Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2021shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Entity File Number | 000-51847 |
Entity Registrant Name | Himax Technologies, Inc. |
Entity Incorporation, State or Country Code | E9 |
Entity Address, Address Line One | NO. 26, ZIH LIAN ROAD |
Entity Address, Address Line Two | SINSHIH DISTRICT |
Entity Address, Postal Zip Code | 74148 |
Entity Address, City or Town | TAINAN CITY |
Entity Address, Country | TW |
Entity Central Index Key | 0001342338 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Trading Symbol | HIMX |
Entity Common Stock, Shares Outstanding | 348,597,140 |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Title of 12(b) Security | Ordinary Shares, par value $0.3 per ordinary share |
Security Exchange Name | NASDAQ |
ICFR Auditor Attestation Flag | false |
Auditor Name | KPMG |
Auditor Firm ID | 1026 |
Auditor Location | Hsinchu, Taiwan |
Business Contact | |
Document Information [Line Items] | |
Entity Address, Address Line One | No. 15, Zih Lian Road |
Entity Address, Address Line Two | Sinshih District |
Entity Address, Postal Zip Code | 74148 |
Entity Address, City or Town | Tainan City |
Entity Address, Country | TW |
Contact Personnel Name | Jessica Pan |
Contact Personnel Email Address | jessica_pan@himax.com.tw |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 336,024 | $ 184,938 |
Financial assets at amortized cost | 26,013 | 8,682 |
Financial assets at fair value through profit or loss | 2,345 | 7,799 |
Accounts receivable, net (including related parties) | 410,211 | 243,626 |
Inventories | 198,600 | 108,707 |
Income taxes receivable | 54 | 91 |
Restricted deposit | 154,100 | 104,000 |
Other receivable from related parties | 1,217 | 1,200 |
Other current assets | 64,280 | 35,368 |
Total current assets | 1,192,844 | 694,411 |
Financial assets at fair value through profit or loss | 13,668 | 13,966 |
Financial assets at fair value through other comprehensive income | 410 | 742 |
Equity method investments | 3,302 | 3,983 |
Property, plant and equipment, net | 133,236 | 132,074 |
Deferred tax assets | 7,191 | 15,739 |
Goodwill | 28,138 | 28,138 |
Other intangible assets, net | 6,617 | 7,876 |
Restricted deposit | 36 | 141 |
Refundable deposits | 199,982 | 12,144 |
Other non-current assets | 17,770 | 604 |
Total non current assets | 410,350 | 215,407 |
Total assets | 1,603,194 | 909,818 |
Current liabilities: | ||
Current portion of long-term unsecured borrowings | 6,000 | 6,000 |
Short-term secured borrowings | 151,400 | 104,000 |
Accounts payable (including related parties) | 248,425 | 173,471 |
Income taxes payable | 96,552 | 13,466 |
Other payable to related parties | 1,641 | 2,572 |
Contract liabilities-current | 37,663 | 6,622 |
Other current liabilities | 59,544 | 46,111 |
Total current liabilities | 601,225 | 352,242 |
Long-term unsecured borrowings | 46,500 | 52,500 |
Deferred tax liabilities | 965 | 1,138 |
Contract liabilities-non-current | 10,221 | 0 |
Other non-current liabilities | 72,301 | 18,739 |
Total liabilities | 731,212 | 424,619 |
Equity | ||
Ordinary shares | 107,010 | 107,010 |
Additional paid-in capital | 108,841 | 107,293 |
Treasury shares | (5,761) | (6,516) |
Accumulated other comprehensive income | (666) | (548) |
Retained earnings | 660,300 | 272,937 |
Equity attributable to owners of Himax Technologies, Inc. | 869,724 | 480,176 |
Noncontrolling interests | 2,258 | 5,023 |
Total equity | 871,982 | 485,199 |
Total liabilities and equity | $ 1,603,194 | $ 909,818 |
Consolidated Statements of Prof
Consolidated Statements of Profit or Loss - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Revenues: | ||||
Revenues from third parties, net | $ 1,546,972 | $ 887,282 | $ 671,835 | |
Revenues from related parties, net | 125 | 0 | 0 | |
Total revenues | 1,547,097 | 887,282 | 671,835 | |
Costs and expenses: | ||||
Cost of revenues | 798,519 | 666,501 | 533,916 | |
Research and development | 151,386 | 122,265 | 114,859 | |
General and administrative | 29,281 | 23,915 | 23,672 | |
Expected (reversal of) credit losses | (190) | 0 | 67 | |
Sales and marketing | 23,080 | 16,675 | 17,628 | |
Total costs and expenses | 1,002,076 | 829,356 | 690,142 | |
Operating income (loss) | 545,021 | 57,926 | (18,307) | |
Non operating income (loss): | ||||
Interest income | 876 | 967 | 2,013 | |
Changes in fair value of financial assets at fair value through profit or loss | (284) | 472 | 3,746 | |
Foreign currency exchange gains (losses), net | 1,096 | (327) | (546) | |
Finance costs | (1,074) | (1,705) | (2,325) | |
Share of losses of associates | (1,392) | (638) | (477) | |
Other income | 349 | 177 | 128 | |
Total non operating income (loss) | (429) | (1,054) | 2,539 | |
Profit (loss) before income taxes | 544,592 | 56,872 | (15,768) | |
Income tax expense | 110,657 | 11,712 | 416 | |
Profit (loss) for the year | 433,935 | 45,160 | (16,184) | |
Loss attributable to noncontrolling interests | 2,961 | 1,974 | 2,570 | |
Profit (loss) attributable to Himax Technologies, Inc. stockholders | $ 436,896 | $ 47,134 | $ (13,614) | |
Basic earnings (loss) per ordinary share attributable to Himax Technologies, Inc. stockholders | $ 1.25 | $ 0.14 | $ (0.04) | |
Diluted earnings (loss) per ordinary share attributable to Himax Technologies, Inc. stockholders | 1.25 | 0.14 | (0.04) | |
Basic earnings (loss) per ADS attributable to Himax Technologies, Inc. stockholders | [1] | 2.50 | 0.27 | (0.08) |
Diluted earnings (loss) per ADS attributable to Himax Technologies, Inc. stockholders | [1] | $ 2.50 | $ 0.27 | $ (0.08) |
[1] | As the Company’s ordinary shares have been quoted on the NASDAQ Global Select Market under the symbol “HIMX” in the form of ADSs and two ordinary shares represent one ADS with effect from August 10, 2009. The number of ADS equivalent outstanding is determined by dividing the number of ordinary shares by two. Therefore, the weighted average number of ADS equivalent outstanding used in basic earnings per ADS for 2019, 2020 and 2021 is 172,550 thousand, 172,854 thousand and 174,614 thousand, respectively. Additionally, the weighted average number of ADS equivalent outstanding used in diluted earnings per ADS for 2019, 2020 and 2021 is 172,550 thousand, 173,383 thousand and 174,867 thousand, respectively. The earnings (loss) per ADS is presented solely for the convenience of the reader and does not represent a measure under IFRS. |
Consolidated Statements of Othe
Consolidated Statements of Other Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Consolidated Statements of Other Comprehensive Income | |||
Profit (loss) for the year | $ 433,935 | $ 45,160 | $ (16,184) |
Items that will not be reclassified to profit or loss: | |||
Remeasurements of defined benefit pension plans | 165 | (214) | 214 |
Unrealized gain (loss) on financial assets at fair value through other comprehensive income | (181) | 65 | (35) |
Income tax related to items that will not be reclassified subsequently | (27) | 38 | (25) |
Items that may be reclassified subsequently to profit or loss: | |||
Foreign operations - foreign currency translation differences | (72) | 556 | (545) |
Other comprehensive income for the year, net of tax | (115) | 445 | (391) |
Total comprehensive income for the year | 433,820 | 45,605 | (16,575) |
Total comprehensive income attributable to noncontrolling interests | 2,958 | 1,933 | 2,558 |
Total comprehensive income attributable to Himax Technologies, Inc. stockholders | $ 436,778 | $ 47,538 | $ (14,017) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) shares in Thousands, $ in Thousands | Ordinary shares [member] | Additional paid-in capital [member] | Treasury shares [member] | Accumulated other Comprehensive income [member] | Retained earnings [member] | Noncontrolling interests [member] | Equity attributable to owners of parent [member] | Total |
Balance at Dec. 31, 2018 | $ 107,010 | $ 104,749 | $ (8,819) | $ (549) | $ 244,157 | $ (4,261) | $ 446,548 | $ 442,287 |
Balance (in shares) at Dec. 31, 2018 | 356,700 | (12,409) | ||||||
IFRS Statement [Line Items] | ||||||||
Profit (loss) for the year | (13,614) | (2,570) | (13,614) | (16,184) | ||||
Other comprehensive income | (403) | 12 | (403) | (391) | ||||
Total comprehensive income for the year | (403) | (13,614) | (2,558) | (14,017) | (16,575) | |||
Contributions by and distributions to owners | ||||||||
Share-based compensation expenses | 452 | 5 | 452 | 457 | ||||
Restricted stock vested (in shares) | 77 | |||||||
Restricted stock vested | (55) | $ 55 | ||||||
Aggregate of contribution by and distribution to owners (in shares) | 77 | |||||||
Aggregate of contribution by and distribution to owners | 397 | $ 55 | 5 | 452 | 457 | |||
Changes in ownership interests | ||||||||
Dilution gain of equity method investment | 4 | 4 | 4 | |||||
Transfer of financial liability to noncontrolling interests | 5,071 | 5,071 | ||||||
Aggregate of Changes in Ownership Interests | 4 | 5,071 | 4 | 5,075 | ||||
Balance at Dec. 31, 2019 | $ 107,010 | 105,150 | $ (8,764) | (952) | 230,543 | (1,743) | 432,987 | 431,244 |
Balance (in shares) at Dec. 31, 2019 | 356,700 | (12,332) | ||||||
IFRS Statement [Line Items] | ||||||||
Profit (loss) for the year | 47,134 | (1,974) | 47,134 | 45,160 | ||||
Other comprehensive income | 404 | 41 | 404 | 445 | ||||
Total comprehensive income for the year | 404 | 47,134 | (1,933) | 47,538 | 45,605 | |||
Contributions by and distributions to owners | ||||||||
Share-based compensation expenses | 755 | 8 | 755 | 763 | ||||
Restricted stock vested (in shares) | 16 | |||||||
Restricted stock vested | (11) | $ 11 | ||||||
Employee stock options exercised (in shares) | 3,150 | |||||||
Employee stock options exercised | 1,408 | $ 2,237 | 3,645 | 3,645 | ||||
Aggregate of contribution by and distribution to owners (in shares) | 3,166 | |||||||
Aggregate of contribution by and distribution to owners | 2,152 | $ 2,248 | 8 | 4,400 | 4,408 | |||
Changes in ownership interests | ||||||||
New shares issued by subsidiary | (34) | (4,740) | 8,695 | (4,774) | 3,921 | |||
Dilution gain of equity method investment | 25 | 25 | 25 | |||||
Transfer of financial liability to noncontrolling interests | 0 | |||||||
Declaration of cash dividends by subsidiary | (4) | (4) | ||||||
Aggregate of Changes in Ownership Interests | (9) | (4,740) | 8,691 | (4,749) | 3,942 | |||
Balance at Dec. 31, 2020 | $ 107,010 | 107,293 | $ (6,516) | (548) | 272,937 | 5,023 | 480,176 | 485,199 |
Balance (in shares) at Dec. 31, 2020 | 356,700 | (9,166) | ||||||
IFRS Statement [Line Items] | ||||||||
Profit (loss) for the year | 436,896 | (2,961) | 436,896 | 433,935 | ||||
Other comprehensive income | (118) | 3 | (118) | (115) | ||||
Total comprehensive income for the year | (118) | 436,896 | (2,958) | 436,778 | 433,820 | |||
Contributions by and distributions to owners | ||||||||
Declaration of cash dividends | (47,404) | (47,404) | (47,404) | |||||
Share-based compensation expenses | 662 | 38 | 662 | 700 | ||||
Restricted stock vested (in shares) | 15 | |||||||
Restricted stock vested | (10) | $ 10 | ||||||
Employee stock options exercised (in shares) | 1,049 | |||||||
Employee stock options exercised | 499 | $ 745 | 1,244 | 1,244 | ||||
Aggregate of contribution by and distribution to owners (in shares) | 1,064 | |||||||
Aggregate of contribution by and distribution to owners | 1,151 | $ 755 | (47,404) | 38 | (45,498) | (45,460) | ||
Changes in ownership interests | ||||||||
Purchase of subsidiaries shares from noncontrolling interest | (1,789) | 175 | (1,789) | (1,614) | ||||
Dilution gain of equity method investment | 397 | (340) | 57 | 57 | ||||
Transfer of financial liability to noncontrolling interests | 0 | |||||||
Declaration of cash dividends by subsidiary | (20) | (20) | ||||||
Aggregate of Changes in Ownership Interests | 397 | (2,129) | 155 | (1,732) | (1,577) | |||
Balance at Dec. 31, 2021 | $ 107,010 | $ 108,841 | $ (5,761) | $ (666) | $ 660,300 | $ 2,258 | $ 869,724 | $ 871,982 |
Balance (in shares) at Dec. 31, 2021 | 356,700 | (8,102) |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity [Parenthetical] | 12 Months Ended |
Dec. 31, 2021$ / shares | |
Consolidated Statements of Changes in Equity. | |
Declaration of cash dividends per share | $ 0.136 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Profit (loss) for the year | $ 433,935 | $ 45,160 | $ (16,184) |
Adjustments for: | |||
Depreciation and amortization | 21,342 | 23,596 | 24,399 |
Expected (reversal of) credit losses recognized on accounts receivable | (190) | 0 | 67 |
Share-based compensation expenses | 700 | 763 | 457 |
Gains on disposal of property, plant and equipment, net | (147) | (244) | (90) |
Changes in fair value of financial assets at fair value through profit or loss | 284 | (472) | (3,746) |
Interest income | (876) | (967) | (2,013) |
Finance costs | 1,074 | 1,705 | 2,325 |
Income tax expense | 110,657 | 11,712 | 416 |
Share of losses of associates | 1,392 | 638 | 477 |
Inventories write downs | 9,448 | 11,919 | 25,447 |
Unrealized foreign currency exchange losses (gains) | (953) | (239) | 121 |
cash flows from operating activities before changes in operating Capital | 576,666 | 93,571 | 31,676 |
Changes in: | |||
Accounts receivable (including related parties) | (166,395) | (78,297) | 23,992 |
Inventories | (99,341) | 24,772 | (6,660) |
Other receivable from related parties | (17) | 0 | 0 |
Other current assets | (7,633) | (2,881) | 35 |
Other non-current assets | (19,460) | 0 | 0 |
Accounts payable (including related parties) | 74,954 | 57,335 | (36,180) |
Other payable to related parties | (931) | 352 | (1,577) |
Contract liabilities | 41,262 | 4,720 | 1,447 |
Other current liabilities | 13,736 | 1,134 | (581) |
Other non-current liabilities | (4,697) | 5,350 | 256 |
Cash generated from operating activities | 408,144 | 106,056 | 12,408 |
Interest received | 852 | 1,066 | 2,060 |
Interest paid | (1,074) | (1,811) | (2,372) |
Income tax paid | (19,646) | (2,701) | (4,440) |
Net cash provided by operating activities | 388,276 | 102,610 | 7,656 |
Cash flows from investing activities: | |||
Acquisitions of property, plant and equipment | (7,562) | (5,786) | (45,922) |
Proceeds from disposal of property, plant and equipment | 0 | 249 | 98 |
Acquisitions of intangible assets | (468) | (87) | (152) |
Acquisitions of financial assets at amortized cost | (25,362) | (3,829) | (4,023) |
Proceeds from disposal of financial assets at amortized cost | 8,011 | 6,735 | 4,171 |
Acquisitions of financial assets at fair value through profit or loss | (23,417) | (19,743) | (50,487) |
Proceeds from disposal of financial assets at fair value through profit or loss | 29,141 | 12,068 | 50,648 |
Acquisition of business | 0 | 0 | (700) |
Acquisition of a subsidiary, net of cash acquired | 0 | 1,302 | (400) |
Proceeds from capital reduction of investment | 151 | 32 | 47 |
Acquisitions of equity method investments | (598) | (792) | (129) |
Increase in refundable deposits | (213,056) | (13,992) | (2,821) |
Releases (pledges) of restricted deposit | (2,595) | (8) | 323 |
Cash paid for loan made to related party | 0 | 0 | (1,200) |
Cash received from loan made to related party | 0 | 0 | 2,780 |
Cash received in advance from disposal of land | 3,075 | 1,486 | 0 |
Net cash used in investing activities | (232,680) | (22,365) | (47,767) |
Cash flows from financing activities: | |||
Payments of cash dividends | (47,424) | (4) | 0 |
Proceeds from issuance of new shares by subsidiaries | 0 | 884 | 0 |
Purchases of subsidiary shares from noncontrolling interests | (1,627) | 0 | 0 |
Proceeds from short-term unsecured borrowings | 15,000 | 208,137 | 244,224 |
Repayments of short-term unsecured borrowings | (15,000) | (265,355) | (207,006) |
Proceeds from long-term unsecured borrowings | 0 | 60,000 | 0 |
Repayments of long-term unsecured borrowings | (6,000) | (1,500) | 0 |
Proceeds from short-term secured borrowings | 611,600 | 278,000 | 158,000 |
Repayments of short-term secured borrowings | (564,200) | (338,000) | (158,000) |
Release (pledge) of restricted deposit | (47,400) | 60,000 | 0 |
Payment of lease liabilities | (4,668) | (2,608) | (1,957) |
Guarantee deposits received | 54,050 | 0 | 0 |
Proceeds from exercise of employee stock options | 1,182 | 3,707 | 0 |
Net cash provided by (used in) financing activities | (4,487) | 3,261 | 35,261 |
Effect of foreign currency exchange rate changes on cash and cash equivalents | (23) | 377 | (532) |
Net increase (decrease) in cash and cash equivalents | 151,086 | 83,883 | (5,382) |
Cash and cash equivalents at beginning of year | 184,938 | 101,055 | 106,437 |
Cash and cash equivalents at end of year | $ 336,024 | $ 184,938 | $ 101,055 |
Reporting entity
Reporting entity | 12 Months Ended |
Dec. 31, 2021 | |
Reporting entity | |
Reporting entity | Note 1. Reporting entity Himax Technologies Limited, an exempted company with limited liability under the Cayman Islands Companies Law, was incorporated on April 26, 2005 and changed the name to “Himax Technologies, Inc.” on September 26, 2005. Since March 2006, Himax Technologies, Inc.’s ordinary shares have been quoted on the NASDAQ Global Select Market under the symbol “HIMX” in the form of ADSs and two ordinary shares represent one ADS with effect from August 10, 2009. The registered office in the Cayman Islands is located at Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands. The principal executive office is located at No. 26, Zih Lian Road, Sinshih District, Tainan City 74148, Taiwan, Republic of China. The principal operating activities of Himax Technologies, Inc. and subsidiaries (collectively, the Company) are described in Note 4(b). |
Basis of preparation
Basis of preparation | 12 Months Ended |
Dec. 31, 2021 | |
Basis of preparation | |
Basis of preparation | Note 2. Basis of preparation (a) Statement of compliance The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements were authorized for issuance by the Board of Directors on March 23, 2022. (b) Basis of measurement The consolidated financial statements have been prepared on the historical cost basis except for the following material items in the statement of financial position: 1. Financial assets at fair value through profit or loss; 2. Financial assets at fair value through other comprehensive income; 3. The defined benefit liability (asset) is recognized as the fair value of the plan assets less the present value of the defined benefit obligation. |
Application of new and revised
Application of new and revised IFRS as issued by the IASB | 12 Months Ended |
Dec. 31, 2021 | |
Application of new and revised IFRS as issued by the IASB | |
Application of new and revised IFRS as issued by the IASB | Note 3. Application of new and revised IFRS as issued by the IASB a. Amendments to IFRSs and the new interpretation that are mandatorily effective for the current year Effective Date New, Revised or Amended Standards and Interpretations Announced by IASB Amendments to IFRS 4 “Extension of the Temporary Exemption from Applying IFRS 9” January 1, 2021 Amendments to IFRS 9, IAS39, IFRS7, IFRS 4 and IFRS 16 “Interest Rate Benchmark Reform—Phase 2” January 1, 2021 Amendments to IFRS 16 “Covid-19-Related Rent Concessions beyond June 30, 2021’’ April 1, 2021 The Company believes that the adoption of the above IFRSs did not have a significant impact on its consolidated financial statements. b. New and revised standards, amendments and interpretations in issue but not yet effective In preparing the accompanying consolidated financial statements, the Company has not adopted the following International Financial Reporting Standards (“IFRS”), International Accounting Standards (“IAS”), Interpretations developed by the International Financial Reporting Interpretations Committee (“IFRIC”) or the former Standing Interpretations Committee (“SIC”) issued by the International Accounting Standards Board (“IASB”) (collectively, “IFRSs”). Effective Date New, Revised or Amended Standards and Interpretations Announced by IASB Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets Between an Investor and Its Associate or Joint Venture” Effective date to be determined by IASB IFRS 17 “Insurance Contracts” January 1, 2023 Amendments to IAS 1 “Classification of Liabilities as Current or Non-current” January 1, 2023 Amendments to IFRS 17 “Insurance Contracts” January 1, 2023 Amendments to IAS 1 “Disclosure of Accounting Policies” January 1, 2023 Amendments to IAS 8 “Definition of Accounting Estimates” January 1, 2023 Amendments to IAS 12 “Deferred Tax related to Assets and Liabilities arising from a Single Transaction” January 1, 2023 Amendments to IAS 16 “Property, Plant and Equipment—Proceeds before Intended Use” January 1, 2022 Amendments to IAS 37 “Onerous Contracts—Cost of Fulfilling a Contract” January 1, 2022 Annual Improvements to IFRS Standards 2018–2020 January 1, 2022 Amendments to IFRS 3 “Reference to the Conceptual Framework” January 1, 2022 As of the date of the consolidated financial statements were authorized for issue, the Company continues in assessing other possible impacts that application of the abovementioned amendments will have on the Company’s financial position and financial performance and will disclose these other impacts when the assessment is completed. |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2021 | |
Significant accounting policies | |
Significant accounting policies | Note 4. Significant accounting policies The significant accounting policies applied in the preparation of these consolidated financial statements are set out as below. The accounting policies set out below have been applied consistently to all periods presented in these consolidated financial statements, except if mentioned otherwise. The accounting policies have been applied consistently by consolidated entities. (a) Basis of Consolidation The accompanying consolidated financial statements include the accounts and operations of Himax Technologies, Inc. and its majority owned subsidiaries and entities that it has a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. (b) List of Subsidiaries in the Consolidated Financial Statements Following is general information about Himax Technologies, Inc.’s subsidiaries: Percentage of Ownership Jurisdiction of December 31, December 31, Investor Subsidiary Main activities Incorporation 2020 2021 Himax Technologies, Inc. Himax Technologies Limited (“Himax Taiwan”) IC design and sales ROC 100.00 % 100.00 % Himax Technologies, Inc. Himax Technologies Korea Ltd. IC design and sales South Korea 100.00 % 100.00 % Himax Technologies, Inc. Himax Technologies Japan Ltd. Sales Japan 100.00 % 100.00 % Himax Technologies, Inc. Himax Semiconductor (Hong Kong) Limited Investments Hong Kong 100.00 % 100.00 % Himax Technologies Limited Himax Technologies (Samoa), Inc. Investments Samoa 100.00 % 100.00 % Himax Technologies (Samoa), Inc. Himax Technologies (Suzhou) Co., Ltd. Sales and technical support PRC 100.00 % 100.00 % Himax Technologies (Samoa), Inc. Himax Technologies (Shenzhen) Co., Ltd. Sales and technical support PRC 100.00 % 100.00 % Himax Technologies Limited Himax Display, Inc. LCoS and MEMS design, manufacturing and sales ROC 82.68 % 83.54 % Himax Display, Inc. Integrated Microdisplays Limited LCoS design Hong Kong 82.68 % 83.54 % Himax Display, Inc. Himax Display (USA) Inc. LCoS and MEMS design, sales and technical support Delaware, USA 82.68 % 83.54 % Himax Technologies Limited Himax Analogic, Inc. IC design and sales ROC 98.62 % 98.62 % Himax Technologies, Inc. Himax Imaging, Inc. Investments Cayman Islands 100.00 % 100.00 % Himax Technologies Limited Himax Imaging, Ltd. (“Imaging Taiwan”) IC design and sales ROC 96.85 % 98.42 % Himax Imaging, Ltd. Himax Imaging Corp. IC design California, USA 96.85 % 98.42 % Himax Technologies Limited Himax Media Solutions, Inc. ASIC service ROC 99.22 % 99.22 % Himax Technologies Limited Harvest Investment Limited Investments ROC 100.00 % 100.00 % Himax Technologies Limited Liqxtal Technology Inc. LC Lens design and sales ROC 67.49 % 67.49 % Himax Technologies Limited Himax IGI Precision Ltd. 3D micro and nano structure mastering and prototype replication Delaware, USA 100.00 % 100.00 % Himax Technologies Limited Emza Visual Sense Ltd. Visual sensors and efficient machine vision algorithm Israel 100.00 % 100.00 % Himax Technologies Limited CM Visual Technology Corp. (1) Omniwide film products design and sales ROC 66.71 % 66.71 % Note (1): On October 30, 2020, Himax Technologies Limited acquired 66.71% of the shareholdings of CM Visual Technology Corp. (“CMVT”) and therefore, obtained control over CMVT. Refer to Note 5(c) for further details. Principal Activities The Company is a fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company is a worldwide market leader in display driver ICs and timing controllers used in TVs, laptops, monitors, mobile phones, tablets, automotive, digital cameras, car navigation, virtual reality (VR) devices and many other consumer electronics devices. Additionally, the Company designs and provides controllers for touch sensor displays, in-cell Touch and Display Driver Integration (TDDI) single-chip solutions, LED driver ICs, power management ICs, and LCoS micro-displays for augmented reality (AR) devices and heads-up displays (HUD) for automotive. The Company also offers CMOS image sensors, wafer level optics for AR devices, 3D sensing and ultralow power AI image sensing, which are used in a wide variety of applications such as mobile phone, tablet, laptop, TV, PC camera, automobile, security, medical devices, home appliance, AIoT, etc. (c) Foreign Currency The reporting currency of the Company is the United States dollar (USD). The functional currency for the Company and its major operating subsidiaries is the USD. Accordingly, the assets and liabilities of subsidiaries whose functional currency is other than the USD are included in the consolidation by translating the assets and liabilities into the reporting currency (the USD) at the exchange rates applicable at the end of the reporting period. Equity accounts are translated at historical rates. The statements of profit or loss and cash flows are translated at the average exchange rates at the date of transaction. Translation gains or losses are accumulated as a separate component of equity in accumulated other comprehensive income. (d) Classification of Current and Noncurrent Assets and Liabilities Current assets are assets held for trading purposes and assets expected to be converted to cash, sold or consumed within one year from the end of the reporting period. Current liabilities are obligations incurred for trading purposes and obligations expected to be settled within one year from the end of the reporting period. Assets and liabilities that are not classified as current are noncurrent assets and liabilities, respectively. (e) Cash and Cash Equivalents Cash comprise cash balances and demand deposits. Cash equivalents comprise short-term highly liquid investments that are readily convertible into known amounts of cash and are subject to an insignificant risk of changes in their fair value. Deposits with an original maturity of three months or less at the time of purchase but not for investments and other purposes and are qualified with the aforementioned criteria are classified as cash equivalent. (f) Financial Instruments The Company shall recognize a financial asset or a financial liability in its statement of financial position when, and only when, the Company becomes party to the contractual provisions of the instrument. A regular way purchase or sale of financial assets shall be recognized and derecognized, as applicable, using trade date accounting. 