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Condensed Financial Information of Deswell Industries, Inc. | 12 Months Ended
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Mar. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Financial Information of Deswell Industries, Inc. | 21. Condensed Financial Information of Deswell Industries, Inc. The condensed financial statements of Deswell Industries, Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America. Under the PRC laws and regulations, Deswell Industries, Inc’s PRC subsidiaries are restricted in their ability to transfer certain of their net assets to Deswell Industries, Inc. in the form of dividend payments, loans or advances. The amounts restricted include paid-in capital and statutory reserves, as determined pursuant to PRC generally accepted accounting principles, totaling $76,674 (equivalent to RMB 479 million) and $72,890 (equivalent to RMB 479 million) as of March 31, 2015 and 2016, respectively. Balance sheets
|  | March 31,
|  | 2015 |  | 2016
Assets |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,369 |  |  | $ | 294 |
Prepaid expenses and other current assets |  |  | 76 |  |  |  | 76 |
Amounts due from subsidiaries |  |  | 35,633 |  |  |  | 33,462 |
Total current assets |  |  | 37,078 |  |  |  | 33,832 |
Investments in subsidiaries |  |  | 48,360 |  |  |  | 44,861 |
Property, plant and equipment-net |  |  | 56 |  |  |  | 17 |
Total assets |  | $ | 85,494 |  |  | $ | 78,710 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Accrued payroll and employee benefits |  | $ | 1,315 |  |  | $ | 1,226 |
Other accrued liabilities |  |  | 116 |  |  |  | 114 |
Dividend payable |  |  | — |  |  |  | 562 |
Total current liabilities |  |  | 1,431 |  |  |  | 1,902 |
Total shareholders’ equity |  |  | 84,063 |  |  |  | 76,808 |
Total liabilities and shareholders’ equity |  | $ | 85,494 |  |  |  | 78,710 |
Statements of comprehensive loss
|  | Year ended March 31,
|  | 2014 |  | 2015 |  | 2016
Equity in loss of subsidiaries |  | $ | (5,213 | ) |  | $ | (1,120 | ) |  | $ | (3,426 | )
Operating expenses |  |  | 2,277 |  |  |  | 1,688 |  |  |  | 1,508 |
Loss before income taxes |  |  | (7,490 | ) |  |  | (2,808 | ) |  |  | (4,934 | )
Income taxes |  |  | — |  |  |  | — |  |  |  | — |
Net loss |  |  | (7,490 | ) |  |  | (2,808 | ) |  |  | (4,934 | )
Share of other comprehensive income/(loss) of subsidiaries |  |  | 57 |  |  |  | 33 |  |  |  | (73 | )
Total comprehensive loss |  | $ | (7,433 | ) |  | $ | (2,775 | ) |  | $ | (5,007 | )
Statements of cash flows
|  | Year ended March 31,
|  | 2014 |  | 2015 |  | 2016
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (7,490 | ) |  | $ | (2,808 | ) |  | $ | (4,934 | )
Adjustments to reconcile net loss to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in loss of subsidiaries |  |  | 5,213 |  |  |  | 1,120 |  |  |  | 3,426 |
Depreciation |  |  | 87 |  |  |  | 87 |  |  |  | 39 |
Stock-based compensation expenses |  |  | — |  |  |  | 199 |  |  |  | — |
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Prepaid expenses and other current assets |  |  | 5 |  |  |  | — |  |  |  | — |
Amounts due from subsidiaries |  |  | 7,533 |  |  |  | 3,956 |  |  |  | 2,171 |
Accrued payroll and employee benefits |  |  | 561 |  |  |  | — |  |  |  | (89 | )
Other accrued liabilities |  |  | (30 | ) |  |  | 47 |  |  |  | (2 | )
Net cash provided by operating activities |  |  | 5,879 |  |  |  | 2,601 |  |  |  | 611 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |
Purchase of property, plant and equipment |  |  | — |  |  |  | — |  |  |  | — |
Net cash used in investing activities |  |  | — |  |  |  | — |  |  |  | — |
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |
Dividends paid |  |  | (3,615 | ) |  |  | (2,971 | ) |  |  | (1,686 | )
Exercise of stock options |  |  | 493 |  |  |  | — |  |  |  | — |
Repurchase of common stock |  |  | (1,411 | ) |  |  | — |  |  |  | — |
Net cash used in financing activities |  |  | (4,533 | ) |  |  | (2,971 | ) |  |  | (1,686 | )
Net (decrease) increase in cash and cash equivalents |  |  | 1,346 |  |  |  | (370 | ) |  |  | (1,075 | )
Cash and cash equivalents, beginning of year |  |  | 393 |  |  |  | 1,739 |  |  |  | 1,369 |
Cash and cash equivalents, end of year |  | $ | 1,739 |  |  | $ | 1,369 |  |  | $ | 294 |
| a) | Basis of presentation
In Deswell Industries, Inc. - only financial statements, Deswell Industries, Inc.’s investments in subsidiaries are stated at cost plus its equity interest in undistributed earnings of subsidiaries since inception. Accordingly, such financial statements should be read in conjunction with the Company’s consolidated financial statements. Deswell Industries, Inc. records its investments in its subsidiaries under the equity method of accounting as prescribed in ASC 323 “Investment-Equity Method and Joint Ventures”. Such investment is presented on the balance sheets as “Investments in subsidiaries” and share of the subsidiaries’ profit or loss as “Equity in earnings (loss) of subsidiaries”, on the statements of comprehensive loss. The subsidiaries paid dividends of $nil, $nil and $nil to Deswell Industries, Inc. for the years ended March 31, 2014, 2015 and 2016, respectively. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted.
| b) | Related party transactions
For the years ended March 31, 2014, 2015 and 2016, related party transactions mainly composed of $120, $120 and $120 paid to Jetcrown Industrial (Macao Commercial Offshore) Limited as service fee for each year.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=68079674&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
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