Condensed Parent Company Only Financial Statements

12 Months Ended

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

- 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.

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