1. Financial Assets (i) Classification of financial assets The classification of financial assets depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. Financial assets are classified into the following categories: measured at amortized cost, measured at fair value through other comprehensive income (FVTOCI) and measured at fair value through profit or loss (FVTPL). The classification of financial assets is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. When, and only when, the Company changes its business model for managing financial assets it shall reclassify all affected financial assets. i. Financial assets measured at amortized cost A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as measured at fair value through profit or loss: (i) the asset held within a business model whose objective is to hold assets to collect contractual cash flows; and (ii) the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets measured at amortized cost are subsequently measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss. ii. Financial assets measured at fair value through other comprehensive income (FVTOCI) On initial recognition of an equity investment that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investment-by-investment basis. Equity investments at FVTOCI are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI. When an investment is derecognized, the cumulative gain or loss in equity will not be reclassified to profit or loss, instead, is reclassified to retained earnings. iii. Financial assets measured at fair value through profit or loss (FVTPL) All financial assets not classified as measured at amortized cost or at fair value through other comprehensive income as described above are measured at fair value through profit or loss. Such financial assets are initially recognized at fair value, and attributable transaction costs are recognized in profit or loss as incurred. Subsequent to initial recognition, they are measured at fair value and changes therein are recognized in profit or loss. (ii) Impairment of financial assets The Company recognizes loss allowances for expected credit loss on financial assets measured at amortized cost (including accounts receivable) and contract assets. The loss allowance for accounts receivable and contract assets are measured at an amount equal to lifetime expected credit losses. For financial assets at amortized cost and contract assets, when the credit risk on the financial instrument has not increased significantly since initial recognition, a loss allowance is recognized at an amount equal to expected credit loss resulting from possible default events of a financial instrument within 12 months after the reporting date. If, on the other hand, there has been a significant increase in credit risk since initial recognition, a loss allowance is recognized at an amount equal to expected credit loss resulting from all possible default events over the expected life of a financial instrument. When determining whether the credit risk of a financial instrument has increased significantly since initial recognition, the Company considers reasonable and supportable information that is relevant. This includes both qualitative and quantitative information and analysis, based on the Company’s historical experience and credit assessment as well as forward-looking information. The Company recognizes an impairment gain or loss in profit or loss for all financial instruments with a corresponding adjustment to their carrying amount through a loss allowance account. (iii) Derecognition of financial assets The Company derecognizes a financial asset only when the contractual rights to the cash flows from the financial asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the financial asset to another entity. On derecognition of a financial asset at amortized cost in its entirety, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss. However, on derecognition of an investment in an equity instrument at FVTOCI, the cumulative gain or loss that had been recognized in other comprehensive income is transferred directly to retained earnings, without recycling through profit or loss. 2. Financial Liabilities (i) Classification of financial liability The Company classify all financial liabilities as measured at amortized cost, except for financial liabilities measured at fair value through profit or loss. Such liabilities, including derivatives that are liabilities, shall be subsequently measured at fair value. (ii) Derecognition of financial liability The Company removes a financial liability from its statement of financial position when, and only when, it is extinguished-when the obligation specified in the contract is discharged or cancelled or expires. On derecognition of a financial liability at amortized cost in its entirety, the difference between the carrying amount of a financial liability extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, shall be recognized in profit or loss. (g) Inventories Inventories primarily consist of raw materials, work-in-process and finished goods awaiting final assembly and test and are stated at the lower of cost and net realizable value. Cost is determined using the weighted-average method. For work-in-process and manufactured inventories, cost consists of the cost of raw materials (primarily fabricated wafer and processed tape), direct labor and an appropriate proportion of production overheads. Net realizable value for raw materials is based on replacement cost. Net realizable value for finished goods and work in process is calculated based on the estimated selling price less all estimated costs of completion and necessary selling costs. (h) Equity Method Investments Equity investments in entities where the Company has the ability to exercise significant influence over the operating and financial policy decisions of the investee but does not have a controlling financial interest in the investee, are accounted for using the equity method. The Company’s share of the net income or net loss of an investee is recognized in earnings from the date the significant influence commences until the date that significant influence ceases. The difference between the cost of an investment and the amount of underlying equity in net assets of an investee at investment date is allocated to related assets which are amortized over their useful lives. Any unallocated difference is treated as investor-level goodwill and is not amortized. The Company discontinues the use of the equity method from the date when the Company ceases to have significant influence over an associate, and then measures the retained interests at fair value at that date. The difference between the carrying amount of the investment at the date the equity method was discontinued and the fair value of the retained interests along with any proceeds from disposing of a part of the interest in the associate is recognized in profit or loss. When the Company discontinues the use of the equity method, the Company shall account for all amounts previously recognized in other comprehensive income in relation to that investment on the same basis as would have been required if the investee had directly disposed of the related assets or liabilities. At the end of each reporting period, if there is any indication of impairment, the entire carrying amount of the investment including goodwill is tested for impairment as a single asset, by comparing its recoverable amount with its carrying amount. An impairment loss recognized forms part of the carrying amount of the investment in associates. Accordingly, any reversal of that impairment loss is recognized to the extent that the recoverable amount of the investment subsequently increases. (i) Property, Plant and Equipment Property, plant and equipment consists primarily of land, building and machinery and equipment used in the design and development of products, and is stated at cost less accumulated depreciation and any accumulated impairment loss. Depreciation on building and machinery and equipment commences when the asset is ready for its intended use. Except for the following paragraph, depreciation is primarily calculated on the straight-line method over the estimated useful lives of related assets which range as follows: building 25 years, building improvements 4 to 16 years, machinery 4 to 10 years, research and development equipment 2 to 6 years, office furniture and equipment 3 to 8 years, others 2 to 10 years. Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or the estimated useful life of the asset. Embedded software is amortized on a straight-line basis over the estimated useful lives ranging from 2 to 10 years. Land is not depreciated. If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment. During the year 2017, certain new machinery and equipment have been acquired for specific project. The depreciation on these new assets is calculated on Fixed-Percentage-on-Declining-Base Method basis over the estimated useful lives of 3 years. The Company thinks that method would most closely reflect the expected pattern of consumption of the future economic benefits embodied in those assets. Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate. (j) Leases a. Identifying a lease A contract is, or contains, a lease when all the following conditions are satisfied: (i) the contract involves the use of an identified asset, and the supplier does not have a substantive right to substitute the asset; and (ii) the Company has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use; and (iii) the Company has the right to direct the use of the identified asset throughout the period of use. b. As a lessee Payments for leases of low-value assets and short-term leases are recognized as expenses on a straight-line basis during the lease term for which the recognition exemption is applied. Except for leases described above, a right-of-use asset and a lease liability shall be recognized for all other leases at the lease commencement date. The Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The lease liability is initially measured at the present value of the lease payments, discounted using the lessee's incremental borrowing rate. The Company determines its incremental borrowing rate by obtaining interest rates from various external financing sources. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability, adjusted for any lease payments made at or before the commencement date, less any lease incentives received, plus any initial direct costs incurred and an estimate of costs to be incurred in restoring the underlying asset. The right-of-use asset is subsequently depreciated using the straight-line method over the shorter of the useful life of the right-of-use asset or the lease term. The lease liability is subsequently measured at amortized cost using the effective interest method. It is remeasured (i) if there is a change in the lease term; (ii) if there is a change in future lease payments arising from a change in an index or a rate; (iii) if there is a change in the amounts expected to be payable under a residual value guarantee; or (iv) if the Company changes its assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in the circumstances aforementioned, a corresponding adjustment is made to the carrying amount of the right-of-use asset. However, if the carrying amount of the right-of-use asset is reduced to zero, any remaining amount of the remeasurement is recognized in profit or loss. Lease payments included in the measurement of the lease liability comprise the following: (i) fixed payments, including in-substance fixed payments. (ii) the exercise price under a purchase option that the Company is reasonably certain to exercise and lease payments in an optional renewal period if the Company is reasonably certain to exercise an extension option. Moreover, the lease liability is remeasured when lease modifications occur that decrease the scope of the lease. The Company accounts for the remeasurement of the lease liability by decreasing the carrying amount of the right-of-use asset to reflect the partial or full termination of the lease and recognizes in profit or loss any gain or loss relating to the partial or full termination of the lease. c. As a lessor Lease income from an operating lease is recognized in profit or loss on a straight-line basis over the lease term. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the asset leased. (k) Goodwill Goodwill is recognized when the purchase price exceeds the fair value of identifiable net assets acquired in a business combination. Goodwill is measured at cost less accumulated impairment losses, if any. Goodwill from acquisition of Himax Semiconductor, Inc. (formerly Wisepal Technologies, Inc., merged into Himax Technologies Limited on July 2, 2018) in 2007 amounting $26,846 thousand has been assigned to Driver IC cash generating unit (“CGU”) and goodwill from acquisition of Himax Display (USA) Inc. in 2012 amounting $1,292 thousand has been assigned to WLO CGU because these CGUs are expected to benefit from the synergies of the business combinations. Goodwill is not amortized and instead is reviewed for impairment at least annually, or more frequently when there is an indication that the CGU may be impaired. For the purpose of impairment testing, goodwill is allocated to each of the Company’s CGU or groups of CGU that are expected to benefit from the synergies of the combination. If the recoverable amount of a cash-generating unit is less than its carrying amount, the difference is allocated first to reduce the carrying amount of any goodwill allocated to such CGU and then to the other assets of the CGU pro rata based on the carrying amount of each asset in the CGU. Any impairment loss for goodwill is recognized directly in profit or loss. An impairment loss recognized for goodwill is not reversed in subsequent periods. The recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use which was calculated based on the cash flow forecast from the financial budgets covering the future five-year period with the terminal growth rate. The annual discount rate was 18.28% and 8.05% in its test of Goodwill impairment for Driver IC CGU as of December 31, 2020 and 2021, respectively, based on industry weighted average cost of capital. The annual discount rate for WLO CGU was 15.41% and 13.33% as of December 31, 2020 and 2021, respectively. The terminal growth rate, based on following 5 years average Taiwan economic growth rate published by International Monetary Fund, was 2.32% and 2.46% used in the test for both CGUs as of December 31, 2020 and 2021, respectively. The key assumptions abovementioned represents the management’s forecast of the future for the related industry by considering the history information from internal and external sources. For the years ended December 31, 2019, 2020 and 2021, the Company did not recognize any impairment loss on goodwill. (l) Other Intangible Assets Acquired intangible assets include patents, intellectual property and developed technology acquired in a business combination. These intangible assets are amortized on a straight-line basis over the following estimated useful lives: software 2-10 years, patents 12-15 years, intellectual property 10 years and technology 7 years. Amortization methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate. (m) Impairment of Non-Financial Assets The Company’s long-term non-financial assets, which consist of property, plant and equipment and intangible assets, are reviewed at the reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. Considering the terminal growth rate if non-financial assets with an indefinite useful life are allocated to the CGU in comparison with its carrying amount. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the “cash-generating unit, or CGU”). The annual discount rate was 13.23% and 11.40% in its test of non-financial assets impairment with an indefinite useful life for CMOS CGU as of December 31, 2020 and 2021, respectively, based on industry weighted average cost of capital. The terminal growth rate, based on following 5 years average Taiwan economic growth rate published by International Monetary Fund, was 2.32% and 2.46% used in the test as of December 31, 2020 and 2021, respectively. The key assumptions abovementioned represents the management's forecast of the future for the related industry by considering the history information from internal and external sources. An impairment loss is recognized if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss. When an impairment loss subsequently reverses, the carrying amount of the asset or a CGU is increased to the revised estimate of its recoverable amount, but the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset or CGU in prior years. A reversal of an impairment loss is recognized immediately in profit or loss. (n) Revenue Recognition IFRS 15 establishes principles for recognizing revenue that apply to all contracts with customers, using a five-step model framework to determine the method, timing and amount of revenue recognized. The Company generates revenue primarily from sale of goods or services. Revenue from contracts with customers is disaggregated by primarily geographical market and major products. Under IFRS 15, the Company identifies the contract with the customers and recognizes revenue when performance obligations are satisfied. Revenue is measured based on the consideration that the Company expects to be entitled in the transfer of goods or services to a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. Customers obtain control of the product when the goods are delivered and accepted by customers. Invoices are generated at that point in time. The Company's revenue recognition from product sales is measured at the amount that is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Revenue is reduced for estimated rebates and other similar allowances. Trade receivable is recognized when the Company is entitled for unconditional right to receive payment upon delivery of goods to customers. The consideration received in advance from the customer but without delivery of goods is recognized as a contract liability, for which revenue is recognized when the control over the goods is transferred to the customer. The Company expects that the length of time when the Company transfers the goods or services to the customer and when the customer pays for those goods or services will be less than one year. Therefore, the amount of consideration is not adjusted for the time value of money. (o) Employee Benefits 1. Short-term employee benefits Short-term employee benefits are expensed unless another policy allows or requires it to be capitalized. Liabilities recognized in respect of short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in exchange for service rendered by employees. 2. Share-based payment arrangements The cost of employee services received in exchange for share-based compensation is measured based on the grant-date fair value of the share-based instruments issued. The cost of employee services is equal to the grant-date fair value of shares issued to employees and is recognized in earnings with a corresponding increase in equity over the service period by graded vesting. Compensation cost also considers the number of awards management believes will eventually vest. As a result, compensation cost is reduced by the estimated forfeitures. The estimate is adjusted each period to reflect the current estimate of forfeitures, and finally, the actual number of awards that vest. 3. Defined contribution plans Obligations for contributions to defined contribution pension plans are recognized as an employee benefit expense in profit or loss in the periods during which services are rendered by employees. 4. Defined benefit plans The Company’s net obligation in respect of defined benefit pension plans is calculated separately for each benefit plan by estimating the amount of future benefit that employees have earned in the current and prior periods, discounting that amount and deducting the fair value of any plan assets. For defined benefit retirement benefit plans, the cost of providing benefit is recognized based on actuarial calculations. Defined benefit costs (including service cost, net interest and remeasurement) under the defined benefit retirement benefit plans are determined using the Projected Unit Credit Method. Service cost (including current service cost), and net interest on the net defined benefit liability (asset) are recognized as employee benefits expense in profit or loss in the period they occur. Remeasurement, comprising actuarial gains and losses and the return on plan assets (excluding interest), is recognized in other comprehensive income in the period in which they occur. Remeasurement recognized in other comprehensive income is reflected immediately in retained earnings and will not be reclassified to profit or loss. (p) Income Taxes Income tax expense comprises current and deferred taxes. It is recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive income. 1. Current tax Current taxes comprise the expected tax payable or receivable on the taxable income or losses for the year and any adjustments to tax payable or receivable in respect of previous years. It is measured using tax rates enacted or substantively enacted tax rate at the reporting date. 2. Deferred tax Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts of existing assets and liabilities in the financial statements and their respective tax bases, and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized; such reductions are reversed when the probability of future taxable profits improves. (q) Business Combinations Acquisitions of businesses are accounted for using the acquisition method. Acquisition-related costs are generally recognized in profit or loss as incurred. Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest in the acquiree over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. Non-controlling interests are initially measured at the non-controlling interests’ proportionate share of the fair value of the acquiree’s identifiable net assets. Any contingent consideration payable is measured at fair value at the acquisition date. If the contingent consideration is classified as equity, then it is not remeasured and settlement is accounted for within equity. Otherwise, subsequent changes in the fair value o |
Acquisition
Acquisition | 12 Months Ended |
Dec. 31, 2021 | |
Acquisition | |
Acquisition | Note 5. Acquisition (a) Acquisition of nano 3D mastering related business On February 21, 2018, the Company, through Himax IGI Precision Ltd., completed the acquisition of nano 3D mastering related business with total cash consideration approximating $1,400 thousand, and half of which, $700 thousand, was paid in 2019. The advanced nano 3D manufacturing masters are primarily used in imprinting or stamping replication process to fabricate devices such as diffractive optical element (DOE), diffuser, collimator lens and micro lens array. The acquisition brings the Company the very upstream master tooling capability to supplement its world leading wafer level optics (WLO) technology, which is critical in its efforts to offer 3D sensing total solutions. Acquired assets were valued at estimates of their current fair values. Property, plant and equipment, other intangible asset and prepaid maintenance acquired were $700 thousand, $400 thousand and $300 thousand, respectively. (b) Acquisition of Emza Visual Sense Ltd. Emza Visual Sense Ltd.(“Emza”) was purchased in April 2017 with an original investment amount of $2,230 thousand together with an additional investment amount of $270 thousand through conversion of equal amount of debts which occurred in 2016. On June 28, 2018, the Company completed the acquisition of all the outstanding common shares of Emza with total cash consideration approximating $6,371 thousand, including $400 thousand holdback was paid in 2019. The Company’s previously held equity interests in Emza was re-measured at fair value, which was determined with the assistance of an independent appraiser using the equity value allocation method at acquisition date. The re-measurement gain on the previously held equity interests in Emza was $1,662 thousand which is included in “other income” in the consolidated statements of profit or loss. Emza is an Israeli company dedicated to the development of visual sensors that include proprietary machine-vision algorithms and specific architectures that enable always-on visual sensing capabilities, achieving improvement in power consumption, price and form factor. This acquisition would allow the Company to fully leverage the synergy into producing visual sensors that integrate camera, hardware and algorithms and operate at unprecedented power, cost and size. The results of Emza’s operations have been included in the Company’s consolidated financial statements since that date. The amounts of Emza’s revenues and losses included in the consolidated statements of profit or loss from the acquisition date to the period ended December 31, 2018 were $72 thousand and $2,858 thousand, respectively. If the acquisition had occurred on January 1, 2018, management estimates that consolidated revenue would have been $723,605 thousand (unaudited), and consolidated profit for the year would have been $7,291 thousand (unaudited). In determining these amounts, management has assumed that the fair value adjustments that arose on the date of acquisition would have been the same if the acquisition had occurred on January 1, 2018. The Company incurred acquisition-related costs of $195 thousand on legal fees and due diligence costs. These costs have been included in “general and administrative expenses” in the consolidated statements of profit or loss. The following table summarizes the amounts of estimated fair value of the assets acquired and liabilities assumed at the date of acquisition. Fair value (in thousands) Recognized amounts of identifiable assets acquired and liabilities assumed: Cash $ 170 Current assets, other than cash 335 Property, plant and equipment 27 Deferred tax assets 1,445 Other intangible assets 8,545 Other current liabilities (2,706) Deferred tax liabilities (1,445) Total identifiable net assets acquired $ 6,371 Acquired tangible assets were valued at estimates of their current fair values. The valuation of acquired intangible assets consisting of the core and developed technology $6,282 thousand and trademark $1,800 thousand were determined based on management’s estimates and consultation with an independent appraiser. The multi-period excess earnings method was used in applying the income approach to determine the fair value of acquired intangible assets. Significant assumptions inherent in the valuation method for acquired intangible assets are employed and included, but are not limited to, prospective financial information, terminal value, and discount rates. When performing the multi-period excess earnings method for acquired intangible assets, the Company incorporates the use of projected financial information and a discount rate that are developed using market participant based assumptions. The cash-flow projections are based on seven-year financial forecasts developed by management that include revenue projections, capital spending trends, and investment in working capital to support anticipated revenue growth, which are regularly reviewed by management. The selected discount rate considers the risk and nature of the comparative companies and the rates of return market participants would require to investing their capital in reporting units. The acquired intangible assets, the core and developed technology, will be amortized based on a weighted-average useful life of approximately 7 years. However, the acquired trademark is intangible asset with an indefinite useful life. (c) Acquisition of CM Visual Technology Corp. On October 30, 2020, the Company infused cash of $6,680 thousand into CMVT in exchange for 66.71% of the outstanding common shares of CMVT. Acquisition-related costs, which were charged to expense as incurred, were insignificant. CMVT is a Taiwan company dedicated to the development and production of Omniwide film for display with its own technology: ultra view switching. As a result of the acquisition, the Company is expected to further strengthen the Company's competitiveness in the displays with the addition of technology resources. The results of CMVT's operations have been included in the Company's consolidated financial statements since that date. The amounts of CMVT's revenues and losses included in the consolidated statements of profit or loss from the acquisition date to the period ended December 31, 2020 were $1,231 thousand and $214 thousand, respectively. If the acquisition had occurred on January 1, 2020, management estimates that consolidated revenue would have been $891,038 thousand (unaudited), and consolidated profit for the year would have been $46,361 thousand (unaudited). In determining these amounts, management has assumed that the fair value adjustments that arose on the date of acquisition would have been the same if the acquisition had occurred on January 1, 2020. The following table summarizes the amounts of estimated fair value of the assets acquired and liabilities assumed at the date of acquisition. Fair value (in thousands) Recognized amounts of identifiable assets acquired and liabilities assumed: Cash $ 7,982 Current assets, other than cash 2,602 Property, plant and equipment 1,906 Other intangible assets 704 Other current liabilities (3,181) Total identifiable net assets acquired 10,013 Noncontrolling interests (3,333) Total consideration paid $ 6,680 Acquired assets were valued at estimates of their current fair values based on management’s estimates and consultation with an independent appraiser. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2021 | |
Cash and Cash Equivalents | |
Cash and Cash Equivalents | Note 6. Cash and Cash Equivalents December 31, December 31, 2020 2021 (in thousands) Cash, demand deposits and checking accounts $ 178,938 333,524 Time deposits with less than three months maturity date 6,000 2,500 $ 184,938 336,024 Refer to Note 23 and Note 24 for the disclosure of credit risk, currency risk and sensitivity analysis of the financial assets and liabilities of the Company. As of December 31, 2020 and 2021, no cash and cash equivalents were pledged with banks as collaterals. |
