XML 54 R31.htm IDEA: XBRL DOCUMENT v2.4.1.9
CASH, CASH EQUIVALENTS AND SHORT AND LONG TERM INVESTMENTS (Tables)
12 Months Ended
Dec. 31, 2014
CASH, CASH EQUIVALENTS AND SHORT AND LONG TERM INVESTMENTS [Abstract]  
Schedule showing break-down of the Company's total long-term investments
Accounting Method   December 31,
2014
    December 31,
2013
 
 
  (in thousands)  
Cortina Cost Method   $     $ 3,348  
GCT Semiconductor, Inc. Cost Method     811       811  
Xalted Networks   Cost Method           22  
SBI   Cost Method     1,560       1,900  
Investment using Cost Method Total         2,371       6,081  
ACELAND   Equity Method     2,109       2,109  
UiTV   Equity Method           5,308  
Shareholder Loan to ACELAND   Equity Method     7,119       7,119  
Investment using Equity Method Total         9,228       14,536  
UiTV   Available for sale     20,000       25,971  
AioTV   Available for sale     8,000       8,000  
UTStarcom Hong Kong Holdings Ltd   Available for sale     20,200       20,000  
Investments Classified as available-for-sale Total         48,200       53,971  
Total Investment       $ 59,799     $ 74,588  
CASH, CASH EQUIVALENTS AND SHORT AND LONG TERM INVESTMENTS [Line Items]  
Summary of condensed financial information of iTV Media
Condensed
Year Ended
December 31,
2014
  Condensed
Year Ended
December 31,
2013
    Condensed
Year Ended
December 31,
2012
 
(In thousands)   (In thousands)     (In thousands)  
Operating data:                  
Revenue $ 7,460     $ 1,984     $ 165  
Gross profit   $ (116 )   $ (3,164 )   $ (1,835 )
Loss from operations   $ (12,087 )   $ (16,354 )   $ (13,210 )
Net loss   $ (15,469 )   $ (18,170 )   $ (13,460 )
Net loss attributable to UTStarcom Holdings Corp.   $ (13,744 )   $ (15,942 )   $ (12,797 )

 

Year Ended
December 31,
2014
  Year Ended
December 31,
2013
    Year Ended
December 31,
2012
 
(In thousands)   (In thousands)     (In thousands)  
Balance sheet data:                  
Current assets $ 6,582     $ 8,712     $ 4,849  
Long-term assets   $ 10,062     $ 37,538     $ 30,151  
Current liabilities   $ (48,759 )   $ (1,384 )   $ (5,325 )
Long-term liabilities   $ (1,240 )   $ (56,047 )   $ (23,371 )
Non-controlling interests   $ 4,570     $ 2,822     $ 584  
Summary of available-for-sale investments:
   

Cost

   

Impairment
charges and
equity losses

   

Estimated
fair value

 
    (in thousands)  
Convertible bonds of privately-held company   $ 55,113     $ 9,142     $ 45,971  
Preferred convertible shares of privately-held company     8,000             8,000  
Total available-for-sale investments   $ 63,113     $ 9,142     $ 53,971  

Cost
    Impairment
charges and
equity losses
    Unrealized
gain
    Estimated
fair value
 
 
    (in thousands)           
Securities of a public company $ 1,826     $     $ 473     $ 2,299  
Convertible bonds of privately-held company   45,971       5,971       200       40,200  
Preferred convertible shares of privately-held company     8,000                   8,000  
Total available-for-sale investments   $ 55,797     $ 5,971     $ 673     $ 50,499  
Schedule of financial assets measured and recognized at fair value on a recurring basis and classified under the appropriate level of the fair value hierarchy
Level 1   Level 2     Level 3     Total  
(in thousands)
As of December 31, 2014                          
Short-term investments $ 2,299     $     $     $ 2,299  
Long-term investments   $     $     $ 48,200     $ 48,200  
As of December 31, 2013                                
Short-term investments   $     $     $     $  
Long-term investments   $     $     $ 53,971     $ 53,971  
Schedule of changes in financial assets using unobservable inputs (Level 3)
Amount
In thousands
 
As of December 31, 2012 $ 31,000  
Invested in Convertible bonds   32,113  
Less: Impairment Charges   (9,142 )
As of December 31, 2013     53,971  
Invested in Convertible bonds      
Less: Share of loss from Associates     (3,570 )
Less: Impairment Charges     (2,401 )
Add: Unrealized gain     200  
As of December 31, 2014   $ 48,200  
AioTV [Member]  
CASH, CASH EQUIVALENTS AND SHORT AND LONG TERM INVESTMENTS [Line Items]  
Schedule of significant inputs for the valuation model used to estimate fair value of investments
Years Ended
December 31
2014
 
Total fair value of invested capital as at valuation date (in thousands)   11,954  
Risk free rate of interest   1.7 % 
Dividend yield   0.0 %
Expiration date     2017/11/14  
Volatility     55.5 %
UTStarcom Hong Kong Holdings Ltd. [Member]  
CASH, CASH EQUIVALENTS AND SHORT AND LONG TERM INVESTMENTS [Line Items]  
Schedule of significant inputs for the valuation model used to estimate fair value of investments

Years Ended
December 31

2014

 
Total  fair value of invested capital as at valuation date (in thousands) 37,000  
Risk free rate of interest 1.69 % 
Dividend yield 4 % 
Maturity date   2017/8/30  
Volatility   49 % 
UiTV Media Inc [Member]  
CASH, CASH EQUIVALENTS AND SHORT AND LONG TERM INVESTMENTS [Line Items]  
Schedule of significant inputs for the valuation model used to estimate fair value of investments
   

Years Ended
December 31

2014

 
Total fair value of invested capital as at valuation date (in thousands)     20,000