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Condensed Parent Company Only Financial Statements | 12 Months Ended
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Aug. 31, 2012
Condensed Parent Company Only Financial Statements |
Condensed Parent Company Only Financial Statements |
17. Condensed Parent Company Only Financial Statements As a holding company, dividends received from SemiLEDs' subsidiaries in Taiwan, if any, will be subject to withholding tax under Taiwan law, as well as statutory and other legal restrictions. The condensed parent company only financial information for SemiLEDs is presented below (in thousands):
Condensed Balance Sheets |  | August 31, 2012 |  | August 31, 2011 |
--- | --- | --- | --- | --- | ---
ASSETS |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 18,744 |  | $ | 75,348 |
Prepaid expenses and other current assets |  |  | 3,367 |  |  | 1,276 |
Intangible assets, net |  |  | 73 |  |  | 79 |
Investments in subsidiaries |  |  | 87,509 |  |  | 65,710 |
Investments in unconsolidated entities |  |  | 714 |  |  | 14,148 |
TOTAL ASSETS |  | $ | 110,407 |  | $ | 156,561 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |
Accrued expenses and other current liabilities |  | $ | 2,589 |  | $ | 183 |
Total equity |  |  | 107,818 |  |  | 156,378 |
TOTAL LIABILITIES AND EQUITY |  | $ | 110,407 |  | $ | 156,561 |
Except for the litigation with Cree disclosed in Note 8, SemiLEDs had no other contingencies, long-term obligations and guarantees as of August 31, 2012 or August 31, 2011.
|  | Years Ended August 31, |
--- | --- | --- | ---
Condensed Statements of Operations |  | 2012 |  | 2011 |  | 2010 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses |  | $ | 2,534 |  | $ | 2,699 |  | $ | 502 |
Provision for litigation settlement (Note 8) |  |  | 1,500 |  |  | — |  |  | — |
Loss from operations |  |  | (4,034 | ) |  | (2,699 | ) |  | (502 | )
Other income (expenses): |  |  |  |  |  |  |  |  |  |
Equity in losses from unconsolidated entities, net |  |  | (13,426 | ) |  | (2,769 | ) |  | (126 | )
Equity in earnings (losses) from subsidiaries, net |  |  | (32,096 | ) |  | (10,762 | ) |  | 11,453 |
Interest income |  |  | 99 |  |  | 126 |  |  | 1 |
Other income |  |  | — |  |  | — |  |  | 2 |
Total other income (expenses), net |  |  | (45,423 | ) |  | (13,405 | ) |  | 11,330 |
Net income (loss) |  | $ | (49,457 | ) | $ | (16,104 | ) | $ | 10,828 |
|  | Years Ended August 31, |
--- | --- | --- | ---
Condensed Statements of Cash Flows |  | 2012 |  | 2011 |  | 2010 |
Net cash provided by (used in): |  |  |  |  |  |  |  |  |  |
Operating activities |  | $ | (999 | ) | $ | 2,097 |  | $ | (94 | )
Investing activities |  |  | (55,678 | ) |  | (20,101 | ) |  | (14,746 | )
Financing activities |  |  | 73 |  |  | 92,775 |  |  | 15,291 |
Net increase (decrease) in cash and cash equivalents |  |  | (56,604 | ) |  | 74,771 |  |  | 451 |
Cash and cash equivalents at beginning of year |  |  | 75,348 |  |  | 577 |  |  | 126 |
Cash and cash equivalents at end of year |  | $ | 18,744 |  | $ | 75,348 |  | $ | 577 |

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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 SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 Reference 5: 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=7656940&loc=d3e5283-111683 Reference 6: 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=6881521&loc=d3e24072-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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