Financial Assets at Amortized C
Financial Assets at Amortized Cost | 12 Months Ended |
Dec. 31, 2021 | |
Financial Assets at Amortized Cost | |
Financial Assets at Amortized Cost | Note 7. Financial Assets at Amortized Cost December 31, December 31, 2020 2021 (in thousands) Time deposit with original maturities more than three months $ 8,682 26,013 The financial assets at amortized cost are in China Yuan (CNY) and US dollar denominated time deposits with original maturities of more than three months and the expected holding period as of December 31, 2020 and 2021 is due in one year or less. As of December 31, 2020 and 2021, no financial assets at amortized cost were pledged with banks as collaterals. |
Financial Assets at Fair Value
Financial Assets at Fair Value Through Profit or Loss | 12 Months Ended |
Dec. 31, 2021 | |
Financial Assets at Fair Value Through Profit or Loss | |
Financial Assets at Fair Value Through Profit or Loss | Note 8. Financial Assets at Fair Value Through Profit or Loss Following is a summary of financial assets at fair value through profit or loss as of December 31, 2020 and 2021: December 31, December 31, 2020 2021 (in thousands) Money market fund $ 7,799 2,345 Equity securities-unlisted company 13,966 13,668 $ 21,765 16,013 Current $ 7,799 2,345 Non-current 13,966 13,668 $ 21,765 16,013 Net gain of $3,732 thousand and $472 thousand and net loss of $284 thousand was recognized under changes in fair value of financial assets at fair value through profit or loss in the consolidated statement of profit or loss for the years ended December 31, 2019, 2020 and 2021, respectively. As of December 31, 2020 and 2021, no financial assets at fair value through profit or loss were pledged with banks as collaterals. |
Financial Assets at Fair Valu_2
Financial Assets at Fair Value Through Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2021 | |
Financial Assets at Fair Value Through Other Comprehensive Income | |
Financial Assets at Fair Value Through Other Comprehensive Income | Note 9. Financial Assets at Fair Value Through Other Comprehensive Income The equity securities are held for long-term strategies and therefore are accounted for as FVTOCI. Capital reduction from equity security investments designated as at FVTOCI recognized for the years ended December 31, 2019, 2020 and 2021, were $47 thousand, $32 thousand and $151 thousand, respectively, all related to investments held at the end of the reporting period. As of December 31, 2020 and 2021, no financial assets at fair value through other comprehensive income were pledged with banks as collaterals. |
Financial Liability at Amortize
Financial Liability at Amortized Cost | 12 Months Ended |
Dec. 31, 2021 | |
Financial Liability at Amortized Cost | |
Financial Liability at Amortized Cost | Note 10. Financial Liability at Amortized Cost During 2013, Himax Display, Inc., a consolidated subsidiary of the Company, issued redeemable convertible preferred shares to a non-controlling shareholder. The noncontrolling shareholder may, solely at its option, convert the preferred shares at any time into ordinary shares of Himax Display, Inc. on a one to one basis. Additionally, Himax Display, Inc. provided the noncontrolling shareholder with a liquidation preference, redemption feature and a warrant to purchase additional preferred shares of Himax Display, Inc., within one year from the original investment closing date. The warrant expired in October 2014. The redeemable convertible preferred shares of Himax Display, Inc. are presented as financial liability at amortized cost on the Company’s consolidated statements of financial position and subsequently measured using effective interest method. The interest related to financial liability at amortized cost was $234 thousand for the year ended December 31, 2018. As the noncontrolling shareholder didn't exercise its redemption right before the deadline, the financial liability at amortized cost was transferred to noncontrolling interest in 2019 on the Company's consolidated statements of financial position. |
Accounts Receivable, net
Accounts Receivable, net | 12 Months Ended |
Dec. 31, 2021 | |
Accounts Receivable, net | |
Accounts Receivable, net | Note 11. Accounts Receivable, net (including related parties) December 31, December 31, 2020 2021 (in thousands) Accounts receivable $ 243,816 410,140 Accounts receivable from related parties - 71 Less: Loss allowance (190) - $ 243,626 410,211 As of December 31, 2020 and 2021, the Company measures the loss allowance for accounts receivable using the simplified approach under IFRS 9 with the lifetime expected credit losses. To measure the expected credit losses, accounts receivable have been grouped based on the days past due, as well as incorporated forward looking information, including relevant industry information. Analysis of expected credit losses which was measured based on the aforementioned method, was as follows: December 31, 2020 Loss Carrying allowance amount of Weighted for lifetime accounts average loss expected receivable rate credit (in thousands) (in thousands) Not past due $ 243,208 0 % $ - Past due within 30 days 36 0 % - Past due 31‑60 days 382 0 % - Past due 61‑90 days - 0 % - Past due 91‑120 days - 0%-6.32 % - Past due over 121 days - 100.00 % - $ 243,626 $ - December 31, 2021 Loss Carrying allowance amount of Weighted for lifetime accounts average loss expected receivable rate credit (in thousands) (in thousands) Not past due $ 408,415 0 % $ - Past due within 30 days 795 0 % - Past due 31‑60 days 924 0 % - Past due 61‑90 days 77 0 % - Past due 91‑120 days - 0 % - Past due over 121 days - 100.00 % - $ 410,211 $ - There were no changes in loss allowance as of December 31, 2020. As of December 31, 2021, the Company recognized a reversal of credit losses amounting to $190 thousand for accounts receivable due to recovery. The activity in the loss allowance is as follows: Loss Allowance Balance at Amounts Beginning Charges to utilized / Balance at Period of year earnings write-offs end of year (in thousands) Year 2019 $ 290 67 (167) 190 Year 2020 $ 190 - - 190 Year 2021 $ 190 (190) - - |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2021 | |
Inventories | |
Inventories | Note 12. Inventories December 31, December 31, 2020 2021 (in thousands) Finished goods $ 23,990 53,884 Work in process 63,025 107,355 Raw materials 21,346 36,963 Supplies 346 398 $ 108,707 198,600 The amounts of inventories that were charged to cost of revenues were $508,469 thousand, $654,582 thousand and $789,071 thousand, for the years ended December 31,2019, 2020 and 2021, respectively, and the charges for inventories written down to net realizable value amounted to $25,447 thousand, $11,919 thousand and $9,448 thousand, for the years ended December 31, 2019, 2020 and 2021, respectively, which were also included in cost of revenues. As of December 31, 2020 and 2021, none of the Company’s inventories was pledged as collateral. |
Equity Method Investments
Equity Method Investments | 12 Months Ended |
Dec. 31, 2021 | |
Equity Method Investments | |
Equity Method Investments | Note 13. Equity Method Investments Associates consisted of the following: December 31, 2020 December 31, 2021 Place of Incorporation Name of Principal and Carrying Holding Carrying Holding Associate Activities Operation amount % amount % (in thousands) (in thousands) Ganzin Technology Corp. Eye tracking chip and module Taipei, Taiwan $ 577 45.64 $ - 42.01 Iris Optronics Co., Ltd. E-paper manufacturing and sales Tainan, Taiwan 61 1.25 174 6.25 Viewsil Microelectronics (Kunshan) Limited IC design and sales Kunshan, China 2,621 49.00 2,671 49.00 Guangzhou Pixtalks Information Technology Co., Ltd. 3D structured light module Guangzhou, China 724 25.00 457 22.50 $ 3,983 $ 3,302 Guangzhou Pixtalks Information Technology Co., Ltd. was purchased with original investment amount of $758 thousand in November 2020. There is no individually significant associate for the Company. The following table summarized the amount recognized by the Company at its share of those associates: For the year ended December 31, 2019 2020 2021 (in thousands) The Company’s share of losses of associates $ (477) (638) (1,392) The Company’s share of other comprehensive income of associates $ 26 58 55 The Company’s share of total comprehensive income of associates $ (451) (580) (1,337) As of December 31, 2020 and 2021, none of the Company’s equity method investments was pledged as collateral. |
Other Intangible Assets
Other Intangible Assets | 12 Months Ended |
Dec. 31, 2021 | |
Other Intangible Assets | |
Other Intangible Assets | Note 14. Other Intangible Assets Technology Software Others Total (in thousands) Cost Balance at January 1, 2020 $ 13,171 5,342 2,789 21,302 Acquisitions through business combinations - 41 663 704 Additions - 87 - 87 Transfer from other current assets - 21 - 21 Disposals - - - - Effect of exchange rate changes - 15 (8) 7 Balance at December 31, 2020 13,171 5,506 3,444 22,121 Additions - 468 - 468 Disposals - (332) - (332) Effect of exchange rate changes - 22 (21) 1 Balance at December 31, 2021 $ 13,171 5,664 3,423 22,258 Accumulated Amortization Balance at January 1, 2020 $ 7,681 4,615 256 12,552 Amortization for the year 1,105 464 154 1,723 Transfer from other current assets - - - - Disposals - - - - Effect of exchange rate changes - 13 (43) (30) Balance at December 31, 2020 8,786 5,092 367 14,245 Amortization for the year 1,105 452 181 1,738 Disposals - (332) - (332) Effect of exchange rate changes - 21 (31) (10) Balance at December 31, 2021 $ 9,891 5,233 517 15,641 Carrying amounts At December 31, 2020 $ 4,385 414 3,077 7,876 At December 31, 2021 $ 3,280 431 2,906 6,617 Others in other intangible assets includes the acquired trademark $1,800 thousand with an indefinite useful life. Other intangible assets were amortized on a straight-line basis over their estimated useful lives as follows: Technology 7 years Software 2-10 years Others (except for trademark) 7-15 years |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment | |
Property, Plant and Equipment | Note 15. Property, Plant and Equipment (a) Prepayments for purchase Research Office of equipment Building and furniture and and development and construction Land improvements Machinery equipment equipment Others in progress Total (in thousands) Cost Balance at January 1, 2020 $ 41,828 75,357 74,326 44,638 13,666 39,248 564 289,627 Acquisitions through business combinations - - 1,476 189 19 222 - 1,906 Additions - 46 1,031 1,189 857 9,952 840 13,915 Transfers - - 386 178 - (706) (552) (694) Disposals - - (2,350) (730) - (15,720) - (18,800) Effect of exchange rate changes - - 87 23 115 252 - 477 Balance at December 31, 2020 41,828 75,403 74,956 45,487 14,657 33,248 852 286,431 Additions - 60 1,705 4,565 731 13,307 447 20,815 Transfers - - 783 69 - - (852) - Disposals - (79) (5) (895) (2,286) (106) - (3,371) Effect of exchange rate changes - (1) 2 1 25 (7) - 20 Balance at December 31, 2021 $ 41,828 75,383 77,441 49,227 13,127 46,442 447 303,895 Accumulated Depreciation Balance at January 1, 2020 $ - 20,124 54,215 36,519 10,986 28,845 - 150,689 Depreciation for the year - 4,523 5,644 3,469 994 7,243 - 21,873 Transfers - - (1) - - 102 - 101 Disposals - - (2,350) (725) - (15,604) - (18,679) Effect of exchange rate changes - - 68 20 96 189 - 373 Balance at December 31, 2020 - 24,647 57,576 39,283 12,076 20,775 - 154,357 Depreciation for the year - 4,232 5,824 2,551 1,048 5,949 - 19,604 Disposals - (79) (5) (895) (2,286) (89) - (3,354) Effect of exchange rate changes - - - 2 21 29 - 52 Balance at December 31, 2021 $ - 28,800 63,395 40,941 10,859 26,664 - 170,659 Carrying amounts At December 31, 2020 $ 41,828 50,756 17,380 6,204 2,581 12,473 852 132,074 At December 31, 2021 $ 41,828 46,583 14,046 8,286 2,268 19,778 447 133,236 Others in property, plant and equipment includes mold equipment, leasehold improvements, right-of-use assets and other equipment. The Company incurred non-cash capital expenditures of $1,999 thousand, $345 thousand and $2,006 thousand in the years ended December 31, 2019,2020 and 2021. The above items of property, plant and equipment, except certain machinery and equipment for specific project depreciated on Fixed-Percentage-on-Declining-Base Method basis mentioned in Note 4(i), are depreciated on a straight-line basis over their estimated useful lives as follows: Buildings 25 years Building improvements 4-16 years Machinery 4-10 years Research and development equipment 2-6 years Office furniture and equipment 3-8 years Others 2-15 years For the years ended December 31, 2019,2020 and 2021, the Company did not recognize any impairment loss on property, plant and equipment. Information on property, plant and equipment that were pledged to bank as collateral is provided in Note 27. (b) Lease Arrangements (i) Right-of-use assets Addition to right-of use assets during 2020 and 2021 were $8,474 thousand and $11,247 thousand, respectively. The carrying amounts of right-of use assets for offices and buildings lease included in Others in property, plant and equipment was $10,020 thousand and $16,660 thousand as of December 31, 2020 and 2021, respectively. Depreciation expense of right-of-use assets amounted to $2,018 thousand, $2,619 thousand and $4,554 thousand in 2019, 2020 and 2021. (ii) Lease liabilities December 31, December 31, 2020 2021 (in thousands) Current portion (classified under other current liabilities) $ 3,068 4,602 Non-current portion (classified under other non-current liabilities) 7,386 11,258 $ 10,454 15,860 (iii) Additional lease information Year ended December 31, 2019 2020 2021 (in thousands) Expenses relating to short-term leases $ 313 258 162 Expenses relating to low-value asset leases $ 143 230 342 Expenses relating to variable lease payments not included in the measurement of lease liabilities $ 1,631 2,018 1,874 The reconciliation of lease liabilities to cash flows arising from financing activities was as follows: Year ended December 31, 2020 2021 (in thousands) Balance at beginning of year $ 4,220 10,454 Change from financing activities: Payment of lease liabilities (2,608) (4,668) Total change from financing activities (2,608) (4,668) Other changes: New lease 8,474 11,247 Interest expense 155 213 Interest paid (155) (213) Effect of exchange rate changes 368 (1,173) Total liability-related other changes 8,842 10,074 Balance at end of year $ 10,454 15,860 |
Other Current Liabilities
Other Current Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Other Current Liabilities | |
Other Current Liabilities | Note 16. Other Current Liabilities December 31, December 31, 2020 2021 (in thousands) Accrued payroll and related expenses $ 10,681 18,515 Accrued mask, mold fees and other expenses for RD 11,503 13,379 Payable for purchases of building and equipment 1,599 3,481 Accrued software maintenance 4,531 4,359 Allowance for sales discounts 809 1,570 Lease liabilities 3,068 4,602 Accrued insurance, welfare expenses, professional fee 13,920 13,638 $ 46,111 59,544 The activity in the sales discounts is as follows: Allowance for sales discounts Balance at Balance at beginning Charges to Amounts end of Period of year earnings utilized year (in thousands) Year 2019 $ 494 6,448 (6,046) 896 Year 2020 $ 896 8,791 (8,878) 809 Year 2021 $ 809 13,632 (12,871) 1,570 |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2021 | |
Short-Term Borrowings | |
Short-Term Borrowings | Note 17. Short-Term Borrowings December 31, December 31, 2020 2021 (in thousands) Secured borrowings $ 104,000 151,400 Unused credit lines $ 280,921 277,362 Interest rate-secured borrowings 0.33 %~ 0.40 % 0.32 %~ 0.38 % As of December 31, 2020 and 2021, cash and time deposits totaling $104,000 thousand and $151,400 thousand are pledged as collateral, respectively. As of December 31, 2021, unused credit lines will expire between February 2022 and October 2022. Among the unused credit lines, $21,676 thousand will expire before the end of March 2022, and $155,600 thousand belonging to the parent company, Himax Technologies, Inc., needs to be secured with equal amount of cash and time deposits when borrowing money from banks. The reconciliation of borrowings to cash flows arising from financing activities was as follows: Unsecured Secured borrowings borrowings (in thousands) January 1, 2020 $ 57,339 164,000 Change from financing activities: Proceeds from borrowings 208,137 278,000 Repayments of borrowings (265,355) (338,000) Total changes from financing activities (57,218) (60,000) Other changes: Effect of exchange rate changes (121) - Total liability-related other changes (121) - December 31,2020 - 104,000 Change from financing activities: Proceeds from borrowings 15,000 611,600 Repayments of borrowings (15,000) (564,200) Total changes from financing activities - 47,400 December 31,2021 $ - 151,400 |
Long-Term Borrowings
Long-Term Borrowings | 12 Months Ended |
Dec. 31, 2021 | |
Long-Term Borrowings | |
Long-Term Borrowings | Note 18. Long-Term Borrowings December 31, December 31, 2020 2021 (in thousands) Unsecured borrowings $ 58,500 52,500 Less: current portion (6,000) (6,000) Total $ 52,500 46,500 Unused long-term credit lines $ 40,000 40,000 Interest rate 0.68819 %~ 0.92112 % 0.62467 %~ 0.73055 % Duration 2020/8/4~ 2030/9/2 2020/8/4~ 2030/9/2 The Company entered into unsecured borrowings with Chang Hwa Bank, in the amount of $40,000 thousand on August 4, 2020 and $20,000 thousand on September 2, 2020, respectively, with a term of ten years. Funding from long-term unsecured borrowings was used to repay the existing debts of financial institutions and broaden the Company’s working capital. As of December 31, 2020 and 2021, for enhancing the guaranty, land and building and improvements totaling $71,116 thousand and $67,810 thousand are pledged as collateral. Please refer to Note 27. The reconciliation of borrowings to cash flows arising from financing activities was as follows: Year ended December 31, 2020 2021 (in thousands) Balance at beginning of year $ - 58,500 Change from financing activities: Proceeds from borrowings 60,000 - Repayments of borrowings (1,500) (6,000) Total changes from financing activities 58,500 (6,000) Balance at end of year $ 58,500 52,500 |
Employee benefits
Employee benefits | 12 Months Ended |
Dec. 31, 2021 | |
Employee benefits | |
Employee benefits | Note 19. Employee benefits 1. Defined benefit plans Pursuant to the ROC Labor Standards Law, the Company has established a defined benefit pension plan covering full-time employees in the ROC that provides retirement benefits to retiring employees based on years of service and the average salary for the six-month period before the employee’s retirement. Reconciliations of defined benefit obligation at present value and plan asset at fair value are as follows: December 31, December 31, 2020 2021 (in thousands) Present value of the defined benefit obligations $ 3,562 3,489 Fair value of plan assets (3,952) (4,065) $ (390) (576) Net defined benefit liabilities 47 - Prepaid pension costs (437) (576) $ (390) (576) (i) Plan assets The Fund is administered by a pension fund monitoring committee (the “Committee”) and is deposited in the Committee’s name in the Bank of Taiwan. Under the ROC Labor Standards Law, the minimum return on the plan assets should not be lower than the average interest rate on two-year time deposits published by the local banks. As of December 31, 2021, the Funds deposited in the Committee’s name in the Bank of Taiwan amounted to $4,065 thousand. (ii) Movements in present value of the defined benefit obligations Year ended December 31, 2020 2021 (in thousands) Balance at beginning of year $ 3,142 3,562 Service costs 6 - Interest expense 27 15 Remeasurements loss (gain): Actuarial loss (gain) arising from: -Changes in demographic assumptions 91 32 -Experience adjustment 56 116 -Change in financial assumptions 196 (253) Effect of changes in exchange rates 44 17 Balance at end of year $ 3,562 3,489 (iii) Movements in the fair value of plan assets Year ended December 31, 2020 2021 (in thousands) Balance at beginning of year $ 3,730 3,952 Interest income 31 17 Remeasurements gain : -Return on plan assets excluding interest income 129 60 Contributions paid by the employer 15 20 Effect of changes in exchange rate 47 16 Balance at end of year $ 3,952 4,065 (iv) Expenses recognized in profit or loss Year ended December 31, 2019 2020 2021 (in thousands) Current service costs $ 26 6 - Interest income (19) (4) (2) $ 7 2 (2) Cost of revenues $ 6 6 6 Research and development 1 (5) (8) General and administrative - 1 - Sales and marketing - - - $ 7 2 (2) (v) Remeasurement of net defined benefit liability recognized in other comprehensive income Year ended December 31, 2020 2021 (in thousands) Balance at beginning of year $ (60) 116 Recognized during the period 176 (138) Balance at end of year $ 116 (22) (vi) Actuarial assumptions The principal actuarial assumptions were as follows: December 31, December 31, 2020 2021 Discount rate 0.42 % 0.82%-0.85 % Rate of increase in compensation levels 3.00 % 3.00 % The Company expects to make contribution of $20 thousand to the defined benefit plans in the next year starting from January 1, 2022. As at December 31, 2021, the weighted average duration of the defined benefits obligation was between 17 years to 18 years. (vii) Sensitivity analysis Reasonably possible changes at December 31, 2020 and 2021 to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below. December 31, 2020 December 31, 2021 + 0.5% - 0.5% + 0.5% ‑ 0.5% (in thousands) Discount rate (306) 339 (290) 319 Rate of increase in compensation levels 328 (300) 310 (285) 2. Defined contribution plans Beginning July 1, 2005, pursuant to the newly effective ROC Labor Pension Act, the Company is required to make a monthly contribution for full-time employees in the ROC that elected to participate in the Defined Contribution Plan at a rate no less than 6% of the employee’s monthly wages to the employees’ individual pension fund accounts at the ROC Bureau of Labor Insurance. Expenses recognized in 2019, 2020 and 2021, based on the contribution called for were $3,316 thousand, $3,330 thousand and $3,683 thousand, respectively. The Company established a defined contribution plan in the United States that qualifies under Section 401(k) of the Internal Revenue Code. This plan covers substantially all employees who meet the service requirement. The Company’s contribution to the plan may be made at the discretion of the board of directors. As now, no contributions have been made by the Company to the plan. All PRC employees participate in employee social security plans, including pension and other welfare benefits, which are organized and administered by governmental authorities. The Company has no other substantial commitments to employees. The premiums and welfare benefit contributions that should be borne by the Company are calculated in accordance with relevant PRC regulations, and are paid to the labor and social welfare authorities. Expenses recognized based on this plan were $1,489 thousand, $707 thousand and $1,695 thousand for the years ended December 31, 2019, 2020 and 2021, respectively. Other foreign subsidiaries recognized pension expenses of $434 thousand, $497 thousand and $617 thousand for the years ended December 31, 2019, 2020 and 2021, respectively, for the defined contribution plans based on their respective local government regulations. 3. Cash award On September 28, 2021, the Company’s compensation committee granted annual bonuses by cash payouts totaling $47,657 thousand to the Company’s employees among which $1,582 thousand was immediately vested on the grant date. The remainder will be equally vested at the first, second and third anniversaries of the grant date. The amounts of cash award expenses included in applicable costs of revenues and expense categories and related tax effects are summarized as follows: Year ended December 31, 2021 (in thousands) Cost of revenues $ 511 Research and development 5,876 General and administrative 678 Sales and marketing 1,223 Total compensation recognized in income $ 8,288 Income tax benefit $ 1,444 |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Dec. 31, 2021 | |
Share-Based Compensation | |
Share-Based Compensation | Note 20. Share-Based Compensation The amounts of share-based compensation expenses included in applicable costs of revenues and expense categories and related tax effects are summarized as follows: Year ended December 31, 2019 2020 2021 (in thousands) Cost of revenues $ 9 87 682 Research and development 339 4,467 17,662 General and administrative 50 368 2,367 Sales and marketing 59 603 3,163 Total compensation recognized in income $ 457 5,525 23,874 Income tax benefit $ 89 1,176 4,896 (a) Long-term Incentive Plan (i) Restricted share Units (RSUs) On September 7, 2011, the Company’s shareholders approved a long-term incentive plan. The amended and restated plan was amended and restated by extending its duration to September 6, 2022, which was approved by the Company’s shareholders at the annual general meeting held on August 28, 2019. The plan permits the grants of options or RSUs to the Company’s employees, directors and service providers where each unit of RSU represents two ordinary shares of the Company. On September 28, 2016, the Company’s compensation committee made grants of 1,208,785 RSUs to the Company’s employees. The vesting schedule for the RSUs is as follows: 91.93% of the RSUs grant vested immediately on the grant date which was settled by cash amounting to $9,223 thousand, a subsequent 2.69% will vest On September 29, 2017, the Company’s compensation committee made grants of 580,235 RSUs to the Company’s employees. The vesting schedule for the RSUs is as follows: 96.91% of the RSUs grant vested immediately on the grant date which was settled by cash amounting to $6,147 thousand, a subsequent 1.03% will vest On September 26, 2018, the Company’s compensation committee made grants of 676,273 RSUs to the Company’s employees. The vesting schedule for the RSUs is as follows: 97.15% of the RSUs grant vested immediately on the grant date which was settled by cash amounting to $3,778 thousand, a subsequent 0.95% will vest On September 28, 2020, the Company’s compensation committee made grants of 1,402,714 RSUs to the Company’s employees. The vesting schedule for the RSUs is as follows: 98.68% of the RSUs grant vested immediately on the grant date which was settled by cash amounting to $4,762 thousand, a subsequent 0.44% will vest On September 28, 2021, the Company’s compensation committee made grants of 2,604,545 RSUs to the Company’s employees. The vesting schedule for the RSUs is as follows: 85.63% of the RSUs grant vested immediately on the grant date which was settled by cash amounting to $23,174 thousand, a subsequent 4.79% will vest The amount of compensation expense from the long-term incentive plan was determined based on the estimated fair value and the market price of ADS (one ADS represents two ordinary shares) underlying the RSUs granted on the date of grant, which were $8.30 per ADS, $10.93 per ADS, $5.76 per ADS, $3.44 per ADS and $10.39 per ADS on September 28, 2016, September 29, 2017, September 26, 2018, September 28, 2020 and September 28, 2021, respectively. RSUs activity under the long-term incentive plan during the periods indicated is as follows: Number of Weighted Underlying Average Grant Shares for RSUs Date Fair Value Balance at January 1, 2019 60,338 $ 7.98 Vested (38,878) 8.29 Forfeited (2,967) 7.98 Balance at December 31, 2019 18,493 7.34 Granted 1,402,714 3.44 Vested (1,392,355) 3.47 Forfeited (5,963) 6.57 Balance at December 31, 2020 22,889 3.88 Granted 2,604,545 10.39 Vested (2,237,499) 10.37 Forfeited (3,415) 4.38 Balance at December 31, 2021 386,520 10.17 As of December 31, 2021, the total compensation cost related to the unvested RSUs not yet recognized was $3,059 thousand. The weighted-average period over which it is expected to be recognized is 2.72 years. In 2019, 2020 and 2021, the Company settled RSUs release with shares buyback of 77,756 shares, 16,302 shares and 14,264 shares, respectively. The allocation of compensation expenses and related tax effects from the RSUs granted to employees under the long-term incentive plan are summarized as follows: Year ended December 31, 2019 2020 2021 (in thousands) Cost of revenues $ - 70 676 Research and development 86 3,924 17,592 General and administrative 26 319 2,343 Sales and marketing 19 520 3,149 Total compensation recognized in income $ 131 4,833 23,760 Income tax benefit $ 30 1,044 4,896 (ii) Employee stock options On September 23, 2019, the Company's compensation committee approved a plan to grant stock options, the 2019 plan, to certain employees. The 2019 plan authorizes grants to purchase up to 3,000,000 units ADS, representing 6,000,000 shares of the Company's ordinary share. 