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Himax Technologies, Inc. (the Parent Company only)

12 Months Ended

Dec. 31, 2018

Disclosure of general information about financial statements [text block]

Note 30.

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 Statements of Financial Position

	January 1, 2017		December 31, 2017		December 31, 2018
	(in thousands)

Cash	$	759		1,362		813
Financial asset at amortized cost		4,399		4,881		4,819
Other receivable from related party		7,150		2,751		2,780
Other current assets		976		498		502
Financial asset at fair value through profit or loss		-		-		8,230
Investments in subsidiaries and affiliates		726,890		751,990		755,680
Total assets	$	740,174		761,482		772,824

Current liabilities	$	284		235		227
Short-term borrowings		119,000		147,000		164,000
Debt borrowing from a subsidiary		154,170		158,924		162,049
Total equity		466,720		455,323		446,548
Total liabilities and equity	$	740,174		761,482		772,824

Himax Technologies, Inc. had no guarantees as of January 1, 2017, December 31, 2017 and 2018.

Condensed Statements of Profit or Loss

	Year ended December 31,
	2017			2018
	(in thousands)

Revenues	$	-			-
Costs and expenses		236			273
Operating loss		(236	)		(273	)
Interest income		170			200
Changes in fair value of financial assets at fair value through profit or loss		-			2,094
Foreign currency exchange losses, net		-			(257	)
Finance costs		(2,322	)		(3,491	)
Share of profits of subsidiaries and affiliates		30,068			10,296
Profit before income taxes		27,680			8,569
Income tax expense		-			-
Profit for the year	$	27,680			8,569

Condensed Statements of Other Comprehensive Income

	Year Ended December 31,
	2017			2018

Profit for the year	$	27,680			8,569
Other comprehensive income:
Items that will not be reclassified to profit or loss:		(67	)		424
Remeasurements of defined benefit pension plans		(82	)		1,269
Unrealized loss on financial assets at fair value through other comprehensive income		-			(676	)
Income tax related to items that will not be reclassified subsequently		15			(169	)
Items that may be reclassified subsequently to profit or loss:		1,175			(334	)
Unrealized gains on financial assets at fair value through profit or loss		313			-
Foreign operations - foreign currency translation differences		862			(334	)
Income tax related to items that may be reclassified subsequently		-			-
Other comprehensive income for the year, net of tax		1,108			90
Total comprehensive income for the year	$	28,788			8,659

Condensed Statements of Cash Flows

	Year ended December 31,
	2017			2018
	(in thousands)
Cash flows from operating activities:
Profit for the year	$	27,680			8,569
Adjustments for:
Changes in fair value of financial assets at fair value through profit or loss		-			(2,094	)
Interest income		(170	)		(200	)
Finance costs		2,322			3,491
Share of profits of subsidiaries and affiliates		(30,068	)		(10,296	)
Foreign currency exchange losses of financial assets		-			257
		(236	)		(273	)
Changes in:
Other current assets		439			(2	)
Other current liabilities		(1,746	)		(2,734	)
Cash generated from operating activities		(1,543	)		(3,009	)
Interest received		131			199
Interest paid		(547	)		(766	)
Net cash used in operating activities		(1,959	)		(3,576	)

	Year ended December 31,
	2017			2018
	(in thousands)
Cash flows from investing activities:
Acquisitions of financial asset at amortized cost		(158	)		(195	)
Acquisitions of equity method investment		(6,850	)		-
Proceeds from disposals of equity method investment		4,825			-
Proceeds from capital reduction of investment		8,000			-
Cash received from (paid for) loan made to related party		4,400			(29	)
Net cash provided by (used in) investing activities		10,217			(224	)
Cash flows from financing activities:
Payments of cash dividends		(41,281	)		(17,210	)
Proceeds from short-term borrowings		151,000			91,000
Repayment of short-term borrowings		(123,000	)		(74,000	)
Proceeds from issue of RSUs from subsidiaries		872			336
Proceeds from debt from a subsidiary		166,025			154,281
Repayment of debt from a subsidiary		(161,271	)		(151,156	)
Net cash provided by (used in) financing activities		(7,655	)		3,251
Net increase (decrease) in cash		603			(549	)
Cash at beginning of year		759			1,362
Cash at end of year	$	1,362			813