Himax Technologies, Inc. (the Parent Company only) (Tables)

12 Months Ended

Dec. 31, 2014

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

Condensed Balance Sheets

	December 31,
	2013		2014
	(in thousands)

Cash	$	268		372
Other current assets		912		1,688
Investment in non-marketable securities		5,600		432
Investments in subsidiaries		680,841		725,974
Total assets	$	687,621		728,466

Current liabilities	$	233		227
Short-term debt		86,500		111,000
Debt borrowing from a subsidiary		151,064		144,615
Total equity		449,824		472,624
Total liabilities and equity	$	687,621		728,466

Condensed Statements of Income

	Year ended December 31,
	2012		2013		2014
			(in thousands)

Revenues	$	-		-		-
Costs and expenses		695		(248)		525
Operating Income (loss)		(695)		248		(525)
Equity in earnings from subsidiaries		54,929		59,402		49,656
Gain on sale of investment securities		-		-		10,743
Other non-operating income (loss)		(2,637)		1,826		6,724
Earnings before income taxes		51,597		61,476		66,598
Income taxes expenses		(1)		-		-
Net Income	$	51,596		61,476		66,598

Condensed Statements of Comprehensive Income

	Year Ended December 31,
	2012		2013		2014
			(in thousands)

Net income	$	51,596		61,476		66,598
Other comprehensive income (loss):
Unrealized losses on securities, not subject to income tax:		(589)		(4)		(2)
Unrealized holding gains (losses) on available-for-sale marketable securities arising during the period		59		(12)		(33)
Reclassification adjustment for realized losses (gains) included in net income		(648)		8		31
Foreign currency translation adjustments, not subject to income tax		52		161		(170)
Net unrecognized actuarial gain (loss), net of tax of $8, $(99) and $43 in 2012, 2013 and 2014, respectively		234		(432)		268
Comprehensive income	$	51,293		61,201		66,694

Condensed Statements of Cash Flows

	Year ended December 31,
	2012		2013		2014
			(in thousands)
Cash flows from operating activities:
Net income	$	51,596		61,476		66,598
Adjustments to reconcile net income to net cash used in operating activities:
Equity in earnings from subsidiaries		(54,929)		(59,402)		(49,656)
Gain on sale of investment securities		-		-		(10,743)
Changes in operating assets and liabilities:
Other current assets		311		(77)		(775)
Other current liabilities		1,637		57		(5)
Net cash provided by (used in) operating activities		(1,385)		2,054		5,419
Cash flows from investing activities:
Purchases of investment securities		-		(4,000)		-
Disposals of investment securities		-		-		14,743
Purchases of equity method investments		-		(60)		-
Proceeds from capital reduction of investments		-		-		1,168

	Year ended December 31,
	2012		2013		2014
			(in thousands)
Net cash provided by (used in) investing activities		-		(4,060)		15,911
Cash flows from financing activities:
Distribution of cash dividends	$	(10,680)		(42,394)		(46,042)
Proceeds from borrowing of short-term debt		266,000		295,320		370,500
Repayment of short-term debt		(277,200)		(262,820)		(346,000)
Investment returned from subsidiaries		56,836		-		11
Proceeds from issue of RSUs from subsidiaries		1,306		9,212		6,754
Proceeds from (repayment of) debt from a subsidiary		(25,500)		1,881		(6,449)
Acquisitions of ordinary shares for retirement		(8,886)		-		-
Net cash provided by (used in) financing activities		1,876		1,199		(21,226)
Net increase (decrease) in cash		491		(807)		104
Cash at beginning of year		584		1,075		268
Cash at end of year	$	1,075		268		372

Supplemental disclosures of cash flow information:
Interest paid during the year	$	264		301		431
Income taxes paid during the year	$	1		-		-