2,226,690 units of stock option to purchase 2,226,690 units ADS were grant to certain employees at an exercise price of $2.27 on September 30, 2019. The 2019 plan has two years contractual life and one year vesting period. Based on the vesting schedule, 50% of the options vest half year after the date of grant and 50% of the options vest one year after the date of grant. The Company recognized compensation expenses of $326 thousand and $570 thousand in 2019 and 2020, respectively. Such compensation expense was recorded as cost of revenues, sales and marketing expenses, general and administrative expenses and research and development expenses in the consolidated statements of profit or loss. Income tax benefits of $59 thousand and $103 thousand are realized in the consolidated statements of profit or loss for employee stock options for the year ended December 31, 2019 and 2020, respectively. During 2020, 114,500 units, 39,000 units and 10,000 units of stock option to purchase 114,500 units, 39,000 units and 10,000 units ADS were grant to certain employees at an exercise price of $2.74, $3.9 and $3.35 on March 31, 2020, August 11, 2020 and September 25, 2020, respectively. The options granted in 2020 were fully vested on October 1, 2020. The Company recognized compensation expenses of $122 thousand and recorded income tax benefits of $29 thousand for employee stock options in the consolidated statements of profit or loss for the year ended December 31, 2020. The calculated value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table. The Company uses the simplified method to estimate the expected term of the options as it does not have sufficient historical share option exercise experience and the exercise data relating to employees of other companies is not easily obtainable. The risk-free rates for the expected term of the options are based on the interest rates of 1 years and 1.5 years U.S. Treasury yield at the time of grant. 2019 plan Valuation assumptions: Expected dividend yield 3.5 % Expected volatility 51.96%-57.79 % Expected term (years) 1-1.5 Risk-free interest rate 1.69%-1.75 % Stock option activity during the periods indicated is as follows: Weighted Weighted average average remaining Number exercise contractual of Units price term Granted 2,226,690 $ 2.27 1.75 Exercised - - Forfeited - - Balance at December 31, 2019 2,226,690 2.27 1.5 Granted 163,500 3.05 0.88 Exercised (1,574,869) 2.32 Forfeited (236,853) 2.30 Balance at December 31, 2020 578,468 2.36 0.54 Exercised (524,387) 2.37 Expired (54,081) 2.27 Balance at December 31, 2021 - - - Exercisable at December 31, 2021 - - - (b) Employee stock options (i) On January 1, 2016, board of directors of Himax Imaging, Inc. approved a plan to grant stock options, the 2016 plan, to certain employees. The 2016 plan authorizes grants to purchase up to 1,760,000 shares of Imaging Taiwan’ issued ordinary shares held by Himax Imaging, Inc. The exercise price was NT $30 (US$ 0.9139 ). Himax Taiwan obtained all Imaging Taiwan’ issued ordinary shares previously held by Himax Imaging, Inc. in March, 2017, in a re-organization of entities under common control, whereby Himax Taiwan assumed the obligation to sell Imaging Taiwan’ ordinary shares once employees exercised the options for the 2016 plan. The 2016 plan has four years contractual life and three years vesting period. Based on the vesting schedule, 50% of the options vest one and half years after the date of grant and 50% of the options vest three years after the date of grant. Because the exercise price of the options are higher than the estimated fair value of Imaging Taiwan shares at the date of grant, the calculated value of each option award estimated using the Black-Scholes option-pricing model was nil. The calculated value of option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table. Himax Imaging, Inc. uses the simplified method to estimate the expected term of the options as it does not have sufficient historical share option exercise experience and the exercise data relating to employees of other companies is not easily obtainable. Since Imaging Taiwan’ shares are not publicly traded and its shares are rarely traded privately, expected volatility is computed based on the average historical volatility of similar entities with publicly traded shares. The risk-free rates for the expected term of the option are based on the interest rates of 2 years and 5 years ROC central government bond at the time of grant. 2016 plan Valuation assumptions: Expected dividend yield 0 % Expected volatility 38.04 % Expected term (years) 3.125 Risk-free interest rate 0.50 % Stock option activity during the periods indicated is as follows: Weighted Weighted average average remaining Number exercise contractual of shares price term Balance at January 1, 2019 546,000 $ 0.9139 1.0 Granted - - Exercised - - Forfeited (25,000) 0.9139 Expired (521,000) 0.9139 Balance at December 31, 2019 - - - Exercisable at December 31, 2019 - - (ii) On January 1, 2016, board of directors of Imaging Taiwan approved a plan to grant stock options, the 2016 plan, to certain employees. This plan authorizes grants to purchase up to 2,040,000 shares of Imaging Taiwan’ authorized but unissued ordinary shares. The exercise price was NT $30 (US$ 0.9139 ). The 2016 plan has four years contractual life and three years vesting period. Based on the vesting schedule, 50% of the options vest one and half years after the date of grant and 50% of the options vest three years after the date of grant. Because the exercise price of the options are higher than the estimated fair value of Imaging Taiwan shares at the date of grant, the calculated value of each option award estimated using the Black-Scholes option-pricing model was nil. The calculated value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table. Imaging Taiwan uses the simplified method to estimate the expected term of the options as it does not have sufficient historical share option exercise experience and the exercise data relating to employees of other companies is not easily obtainable. Since Imaging Taiwan’ shares are not publicly traded and its shares are rarely traded privately, expected volatility is computed based on the average historical volatility of similar entities with publicly traded shares. The risk-free rates for the expected term of the options are based on the interest rates of 2 years and 5 years ROC central government bond at the time of grant. 2016 plan Valuation assumptions: Expected dividend yield 0 % Expected volatility 38.04 % Expected term (years) 3.125 Risk-free interest rate 0.50 % Stock option activity during the periods indicated is as follows: Weighted Weighted average average remaining Number exercise contractual of shares price term Balance at January 1, 2019 1,359,000 $ 0.9139 1.0 Granted - - Exercised - - Forfeited (209,000) 0.9139 Expired (1,135,000) 0.9139 Balance at December 31, 2019 15,000 0.9139 - Expired (15,000) 0.9139 Balance at December 31, 2020 - - - Exercisable at December 31, 2020 - - (iii) On October 6, 2015, board of directors of Himax Display, Inc. approved a plan to grant stock options, the 2015 plan, to certain employees. This plan authorizes grants to purchase up to 2,528,000 shares of Himax Display, Inc.’ authorized but unissued ordinary shares. The exercise price was NT $65 (US$ 1.986 ). The 2015 plan has four years contractual life and three years vesting period. Based on the vesting schedule, 50% of the options vest one and half years after the date of grant and 50% of the options vest three years after the date of grant. The Company had recognized all compensation expenses before 2019. The calculated value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table. Himax Display, Inc. uses the simplified method to estimate the expected term of the options as it does not have sufficient historical share option exercise experience and the exercise data relating to employees of other companies is not easily obtainable. Since Himax Display, Inc.’ shares are not publicly traded and its shares are rarely traded privately, expected volatility is computed based on the average historical volatility of similar entities with publicly traded shares. The risk-free rate for the expected term of the options is based on the interest rates of 2 years and 5 years ROC central government bond at the time of grant. 2015 plan Valuation assumptions: Expected dividend yield 0 % Expected volatility 33.52 % Expected term (years) 3.125 Risk-free interest rate 0.65 % Stock option activity during the periods indicated is as follows: Weighted Weighted average average remaining Number exercise contractual of shares price term Balance at January 1, 2019 1,911,000 $ 1.986 0.75 Granted - - Exercised - - Forfeited (22,200) 1.986 Expired (1,888,800) 1.986 Balance at December 31, 2019 - - - Exercisable at December 31, 2019 - - (iv) On March 19, 2021, board of directors of CM Visual Technology Corp. approved a plan to grant stock options, the 2021 plan, to certain employees. This plan authorizes grants to purchase up to 3,000,000 shares of CM Visual Technology Corp.' authorized but unissued ordinary shares. The exercise price was NT$10 (US$0.36). The 2021 plan has four years contractual life and three years vesting period. Based on the vesting schedule, 50% of the options vest one and half years after the date of grant and 50% of the options vest three years after the date of grant. The Company recognized compensation expenses of $71 thousand in 2021. Such compensation expense was recorded as cost of revenues, sales and marketing expenses, general and administrative expense and research and development expenses in the consolidated statements of income. There was no income tax benefit realized in the consolidated statements of income for employee stock options for the years ended December 31, 2021. The calculated value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table. CM Visual Technology Corp. uses the simplified method to estimate the expected term of the options as it does not have sufficient historical share option exercise experience and the exercise data relating to employees of other companies is not easily obtainable. Since CM Visual Technology Corp.' shares are not publicly traded and its shares are rarely traded privately, expected volatility is computed based on the average historical volatility of similar entities with publicly traded shares. The risk-free rate for the expected term of the options is based on the interest rates of 2 years and 5 years ROC central government bond at the time of grant. 2021 plan Valuation assumptions: Expected dividend yield 0% Expected volatility 43.82% Expected term (years) 3.125 Risk-free interest rate 0.223% Stock option activity during the periods indicated is as follows: Weighted Weighted average average remaining Number exercise contractual of shares price term Balance at January 1, 2021 - $ - Granted 2,791,000 0.36 Exercised - - Forfeited (120,000) 0.36 Balance at December 31, 2021 2,671,000 0.36 3.5 Exercisable at December 31, 2021 - - (v) On June 28, 2021, board of directors of Liqxtal Technology Inc. approved a plan to grant stock options, the 2021 plan, to certain employees. This plan authorizes grants to purchase up to 1,000,000 shares of Liqxtal Technology Inc.’ authorized but unissued ordinary shares. The exercise price was NT$ 18 (US$ 0.65 ). The 2021 plan has one and half years contractual life and one year vesting period. Based on the vesting schedule, 100% of the options vest one year after the date of grant. The Company recognized compensation expenses of $43 thousand in 2021. Such compensation expense was recorded as sales and marketing expenses, general and administrative expense and research and development expenses in the consolidated statements of income. There was no income tax benefit realized in the consolidated statements of income for employee stock options for the years ended December 31, 2021. The calculated value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table. Liqxtal Technology Inc. uses the simplified method to estimate the expected term of the options as it does not have sufficient historical share option exercise experience and the exercise data relating to employees of other companies is not easily obtainable. Since Liqxtal Technology Inc.’ shares are not publicly traded and its shares are rarely traded privately, expected volatility is computed based on the average historical volatility of similar entities with publicly traded shares. The risk-free rate for the expected term of the options is based on the interest rates of 2 years ROC central government bond at the time of grant. 2021 plan Valuation assumptions: Expected dividend yield 0% Expected volatility 30.06% Expected term (years) 1.25 Risk-free interest rate 0.107% Stock option activity during the periods indicated is as follows: Weighted Weighted average average remaining Number exercise contractual of shares price term Balance at January 1, 2021 - $ - Granted 1,000,000 0.65 Exercised - - Forfeited (90,000) 0.65 Balance at December 31, 2021 910,000 0.65 1.0 Exercisable at December 31, 2021 - - |
Equity
Equity | 12 Months Ended |
Dec. 31, 2021 | |
Equity | |
Equity | Note 21. Equity (a) Ordinary Shares The Company’s authorized ordinary shares, with par value of $0.3 per share, were 1,000,000,000 shares at December 31, 2020 and 2021. The Company’s issued and fully paid ordinary shares, with par value of $0.3 per share, were 356,699,482 shares at December 31, 2020 and 2021. The outstanding ordinary shares were 347,534,102 shares and 348,597,140 shares at December 31, 2020 and 2021, respectively. 9,165,380 8,102,342 The Company’s ordinary shares have been quoted on the NASDAQ Global Select Market under the symbol “HIMX” in the form of ADSs and two ordinary shares represent one ADS with effect from August 10, 2009. (b) Additional Paid-in Capital Balance of additional paid-in capital as of December 31, 2020 and 2021 were as follows: December 31, December 31, 2020 2021 (in thousands) From ordinary shares $ 93,341 93,341 From treasury shares 6,422 6,911 From share-based compensation 7,389 8,051 From share of changes in equities of associates 141 538 $ 107,293 108,841 (c) Earnings distribution As a holding company, the major asset of the Company is the 100% ownership interest in Himax Taiwan. Dividends received from the Company’s subsidiaries in Taiwan, if any, will be subjected to withholding tax under ROC law. The ability of the Company’s subsidiaries to pay dividends, repay intercompany loans from the Company or make other distributions to the Company may be restricted by the availability of funds, the terms of various credit arrangements entered into by the Company’s subsidiaries, as well as statutory and other legal restrictions. The Company’s subsidiaries in Taiwan are generally not permitted to distribute dividends or to make any other distributions to shareholders for any year in which it did not have either earnings or retained earnings (excluding reserve). In addition, before distributing a dividend to shareholders following the end of a fiscal year, a Taiwan company must recover any past losses, pay all outstanding taxes and set aside 10% of its annual net income (less prior years’ losses and outstanding taxes) as a legal reserve until the accumulated legal reserve equals its paid-in capital, and may set aside a special reserve. The accumulated legal and special reserve provided by Himax Taiwan as of December 31, 2020 and 2021 amounted to $79,931 thousand and $85,200 thousand, respectively. For the year ended December 31, 2021, the Company declared the cash dividend of $0.136 per share, totaling $47,404 thousand, and was paid on July 12, 2021. (d) Accumulated other comprehensive income Changes in accumulated other comprehensive income, net of tax, are as follows: Unrealized Defined Accumulated Foreign gains benefit other currency (losses) on pension comprehensive translation securities plans income (in thousands) Beginning balance, January 1, 2019 $ 249 (906) 108 (549) Exchange differences arising on translation of foreign operations (545) - - (545) Changes in fair value of financial assets - (30) - (30) Remeasurement of defined benefit pension plans - - 172 172 Ending balance, December 31, 2019 (296) (936) 280 (952) Exchange differences arising on translation of foreign operations 512 - - 512 Changes in fair value of financial assets - 67 - 67 Remeasurement of defined benefit pension plans - - (175) (175) Ending balance, December 31, 2020 216 (869) 105 (548) Exchange differences arising on translation of foreign operations (72) - - (72) Changes in fair value of financial assets - (179) - (179) Remeasurement of defined benefit pension plans - - 133 133 Ending balance, December 31, 2021 $ 144 (1,048) 238 (666) (e) Noncontrolling interest Year ended December 31, 2019 2020 2021 (in thousands) Balance at the beginning of year $ (4,261) (1,743) 5,023 Equity attributable to non-controlling interests Loss for the year (2,570) (1,974) (2,961) Transfer of financial liability to noncontrolling interests 5,071 - - Changes in fair value of financial assets (5) (2) (2) Remeasurement of defined benefit pension plans 17 (1) 5 Share-based compensation expenses 5 8 38 New shares issued by subsidiaries - 8,695 - Purchase of subsidiaries shares from noncontrolling interest - - 175 Exchange differences arising on translation of foreign operations - 44 - Declaration of cash dividends - (4) (20) Balance at the end of year $ (1,743) 5,023 2,258 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Taxes | |
Income Taxes | Note 22. Income Taxes The Company is incorporated in the Cayman Islands, a tax-free country; accordingly, pretax income generated by the group parent company is not subject to local income tax. Substantially all of the Company’s taxable income is derived from the operations in the ROC and, therefore, substantially all of the Company’s income tax expense attributable to income from continuing operations is incurred in the ROC. Other foreign subsidiary companies calculate income tax in accordance with local tax law and regulations. According to the amendments to the ROC Statute for Industrial Innovation in July 2019, in addition to providing 10 year extension for the existing tax credits for qualifying research and development expenses, deduction of actual investment from tax base of undistributed earning tax and tax credit for smart machinery and 5G system expenditures were added as new incentive items. Eligible investment amount applicable for deduction of tax base of undistributed earning tax is effective for undistributed earnings invested in substantive investment within 3 years after fiscal year-end. Tax credit for investment amount eligible for smart machinery limited to 5% of expenditure for the current year or 3% of expenditure within 3 consecutive year. Tax credit for smart machinery combined with R&D tax credit shall not exceed 50% of current year corporate income tax plus undistributed earnings tax payable. (a) Income tax expense (benefit) recognized in profit or loss for the years ended December 31, 2019, 2020 and 2021 consists of the following: Year ended December 31, 2019 2020 2021 (in thousands) Current tax expense Current period $ 1,461 13,599 102,297 Adjustment for prior periods (126) (363) 12 1,335 13,236 102,309 Deferred tax expense Origination and reversal of temporary differences 247 370 310 Investment tax credits and operating loss carryforward (1,166) (1,894) 8,038 (919) (1,524) 8,348 Total income tax expense $ 416 11,712 110,657 (b) Income taxes expense (benefit) recognized directly in other comprehensive income for the years ended December 31, 2019, 2020 and 2021 consist of the following: Year ended December 31, 2019 2020 2021 (in thousands) Items that will not be reclassified to profit or loss: Remeasurements of defined benefit pension plans $ 25 (38) 27 (c) Reconciliation of the expected income tax expense computed based on the ROC statutory income tax rate of 20% compared with the actual income tax expense as reported in the consolidated statements of profit or loss for the years ended December 31, 2019, 2020 and 2021 are summarized as follows: Years ended December 31, 2019 2020 2021 Rate Amount Rate Amount Rate Amount (in thousands) (in thousands) (in thousands) Profit (loss) before income taxes $ (15,768) $ 56,872 $ 544,592 Income tax expense calculated at the statutory rate 20.0 % (3,154) 20.0 % 11,374 20.0 % 108,919 Tax on undistributed earnings 8.0 % (1,261) 3.0 % 1,727 4.2 % 22,648 Tax benefit resulting from setting aside legal reserve from prior year’s income 0.3 % (51) - - - (267) Tax benefit resulting from offsetting prior year’s undistributed earning tax with current year’s loss 2.8 % (443) - - - - Tax benefit resulting from actual investment from prior year’s undistributed earnings - - - - - (161) Increase in tax credits 17.1 % (2,698) (12.1) % (6,895) (3.3) % (17,934) Effect of change of unrecognized deductible temporary differences, tax losses carryforwards and investment tax credits (40.9) % 6,455 8.7 % 4,954 0.7 % 3,668 Net of non-taxable income and non-deductible expense (2.2) % 343 0.2 % 129 (2.0) % (10,680) Changes in unrecognized tax benefits related to prior year tax positions, net of its impact to tax-exempted income (1.2) % 194 (1.2) % (709) 0.5 % 2,763 Foreign tax rate differential (3.5) % 548 1.5 % 881 0.2 % 837 Variance from audits, amendments and examinations of prior years’ income tax filings (2.3) % 368 (0.6) % (363) - 440 Others (0.7) % 115 1.1 % 614 - 424 Income tax expense $ 416 $ 11,712 $ 110,657 Effective tax rate (2.6) % 20.6 % 20.3 % (d) As of December 31, 2020 and 2021, the components of deferred tax assets and deferred tax liabilities were as follows: December 31, December 31, 2020 2021 (in thousands) Deferred tax assets: Inventory $ 4,426 2,955 Tax credit carryforwards 7,780 - Operating loss carryforward-statutory tax 1,013 755 Accrued compensated absences 735 901 Allowance for sales discounts 411 720 Depreciation 561 601 Unrealized foreign exchange loss 179 - Others 634 1,259 $ 15,739 7,191 Deferred tax liabilities: Acquired intangible assets $ (1,014) (756) Remeasurement of defined benefit plans (107) (138) Unrealized foreign exchange gain (17) (71) $ (1,138) (965) As of December 31, 2021, the Company has not provided for income taxes on undistributed earnings of approximately $1,096,052 thousand of its foreign subsidiaries since the Company has specific plans to reinvest these earnings indefinitely. A deferred tax liability will be recognized when the Company can no longer demonstrate that it plans to indefinitely reinvest these undistributed earnings. This amount becomes taxable when the ultimate parent company, Himax Technologies, Inc., executes other investments, share buybacks or shareholder dividends to be funded by cash distribution by its foreign subsidiaries. It is not practicable to estimate the amount of additional taxes that might be payable on such undistributed earnings because of the complexities of the hypothetical calculation. (e) Changes in deferred tax assets and liabilities were as follows: Recognized Recognized Recognized in other Recognized in other January 1, in profit or comprehensive December in profit or comprehensive December 2020 loss income 31, 2020 loss income 31, 2021 (in thousands) Inventory $ 5,089 (663) - 4,426 (1,471) - 2,955 Tax credit carryforwards 5,645 2,135 - 7,780 (7,780) - - Operating loss carryforward 1,254 (241) - 1,013 (258) - 755 Accrued compensated absences 588 147 - 735 166 - 901 Allowance for sales discounts 576 (165) - 411 309 - 720 Depreciation 521 40 - 561 40 - 601 Unrealized foreign exchange loss 102 60 - 162 (233) - (71) Remeasurement of defined benefit plans (139) (6) 38 (107) (4) (27) (138) Acquired intangible assets (1,255) 241 - (1,014) 258 - (756) Others 658 (24) - 634 625 - 1,259 Total $ 13,039 1,524 38 14,601 (8,348) (27) 6,226 (f) Unrecognized Deferred Tax Assets Gross amount of deferred tax assets have not been recognized in respect of the following items. December 31, December 31, 2020 2021 (in thousands) Unused tax credits $ 1,560 1,560 Unused operating loss carryforwards-statutory tax 241,371 246,023 Unused operating loss carryforwards-undistributed earnings tax 261,659 283,578 Others 29,897 30,364 $ 534,487 561,525 As of December 31, 2021, the unused investment tax credits with its expiration year from 2022 to 2034 from US operations were $1,560 thousand. Tax loss carryforwards is utilized in accordance with the relevant jurisdictional tax laws and regulations. Net losses from foreign subsidiaries are approved by tax authorities in respective jurisdiction to offset future taxable profits. Under ROC Income Tax Acts, the tax loss carryforward in the preceding ten years is available to be deducted from tax income for Taiwan operations. The statutory losses would be deducted for undistributed earnings tax and were not subject to expiration for Taiwan operations. As of December 31, 2021, the expiration period for abovementioned unrecognized deferred tax assets of unused operating loss carryforwards for statutory tax were as follows: Unrecognized Deductible amount deferred tax assets Expiration year (in thousands) Taiwan operations $ 103,870 $ 20,774 2022~2026 107,909 21,582 2027~2031 Hong Kong operations 1,818 150 Indefinitely US operations 12,451 3,510 2024~2041 Israel operations 19,975 4,594 Indefinitely $ 50,610 (g) Assessments by the tax authorities The Company’s major taxing jurisdiction is Taiwan. All Taiwan subsidiaries’ income tax returns have been examined and assessed by the ROC tax authorities through 2019. The income tax returns of 2020 for all Taiwan subsidiaries are open to examination by the ROC tax authorities. Taiwanese entities are customarily examined by the tax authorities and it is possible that a future examination will result in a positive or negative adjustment to the Company’s unrecognized tax benefits within the next 12 months; however, management is unable to estimate a range of the tax benefits or detriment as of December 31, 2021. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2021 | |
Financial Instruments | |
