Dollars) March 31, 2024 March 31, 2023 December 31, 2023Assets Current assets: Cash and cash equivalents $261,702 $196,286 $191,749 Financial assets at amortized cost 14,334 8,510 12,511 Financial assets at fair value through profit or loss 1,380 19,026 2,117 Accounts receivable, net (including related parties) 212,326 252,155 235,829 Inventories 201,872 335,235 217,308 Income taxes receivable 1,003 35 1,454 Restricted deposit 453,000 369,300 453,000 Other receivable from related parties 136 1,174 69 Other current assets 60,051 106,428 86,548 Total current assets 1,205,804 1,288,149 1,200,585 Financial assets at fair value through profit or loss 21,635 18,264 21,650 Financial assets at fair value through other comprehensive income 1,889 285 1,635 Equity method investments 3,173 6,385 3,490 Property, plant and equipment, net 128,938 124,476 130,109 Deferred tax assets 10,440 11,925 14,196 Goodwill 28,138 28,138 28,138 Other intangible assets, net 851 989 816 Restricted deposit 31 33 32 Refundable deposits 221,886 224,661 222,025 Other non-current assets 20,728 10,981 20,728 437,709 426,137 442,819 Total assets $1,643,513 $1,714,286 $ 1,643,404 Liabilities and Equity Current liabilities: Current portion of long-term unsecured borrowings $6,000 $6,000 $6,000 Short-term secured borrowings 453,000 369,300 453,000 Accounts payable (including related parties) 117,234 135,677 107,342 Income taxes payable 11,071 72,880 15,309 Other payable to related parties 92 2,854 110 Contract liabilities-current 14,739 29,010 17,751 Other current liabilities 116,558 81,941 109,291 Total current liabilities 718,694 697,662 708,803 Long-term unsecured borrowings 33,000 39,000 34,500 Deferred tax liabilities 499 697 520 Contract liabilities-non-current - 46 - Other non-current liabilities 14,823 67,466 35,879 48,322 107,209 70,899 Total liabilities 767,016 804,871 779,702 Equity Ordinary shares 107,010 107,010 107,010 Additional paid-in capital 114,982 113,060 114,648 Treasury shares (5,157) (5,594) (5,157)Accumulated other comprehensive income (94) (84) (180)Retained earnings 653,007 694,052 640,447 Equity attributable to owners of Himax Technologies, Inc. 869,748 908,444 856,768 Noncontrolling interests 6,749 971 6,934 Total equity 876,497 909,415 863,702 Total liabilities and equity $1,643,513 $1,714,286 $1,643,404 Himax Technologies, Inc.
Forward Looking Statements Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company's SEC filings, including those risks identified in the section entitled "Risk Factors" in its Form 20-F for the year ended December 31, 2023 filed with the SEC, as may be amended.
Dollars) Three MonthsEnded March 31, Three Months Ended December 31, 2024 2023 2023 Cash flows from operating activities: Profit for the period $12,277 $14,655 $23,285 Adjustments for: Depreciation and amortization 5,471 5,088 5,115 Share-based compensation expenses 358 805 346 Gain on disposals of property, plant and equipment, net - - (368)Loss on re-measurement of the pre-existing relationships in a business combination - - 1,932 Changes in fair value of financial assets at fair value through profit or loss 7 (41) (1,710)Interest income (2,524) (2,327) (1,934)Finance costs 1,018 1,741 1,140 Income tax expense (benefit) - 2,938 (7,933)Share of losses of associates 221 189 14 Inventories write downs 4,353 5,503 5,727 Unrealized foreign currency exchange losses (gains) (868) 1,186 1,517 20,313 29,737 27,131 Changes in: Accounts receivable (including related parties) 15,704 8,993 8,163 Inventories 11,083 30,195 36,580 Other receivable from related parties (67) 50 (29)Other current assets 2,298 980 (5,682)Accounts payable (including related parties) 13,202 16,192 (627)Other payable to related parties (20) 286 363 Contract liabilities 1,192 (20,111) (958)Other current liabilities (7,780) (1,288) 3,014 Other non-current liabilities 514 2,351 393 Cash generated from operating activities 56,439 67,385 68,348 Interest received 854 1,455 2,665 Interest paid (936) (1,741) (1,140)Income tax refunded (paid) 391 (738) (1,131)Net cash provided by operating activities 56,748 66,361 68,742 Cash flows from investing activities: Acquisitions of property, plant and equipment (2,699) (2,833) (15,052)Proceeds from disposal of property, plant and equipment - - 111 Acquisitions of intangible assets (118) (11) (40)Acquisitions of financial assets at amortized cost (2,439) (571) (4,573)Proceeds from disposal of financial assets at amortized cost 500 541 784 Acquisitions of financial assets at fair value through profit or loss (7,488) (22,222) (5,375)Proceeds from disposal of financial assets at fair value through profit or loss 8,163 195 1,645 Acquisitions of financial assets at fair value through other comprehensive income - - (1,379) Himax Technologies, Inc.
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