XML 32 R16.htm IDEA: XBRL DOCUMENT
v3.21.1

LEASE ARRANGEMENTS | 12 Months Ended
--- | ---
Dec. 31, 2020
Leases [Abstract] |
LEASE ARRANGEMENTS | NOTE 9. LEASE ARRANGEMENTS a. Right-of-use assets
|  | 2019 |
(in US$ thousands) |  | Cost |  |  | Accumulated depreciation |  |  | Net |
Recognition of right-of-use assets upon adoption of ASC 842 at beginning of year (Note 1) |  | $ | 1,056 |  |  | $ | — |  |  | $ | 1,056 |
Recognition of impairment upon adoption of ASC 842 at beginning of year (Note 1) |  |  | (1,056 | ) |  |  | — |  |  |  | (1,056 | )
Balance at end of year |  | $ | — |  |  | $ | — |  |  | $ | — |
b. Lease liabilities
|  | December 31 |
(in US$ thousands) |  | 2019 |  |  | 2020 |
Carrying amount: |  |  |  |  |  |  |  |
Current portion (classified under other current liabilities) |  | $ | 498 |  |  | $ | 95 |
Noncurrent portion |  |  | 94 |  |  |  | 3 |
|  | $ | 592 |  |  | $ | 98 |
Discount rates for the existing lease liabilities ranged from 1.7% to 2.8%. c. Material terms of right-of-use assets We lease office premises, office equipment and automobile for operational use with lease terms of 2 to 5 years. We do not have purchase options to acquire the leasehold office premises at the end of the lease terms. d. Supplemental information Supplemental disclosures of cash flow information consist of the following:
|  | For the Year ended December 31 |
(in US$ thousands) |  | 2019 |  |  | 2020 |
Cash paid for operating leases |  | $ | 510 |  |  | $ | 533 |
Right-of-use assets obtained in exchange for operating lease liabilities |  |  | 1,056 |  |  |  | — |
Operating lease expenses were $15 thousand and $6 thousand during the years ended December 31, 2019 and 2020, respectively. The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the consolidated balance sheet as of December 31, 2020:
(in US$ thousands) |  |  |  | Operating Leases |
Year |  |  |  |  |  |
2021 |  |  |  | $ | 96 |
2022 |  |  |  |  | 1 |
2023 |  |  |  |  | 1 |
2024 |  |  |  |  | 1 |
2025 |  |  |  |  | — |
Total minimum lease payments |  |  |  |  | 99 |
Less: amount of lease payments representing interest |  |  |  |  | (1 | )
Present value of future minimum lease payments |  |  |  |  | 98 |
Less: current obligation under leases |  |  |  |  | (95 | )
Non-current lease obligations |  |  |  | $ | 3 |
We have elected the transition option under ASU 2016-02 and continued to apply the prior accounting standard for leases, including the disclosure requirements, in the comparative periods. Future minimum lease p ayments due under those lease agreements as of December 31, 2018, were as follows:
(in US$ thousands) |  | December 31, 2018 |
Not later than 1 year |  | $ | 450 |
Later than 1 year and not later than 5 years |  |  | 504 |
Later than 5 years |  |  | — |
Balance at end of year |  | $ | 954 |
Rent expense for the year ended December 31, 2018 was $493 thousand, recognized on a straight-line basis for the Company’s office and car leases which were accounted for as operating leases.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration