XML 55 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net income $ 55,924 $ 50,138 $ 9,507
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 14,309 13,299 12,795
Bad debt expense 173 0 0
Share-based compensation expenses 1,840 1,936 4,190
Loss on disposals of property and equipment 88 36 121
Gain on disposals of equity method investment (54) 0 (313)
Loss (gain) on disposals of marketable securities, net 8 (648) (350)
Unrealized loss (gain) on conversion option 0 (28) 934
Interest income from amortization of discount on investment in corporate bonds 0 (101) (170)
Impairment loss on investment 0 1,299 0
Equity in losses of equity method investees 122 128 349
Valuation gain on financial liabilities (160) 0 0
Issuance of new shares by subsidiary for royalties 49 0 0
Deferred income tax expense 7,409 8,851 6,492
Inventories write downs 10,759 12,418 9,138
Changes in operating assets and liabilities:      
Accounts receivable (65,106) (34,467) (21,068)
Accounts receivable from related parties 73,267 6,591 16,181
Inventories (71,488) (16,104) (4,135)
Prepaid expenses and other current assets (1,857) 1,421 951
Accounts payable 15,744 1,192 18,431
Income taxes payable 7,055 6,711 (5,616)
Other accrued expenses and other current liabilities 2,812 (172) (2,092)
Other liabilities 229 (333) (1,897)
Net cash provided by operating activities 51,123 52,167 43,448
Cash flows from investing activities:      
Purchases of property and equipment (18,412) (6,560) (18,859)
Proceeds from disposals of property and equipment 0 1 7
Purchases of available-for-sale marketable securities (22,410) (19,609) (17,490)
Disposals of available-for-sale marketable securities 21,792 25,043 25,834
Disposals of equity method investments 0 0 371
Purchases of investment securities (9,189) (3) 0
Proceeds from (repayments of) refundable deposits, net (541) (106) 34
Pledges of restricted cash, cash equivalents and marketable securities (1,761) (7) (94)
Cash increase (decrease) resulting from change in consolidated entity (4) 546 0
Net cash used in investing activities (30,525) (695) (10,197)
Cash flows from financing activities:      
Payments of cash dividends (42,394) (10,680) (21,224)
Excess tax benefits from share-based compensation 1,271 0 0
Proceeds from disposals of subsidiary shares to noncontrolling interests by Himax Technologies Limited 0 97 17
Proceeds from disposals of subsidiary shares to noncontrolling interests by Himax Imaging, Inc. 64 436 3,224
Purchases of subsidiary shares from noncontrolling interests (896) (14) (1,958)
Releases (pledges) of restricted cash, cash equivalents and marketable securities (for borrowing of short-term debt) (32,500) 11,200 (26,700)
Proceeds from issuances of new shares by subsidiaries 9,852 116 53
Payments to repurchase ordinary shares 0 (8,886) (4,627)
Proceeds from short-term debt 352,320 304,000 277,200
Repayments of short-term debt (319,820) (315,200) (250,000)
Net cash used in financing activities (32,103) (18,931) (24,015)
Effect of foreign currency exchange rate changes on cash and cash equivalents 88 32 86
Net increase (decrease) in cash and cash equivalents (11,417) 32,573 9,322
Cash and cash equivalents at beginning of year 138,737 106,164 96,842
Cash and cash equivalents at end of year 127,320 138,737 106,164
Supplemental disclosures of cash flow information:      
Interest 401 352 490
Income taxes 3,272 456 6,326
Supplemental disclosures of non-cash investing activities:      
Issuance of ordinary shares by Himax Display, Inc. to acquire the net assets of Spatial Photonics, Inc. $ 0 $ 270 $ 0