Financial Instruments | Note 23. Financial Instruments (a) Categories of financial instruments (i) Financial assets December 31, December 31, 2020 2021 (in thousands) Financial assets measured at fair value through profit or loss (including current and noncurrent) $ 21,765 16,013 Financial assets measured at fair value through other comprehensive income 742 410 Measured at amortized cost: Cash and cash equivalents 184,938 336,024 Financial assets at amortized cost 8,682 26,013 Accounts receivable and other receivables (including related parties) 252,162 423,357 Restricted deposit (including current and noncurrent) 104,141 154,136 Refundable deposits (including current and noncurrent) 12,144 231,415 Subtotal 562,067 1,170,945 Total $ 584,574 1,187,368 (ii) Financial liabilities December 31, December 31, 2020 2021 (in thousands) Measured at amortized cost: Short-term secured borrowings $ 104,000 151,400 Accounts payables and other payables (including related parties) 222,739 305,755 Long-term unsecured borrowings (including current portion) 58,500 52,500 Lease liabilities (including current and noncurrent) 10,454 15,860 Guarantee deposits 5,765 55,215 Total $ 401,458 580,730 (b) Liquidity risk The following, except for payables (including related parties) that are repayable within a year, are the contractual maturities of financial liabilities, including estimated interest payments of unsecured borrowings, secured borrowings and lease liabilities. Contractual Within 6 6 ‑ 12 Over 5 (in thousands) cash flows months months 1 ‑ 2 years 2 ‑ 5 years years December 31, 2020 Non-derivative financial liabilities Short-term secured borrowings $ 104,106 104,106 - - - - Long-term unsecured borrowings (including current portion) 60,684 3,216 3,209 6,379 18,862 29,018 Lease liabilities 10,725 1,600 1,603 4,538 2,984 - Guarantee deposits 5,765 5,765 - - - - $ 181,280 114,687 4,812 10,917 21,846 29,018 December 31, 2021 Non-derivative financial liabilities Short-term secured borrowings $ 151,601 111,582 40,019 - - - Long-term unsecured borrowings (including current portion) 54,015 3,167 3,159 6,287 18,624 22,778 Lease liabilities 16,174 2,460 2,298 3,881 7,513 22 Guarantee deposits 55,215 1,165 - 5,840 48,210 - $ 277,005 118,374 45,476 16,008 74,347 22,800 The Company does not expect the cash flows included in the maturity analysis to occur significantly earlier or at significantly different amounts. (c) Currency risk i. Exposure to foreign currency risk The Company’s significant exposure to foreign currency risk was as follows: (in thousands) December 31, 2020 December 31, 2021 Foreign Exchange Functional Foreign Exchange Functional currency rate currency currency rate currency Financial assets Monetary items NTD 155,418 28.48 5,457 447,596 27.68 16,170 CNY 35,630 6.5428 5,461 36,450 6.3941 5,701 Financial liabilities Monetary items NTD 1,084,594 28.48 38,083 3,450,959 27.68 124,672 JPY 632,215 103.0786 6,133 1,459,700 115.0936 12,683 ii. Sensitivity analysis The Company’s exposure to foreign currency risk arises from the translation of the foreign currency exchange gains and losses on cash and cash equivalents, accounts receivable, other receivable, accounts payable, other payable and lease liabilities that are denominated in foreign currency. Depreciation or appreciation of the USD by 10% against the New Taiwan Dollars (NTD), CNY and JPY at December 31, 2020 and 2021, while all other variables were remained constant, would have increased or (decreased) the net profit before tax of $3,330 thousand and $11,548 thousand, respectively. iii. Interest rate risk The Company’s short-term secured borrowings and long-term unsecured borrowings carried floating interest rates and fixed interest rates. The Company’s exposure to changes in interest rates is mainly from floating-rate borrowings. Any change in interest rates will cause the effective interest rates of borrowings to change and thus cause the future cash flows to fluctuate over time. The following sensitivity analysis is determined based on the exposure to interest rate risk. For floating-rate debts, the analysis assumes that the balances of outstanding debts at the end of the reporting period had been outstanding for the entire year. For the Company’s floating-rate debts, assuming all other variables were remained constant, an increase or a decrease in the interest rate by 0.25% would have resulted in a decrease or an increase in the net profit before tax for the years ended December 31, 2020 and 2021 by $146 thousand and $131 thousand, respectively. (d) Fair value information i. Financial instruments not measured at fair value The Company considers that the carrying amounts of financial assets and financial liabilities measured at amortized cost approximate their fair values. ii. Financial instruments measured at fair value (1) Fair value hierarchy December 31, 2020 Carrying Fair Value (in thousands) Amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value through profit or loss Money market fund $ 7,799 7,799 - - 7,799 Equity securities-unlisted company 13,966 - - 13,966 13,966 Subtotal 21,765 7,799 - 13,966 21,765 Financial assets measured at fair value through other comprehensive income Equity securities-unlisted company 742 - - 742 742 Total $ 22,507 7,799 - 14,708 22,507 December 31, 2021 Carrying Fair Value (in thousands) Amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value through profit or loss Money market fund $ 2,345 2,345 - - 2,345 Equity securities-unlisted company 13,668 - - 13,668 13,668 Subtotal 16,013 2,345 - 13,668 16,013 Financial assets measured at fair value through other comprehensive income Equity securities-unlisted company 410 - - 410 410 Total $ 16,423 2,345 - 14,078 16,423 (2) Valuation techniques and assumptions used in fair value measurement The fair value of financial instruments traded in active markets is determined with reference to quoted market prices. The fair value of financial instruments is based on the valuation techniques. The fair value using valuation techniques refers to the current fair value of other financial instruments with similar conditions and characteristics, or using a discounted cash flow method, or other valuation techniques which include model calculating with observable market data at the reporting date. The fair value of equity securities-unlisted company is determined by reference to market valuations for similar operating entities quoted in an active market based on the net assets value of investees. The significant unobservable input is primarily the liquidity discounts, 28% for 2021. The estimated fair value would increase (decrease) if the liquidity discount rate were lower (higher). (3) Transfer between levels of the fair value hierarchy There were no transfers between levels for the years ended December 31, 2020 and 2021. (4) Movement in financial assets included in Level 3 of fair value hierarchy Financial assets Financial assets at fair value at fair value through other through profit or comprehensive (in thousands) loss income Total January 1, 2020 $ 13,500 709 14,209 Disposal-capital reduction of investment - (32) (32) Recognized in other comprehensive income - 65 65 Recognized in profit or loss 466 - 466 December 31, 2020 $ 13,966 742 14,708 Financial assets Financial assets at fair value at fair value through other through profit or comprehensive (in thousands) loss income Total January 1, 2021 $ 13,966 742 14,708 Disposal-capital reduction of investment - (151) (151) Recognized in other comprehensive income - (181) (181) Recognized in profit or loss (298) - (298) December 31, 2021 $ 13,668 410 14,078 |
Financial Risk Management
Financial Risk Management | 12 Months Ended |
Dec. 31, 2021 | |
Financial Risk Management | |
Financial Risk Management | Note 24. Financial Risk Management (a) Overview The Company is exposed to the following risks due to usage of financial instruments: (1) Credit risk (2) Liquidity risk (3) Market risk Hereinafter discloses information about the Company’s exposure to variable risks, and the goals, policies and procedures of the Company’s risk measurement and risk management. (b) Risk management framework Management of related divisions are appointed to review, control, trace and monitor the strategic risks, financial risks and operational risks faced by the Company. Management reports to executive officers the progress of risk controls from time to time and, if necessary, report to the board of directors, depending on the extent of impact of risks. (c) Credit risk Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Company’s exposures to credit risk are primarily from cash and cash equivalents, financial assets at amortized cost and accounts receivable. The Company deposits its cash and cash equivalents with various reputable financial institutions. Financial assets at amortized cost are time deposits with original maturities of greater than three months. The Company has not experienced any material losses on deposits of the Company’s cash and cash equivalents and financial assets at amortized cost. Management performs periodic evaluations of the relative credit standing of these financial institutions and limits the amount of credit exposure with any one institution. Management believes that there is a limited concentration of credit risk in cash and cash equivalent and financial assets at amortized cost. The Company derived substantially all of its revenues from sales of display drivers that are incorporated into TFT-LCD panels. The TFT-LCD panel industry is intensely competitive and is vulnerable to cyclical market conditions and subject to price fluctuations. Management continuously evaluates and controls the credit quality, credit limit and financial strength of its customers to ensure any overdue receivables are taken necessary procedures. The Company depends on two customers for majority of its revenues. The Company’s sales to these two customers as a percentage of revenues are as follows: Year Ended December 31, 2019 2020 2021 Customer A and its affiliates 29.50% 32.60% 32.10% Customer C 5.60% 12.70% 19.10% The percentage of the Company’s accounts receivable accounted by customers, those representing more than 10% of total accounts receivable balance, is summarized as follows: December 31, December 31, 2020 2021 Customer A and its affiliates 36.3% 39.0% Customer C 13.6% 12.1% Refer to Note 11 for aging analysis of accounts receivable and the movement in the loss allowance. In addition, the Company has at times agreed to extend the payment terms for certain of its customers. Other customers have also requested extension of payment terms, and the Company may grant such requests for extension in the future. As a result, a default by any such customer, a prolonged delay in the payment of accounts receivable, or the extension of payment terms for the Company’s customers could adversely affect the Company’s cash flow, liquidity and operating results. Management performs ongoing credit evaluations of each customer and adjusts credit policy based upon payment history and the customer’s credit worthiness, as determined by the review of their current credit information. (d) Liquidity risk The objective of liquidity risk management is to ensure the Company has sufficient liquidity to fund its business requirements associated with existing operations over the next 12 months. The Company manages its liquidity risk by maintaining adequate working capital and unused credit facilities. At December 31, 2021, the Company’s working capital together with existing unused credit facilities under its existing loan agreements will be sufficient to fulfill all of its contractual obligations. Therefore, management believes that there is no liquidity risk resulting from incapable of financing to fulfill the contractual obligations. (e) Market risk Market risk is the risk that changes in market prices, such as foreign exchange rates and interest rates, will affect the Company’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return. (1) Currency risk The Company is exposed to currency risk on operating activities that are denominated in a currency other than the respective functional currency of the Company, the USD. The currencies used in these transactions are the NTD, CNY and JPY. (2) Interest rate risk The Company is exposed to interest rate risk primarily related to its outstanding borrowings. The Company’s borrowings carried floating interest rates. To manage the interest rate risk, the Company periodically assesses the interest rates of bank loans and maintains good relationships with financial institutions to obtain lower financing costs. The Company also strengthens the management of working capital to reduce the dependence on bank loans as well as the risk arising from fluctuation of interest rates. |
Capital management
Capital management | 12 Months Ended |
Dec. 31, 2021 | |
Capital management | |
Capital management | Note 25. Capital management Through clear understanding and managing of significant changes in external environment, related industry characteristics, and corporate growth plan, the Company manages its capital structure in a manner to ensure it has sufficient financial resources to fund its working capital needs, capital expenditures, research and development activities, dividend payments and other business requirements associated with its existing operations over the next 12 months. There were no changes in the Company’s approach to capital management during the year ended December 31, 2021. Neither the Company nor its subsidiaries are subject to externally imposed capital managements. December 31, December 31, 2020 2021 (in thousands) Total liabilities $ 424,619 731,212 Less: cash and cash equivalents 184,938 336,024 $ 239,681 395,188 Equity attributable to owners of Himax Technologies, Inc. $ 480,176 869,724 |
Related-party Transactions
Related-party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Related-party Transactions | |
Related-party Transactions | Note 26. Related-party Transactions (a) Name and relationship Name of related parties Relationship Viewsil Microelectronics (Kunshan) Limited (Viewsil) Associates Viewsil Technology Limited (VST) Associates Ganzin Technology Corp. Associates Cheng Mei Materials Technology Corporation (CMMT) (1) Other related parties Ningbo Cheng Mei Materials Technology Co., Ltd. (1) Other related parties Prilit Optronics, Inc. Other related parties Note 1: It became related parties from acquisition date of CMVT, October 30, 2020. (b) Significant transactions with related parties (i) Sales and accounts receivable Year ended December 31, 2019 2020 2021 (in thousands) Sales of goods Other related parties $ - - 125 December 31, 2020 2021 (in thousands) Accounts receivable Other related parties $ - 71 (ii) Purchase and accounts payable Year ended December 31, 2019 2020 2021 (in thousands) Purchase of raw materials CMMT $ - 663 3,469 Other related parties - 26 63 $ - 689 3,532 December 31, 2020 2021 (in thousands) Accounts payable CMMT $ 1,530 233 Other related parties 38 32 $ 1,568 265 (iii) The Company made an interest-free loan of $1,200 thousand and $1,200 thousand as of December 31, 2020 and 2021, respectively, to VST for its short-term funding needs. The loan is repayable on demand and the Company expects it will be repaid in full during 2022. The Company may consider providing further future loans to VST. (iv) Others Year ended December 31, 2019 2020 2021 (in thousands) Revenue from miscellaneous service Associates $ - - 63 Other related parties - - 3 $ - - 66 Technical service fee Viewsil $ 1,800 1,400 1,400 Miscellaneous fee CMMT $ - 84 791 Associates - - 4 $ - 84 795 December 31, 2020 2021 (in thousands) Other receivable Associates $ - 14 Other related parties - 3 $ - 17 Other payable Viewsil $ 2,480 1,400 Other related parties 92 241 $ 2,572 1,641 (c) Compensation of key management personnel For the years ended December 31, 2020 and 2021, the aggregate cash compensation that the Company paid to the independent directors was $135 thousand and $150 thousand, respectively. The aggregate share-based compensation that the Company paid to the independent directors was nil. The compensation to key management personnel for the years ended December 31, 2019, 2020 and 2021 were as follows: Year ended December 31, 2019 2020 2021 (in thousands) Short-term employee benefits $ 822 884 1,068 Post-employment benefits 7 9 12 Share-based compensation 14 41 671 $ 843 934 1,751 |
Pledged assets
Pledged assets | 12 Months Ended |
Dec. 31, 2021 | |
Pledged assets | |
Pledged assets | Note 27. Pledged assets December 31, December 31, Pledged assets Pledged to secure 2020 2021 (in thousands) Restricted cash and time deposit (1) Short-term secured borrowings $ 104,000 151,400 Restricted time deposits (1) For foundry capacities - 2,700 Restricted time deposits (1) For customs duties 141 36 Land (2) Long-term unsecured borrowings 27,500 27,500 Building and improvements (2) Long-term unsecured borrowings 43,616 40,310 $ 175,257 221,946 Note (1): The pledged assets are booked as restricted deposits and classified as current or noncurrent by its liquidity. Note (2): Guarantee and collateral for long-term unsecured borrowings. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies | |
Commitments and Contingencies | Note 28. Commitments and Contingencies (a) As of December 31, 2020 and 2021, the Company had entered into several contracts for the acquisition of equipment and computer software. Total contract prices amounted to $4,893 thousand and $2,377 thousand, respectively. As of December 31, 2020 and 2021, the remaining commitments were $3,902 thousand and $2,030 thousand, respectively. (b) The Company from time to time is subject to claims regarding the proprietary use of certain technologies. Currently, management is not aware of any such claims that it believes could have a material adverse effect on the Company’s financial position or results of operations. (c) Since Himax Taiwan is not a listed company, it will depend on Himax Technologies, Inc. to meet its equity financing requirements in the future. Any capital contribution by Himax Technologies, Inc. to Himax Taiwan may require the approval of the relevant ROC authorities. The Company may not be able to obtain any such approval in the future in a timely manner, or at all. If Himax Taiwan is unable to receive the equity financing it requires, its ability to grow and fund its operations may be materially and adversely affected. (d) The Company has entered into several wafer fabrication or assembly and testing service arrangements or multi-year purchase agreements with suppliers. The Company may be obligated to make payments for purchase orders entered into pursuant to these arrangements. The Company’s purchase obligations also include agreements to purchase goods or services, primarily inventory, that are enforceable and legally binding on us and that specify all significant terms, including fixed or minimum quantities to be purchased, fixed or variable price provisions, and the approximate timing of the transaction. Among all these purchase agreements, the longest termination term shall expire in 2028. Purchase obligations exclude agreements that are cancelable without penalty. Contractual obligations resulting from above purchase orders and agreements with known amounts approximate $290 million and $2,655 million as of December 31, 2020 and 2021, respectively. Of obligations under above purchase orders and agreements, at December 31, 2021, $628 million is expected to be paid in the next 12 months. (e) The Company is involved in various claims arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations, or liquidity. As of December 31, 2021, management is not aware of any pending litigation against the Company. |
Segment, Product and Geographic
Segment, Product and Geographic Information | 12 Months Ended |
Dec. 31, 2021 | |
Segment, Product and Geographic Information | |
Segment, Product and Geographic Information | Note 29. Segment, Product and Geographic Information The Company has two operating segments: Driver IC and Non-driver Products. The Driver IC segment generally is engaged in the design, research, development and sale of displays driver for large-sized TFT-LCD panels, which are used in televisions and desktop monitors, and displays driver for small and medium-sized TFT-LCD panels, which are used in mobile handsets and consumer electronics products. The Non-driver segment primarily is engaged in the design, research, manufacturing and sale of non-driver products, such as timing controllers, 3D Sensing Solution, LCoS, CMOS Image Sensors and WLO. Year Ended December 31, 2019 Non-driver Consolidated Driver IC products Total (in thousands) Segment revenues $ 544,727 127,108 671,835 Segment operating income (loss) $ 29,070 (47,377) (18,307) Non operating income, net 2,539 Consolidated loss before income taxes $ (15,768) Significant noncash items: Share-based compensation $ 221 236 457 Depreciation and amortization $ 5,511 18,888 24,399 Year Ended December 31, 2020 Non-driver Consolidated Driver IC products Total (in thousands) Segment revenues $ 756,522 130,760 887,282 Segment operating income (loss) $ 98,687 (40,761) 57,926 Non operating loss, net (1,054) Consolidated profit before income taxes $ 56,872 Significant noncash items: Share-based compensation $ 481 282 763 Depreciation and amortization $ 5,959 17,637 23,596 Year Ended December 31, 2021 Non-driver Consolidated Driver IC products Total (in thousands) Segment revenues $ 1,361,442 185,655 1,547,097 Segment operating income (loss) $ 551,943 (6,922) 545,021 Non operating loss, net (429) Consolidated profit before income taxes $ 544,592 Significant noncash items: Share-based compensation $ 424 276 700 Depreciation and amortization $ 5,598 15,744 21,342 The following tables summarize information pertaining to the segment revenues from customers in different geographic region (based on customer’s headquarter location): For the year ended December 31, 2019 Non-driver Consolidated Driver IC products Total (in thousands) China $ 421,729 50,643 472,372 Taiwan 90,971 38,286 129,257 Other Asia Pacific (Philippines, Korea and Japan) 31,861 36,918 68,779 Europe and America 166 1,261 1,427 $ 544,727 127,108 671,835 For the year ended December 31, 2020 Non-driver Consolidated Driver IC products Total (in thousands) China $ 643,527 63,475 707,002 Taiwan 88,001 35,179 123,180 Other Asia Pacific (Philippines, Korea and Japan) 24,964 31,231 56,195 Europe and America 30 875 905 $ 756,522 130,760 887,282 For the year ended December 31, 2021 Non-driver Consolidated Driver IC products Total (in thousands) China $ 1,149,442 111,656 1,261,098 Taiwan 167,728 51,378 219,106 Other Asia Pacific (Philippines, Korea and Japan) 44,272 21,912 66,184 Europe and America - 709 709 $ 1,361,442 185,655 1,547,097 The following tables summarize information pertaining to the segment revenues from major product lines: For the year ended December 31, 2019 Non-driver Consolidated Driver IC products Total (in thousands) Display drivers for large-sized applications $ 237,276 - 237,276 Display drivers for small and medium-sized applications 307,451 - 307,451 Non-driver products - 127,108 127,108 $ 544,727 127,108 671,835 For the year ended December 31, 2020 Non-driver Consolidated Driver IC products Total (in thousands) Display drivers for large-sized applications $ 240,789 - 240,789 Display drivers for small and medium-sized applications 515,733 - 515,733 Non-driver products - 130,760 130,760 $ 756,522 130,760 887,282 For the year ended December 31, 2021 Non-driver Consolidated Driver IC products Total (in thousands) Display drivers for large-sized applications $ 397,905 - 397,905 Display drivers for small and medium-sized applications 963,537 - 963,537 Non-driver products - 185,655 185,655 $ 1,361,442 185,655 1,547,097 The carrying values of the Company’s property, plant and equipment are located in the following countries: December 31, December 31, 2020 2021 (in thousands) Taiwan $ 128,941 130,951 U.S. 1,413 1,163 China 878 662 Korea 524 343 Israel 167 65 Japan 151 52 $ 132,074 133,236 Revenues from significant customers, those representing 10% or more of total revenue for the respective periods, are summarized as follows: Year ended December 31, 2019 2020 2021 (in thousands) Driver IC segment: Customer A and its affiliates $ 182,442 264,700 443,930 Customer C 33,318 109,911 290,578 $ 215,760 374,611 734,508 Non-driver products segment: Customer A and its affiliates $ 15,988 24,963 53,153 Customer C 4,313 2,593 4,639 $ 20,301 27,556 57,792 Accounts receivable from significant customers, those representing 10% or more of total accounts receivable for the respective dates, is summarized as follows: December 31, December 31, 2020 2021 (in thousands) Customer A and its affiliates $ 88,353 160,107 Customer C 33,171 49,806 $ 121,524 209,913 The Company has recognized the following contract liabilities in relation to revenue from contracts with customers: December 31, December 31, 2020 2021 (in thousands) Contract liabilities-current $ 6,622 37,663 Contract liabilities-non-current $ - 10,221 Revenue recognized in the current reporting period amounted to $6,146 thousand was related to carried-forward contract liabilities for performance obligations not satisfied in prior year. All of the service contracts are for periods of one year or less. As permitted under IFRS 15, the transaction price allocated to these unsatisfied contracts is not disclosed. As of December 31, 2021, the Company did not recognize an asset in relation to costs to fulfill a service contract. |
The Nature of Expenses
The Nature of Expenses | 12 Months Ended |
Dec. 31, 2021 | |
The Nature of Expenses | |
The Nature of Expenses | Note 30. The Nature of Expenses (a) Depreciation of property, plant and equipment Year ended December 31, 2019 2020 2021 (in thousands) Recognized in cost of revenues $ 8,146 6,935 6,093 Recognized in operating expenses 14,040 14,938 13,511 $ 22,186 21,873 19,604 (b) Amortization of intangible assets Year ended December 31, 2019 2020 2021 (in thousands) Recognized in cost of revenues $ 58 57 78 Recognized in operating expenses 2,155 1,666 1,660 $ 2,213 1,723 1,738 (c) Employee benefits expense Year ended December 31, 2019 2020 2021 (in thousands) Salary $ 80,617 88,149 126,976 Labor and health insurance 5,668 5,805 7,232 Pension 5,246 4,536 5,993 Others 3,586 4,867 6,608 $ 95,117 103,357 146,809 Employee benefits expense summarized by function Recognized in cost of revenues $ 5,597 5,579 7,856 Recognized in operating expenses 89,520 97,778 138,953 $ 95,117 103,357 146,809 |
Himax Technologies, Inc. (the P
Himax Technologies, Inc. (the Parent Company only) | 12 Months Ended |
Dec. 31, 2021 | |
Equity attributable to owners of parent [member] | |
IFRS Statement [Line Items] | |
Himax Technologies, Inc. (the Parent Company only) | Note 31. Himax Technologies, Inc. (the Parent Company only) As a holding company, dividends received from Himax Technologies, Inc.’s subsidiaries in Taiwan, if any, will be subjected to withholding tax under ROC law as well as statutory and other legal restrictions. The condensed separate financial information of Himax Technologies, Inc. is presented as follows: Condensed Statements of Financial Position December 31, December 31, 2020 2021 (in thousands) Cash $ 1,980 972 Financial asset at amortized cost 5,405 5,659 Other current assets 434 516 Financial asset at fair value through profit or loss 12,412 12,269 Investments in subsidiaries and affiliates 791,056 1,228,969 Total assets $ 811,287 1,248,385 Current liabilities $ 195 885 Current portion of long-term unsecured borrowings 6,000 6,000 Short-term secured borrowings 104,000 151,400 Debt borrowing from a subsidiary 168,416 173,876 Long-term unsecured borrowings 52,500 46,500 Total equity 480,176 869,724 Total liabilities and equity $ 811,287 1,248,385 Himax Technologies, Inc. had no guarantees as of December 31, 2020 and 2021. Condensed Statements of Profit or Loss Year ended December 31, 2019 2020 2021 (in thousands) Revenues $ - - - Costs and expenses 1,206 704 1,037 Operating loss (1,206) (704) (1,037) Interest income 162 126 148 Changes in fair value of financial assets at fair value through profit or loss 3,755 427 (143) Foreign currency exchange gains (losses), net (69) 356 115 Finance costs (4,165) (3,629) (1,320) Share of profits (loss) of subsidiaries and affiliates (12,091) 50,558 439,133 Profit (loss) before income taxes (13,614) 47,134 436,896 Income tax expense - - - Profit (loss) for the year $ (13,614) 47,134 436,896 Condensed Statements of Other Comprehensive Income Year Ended December 31, 2019 2020 2021 (in thousands) Profit (loss) for the year $ (13,614) 47,134 436,896 Other comprehensive income: Items that will not be reclassified to profit or loss: Remeasurements of defined benefit pension plans 197 (213) 160 Unrealized gain (loss) on financial assets at fair value through other comprehensive income (30) 67 (179) Income tax related to items that will not be reclassified subsequently (25) 38 (27) Items that may be reclassified subsequently to profit or loss: Foreign operations - foreign currency translation differences (545) 512 (72) Other comprehensive income for the year, net of tax (403) 404 (118) Total comprehensive income for the year $ (14,017) 47,538 436,778 Condensed Statements of Cash Flows Year ended December 31, 2019 2020 2021 (in thousands) Cash flows from operating activities: Profit (loss) for the year $ (13,614) 47,134 436,896 Adjustments for: Changes in fair value of financial assets at fair value through profit or loss (3,755) (427) 143 Interest income (162) (126) (148) Finance costs 4,165 3,629 1,320 Share of losses (profits) of subsidiaries and affiliates 12,091 (50,558) (439,133) Unrealized foreign currency exchange losses (gains) 69 (356) (115) (1,206) (704) (1,037) Changes in: Other current assets 320 (267) (72) Other current liabilities (58) (71) 750 Cash generated from operating activities (944) (1,042) (359) Interest received 174 130 139 Interest paid (844) (730) (858) Net cash used in operating activities (1,614) (1,642) (1,078) Cash flows from investing activities: Acquisitions of financial asset at amortized cost (170) (129) (139) Acquisitions of equity method investment - (758) - Cash received from loan made to related party 2,780 - - Net cash provided by (used in) investing activities 2,610 (887) (139) Cash flows from financing activities: Payments of cash dividends - - (47,404) Proceeds from long-term unsecured borrowings - 60,000 - Repayments of long-term unsecured borrowings - (1,500) (6,000) Proceeds from short-term secured borrowings 158,000 278,000 611,600 Repayments of short-term secured borrowings (158,000) (338,000) (564,200) Proceeds from issue of RSUs from a subsidiary 311 — 31 Proceeds from exercise of employee stock options - 3,707 1,182 Proceeds from debt from a subsidiary 150,430 151,730 159,205 Repayments of debt from a subsidiary (151,548) (150,430) (154,205) Net cash provided by (used in) financing activities (807) 3,507 209 Net increase (decrease) in cash 189 978 (1,008) Cash at beginning of year 813 1,002 1,980 Cash at end of year $ 1,002 1,980 972 |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Significant accounting policies | |
Basis of Consolidation | (a) Basis of Consolidation The accompanying consolidated financial statements include the accounts and operations of Himax Technologies, Inc. and its majority owned subsidiaries and entities that it has a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. |
