Schedule I - Condensed Unconsolidated Cash Flows

12 Months Ended

Jun. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Schedule I - Notes to the Condensed Unconsolidated Financial Statements



	Year ended June 30,
	2019			2018			2017
Net income (loss) including noncontrolling interest	$	(14,638	)	$	4,948		$	9,260
Other comprehensive income (loss), net of tax
Foreign currency translation adjustment	(5,937		)	244			(1,012		)
Comprehensive income (loss)	(20,575		)	5,192			8,248
Noncontrolling interest	(19,303		)	(9,205		)	(5,118		)
Comprehensive income (loss) attributable to Alpha and Omega Semiconductor Limited	$	(1,272	)	$	14,397		$	13,366



	June 30,
	2019			2018
ASSETS
Current assets:
Cash and cash equivalents	$	5,284		$	4,738
Accounts receivable - Intercompany	—			3,937
Other current assets	325			362
Total current assets	5,609			9,037
Property, plant and equipment, net	119			343
Other long-term assets	242			339
Investment in subsidiaries	459,696			417,185
Total assets	$	465,666		$	426,904

LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$	863		$	742
Accounts payable - Intercompany	21,514			—
Total liabilities	22,377			742
Equity:
Preferred shares, par value $0.002 per share:
Authorized: 10,000 shares; Issued and outstanding: none at June 30, 2019 and 2018	—			—
Common shares, par value $0.002 per share:
Authorized: 100,000 shares; issued and outstanding: 31,163 shares and 24,517 shares, respectively at June 30, 2019 and 30,400 shares and 23,860 shares, respectively at June 30, 2018	62			61
Treasury shares at cost; 6,646 shares at June 30, 2019 and 6,540 shares at June 30, 2018	(66,240		)	(64,790		)
Additional paid-in capital	234,410			220,244
Accumulated other comprehensive income	(2,693		)	440
Retained earnings	125,485			122,639
Total Alpha and Omega Semiconductor Limited shareholder's equity	291,024			278,594
Noncontrolling interest	152,265			147,568
Total equity	443,289			426,162
Total liabilities and equity	$	465,666		$	426,904



	Year Ended June 30,
	2019			2018			2017
Revenue	$	4,292		$	4,096		$	3,772
Cost of revenue	—			—			—
Gross profit	4,292			4,096			3,772

Operating expenses:
General and administrative	4,599			4,479			3,938
Total operating expenses	4,599			4,479			3,938
Operating loss	(307		)	(383		)	(166		)

Interest income	3			7			20
Income (loss) on equity investment in subsidiaries	(14,334		)	5,324			9,406
Net income (loss) including noncontrolling interest	(14,638		)	4,948			9,260
Net loss attributable to noncontrolling interest	(16,499		)	(9,315		)	(4,569		)
Net income attributable to Alpha and Omega Semiconductor Limited	$	1,861		$	14,263		$	13,829



	Year Ended June 30,
	2019			2018			2017
Cash flows from operating activities
Net income (loss) including noncontrolling interest	$	(14,638	)	$	4,948		$	9,260
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	274			464			469
Share-based compensation expense	432			503			428
Equity in net (income) loss of subsidiaries	14,334			(5,324		)	(9,406		)
Other	—			—			33
Changes in assets and liabilities:
Accounts receivable - intercompany	3,937			14,316			(4,868		)
Other current assets	134			(199		)	(134		)
Accounts payable and accrued liabilities	121			(182		)	256
Accounts payable - intercompany	21,514			—			—
Net cash provided by (used in) operating activities	26,108			14,526			(3,962		)
Cash flows from investing activities
Purchases of property and equipment	(51		)	—			—
Investment in subsidiaries	(25,000		)	(10,000		)	—
Net cash used in investing activities	(25,051		)	(10,000		)	—
Cash flows from financing activities
Withholding tax on restricted stock units	(2,028		)	(2,363		)	(2,071		)
Proceeds from exercise of stock options and ESPP	3,018			4,956			10,699
Payments for repurchases of common shares	(1,501		)	(15,098		)	—
Net cash provided by (used in) financing activities	(511		)	(12,505		)	8,628
Net increase (decrease) in cash and cash equivalents	546			(7,979		)	4,666
Cash and cash equivalents at beginning of year	4,738			12,717			8,051
Cash and cash equivalents at end of year	$	5,284		$	4,738		$	12,717

1. Basis of Presentation

Alpha and Omega Semiconductor Limited is the parent company of all Alpha and Omega Semiconductor subsidiaries. It was incorporated in Bermuda on September 27, 2000 as an exempted limited liability company. The address of its registered office is Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda.

The accompanying condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of its subsidiaries exceed 25% of the consolidated net assets of Alpha and Omega Semiconductor Limited and its subsidiaries (the “Company”).

The parent company records its investment in subsidiaries under the equity method of accounting. Such investment is presented on the balance sheet as "Investment in subsidiaries" and the subsidiaries' net income (loss) are recognized based on the effective shareholding percentage as income on equity investment in subsidiaries on the statement of operations. Intercompany balances and transactions have not been eliminated. The revenue recorded represents intercompany administrative service fees charged by the parent company starting in fiscal year 2013.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The footnote disclosures contain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company.

2. Restricted net assets of subsidiaries

For a discussion of the Company’s restricted net assets of subsidiaries, see Note 12 of the Company’s consolidated financial statements.

3. Commitments and contingencies

In March 2016, the Company executed the JV Agreement with the Chongqing Funds to form a joint venture for the construction of a new state-of -the-art power semiconductor packaging, testing and wafer fabrication facility in Liangjiang New Area of Chongqing. The Company expects to commence initial packaging production as soon as the required milestones, including certain construction and funding milestones, have been met, and there is no assurance that we can meet these milestones in a timely manner.

In January 2017, the JV Company entered into an Engineering, Procurement and Construction Contract (the "EPC Contract") with The IT Electronics Eleventh Design & Research Institute Scientific and Technological Engineering Corporation Limited. The total price payable by the JV Company under the EPC Contract is approximately $78.0 million, which consists of $2.8 million of design fees and $75.2 million of construction and procurement fees. As of June 30, 2019, we had paid approximately $69.9 million, and expects to pay the remaining of $8.7 million in the near term.

For a discussion of the Company’s commitments and contingencies, see Note 13 to the Company’s consolidated financial statements.