thousands)  
Cash flows from operating activities:                        
Net income   $ 33,206       10,706       51,596  
Adjustments to reconcile net income to net cash used in operating activities:                        
Equity in earnings from subsidiaries     (36,427 )     (13,433 )     (54,929 )
Changes in operating assets and liabilities:                        
Other current assets     1,543       (790 )     311  
Other current liabilities     (2,542 )     1,767       1,637  
Net cash used in operating activities     (4,220 )     (1,750 )     (1,385 )
Cash flows from financing activities:                        
Distribution of cash dividends     (44,097 )     (21,224 )     (10,680 )
Proceeds from borrowing of short-term debt     204,000       271,200       266,000  
Repayment of short-term debt     (160,000 )     (250,000 )     (277,200 )
Investment returned from subsidiaries     -       -       56,836  
Proceeds from issue of RSUs from a subsidiary     4,370       1,634       1,306  
Purchase of subsidiary shares from noncontrolling interests     -       (1,324 )     -  
Proceeds from (repayment of) debt from a subsidiary     11,000       6,300       (25,500 )
Acquisitions of ordinary shares for retirement     (10,755 )     (4,627 )     (8,886 )
Net cash provided by financing activities     4,518       1,959       1,876  
Net increase in cash     298       209       491  
Cash at beginning of year     77       375       584  
Cash at end of year   $ 375       584       1,075  
                         
Supplemental disclosures of cash flow information:                        
Interest paid during the year   $ 156       353       264  
Income taxes paid during the year   $ 1       -       1