List of Subsidiaries in the Consolidated Financial Statements | (b) List of Subsidiaries in the Consolidated Financial Statements Following is general information about Himax Technologies, Inc.’s subsidiaries: Percentage of Ownership Jurisdiction of December 31, December 31, Investor Subsidiary Main activities Incorporation 2020 2021 Himax Technologies, Inc. Himax Technologies Limited (“Himax Taiwan”) IC design and sales ROC 100.00 % 100.00 % Himax Technologies, Inc. Himax Technologies Korea Ltd. IC design and sales South Korea 100.00 % 100.00 % Himax Technologies, Inc. Himax Technologies Japan Ltd. Sales Japan 100.00 % 100.00 % Himax Technologies, Inc. Himax Semiconductor (Hong Kong) Limited Investments Hong Kong 100.00 % 100.00 % Himax Technologies Limited Himax Technologies (Samoa), Inc. Investments Samoa 100.00 % 100.00 % Himax Technologies (Samoa), Inc. Himax Technologies (Suzhou) Co., Ltd. Sales and technical support PRC 100.00 % 100.00 % Himax Technologies (Samoa), Inc. Himax Technologies (Shenzhen) Co., Ltd. Sales and technical support PRC 100.00 % 100.00 % Himax Technologies Limited Himax Display, Inc. LCoS and MEMS design, manufacturing and sales ROC 82.68 % 83.54 % Himax Display, Inc. Integrated Microdisplays Limited LCoS design Hong Kong 82.68 % 83.54 % Himax Display, Inc. Himax Display (USA) Inc. LCoS and MEMS design, sales and technical support Delaware, USA 82.68 % 83.54 % Himax Technologies Limited Himax Analogic, Inc. IC design and sales ROC 98.62 % 98.62 % Himax Technologies, Inc. Himax Imaging, Inc. Investments Cayman Islands 100.00 % 100.00 % Himax Technologies Limited Himax Imaging, Ltd. (“Imaging Taiwan”) IC design and sales ROC 96.85 % 98.42 % Himax Imaging, Ltd. Himax Imaging Corp. IC design California, USA 96.85 % 98.42 % Himax Technologies Limited Himax Media Solutions, Inc. ASIC service ROC 99.22 % 99.22 % Himax Technologies Limited Harvest Investment Limited Investments ROC 100.00 % 100.00 % Himax Technologies Limited Liqxtal Technology Inc. LC Lens design and sales ROC 67.49 % 67.49 % Himax Technologies Limited Himax IGI Precision Ltd. 3D micro and nano structure mastering and prototype replication Delaware, USA 100.00 % 100.00 % Himax Technologies Limited Emza Visual Sense Ltd. Visual sensors and efficient machine vision algorithm Israel 100.00 % 100.00 % Himax Technologies Limited CM Visual Technology Corp. (1) Omniwide film products design and sales ROC 66.71 % 66.71 % Note (1): On October 30, 2020, Himax Technologies Limited acquired 66.71% of the shareholdings of CM Visual Technology Corp. (“CMVT”) and therefore, obtained control over CMVT. Refer to Note 5(c) for further details. Principal Activities The Company is a fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company is a worldwide market leader in display driver ICs and timing controllers used in TVs, laptops, monitors, mobile phones, tablets, automotive, digital cameras, car navigation, virtual reality (VR) devices and many other consumer electronics devices. Additionally, the Company designs and provides controllers for touch sensor displays, in-cell Touch and Display Driver Integration (TDDI) single-chip solutions, LED driver ICs, power management ICs, and LCoS micro-displays for augmented reality (AR) devices and heads-up displays (HUD) for automotive. The Company also offers CMOS image sensors, wafer level optics for AR devices, 3D sensing and ultralow power AI image sensing, which are used in a wide variety of applications such as mobile phone, tablet, laptop, TV, PC camera, automobile, security, medical devices, home appliance, AIoT, etc. |
Foreign Currency | (c) Foreign Currency The reporting currency of the Company is the United States dollar (USD). The functional currency for the Company and its major operating subsidiaries is the USD. Accordingly, the assets and liabilities of subsidiaries whose functional currency is other than the USD are included in the consolidation by translating the assets and liabilities into the reporting currency (the USD) at the exchange rates applicable at the end of the reporting period. Equity accounts are translated at historical rates. The statements of profit or loss and cash flows are translated at the average exchange rates at the date of transaction. Translation gains or losses are accumulated as a separate component of equity in accumulated other comprehensive income. |
Classification of Current and Noncurrent Assets and Liabilities | (d) Classification of Current and Noncurrent Assets and Liabilities Current assets are assets held for trading purposes and assets expected to be converted to cash, sold or consumed within one year from the end of the reporting period. Current liabilities are obligations incurred for trading purposes and obligations expected to be settled within one year from the end of the reporting period. Assets and liabilities that are not classified as current are noncurrent assets and liabilities, respectively. |
Cash and Cash Equivalents | (e) Cash and Cash Equivalents Cash comprise cash balances and demand deposits. Cash equivalents comprise short-term highly liquid investments that are readily convertible into known amounts of cash and are subject to an insignificant risk of changes in their fair value. Deposits with an original maturity of three months or less at the time of purchase but not for investments and other purposes and are qualified with the aforementioned criteria are classified as cash equivalent. |
Financial Instruments | (f) Financial Instruments The Company shall recognize a financial asset or a financial liability in its statement of financial position when, and only when, the Company becomes party to the contractual provisions of the instrument. A regular way purchase or sale of financial assets shall be recognized and derecognized, as applicable, using trade date accounting. 1. Financial Assets (i) Classification of financial assets The classification of financial assets depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. Financial assets are classified into the following categories: measured at amortized cost, measured at fair value through other comprehensive income (FVTOCI) and measured at fair value through profit or loss (FVTPL). The classification of financial assets is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. When, and only when, the Company changes its business model for managing financial assets it shall reclassify all affected financial assets. i. Financial assets measured at amortized cost A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as measured at fair value through profit or loss: (i) the asset held within a business model whose objective is to hold assets to collect contractual cash flows; and (ii) the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets measured at amortized cost are subsequently measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss. ii. Financial assets measured at fair value through other comprehensive income (FVTOCI) On initial recognition of an equity investment that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investment-by-investment basis. Equity investments at FVTOCI are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI. When an investment is derecognized, the cumulative gain or loss in equity will not be reclassified to profit or loss, instead, is reclassified to retained earnings. iii. Financial assets measured at fair value through profit or loss (FVTPL) All financial assets not classified as measured at amortized cost or at fair value through other comprehensive income as described above are measured at fair value through profit or loss. Such financial assets are initially recognized at fair value, and attributable transaction costs are recognized in profit or loss as incurred. Subsequent to initial recognition, they are measured at fair value and changes therein are recognized in profit or loss. (ii) Impairment of financial assets The Company recognizes loss allowances for expected credit loss on financial assets measured at amortized cost (including accounts receivable) and contract assets. The loss allowance for accounts receivable and contract assets are measured at an amount equal to lifetime expected credit losses. For financial assets at amortized cost and contract assets, when the credit risk on the financial instrument has not increased significantly since initial recognition, a loss allowance is recognized at an amount equal to expected credit loss resulting from possible default events of a financial instrument within 12 months after the reporting date. If, on the other hand, there has been a significant increase in credit risk since initial recognition, a loss allowance is recognized at an amount equal to expected credit loss resulting from all possible default events over the expected life of a financial instrument. When determining whether the credit risk of a financial instrument has increased significantly since initial recognition, the Company considers reasonable and supportable information that is relevant. This includes both qualitative and quantitative information and analysis, based on the Company’s historical experience and credit assessment as well as forward-looking information. The Company recognizes an impairment gain or loss in profit or loss for all financial instruments with a corresponding adjustment to their carrying amount through a loss allowance account. (iii) Derecognition of financial assets The Company derecognizes a financial asset only when the contractual rights to the cash flows from the financial asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the financial asset to another entity. On derecognition of a financial asset at amortized cost in its entirety, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss. However, on derecognition of an investment in an equity instrument at FVTOCI, the cumulative gain or loss that had been recognized in other comprehensive income is transferred directly to retained earnings, without recycling through profit or loss. 2. Financial Liabilities (i) Classification of financial liability The Company classify all financial liabilities as measured at amortized cost, except for financial liabilities measured at fair value through profit or loss. Such liabilities, including derivatives that are liabilities, shall be subsequently measured at fair value. (ii) Derecognition of financial liability The Company removes a financial liability from its statement of financial position when, and only when, it is extinguished-when the obligation specified in the contract is discharged or cancelled or expires. On derecognition of a financial liability at amortized cost in its entirety, the difference between the carrying amount of a financial liability extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, shall be recognized in profit or loss. |
Inventories | (g) Inventories Inventories primarily consist of raw materials, work-in-process and finished goods awaiting final assembly and test and are stated at the lower of cost and net realizable value. Cost is determined using the weighted-average method. For work-in-process and manufactured inventories, cost consists of the cost of raw materials (primarily fabricated wafer and processed tape), direct labor and an appropriate proportion of production overheads. Net realizable value for raw materials is based on replacement cost. Net realizable value for finished goods and work in process is calculated based on the estimated selling price less all estimated costs of completion and necessary selling costs. |
Equity Method Investments | (h) Equity Method Investments Equity investments in entities where the Company has the ability to exercise significant influence over the operating and financial policy decisions of the investee but does not have a controlling financial interest in the investee, are accounted for using the equity method. The Company’s share of the net income or net loss of an investee is recognized in earnings from the date the significant influence commences until the date that significant influence ceases. The difference between the cost of an investment and the amount of underlying equity in net assets of an investee at investment date is allocated to related assets which are amortized over their useful lives. Any unallocated difference is treated as investor-level goodwill and is not amortized. The Company discontinues the use of the equity method from the date when the Company ceases to have significant influence over an associate, and then measures the retained interests at fair value at that date. The difference between the carrying amount of the investment at the date the equity method was discontinued and the fair value of the retained interests along with any proceeds from disposing of a part of the interest in the associate is recognized in profit or loss. When the Company discontinues the use of the equity method, the Company shall account for all amounts previously recognized in other comprehensive income in relation to that investment on the same basis as would have been required if the investee had directly disposed of the related assets or liabilities. At the end of each reporting period, if there is any indication of impairment, the entire carrying amount of the investment including goodwill is tested for impairment as a single asset, by comparing its recoverable amount with its carrying amount. An impairment loss recognized forms part of the carrying amount of the investment in associates. Accordingly, any reversal of that impairment loss is recognized to the extent that the recoverable amount of the investment subsequently increases. |
Property, Plant and Equipment | (i) Property, Plant and Equipment Property, plant and equipment consists primarily of land, building and machinery and equipment used in the design and development of products, and is stated at cost less accumulated depreciation and any accumulated impairment loss. Depreciation on building and machinery and equipment commences when the asset is ready for its intended use. Except for the following paragraph, depreciation is primarily calculated on the straight-line method over the estimated useful lives of related assets which range as follows: building 25 years, building improvements 4 to 16 years, machinery 4 to 10 years, research and development equipment 2 to 6 years, office furniture and equipment 3 to 8 years, others 2 to 10 years. Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or the estimated useful life of the asset. Embedded software is amortized on a straight-line basis over the estimated useful lives ranging from 2 to 10 years. Land is not depreciated. If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment. During the year 2017, certain new machinery and equipment have been acquired for specific project. The depreciation on these new assets is calculated on Fixed-Percentage-on-Declining-Base Method basis over the estimated useful lives of 3 years. The Company thinks that method would most closely reflect the expected pattern of consumption of the future economic benefits embodied in those assets. Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate. |
Leases | (j) Leases a. Identifying a lease A contract is, or contains, a lease when all the following conditions are satisfied: (i) the contract involves the use of an identified asset, and the supplier does not have a substantive right to substitute the asset; and (ii) the Company has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use; and (iii) the Company has the right to direct the use of the identified asset throughout the period of use. b. As a lessee Payments for leases of low-value assets and short-term leases are recognized as expenses on a straight-line basis during the lease term for which the recognition exemption is applied. Except for leases described above, a right-of-use asset and a lease liability shall be recognized for all other leases at the lease commencement date. The Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The lease liability is initially measured at the present value of the lease payments, discounted using the lessee's incremental borrowing rate. The Company determines its incremental borrowing rate by obtaining interest rates from various external financing sources. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability, adjusted for any lease payments made at or before the commencement date, less any lease incentives received, plus any initial direct costs incurred and an estimate of costs to be incurred in restoring the underlying asset. The right-of-use asset is subsequently depreciated using the straight-line method over the shorter of the useful life of the right-of-use asset or the lease term. The lease liability is subsequently measured at amortized cost using the effective interest method. It is remeasured (i) if there is a change in the lease term; (ii) if there is a change in future lease payments arising from a change in an index or a rate; (iii) if there is a change in the amounts expected to be payable under a residual value guarantee; or (iv) if the Company changes its assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in the circumstances aforementioned, a corresponding adjustment is made to the carrying amount of the right-of-use asset. However, if the carrying amount of the right-of-use asset is reduced to zero, any remaining amount of the remeasurement is recognized in profit or loss. Lease payments included in the measurement of the lease liability comprise the following: (i) fixed payments, including in-substance fixed payments. (ii) the exercise price under a purchase option that the Company is reasonably certain to exercise and lease payments in an optional renewal period if the Company is reasonably certain to exercise an extension option. Moreover, the lease liability is remeasured when lease modifications occur that decrease the scope of the lease. The Company accounts for the remeasurement of the lease liability by decreasing the carrying amount of the right-of-use asset to reflect the partial or full termination of the lease and recognizes in profit or loss any gain or loss relating to the partial or full termination of the lease. c. As a lessor Lease income from an operating lease is recognized in profit or loss on a straight-line basis over the lease term. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the asset leased. |
Goodwill | (k) Goodwill Goodwill is recognized when the purchase price exceeds the fair value of identifiable net assets acquired in a business combination. Goodwill is measured at cost less accumulated impairment losses, if any. Goodwill from acquisition of Himax Semiconductor, Inc. (formerly Wisepal Technologies, Inc., merged into Himax Technologies Limited on July 2, 2018) in 2007 amounting $26,846 thousand has been assigned to Driver IC cash generating unit (“CGU”) and goodwill from acquisition of Himax Display (USA) Inc. in 2012 amounting $1,292 thousand has been assigned to WLO CGU because these CGUs are expected to benefit from the synergies of the business combinations. Goodwill is not amortized and instead is reviewed for impairment at least annually, or more frequently when there is an indication that the CGU may be impaired. For the purpose of impairment testing, goodwill is allocated to each of the Company’s CGU or groups of CGU that are expected to benefit from the synergies of the combination. If the recoverable amount of a cash-generating unit is less than its carrying amount, the difference is allocated first to reduce the carrying amount of any goodwill allocated to such CGU and then to the other assets of the CGU pro rata based on the carrying amount of each asset in the CGU. Any impairment loss for goodwill is recognized directly in profit or loss. An impairment loss recognized for goodwill is not reversed in subsequent periods. The recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use which was calculated based on the cash flow forecast from the financial budgets covering the future five-year period with the terminal growth rate. The annual discount rate was 18.28% and 8.05% in its test of Goodwill impairment for Driver IC CGU as of December 31, 2020 and 2021, respectively, based on industry weighted average cost of capital. The annual discount rate for WLO CGU was 15.41% and 13.33% as of December 31, 2020 and 2021, respectively. The terminal growth rate, based on following 5 years average Taiwan economic growth rate published by International Monetary Fund, was 2.32% and 2.46% used in the test for both CGUs as of December 31, 2020 and 2021, respectively. The key assumptions abovementioned represents the management’s forecast of the future for the related industry by considering the history information from internal and external sources. For the years ended December 31, 2019, 2020 and 2021, the Company did not recognize any impairment loss on goodwill. |
Other Intangible Assets | (l) Other Intangible Assets Acquired intangible assets include patents, intellectual property and developed technology acquired in a business combination. These intangible assets are amortized on a straight-line basis over the following estimated useful lives: software 2-10 years, patents 12-15 years, intellectual property 10 years and technology 7 years. Amortization methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate. |
Impairment of Non-Financial Assets | (m) Impairment of Non-Financial Assets The Company’s long-term non-financial assets, which consist of property, plant and equipment and intangible assets, are reviewed at the reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. Considering the terminal growth rate if non-financial assets with an indefinite useful life are allocated to the CGU in comparison with its carrying amount. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the “cash-generating unit, or CGU”). The annual discount rate was 13.23% and 11.40% in its test of non-financial assets impairment with an indefinite useful life for CMOS CGU as of December 31, 2020 and 2021, respectively, based on industry weighted average cost of capital. The terminal growth rate, based on following 5 years average Taiwan economic growth rate published by International Monetary Fund, was 2.32% and 2.46% used in the test as of December 31, 2020 and 2021, respectively. The key assumptions abovementioned represents the management's forecast of the future for the related industry by considering the history information from internal and external sources. An impairment loss is recognized if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss. When an impairment loss subsequently reverses, the carrying amount of the asset or a CGU is increased to the revised estimate of its recoverable amount, but the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset or CGU in prior years. A reversal of an impairment loss is recognized immediately in profit or loss. |
Revenue Recognition | (n) Revenue Recognition IFRS 15 establishes principles for recognizing revenue that apply to all contracts with customers, using a five-step model framework to determine the method, timing and amount of revenue recognized. The Company generates revenue primarily from sale of goods or services. Revenue from contracts with customers is disaggregated by primarily geographical market and major products. Under IFRS 15, the Company identifies the contract with the customers and recognizes revenue when performance obligations are satisfied. Revenue is measured based on the consideration that the Company expects to be entitled in the transfer of goods or services to a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. Customers obtain control of the product when the goods are delivered and accepted by customers. Invoices are generated at that point in time. The Company's revenue recognition from product sales is measured at the amount that is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Revenue is reduced for estimated rebates and other similar allowances. Trade receivable is recognized when the Company is entitled for unconditional right to receive payment upon delivery of goods to customers. The consideration received in advance from the customer but without delivery of goods is recognized as a contract liability, for which revenue is recognized when the control over the goods is transferred to the customer. The Company expects that the length of time when the Company transfers the goods or services to the customer and when the customer pays for those goods or services will be less than one year. Therefore, the amount of consideration is not adjusted for the time value of money. |
Employee Benefits | (o) Employee Benefits 1. Short-term employee benefits Short-term employee benefits are expensed unless another policy allows or requires it to be capitalized. Liabilities recognized in respect of short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in exchange for service rendered by employees. 2. Share-based payment arrangements The cost of employee services received in exchange for share-based compensation is measured based on the grant-date fair value of the share-based instruments issued. The cost of employee services is equal to the grant-date fair value of shares issued to employees and is recognized in earnings with a corresponding increase in equity over the service period by graded vesting. Compensation cost also considers the number of awards management believes will eventually vest. As a result, compensation cost is reduced by the estimated forfeitures. The estimate is adjusted each period to reflect the current estimate of forfeitures, and finally, the actual number of awards that vest. 3. Defined contribution plans Obligations for contributions to defined contribution pension plans are recognized as an employee benefit expense in profit or loss in the periods during which services are rendered by employees. 4. Defined benefit plans The Company’s net obligation in respect of defined benefit pension plans is calculated separately for each benefit plan by estimating the amount of future benefit that employees have earned in the current and prior periods, discounting that amount and deducting the fair value of any plan assets. For defined benefit retirement benefit plans, the cost of providing benefit is recognized based on actuarial calculations. Defined benefit costs (including service cost, net interest and remeasurement) under the defined benefit retirement benefit plans are determined using the Projected Unit Credit Method. Service cost (including current service cost), and net interest on the net defined benefit liability (asset) are recognized as employee benefits expense in profit or loss in the period they occur. Remeasurement, comprising actuarial gains and losses and the return on plan assets (excluding interest), is recognized in other comprehensive income in the period in which they occur. Remeasurement recognized in other comprehensive income is reflected immediately in retained earnings and will not be reclassified to profit or loss. |
Income Taxes | (p) Income Taxes Income tax expense comprises current and deferred taxes. It is recognized in profit or loss except to the extent that it relates to a business combination, or items recognized directly in equity or in other comprehensive income. 1. Current tax Current taxes comprise the expected tax payable or receivable on the taxable income or losses for the year and any adjustments to tax payable or receivable in respect of previous years. It is measured using tax rates enacted or substantively enacted tax rate at the reporting date. 2. Deferred tax Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts of existing assets and liabilities in the financial statements and their respective tax bases, and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized; such reductions are reversed when the probability of future taxable profits improves. |
Business Combinations | (q) Business Combinations Acquisitions of businesses are accounted for using the acquisition method. Acquisition-related costs are generally recognized in profit or loss as incurred. Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer’s previously held equity interest in the acquiree over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. Non-controlling interests are initially measured at the non-controlling interests’ proportionate share of the fair value of the acquiree’s identifiable net assets. Any contingent consideration payable is measured at fair value at the acquisition date. If the contingent consideration is classified as equity, then it is not remeasured and settlement is accounted for within equity. Otherwise, subsequent changes in the fair value of contingent consideration are recognized in profit or loss. When a business combination is achieved in stages, the Company’s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date, and the resulting gain or loss is recognized in profit or loss. |
Earnings Per Ordinary Share | (r) Earnings Per Ordinary Share Basic earnings per ordinary share is computed using profit or loss attributable to the shareholders and weighted average number of ordinary shares outstanding during the period. Diluted earnings per ordinary share is computed using the weighted average number of ordinary and diluted ordinary equivalent shares outstanding during the period. Ordinary equivalent shares are ordinary shares that are contingently issuable upon the vesting of unvested restricted share units (RSUs) and employee stock options granted to employees. Basic and diluted earnings per ordinary share have been calculated as follows: Year Ended December 31, 2019 2020 2021 Profits (loss) attributable to Himax Technologies, Inc. stockholders (in thousands) $ (13,614) 47,134 436,896 Denominator for basic earnings per ordinary share: Weighted average number of ordinary shares outstanding (in thousands) 345,101 345,708 349,228 Basic earnings (loss) per ordinary share attributable to Himax Technologies, Inc. stockholders $ (0.04) 0.14 1.25 Basic earnings (loss) per ADS attributable to Himax Technologies, Inc. stockholders (2) $ (0.08) 0.27 2.50 Contingently issuable ordinary shares underlying the unvested RSUs and employee stock options granted to employees are included in the calculation of diluted earnings per ordinary share based on treasury stock method. Year Ended December 31, 2019 2020 2021 Profits (loss) attributable to Himax Technologies, Inc. stockholders (in thousands) $ (13,614) 47,134 436,896 Denominator for diluted earnings per ordinary share: Weighted average number of ordinary shares outstanding (in thousands) 345,101 345,708 349,228 Unvested RSUs (in thousands) (1) - - 505 Employee stock options (in thousands) (1) - 1,058 - 345,101 346,766 349,733 Diluted earnings (loss) per ordinary share attributable to Himax Technologies, Inc. stockholders $ (0.04) 0.14 1.25 Diluted earnings (loss) per ADS attributable to Himax Technologies, Inc. stockholders (2) $ (0.08) 0.27 2.50 Note (1): Since the Company had net loss for 2019, the unvested RSUs and employee stock options are not being considered with dilutive effect for the year. Note (2): As the Company’s ordinary shares have been quoted on the NASDAQ Global Select Market under the symbol “HIMX” in the form of ADSs and two ordinary shares represent one ADS with effect from August 10, 2009. The number of ADS equivalent outstanding is determined by dividing the number of ordinary shares by two. Therefore, the weighted average number of ADS equivalent outstanding used in basic earnings per ADS for 2019, 2020 and 2021 is 172,550 thousand, 172,854 thousand and 174,614 thousand, respectively. Additionally, the weighted average number of ADS equivalent outstanding used in diluted earnings per ADS for 2019, 2020 and 2021 is 172,550 thousand, 173,383 thousand and 174,867 thousand, respectively. The earnings (loss) per ADS is presented solely for the convenience of the reader and does not represent a measure under IFRS. |
Segment Reporting | (s) Segment Reporting An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses. All operating segments’ operating results are reviewed regularly by the Company’s chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. The Company’s CODM has been identified as the Chief Executive Officer, who regularly reviews operating results to make decisions about allocating resources and assessing performance for the Company. Management has determined that the Company has two operating segments: Driver IC and Non-driver products. The CODM assesses the performance of the operating segments based on segment sales and segment profit and loss. There are no intersegment sales in the segment revenues reported to the CODM. Segment profit and loss is determined on a basis that is consistent with how the Company reports operating income (loss) in its consolidated statements of operations. Segment profit (loss) excludes income taxes and items in non-operating income (loss). The Company does not report segment asset information to the Company’s CODM. Consequently, no asset information by segment is presented. |
Noncontrolling Interests | (t) Noncontrolling Interests Noncontrolling interests are classified in the consolidated statements of profit or loss as part of profit (loss) for the period and the accumulated amount of noncontrolling interests as part of equity in the consolidated statements of financial position. If a change in ownership of a consolidated subsidiary results in loss of control and deconsolidation, any retained ownership interests are re-measured with the gain or loss reported in net earnings. |
Use of Judgments and Estimates | (u) Use of Judgments and Estimates The preparation of the consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Information about critical judgments, estimates and assumptions in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements is included in the following notes: 1. Valuation of inventory Inventories are stated at the lower of cost or net realizable value, and the Company uses judgment and estimate to determine the net realizable value of inventory at the end of each reporting period. Due to the rapid technological changes, the Company estimates the net realizable value of inventory for obsolescence and unmarketable items at the end of reporting period and then writes down the cost of inventories to net realizable value. The net realizable value of the inventory is mainly determined based on assumptions of future demand within a specific time horizon. 2. Impairment of non-financial assets other than goodwill In the process of evaluating the potential impairment of non-financial assets other than goodwill, the Company is required to make subjective judgments in determining the independent cash flows, useful lives, expected future revenue and expenses related to the specific asset groups. Any changes in these estimates based on changed economic conditions or business strategies could result in significant impairment charges or reversal in future years. 3. Recognition of deferred tax assets Deferred tax assets are recognized to the extent that it is probable that future taxable profits will be available against which those deferred tax assets can be utilized. Assessment of the realization of the deferred tax assets requires the Company’s subjective judgment and estimate, including the future revenue growth and profitability, the sources of taxable income, the amount of tax credits that can be utilized and feasible tax planning strategies. Changes in the economic environment, the industry trends and relevant laws and regulations may result in adjustments to the deferred tax assets. 4. Impairment of goodwill The assessment of impairment of goodwill requires the Company to make subjective judgment to determine the identified CGU, allocate the goodwill to relevant CGU and estimate the recoverable amount of relevant CGU. In the process of estimating the recoverable amount of relevant CGU, the Company is required to make subjective judgments in determining the discounted rate, the terminal growth rate, the independent cash flows, useful lives, expected future revenue and expenses related to the CGU. |
Application of new and revise_2
Application of new and revised IFRS as issued by the IASB (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Application of new and revised IFRS as issued by the IASB | |
Schedule of amendments to ifrs and new interpretations issued by the IASB effective for current year | Effective Date New, Revised or Amended Standards and Interpretations Announced by IASB Amendments to IFRS 4 “Extension of the Temporary Exemption from Applying IFRS 9” January 1, 2021 Amendments to IFRS 9, IAS39, IFRS7, IFRS 4 and IFRS 16 “Interest Rate Benchmark Reform—Phase 2” January 1, 2021 Amendments to IFRS 16 “Covid-19-Related Rent Concessions beyond June 30, 2021’’ April 1, 2021 |
Schedule of new and revised standards, amendments and interpretations in issue but not yet effective | Effective Date New, Revised or Amended Standards and Interpretations Announced by IASB Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets Between an Investor and Its Associate or Joint Venture” Effective date to be determined by IASB IFRS 17 “Insurance Contracts” January 1, 2023 Amendments to IAS 1 “Classification of Liabilities as Current or Non-current” January 1, 2023 Amendments to IFRS 17 “Insurance Contracts” January 1, 2023 Amendments to IAS 1 “Disclosure of Accounting Policies” January 1, 2023 Amendments to IAS 8 “Definition of Accounting Estimates” January 1, 2023 Amendments to IAS 12 “Deferred Tax related to Assets and Liabilities arising from a Single Transaction” January 1, 2023 Amendments to IAS 16 “Property, Plant and Equipment—Proceeds before Intended Use” January 1, 2022 Amendments to IAS 37 “Onerous Contracts—Cost of Fulfilling a Contract” January 1, 2022 Annual Improvements to IFRS Standards 2018–2020 January 1, 2022 Amendments to IFRS 3 “Reference to the Conceptual Framework” January 1, 2022 |
Significant accounting polici_3
Significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Significant accounting policies | |
Schedule of general information about Himax Technologies, Inc.'s subsidiaries | Following is general information about Himax Technologies, Inc.’s subsidiaries: Percentage of Ownership Jurisdiction of December 31, December 31, Investor Subsidiary Main activities Incorporation 2020 2021 Himax Technologies, Inc. Himax Technologies Limited (“Himax Taiwan”) IC design and sales ROC 100.00 % 100.00 % Himax Technologies, Inc. Himax Technologies Korea Ltd. IC design and sales South Korea 100.00 % 100.00 % Himax Technologies, Inc. Himax Technologies Japan Ltd. Sales Japan 100.00 % 100.00 % Himax Technologies, Inc. Himax Semiconductor (Hong Kong) Limited Investments Hong Kong 100.00 % 100.00 % Himax Technologies Limited Himax Technologies (Samoa), Inc. Investments Samoa 100.00 % 100.00 % Himax Technologies (Samoa), Inc. Himax Technologies (Suzhou) Co., Ltd. Sales and technical support PRC 100.00 % 100.00 % Himax Technologies (Samoa), Inc. Himax Technologies (Shenzhen) Co., Ltd. Sales and technical support PRC 100.00 % 100.00 % Himax Technologies Limited Himax Display, Inc. LCoS and MEMS design, manufacturing and sales ROC 82.68 % 83.54 % Himax Display, Inc. Integrated Microdisplays Limited LCoS design Hong Kong 82.68 % 83.54 % Himax Display, Inc. Himax Display (USA) Inc. LCoS and MEMS design, sales and technical support Delaware, USA 82.68 % 83.54 % Himax Technologies Limited Himax Analogic, Inc. IC design and sales ROC 98.62 % 98.62 % Himax Technologies, Inc. Himax Imaging, Inc. Investments Cayman Islands 100.00 % 100.00 % Himax Technologies Limited Himax Imaging, Ltd. (“Imaging Taiwan”) IC design and sales ROC 96.85 % 98.42 % Himax Imaging, Ltd. Himax Imaging Corp. IC design California, USA 96.85 % 98.42 % Himax Technologies Limited Himax Media Solutions, Inc. ASIC service ROC 99.22 % 99.22 % Himax Technologies Limited Harvest Investment Limited Investments ROC 100.00 % 100.00 % Himax Technologies Limited Liqxtal Technology Inc. LC Lens design and sales ROC 67.49 % 67.49 % Himax Technologies Limited Himax IGI Precision Ltd. 3D micro and nano structure mastering and prototype replication Delaware, USA 100.00 % 100.00 % Himax Technologies Limited Emza Visual Sense Ltd. Visual sensors and efficient machine vision algorithm Israel 100.00 % 100.00 % Himax Technologies Limited CM Visual Technology Corp. (1) Omniwide film products design and sales ROC 66.71 % 66.71 % Note (1): On October 30, 2020, Himax Technologies Limited acquired 66.71% of the shareholdings of CM Visual Technology Corp. (“CMVT”) and therefore, obtained control over CMVT. Refer to Note 5(c) for further details. |
Schedule of basic and diluted earnings per ordinary share | Basic and diluted earnings per ordinary share have been calculated as follows: Year Ended December 31, 2019 2020 2021 Profits (loss) attributable to Himax Technologies, Inc. stockholders (in thousands) $ (13,614) 47,134 436,896 Denominator for basic earnings per ordinary share: Weighted average number of ordinary shares outstanding (in thousands) 345,101 345,708 349,228 Basic earnings (loss) per ordinary share attributable to Himax Technologies, Inc. stockholders $ (0.04) 0.14 1.25 Basic earnings (loss) per ADS attributable to Himax Technologies, Inc. stockholders (2) $ (0.08) 0.27 2.50 Contingently issuable ordinary shares underlying the unvested RSUs and employee stock options granted to employees are included in the calculation of diluted earnings per ordinary share based on treasury stock method. Year Ended December 31, 2019 2020 2021 Profits (loss) attributable to Himax Technologies, Inc. stockholders (in thousands) $ (13,614) 47,134 436,896 Denominator for diluted earnings per ordinary share: Weighted average number of ordinary shares outstanding (in thousands) 345,101 345,708 349,228 Unvested RSUs (in thousands) (1) - - 505 Employee stock options (in thousands) (1) - 1,058 - 345,101 346,766 349,733 Diluted earnings (loss) per ordinary share attributable to Himax Technologies, Inc. stockholders $ (0.04) 0.14 1.25 Diluted earnings (loss) per ADS attributable to Himax Technologies, Inc. stockholders (2) $ (0.08) 0.27 2.50 Note (1): Since the Company had net loss for 2019, the unvested RSUs and employee stock options are not being considered with dilutive effect for the year. Note (2): As the Company’s ordinary shares have been quoted on the NASDAQ Global Select Market under the symbol “HIMX” in the form of ADSs and two ordinary shares represent one ADS with effect from August 10, 2009. The number of ADS equivalent outstanding is determined by dividing the number of ordinary shares by two. Therefore, the weighted average number of ADS equivalent outstanding used in basic earnings per ADS for 2019, 2020 and 2021 is 172,550 thousand, 172,854 thousand and 174,614 thousand, respectively. Additionally, the weighted average number of ADS equivalent outstanding used in diluted earnings per ADS for 2019, 2020 and 2021 is 172,550 thousand, 173,383 thousand and 174,867 thousand, respectively. The earnings (loss) per ADS is presented solely for the convenience of the reader and does not represent a measure under IFRS. |
Acquisition (Tables)
Acquisition (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Emza Visual Sense Ltd. [Member] | |
Disclosure of detailed information about business combination [line items] | |
Schedule of estimated fair value of the assets acquired and liabilities assumed at the date of acquisition | The following table summarizes the amounts of estimated fair value of the assets acquired and liabilities assumed at the date of acquisition. Fair value (in thousands) Recognized amounts of identifiable assets acquired and liabilities assumed: Cash $ 170 Current assets, other than cash 335 Property, plant and equipment 27 Deferred tax assets 1,445 Other intangible assets 8,545 Other current liabilities (2,706) Deferred tax liabilities (1,445) Total identifiable net assets acquired $ 6,371 |
CM Visual Technology Corp | |
Disclosure of detailed information about business combination [line items] | |
Schedule of estimated fair value of the assets acquired and liabilities assumed at the date of acquisition | The following table summarizes the amounts of estimated fair value of the assets acquired and liabilities assumed at the date of acquisition. Fair value (in thousands) Recognized amounts of identifiable assets acquired and liabilities assumed: Cash $ 7,982 Current assets, other than cash 2,602 Property, plant and equipment 1,906 Other intangible assets 704 Other current liabilities (3,181) Total identifiable net assets acquired 10,013 Noncontrolling interests (3,333) Total consideration paid $ 6,680 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Cash and Cash Equivalents | |
Schedule of cash and cash equivalents | December 31, December 31, 2020 2021 (in thousands) Cash, demand deposits and checking accounts $ 178,938 333,524 Time deposits with less than three months maturity date 6,000 2,500 $ 184,938 336,024 |
Financial Assets at Amortized_2
Financial Assets at Amortized Cost (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Financial Assets at Amortized Cost | |
Schedule of financial assets at amortized cost | December 31, December 31, 2020 2021 (in thousands) Time deposit with original maturities more than three months $ 8,682 26,013 |
Financial Assets at Fair Valu_3
Financial Assets at Fair Value Through Profit or Loss (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Financial Assets at Fair Value Through Profit or Loss | |
Summary of financial assets at fair value through profit or loss | Following is a summary of financial assets at fair value through profit or loss as of December 31, 2020 and 2021: December 31, December 31, 2020 2021 (in thousands) Money market fund $ 7,799 2,345 Equity securities-unlisted company 13,966 13,668 $ 21,765 16,013 Current $ 7,799 2,345 Non-current 13,966 13,668 $ 21,765 16,013 |
Accounts Receivable, net (Table
Accounts Receivable, net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Accounts Receivable, net | |
Schedule of accounts receivable, net | December 31, December 31, 2020 2021 (in thousands) Accounts receivable $ 243,816 410,140 Accounts receivable from related parties - 71 Less: Loss allowance (190) - $ 243,626 410,211 |
Schedule of analysis of expected credit losses | Analysis of expected credit losses which was measured based on the aforementioned method, was as follows: December 31, 2020 Loss Carrying allowance amount of Weighted for lifetime accounts average loss expected receivable rate credit (in thousands) (in thousands) Not past due $ 243,208 0 % $ - Past due within 30 days 36 0 % - Past due 31‑60 days 382 0 % - Past due 61‑90 days - 0 % - Past due 91‑120 days - 0%-6.32 % - Past due over 121 days - 100.00 % - $ 243,626 $ - December 31, 2021 Loss Carrying allowance amount of Weighted for lifetime accounts average loss expected receivable rate credit (in thousands) (in thousands) Not past due $ 408,415 0 % $ - Past due within 30 days 795 0 % - Past due 31‑60 days 924 0 % - Past due 61‑90 days 77 0 % - Past due 91‑120 days - 0 % - Past due over 121 days - 100.00 % - $ 410,211 $ - |
Summary of activity in the loss allowance | The activity in the loss allowance is as follows: Loss Allowance Balance at Amounts Beginning Charges to utilized / Balance at Period of year earnings write-offs end of year (in thousands) Year 2019 $ 290 67 (167) 190 Year 2020 $ 190 - - 190 Year 2021 $ 190 (190) - - |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Inventories | |
Schedule of inventories | December 31, December 31, 2020 2021 (in thousands) Finished goods $ 23,990 53,884 Work in process 63,025 107,355 Raw materials 21,346 36,963 Supplies 346 398 $ 108,707 198,600 |
Equity Method Investments (Tabl
Equity Method Investments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Equity Method Investments | |
Schedule of equity method investments in associates | Associates consisted of the following: December 31, 2020 December 31, 2021 Place of Incorporation Name of Principal and Carrying Holding Carrying Holding Associate Activities Operation amount % amount % (in thousands) (in thousands) Ganzin Technology Corp. Eye tracking chip and module Taipei, Taiwan $ 577 45.64 $ - 42.01 Iris Optronics Co., Ltd. E-paper manufacturing and sales Tainan, Taiwan 61 1.25 174 6.25 Viewsil Microelectronics (Kunshan) Limited IC design and sales Kunshan, China 2,621 49.00 2,671 49.00 Guangzhou Pixtalks Information Technology Co., Ltd. 3D structured light module Guangzhou, China 724 25.00 457 22.50 $ 3,983 $ 3,302 |
Schedule of amount recognized by the Company at its share of those associates | There is no individually significant associate for the Company. The following table summarized the amount recognized by the Company at its share of those associates: For the year ended December 31, 2019 2020 2021 (in thousands) The Company’s share of losses of associates $ (477) (638) (1,392) The Company’s share of other comprehensive income of associates $ 26 58 55 The Company’s share of total comprehensive income of associates $ (451) (580) (1,337) |
Other Intangible Assets (Tables
Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other Intangible Assets | |
Schedule of other intangible assets | Technology Software Others Total (in thousands) Cost Balance at January 1, 2020 $ 13,171 5,342 2,789 21,302 Acquisitions through business combinations - 41 663 704 Additions - 87 - 87 Transfer from other current assets - 21 - 21 Disposals - - - - Effect of exchange rate changes - 15 (8) 7 Balance at December 31, 2020 13,171 5,506 3,444 22,121 Additions - 468 - 468 Disposals - (332) - (332) Effect of exchange rate changes - 22 (21) 1 Balance at December 31, 2021 $ 13,171 5,664 3,423 22,258 Accumulated Amortization Balance at January 1, 2020 $ 7,681 4,615 256 12,552 Amortization for the year 1,105 464 154 1,723 Transfer from other current assets - - - - Disposals - - - - Effect of exchange rate changes - 13 (43) (30) Balance at December 31, 2020 8,786 5,092 367 14,245 Amortization for the year 1,105 452 181 1,738 Disposals - (332) - (332) Effect of exchange rate changes - 21 (31) (10) Balance at December 31, 2021 $ 9,891 5,233 517 15,641 Carrying amounts At December 31, 2020 $ 4,385 414 3,077 7,876 At December 31, 2021 $ 3,280 431 2,906 6,617 |
Schedule of estimated useful lives of other intangible assets | Other intangible assets were amortized on a straight-line basis over their estimated useful lives as follows: Technology 7 years Software 2-10 years Others (except for trademark) 7-15 years |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment | |
Schedule of property, plant and equipment | (a) Prepayments for purchase Research Office of equipment Building and furniture and and development and construction Land improvements Machinery equipment equipment Others in progress Total (in thousands) Cost Balance at January 1, 2020 $ 41,828 75,357 74,326 44,638 13,666 39,248 564 289,627 Acquisitions through business combinations - - 1,476 189 19 222 - 1,906 Additions - 46 1,031 1,189 857 9,952 840 13,915 Transfers - - 386 178 - (706) (552) (694) Disposals - - (2,350) (730) - (15,720) - (18,800) Effect of exchange rate changes - - 87 23 115 252 - 477 Balance at December 31, 2020 41,828 75,403 74,956 45,487 14,657 33,248 852 286,431 Additions - 60 1,705 4,565 731 13,307 447 20,815 Transfers - - 783 69 - - (852) - Disposals - (79) (5) (895) (2,286) (106) - (3,371) Effect of exchange rate changes - (1) 2 1 25 (7) - 20 Balance at December 31, 2021 $ 41,828 75,383 77,441 49,227 13,127 46,442 447 303,895 Accumulated Depreciation Balance at January 1, 2020 $ - 20,124 54,215 36,519 10,986 28,845 - 150,689 Depreciation for the year - 4,523 5,644 3,469 994 7,243 - 21,873 Transfers - - (1) - - 102 - 101 Disposals - - (2,350) (725) - (15,604) - (18,679) Effect of exchange rate changes - - 68 20 96 189 - 373 Balance at December 31, 2020 - 24,647 57,576 39,283 12,076 20,775 - 154,357 Depreciation for the year - 4,232 5,824 2,551 1,048 5,949 - 19,604 Disposals - (79) (5) (895) (2,286) (89) - (3,354) Effect of exchange rate changes - - - 2 21 29 - 52 Balance at December 31, 2021 $ - 28,800 63,395 40,941 10,859 26,664 - 170,659 Carrying amounts At December 31, 2020 $ 41,828 50,756 17,380 6,204 2,581 12,473 852 132,074 At December 31, 2021 $ 41,828 46,583 14,046 8,286 2,268 19,778 447 133,236 |
Schedule of estimated useful lives of property plant and equipment | Buildings 25 years Building improvements 4-16 years Machinery 4-10 years Research and development equipment 2-6 years Office furniture and equipment 3-8 years Others 2-15 years |
Summary of lease liabilities | December 31, December 31, 2020 2021 (in thousands) Current portion (classified under other current liabilities) $ 3,068 4,602 Non-current portion (classified under other non-current liabilities) 7,386 11,258 $ 10,454 15,860 |
Summary of additional lease information | Year ended December 31, 2019 2020 2021 (in thousands) Expenses relating to short-term leases $ 313 258 162 Expenses relating to low-value asset leases $ 143 230 342 Expenses relating to variable lease payments not included in the measurement of lease liabilities $ 1,631 2,018 1,874 |
Summary of reconciliation of lease liabilities to cash flows arising from financing activities | The reconciliation of lease liabilities to cash flows arising from financing activities was as follows: Year ended December 31, 2020 2021 (in thousands) Balance at beginning of year $ 4,220 10,454 Change from financing activities: Payment of lease liabilities (2,608) (4,668) Total change from financing activities (2,608) (4,668) Other changes: New lease 8,474 11,247 Interest expense 155 213 Interest paid (155) (213) Effect of exchange rate changes 368 (1,173) Total liability-related other changes 8,842 10,074 Balance at end of year $ 10,454 15,860 |
Other Current Liabilities (Tabl
Other Current Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other Current Liabilities | |
Schedule of other current liabilities | December 31, December 31, 2020 2021 (in thousands) Accrued payroll and related expenses $ 10,681 18,515 Accrued mask, mold fees and other expenses for RD 11,503 13,379 Payable for purchases of building and equipment 1,599 3,481 Accrued software maintenance 4,531 4,359 Allowance for sales discounts 809 1,570 Lease liabilities 3,068 4,602 Accrued insurance, welfare expenses, professional fee 13,920 13,638 $ 46,111 59,544 |
Schedule of activity in the sales discounts | The activity in the sales discounts is as follows: Allowance for sales discounts Balance at Balance at beginning Charges to Amounts end of Period of year earnings utilized year (in thousands) Year 2019 $ 494 6,448 (6,046) 896 Year 2020 $ 896 8,791 (8,878) 809 Year 2021 $ 809 13,632 (12,871) 1,570 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Short-Term Borrowings | |
Schedule of short-term borrowing | December 31, December 31, 2020 2021 (in thousands) Secured borrowings $ 104,000 151,400 Unused credit lines $ 280,921 277,362 Interest rate-secured borrowings 0.33 %~ 0.40 % 0.32 %~ 0.38 % |
Schedule of reconciliation of liabilities to cash flows arising from financing activities | The reconciliation of borrowings to cash flows arising from financing activities was as follows: Unsecured Secured borrowings borrowings (in thousands) January 1, 2020 $ 57,339 164,000 Change from financing activities: Proceeds from borrowings 208,137 278,000 Repayments of borrowings (265,355) (338,000) Total changes from financing activities (57,218) (60,000) Other changes: Effect of exchange rate changes (121) - Total liability-related other changes (121) - December 31,2020 - 104,000 Change from financing activities: Proceeds from borrowings 15,000 611,600 Repayments of borrowings (15,000) (564,200) Total changes from financing activities - 47,400 December 31,2021 $ - 151,400 |
Long-Term Borrowings (Tables)
Long-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Long-Term Borrowings | |
Schedule of long-term borrowings | December 31, December 31, 2020 2021 (in thousands) Unsecured borrowings $ 58,500 52,500 Less: current portion (6,000) (6,000) Total $ 52,500 46,500 Unused long-term credit lines $ 40,000 40,000 Interest rate 0.68819 %~ 0.92112 % 0.62467 %~ 0.73055 % Duration 2020/8/4~ 2030/9/2 2020/8/4~ 2030/9/2 |
Schedule of reconciliation of borrowings to cash flows arising from financing activities | Year ended December 31, 2020 2021 (in thousands) Balance at beginning of year $ - 58,500 Change from financing activities: Proceeds from borrowings 60,000 - Repayments of borrowings (1,500) (6,000) Total changes from financing activities 58,500 (6,000) Balance at end of year $ 58,500 52,500 |
Employee benefits (Tables)
Employee benefits (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Employee benefits | |
Schedule of reconciliations of defined benefit obligation at present value and plan asset at fair value | Reconciliations of defined benefit obligation at present value and plan asset at fair value are as follows: December 31, December 31, 2020 2021 (in thousands) Present value of the defined benefit obligations $ 3,562 3,489 Fair value of plan assets (3,952) (4,065) $ (390) (576) Net defined benefit liabilities 47 - Prepaid pension costs (437) (576) $ (390) (576) |
Schedule of movements in present value of the defined benefit obligations | (ii) Movements in present value of the defined benefit obligations Year ended December 31, 2020 2021 (in thousands) Balance at beginning of year $ 3,142 3,562 Service costs 6 - Interest expense 27 15 Remeasurements loss (gain): Actuarial loss (gain) arising from: -Changes in demographic assumptions 91 32 -Experience adjustment 56 116 -Change in financial assumptions 196 (253) Effect of changes in exchange rates 44 17 Balance at end of year $ 3,562 3,489 |
Schedule of movements in the fair value of plan assets | (iii) Movements in the fair value of plan assets Year ended December 31, 2020 2021 (in thousands) Balance at beginning of year $ 3,730 3,952 Interest income 31 17 Remeasurements gain : -Return on plan assets excluding interest income 129 60 Contributions paid by the employer 15 20 Effect of changes in exchange rate 47 16 Balance at end of year $ 3,952 4,065 |
Schedule of expenses recognized in profit or loss | (iv) Expenses recognized in profit or loss Year ended December 31, 2019 2020 2021 (in thousands) Current service costs $ 26 6 - Interest income (19) (4) (2) $ 7 2 (2) Cost of revenues $ 6 6 6 Research and development 1 (5) (8) General and administrative - 1 - Sales and marketing - - - $ 7 2 (2) |
Schedule of remeasurement of net defined benefit liability recognized in other comprehensive income | (v) Remeasurement of net defined benefit liability recognized in other comprehensive income Year ended December 31, 2020 2021 (in thousands) Balance at beginning of year $ (60) 116 Recognized during the period 176 (138) Balance at end of year $ 116 (22) |
Schedule of principal actuarial assumptions | The principal actuarial assumptions were as follows: December 31, December 31, 2020 2021 Discount rate 0.42 % 0.82%-0.85 % Rate of increase in compensation levels 3.00 % 3.00 % |
Schedule of sensitivity analysis | Reasonably possible changes at December 31, 2020 and 2021 to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below. December 31, 2020 December 31, 2021 + 0.5% - 0.5% + 0.5% ‑ 0.5% (in thousands) Discount rate (306) 339 (290) 319 Rate of increase in compensation levels 328 (300) 310 (285) |
Schedule of cash award expenses related to tax effects | The amounts of cash award expenses included in applicable costs of revenues and expense categories and related tax effects are summarized as follows: Year ended December 31, 2021 (in thousands) Cost of revenues $ 511 Research and development 5,876 General and administrative 678 Sales and marketing 1,223 Total compensation recognized in income $ 8,288 Income tax benefit $ 1,444 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | |
Schedule of share-based compensation expenses | The amounts of share-based compensation expenses included in applicable costs of revenues and expense categories and related tax effects are summarized as follows: Year ended December 31, 2019 2020 2021 (in thousands) Cost of revenues $ 9 87 682 Research and development 339 4,467 17,662 General and administrative 50 368 2,367 Sales and marketing 59 603 3,163 Total compensation recognized in income $ 457 5,525 23,874 Income tax benefit $ 89 1,176 4,896 |
Schedule of RSUs activity under the long-term incentive plan | RSUs activity under the long-term incentive plan during the periods indicated is as follows: Number of Weighted Underlying Average Grant Shares for RSUs Date Fair Value Balance at January 1, 2019 60,338 $ 7.98 Vested (38,878) 8.29 Forfeited (2,967) 7.98 Balance at December 31, 2019 18,493 7.34 Granted 1,402,714 3.44 Vested (1,392,355) 3.47 Forfeited (5,963) 6.57 Balance at December 31, 2020 22,889 3.88 Granted 2,604,545 10.39 Vested (2,237,499) 10.37 Forfeited (3,415) 4.38 Balance at December 31, 2021 386,520 10.17 |
Schedule of allocation of compensation expenses and related tax effects from the RSUs granted to employees under the long-term incentive plan | The allocation of compensation expenses and related tax effects from the RSUs granted to employees under the long-term incentive plan are summarized as follows: Year ended December 31, 2019 2020 2021 (in thousands) Cost of revenues $ - 70 676 Research and development 86 3,924 17,592 General and administrative 26 319 2,343 Sales and marketing 19 520 3,149 Total compensation recognized in income $ 131 4,833 23,760 Income tax benefit $ 30 1,044 4,896 |
Schedule of valuation assumptions | 2019 plan Valuation assumptions: Expected dividend yield 3.5 % Expected volatility 51.96%-57.79 % Expected term (years) 1-1.5 Risk-free interest rate 1.69%-1.75 % |
Schedule of stock option activity | Stock option activity during the periods indicated is as follows: Weighted Weighted average average remaining Number exercise contractual of Units price term Granted 2,226,690 $ 2.27 1.75 Exercised - - Forfeited - - Balance at December 31, 2019 2,226,690 2.27 1.5 Granted 163,500 3.05 0.88 Exercised (1,574,869) 2.32 Forfeited (236,853) 2.30 Balance at December 31, 2020 578,468 2.36 0.54 Exercised (524,387) 2.37 Expired (54,081) 2.27 Balance at December 31, 2021 - - - Exercisable at December 31, 2021 - - - |
Himax Imaging [Member] | |
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | |
Schedule of valuation assumptions | 2016 plan Valuation assumptions: Expected dividend yield 0 % Expected volatility 38.04 % Expected term (years) 3.125 Risk-free interest rate 0.50 % |
Schedule of stock option activity | Stock option activity during the periods indicated is as follows: Weighted Weighted average average remaining Number exercise contractual of shares price term Balance at January 1, 2019 546,000 $ 0.9139 1.0 Granted - - Exercised - - Forfeited (25,000) 0.9139 Expired (521,000) 0.9139 Balance at December 31, 2019 - - - Exercisable at December 31, 2019 - - |
Imaging Taiwan | |
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | |
Schedule of valuation assumptions | 2016 plan Valuation assumptions: Expected dividend yield 0 % Expected volatility 38.04 % Expected term (years) 3.125 Risk-free interest rate 0.50 % |
Schedule of stock option activity | Stock option activity during the periods indicated is as follows: Weighted Weighted average average remaining Number exercise contractual of shares price term Balance at January 1, 2019 1,359,000 $ 0.9139 1.0 Granted - - Exercised - - Forfeited (209,000) 0.9139 Expired (1,135,000) 0.9139 Balance at December 31, 2019 15,000 0.9139 - Expired (15,000) 0.9139 Balance at December 31, 2020 - - - Exercisable at December 31, 2020 - - |
Himax Display | |
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | |
Schedule of valuation assumptions | 2015 plan Valuation assumptions: Expected dividend yield 0 % Expected volatility 33.52 % Expected term (years) 3.125 Risk-free interest rate 0.65 % |
Schedule of stock option activity | Stock option activity during the periods indicated is as follows: Weighted Weighted average average remaining Number exercise contractual of shares price term Balance at January 1, 2019 1,911,000 $ 1.986 0.75 Granted - - Exercised - - Forfeited (22,200) 1.986 Expired (1,888,800) 1.986 Balance at December 31, 2019 - - - Exercisable at December 31, 2019 - - |
CM Visual Technology Corp | |
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | |
Schedule of valuation assumptions | 2021 plan Valuation assumptions: Expected dividend yield 0% Expected volatility 43.82% Expected term (years) 3.125 Risk-free interest rate 0.223% |
Schedule of stock option activity | Stock option activity during the periods indicated is as follows: Weighted Weighted average average remaining Number exercise contractual of shares price term Balance at January 1, 2021 - $ - Granted 2,791,000 0.36 Exercised - - Forfeited (120,000) 0.36 Balance at December 31, 2021 2,671,000 0.36 3.5 Exercisable at December 31, 2021 - - |
Liqxtal Technology Inc | |
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | |
Schedule of valuation assumptions | 2021 plan Valuation assumptions: Expected dividend yield 0% Expected volatility 30.06% Expected term (years) 1.25 Risk-free interest rate 0.107% |
Schedule of stock option activity | Stock option activity during the periods indicated is as follows: Weighted Weighted average average remaining Number exercise contractual of shares price term Balance at January 1, 2021 - $ - Granted 1,000,000 0.65 Exercised - - Forfeited (90,000) 0.65 Balance at December 31, 2021 910,000 0.65 1.0 Exercisable at December 31, 2021 - - |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Equity | |
Schedule of balance of additional paid-in capital | Balance of additional paid-in capital as of December 31, 2020 and 2021 were as follows: December 31, December 31, 2020 2021 (in thousands) From ordinary shares $ 93,341 93,341 From treasury shares 6,422 6,911 From share-based compensation 7,389 8,051 From share of changes in equities of associates 141 538 $ 107,293 108,841 |
Schedule of changes in accumulated other comprehensive income, net of tax | Changes in accumulated other comprehensive income, net of tax, are as follows: Unrealized Defined Accumulated Foreign gains benefit other currency (losses) on pension comprehensive translation securities plans income (in thousands) Beginning balance, January 1, 2019 $ 249 (906) 108 (549) Exchange differences arising on translation of foreign operations (545) - - (545) Changes in fair value of financial assets - (30) - (30) Remeasurement of defined benefit pension plans - - 172 172 Ending balance, December 31, 2019 (296) (936) 280 (952) Exchange differences arising on translation of foreign operations 512 - - 512 Changes in fair value of financial assets - 67 - 67 Remeasurement of defined benefit pension plans - - (175) (175) Ending balance, December 31, 2020 216 (869) 105 (548) Exchange differences arising on translation of foreign operations (72) - - (72) Changes in fair value of financial assets - (179) - (179) Remeasurement of defined benefit pension plans - - 133 133 Ending balance, December 31, 2021 $ 144 (1,048) 238 (666) |
Schedule of noncontrolling interest | (e) Noncontrolling interest Year ended December 31, 2019 2020 2021 (in thousands) Balance at the beginning of year $ (4,261) (1,743) 5,023 Equity attributable to non-controlling interests Loss for the year (2,570) (1,974) (2,961) Transfer of financial liability to noncontrolling interests 5,071 - - Changes in fair value of financial assets (5) (2) (2) Remeasurement of defined benefit pension plans 17 (1) 5 Share-based compensation expenses 5 8 38 New shares issued by subsidiaries - 8,695 - Purchase of subsidiaries shares from noncontrolling interest - - 175 Exchange differences arising on translation of foreign operations - 44 - Declaration of cash dividends - (4) (20) Balance at the end of year $ (1,743) 5,023 2,258 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Taxes | |
Schedule of income tax expense (benefit) recognized in profit or loss | (a) Income tax expense (benefit) recognized in profit or loss for the years ended December 31, 2019, 2020 and 2021 consists of the following: Year ended December 31, 2019 2020 2021 (in thousands) Current tax expense Current period $ 1,461 13,599 102,297 Adjustment for prior periods (126) (363) 12 1,335 13,236 102,309 Deferred tax expense Origination and reversal of temporary differences 247 370 310 Investment tax credits and operating loss carryforward (1,166) (1,894) 8,038 (919) (1,524) 8,348 Total income tax expense $ 416 11,712 110,657 |
Schedule of income taxes expense (benefit) recognized directly in other comprehensive income | (b) Income taxes expense (benefit) recognized directly in other comprehensive income for the years ended December 31, 2019, 2020 and 2021 consist of the following: Year ended December 31, 2019 2020 2021 (in thousands) Items that will not be reclassified to profit or loss: Remeasurements of defined benefit pension plans $ 25 (38) 27 |
Schedule of reconciliation of the expected income tax expense computed based on the ROC statutory income tax rate, compared with the actual income tax expense as reported in the consolidated statements of profit or loss | (c) Reconciliation of the expected income tax expense computed based on the ROC statutory income tax rate of 20% compared with the actual income tax expense as reported in the consolidated statements of profit or loss for the years ended December 31, 2019, 2020 and 2021 are summarized as follows: Years ended December 31, 2019 2020 2021 Rate Amount Rate Amount Rate Amount (in thousands) (in thousands) (in thousands) Profit (loss) before income taxes $ (15,768) $ 56,872 $ 544,592 Income tax expense calculated at the statutory rate 20.0 % (3,154) 20.0 % 11,374 20.0 % 108,919 Tax on undistributed earnings 8.0 % (1,261) 3.0 % 1,727 4.2 % 22,648 Tax benefit resulting from setting aside legal reserve from prior year’s income 0.3 % (51) - - - (267) Tax benefit resulting from offsetting prior year’s undistributed earning tax with current year’s loss 2.8 % (443) - - - - Tax benefit resulting from actual investment from prior year’s undistributed earnings - - - - - (161) Increase in tax credits 17.1 % (2,698) (12.1) % (6,895) (3.3) % (17,934) Effect of change of unrecognized deductible temporary differences, tax losses carryforwards and investment tax credits (40.9) % 6,455 8.7 % 4,954 0.7 % 3,668 Net of non-taxable income and non-deductible expense (2.2) % 343 0.2 % 129 (2.0) % (10,680) Changes in unrecognized tax benefits related to prior year tax positions, net of its impact to tax-exempted income (1.2) % 194 (1.2) % (709) 0.5 % 2,763 Foreign tax rate differential (3.5) % 548 1.5 % 881 0.2 % 837 Variance from audits, amendments and examinations of prior years’ income tax filings (2.3) % 368 (0.6) % (363) - 440 Others (0.7) % 115 1.1 % 614 - 424 Income tax expense $ 416 $ 11,712 $ 110,657 Effective tax rate (2.6) % 20.6 % 20.3 % |
Schedule of components of deferred tax assets and deferred tax liabilities | (d) As of December 31, 2020 and 2021, the components of deferred tax assets and deferred tax liabilities were as follows: December 31, December 31, 2020 2021 (in thousands) Deferred tax assets: Inventory $ 4,426 2,955 Tax credit carryforwards 7,780 - Operating loss carryforward-statutory tax 1,013 755 Accrued compensated absences 735 901 Allowance for sales discounts 411 720 Depreciation 561 601 Unrealized foreign exchange loss 179 - Others 634 1,259 $ 15,739 7,191 Deferred tax liabilities: Acquired intangible assets $ (1,014) (756) Remeasurement of defined benefit plans (107) (138) Unrealized foreign exchange gain (17) (71) $ (1,138) (965) |
Schedule of changes in deferred tax assets and liabilities | (e) Changes in deferred tax assets and liabilities were as follows: Recognized Recognized Recognized in other Recognized in other January 1, in profit or comprehensive December in profit or comprehensive December 2020 loss income 31, 2020 loss income 31, 2021 (in thousands) Inventory $ 5,089 (663) - 4,426 (1,471) - 2,955 Tax credit carryforwards 5,645 2,135 - 7,780 (7,780) - - Operating loss carryforward 1,254 (241) - 1,013 (258) - 755 Accrued compensated absences 588 147 - 735 166 - 901 Allowance for sales discounts 576 (165) - 411 309 - 720 Depreciation 521 40 - 561 40 - 601 Unrealized foreign exchange loss 102 60 - 162 (233) - (71) Remeasurement of defined benefit plans (139) (6) 38 (107) (4) (27) (138) Acquired intangible assets (1,255) 241 - (1,014) 258 - (756) Others 658 (24) - 634 625 - 1,259 Total $ 13,039 1,524 38 14,601 (8,348) (27) 6,226 |
Schedule of unrecognized deferred tax assets | (f) Unrecognized Deferred Tax Assets Gross amount of deferred tax assets have not been recognized in respect of the following items. December 31, December 31, 2020 2021 (in thousands) Unused tax credits $ 1,560 1,560 Unused operating loss carryforwards-statutory tax 241,371 246,023 Unused operating loss carryforwards-undistributed earnings tax 261,659 283,578 Others 29,897 30,364 $ 534,487 561,525 |
Schedule of unrecognized deferred tax assets of unused operating loss carry forwards | As of December 31, 2021, the expiration period for abovementioned unrecognized deferred tax assets of unused operating loss carryforwards for statutory tax were as follows: Unrecognized Deductible amount deferred tax assets Expiration year (in thousands) Taiwan operations $ 103,870 $ 20,774 2022~2026 107,909 21,582 2027~2031 Hong Kong operations 1,818 150 Indefinitely US operations 12,451 3,510 2024~2041 Israel operations 19,975 4,594 Indefinitely $ 50,610 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Financial Instruments | |
Schedule of financial assets | (i) Financial assets December 31, December 31, 2020 2021 (in thousands) Financial assets measured at fair value through profit or loss (including current and noncurrent) $ 21,765 16,013 Financial assets measured at fair value through other comprehensive income 742 410 Measured at amortized cost: Cash and cash equivalents 184,938 336,024 Financial assets at amortized cost 8,682 26,013 Accounts receivable and other receivables (including related parties) 252,162 423,357 Restricted deposit (including current and noncurrent) 104,141 154,136 Refundable deposits (including current and noncurrent) 12,144 231,415 Subtotal 562,067 1,170,945 Total $ 584,574 1,187,368 |
Schedule of financial liabilities | (ii) Financial liabilities December 31, December 31, 2020 2021 (in thousands) Measured at amortized cost: Short-term secured borrowings $ 104,000 151,400 Accounts payables and other payables (including related parties) 222,739 305,755 Long-term unsecured borrowings (including current portion) 58,500 52,500 Lease liabilities (including current and noncurrent) 10,454 15,860 Guarantee deposits 5,765 55,215 Total $ 401,458 580,730 |
Schedule of contractual maturities of financial liabilities, including estimated interest payments of short-term borrowings. | The following, except for payables (including related parties) that are repayable within a year, are the contractual maturities of financial liabilities, including estimated interest payments of unsecured borrowings, secured borrowings and lease liabilities. Contractual Within 6 6 ‑ 12 Over 5 (in thousands) cash flows months months 1 ‑ 2 years 2 ‑ 5 years years December 31, 2020 Non-derivative financial liabilities Short-term secured borrowings $ 104,106 104,106 - - - - Long-term unsecured borrowings (including current portion) 60,684 3,216 3,209 6,379 18,862 29,018 Lease liabilities 10,725 1,600 1,603 4,538 2,984 - Guarantee deposits 5,765 5,765 - - - - $ 181,280 114,687 4,812 10,917 21,846 29,018 December 31, 2021 Non-derivative financial liabilities Short-term secured borrowings $ 151,601 111,582 40,019 - - - Long-term unsecured borrowings (including current portion) 54,015 3,167 3,159 6,287 18,624 22,778 Lease liabilities 16,174 2,460 2,298 3,881 7,513 22 Guarantee deposits 55,215 1,165 - 5,840 48,210 - $ 277,005 118,374 45,476 16,008 74,347 22,800 |
Schedule of company's significant exposure to foreign currency risk | The Company’s significant exposure to foreign currency risk was as follows: (in thousands) December 31, 2020 December 31, 2021 Foreign Exchange Functional Foreign Exchange Functional currency rate currency currency rate currency Financial assets Monetary items NTD 155,418 28.48 5,457 447,596 27.68 16,170 CNY 35,630 6.5428 5,461 36,450 6.3941 5,701 Financial liabilities Monetary items NTD 1,084,594 28.48 38,083 3,450,959 27.68 124,672 JPY 632,215 103.0786 6,133 1,459,700 115.0936 12,683 |
Schedule of fair value hierarchy | December 31, 2020 Carrying Fair Value (in thousands) Amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value through profit or loss Money market fund $ 7,799 7,799 - - 7,799 Equity securities-unlisted company 13,966 - - 13,966 13,966 Subtotal 21,765 7,799 - 13,966 21,765 Financial assets measured at fair value through other comprehensive income Equity securities-unlisted company 742 - - 742 742 Total $ 22,507 7,799 - 14,708 22,507 December 31, 2021 Carrying Fair Value (in thousands) Amount Level 1 Level 2 Level 3 Total Financial assets measured at fair value through profit or loss Money market fund $ 2,345 2,345 - - 2,345 Equity securities-unlisted company 13,668 - - 13,668 13,668 Subtotal 16,013 2,345 - 13,668 16,013 Financial assets measured at fair value through other comprehensive income Equity securities-unlisted company 410 - - 410 410 Total $ 16,423 2,345 - 14,078 16,423 |
Schedule of movement in financial assets included in Level 3 of fair value hierarchy | Financial assets Financial assets at fair value at fair value through other through profit or comprehensive (in thousands) loss income Total January 1, 2020 $ 13,500 709 14,209 Disposal-capital reduction of investment - (32) (32) Recognized in other comprehensive income - 65 65 Recognized in profit or loss 466 - 466 December 31, 2020 $ 13,966 742 14,708 Financial assets Financial assets at fair value at fair value through other through profit or comprehensive (in thousands) loss income Total January 1, 2021 $ 13,966 742 14,708 Disposal-capital reduction of investment - (151) (151) Recognized in other comprehensive income - (181) (181) Recognized in profit or loss (298) - (298) December 31, 2021 $ 13,668 410 14,078 |
Financial Risk Management (Tabl
Financial Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Financial Risk Management | |
Schedule of sales percentage from significant customer | The Company depends on two customers for majority of its revenues. The Company’s sales to these two customers as a percentage of revenues are as follows: Year Ended December 31, 2019 2020 2021 Customer A and its affiliates 29.50% 32.60% 32.10% Customer C 5.60% 12.70% 19.10% |
Schedule of accounts receivable percentage from significant customers | The percentage of the Company’s accounts receivable accounted by customers, those representing more than 10% of total accounts receivable balance, is summarized as follows: December 31, December 31, 2020 2021 Customer A and its affiliates 36.3% 39.0% Customer C 13.6% 12.1% |
Capital management (Tables)
Capital management (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Capital management | |
Schedule of capital management | There were no changes in the Company’s approach to capital management during the year ended December 31, 2021. Neither the Company nor its subsidiaries are subject to externally imposed capital managements. December 31, December 31, 2020 2021 (in thousands) Total liabilities $ 424,619 731,212 Less: cash and cash equivalents 184,938 336,024 $ 239,681 395,188 Equity attributable to owners of Himax Technologies, Inc. $ 480,176 869,724 |
Related-party Transactions (Tab
Related-party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Related-party Transactions | |
Schedule of transactions between related parties | Sales and accounts receivable Year ended December 31, 2019 2020 2021 (in thousands) Sales of goods Other related parties $ - - 125 December 31, 2020 2021 (in thousands) Accounts receivable Other related parties $ - 71 Year ended December 31, 2019 2020 2021 (in thousands) Purchase of raw materials CMMT $ - 663 3,469 Other related parties - 26 63 $ - 689 3,532 December 31, 2020 2021 (in thousands) Accounts payable CMMT $ 1,530 233 Other related parties 38 32 $ 1,568 265 Year ended December 31, 2019 2020 2021 (in thousands) Revenue from miscellaneous service Associates $ - - 63 Other related parties - - 3 $ - - 66 Technical service fee Viewsil $ 1,800 1,400 1,400 Miscellaneous fee CMMT $ - 84 791 Associates - - 4 $ - 84 795 December 31, 2020 2021 (in thousands) Other receivable Associates $ - 14 Other related parties - 3 $ - 17 Other payable Viewsil $ 2,480 1,400 Other related parties 92 241 $ 2,572 1,641 |
Schedule of compensation to key management personnel | The compensation to key management personnel for the years ended December 31, 2019, 2020 and 2021 were as follows: Year ended December 31, 2019 2020 2021 (in thousands) Short-term employee benefits $ 822 884 1,068 Post-employment benefits 7 9 12 Share-based compensation 14 41 671 $ 843 934 1,751 |
Pledged assets (Tables)
Pledged assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Pledged assets | |
Schedule of pledged assets | December 31, December 31, Pledged assets Pledged to secure 2020 2021 (in thousands) Restricted cash and time deposit (1) Short-term secured borrowings $ 104,000 151,400 Restricted time deposits (1) For foundry capacities - 2,700 Restricted time deposits (1) For customs duties 141 36 Land (2) Long-term unsecured borrowings 27,500 27,500 Building and improvements (2) Long-term unsecured borrowings 43,616 40,310 $ 175,257 221,946 Note (1): The pledged assets are booked as restricted deposits and classified as current or noncurrent by its liquidity. Note (2): Guarantee and collateral for long-term unsecured borrowings. |
Segment, Product and Geograph_2
Segment, Product and Geographic Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Segment, Product and Geographic Information | |
Schedule of segment reporting | The Company has two operating segments: Driver IC and Non-driver Products. The Driver IC segment generally is engaged in the design, research, development and sale of displays driver for large-sized TFT-LCD panels, which are used in televisions and desktop monitors, and displays driver for small and medium-sized TFT-LCD panels, which are used in mobile handsets and consumer electronics products. The Non-driver segment primarily is engaged in the design, research, manufacturing and sale of non-driver products, such as timing controllers, 3D Sensing Solution, LCoS, CMOS Image Sensors and WLO. Year Ended December 31, 2019 Non-driver Consolidated Driver IC products Total (in thousands) Segment revenues $ 544,727 127,108 671,835 Segment operating income (loss) $ 29,070 (47,377) (18,307) Non operating income, net 2,539 Consolidated loss before income taxes $ (15,768) Significant noncash items: Share-based compensation $ 221 236 457 Depreciation and amortization $ 5,511 18,888 24,399 Year Ended December 31, 2020 Non-driver Consolidated Driver IC products Total (in thousands) Segment revenues $ 756,522 130,760 887,282 Segment operating income (loss) $ 98,687 (40,761) 57,926 Non operating loss, net (1,054) Consolidated profit before income taxes $ 56,872 Significant noncash items: Share-based compensation $ 481 282 763 Depreciation and amortization $ 5,959 17,637 23,596 Year Ended December 31, 2021 Non-driver Consolidated Driver IC products Total (in thousands) Segment revenues $ 1,361,442 185,655 1,547,097 Segment operating income (loss) $ 551,943 (6,922) 545,021 Non operating loss, net (429) Consolidated profit before income taxes $ 544,592 Significant noncash items: Share-based compensation $ 424 276 700 Depreciation and amortization $ 5,598 15,744 21,342 |
Schedule of segment revenues in geographic region | The following tables summarize information pertaining to the segment revenues from customers in different geographic region (based on customer’s headquarter location): For the year ended December 31, 2019 Non-driver Consolidated Driver IC products Total (in thousands) China $ 421,729 50,643 472,372 Taiwan 90,971 38,286 129,257 Other Asia Pacific (Philippines, Korea and Japan) 31,861 36,918 68,779 Europe and America 166 1,261 1,427 $ 544,727 127,108 671,835 For the year ended December 31, 2020 Non-driver Consolidated Driver IC products Total (in thousands) China $ 643,527 63,475 707,002 Taiwan 88,001 35,179 123,180 Other Asia Pacific (Philippines, Korea and Japan) 24,964 31,231 56,195 Europe and America 30 875 905 $ 756,522 130,760 887,282 For the year ended December 31, 2021 Non-driver Consolidated Driver IC products Total (in thousands) China $ 1,149,442 111,656 1,261,098 Taiwan 167,728 51,378 219,106 Other Asia Pacific (Philippines, Korea and Japan) 44,272 21,912 66,184 Europe and America - 709 709 $ 1,361,442 185,655 1,547,097 |
Schedule of segment revenues from major product lines | The following tables summarize information pertaining to the segment revenues from major product lines: For the year ended December 31, 2019 Non-driver Consolidated Driver IC products Total (in thousands) Display drivers for large-sized applications $ 237,276 - 237,276 Display drivers for small and medium-sized applications 307,451 - 307,451 Non-driver products - 127,108 127,108 $ 544,727 127,108 671,835 For the year ended December 31, 2020 Non-driver Consolidated Driver IC products Total (in thousands) Display drivers for large-sized applications $ 240,789 - 240,789 Display drivers for small and medium-sized applications 515,733 - 515,733 Non-driver products - 130,760 130,760 $ 756,522 130,760 887,282 For the year ended December 31, 2021 Non-driver Consolidated Driver IC products Total (in thousands) Display drivers for large-sized applications $ 397,905 - 397,905 Display drivers for small and medium-sized applications 963,537 - 963,537 Non-driver products - 185,655 185,655 $ 1,361,442 185,655 1,547,097 |
Schedule of carrying values of company's tangible long-lived assets | The carrying values of the Company’s property, plant and equipment are located in the following countries: December 31, December 31, 2020 2021 (in thousands) Taiwan $ 128,941 130,951 U.S. 1,413 1,163 China 878 662 Korea 524 343 Israel 167 65 Japan 151 52 $ 132,074 133,236 |
Schedule of revenues from significant customers | Revenues from significant customers, those representing 10% or more of total revenue for the respective periods, are summarized as follows: Year ended December 31, 2019 2020 2021 (in thousands) Driver IC segment: Customer A and its affiliates $ 182,442 264,700 443,930 Customer C 33,318 109,911 290,578 $ 215,760 374,611 734,508 Non-driver products segment: Customer A and its affiliates $ 15,988 24,963 53,153 Customer C 4,313 2,593 4,639 $ 20,301 27,556 57,792 |
Schedule of accounts receivable from significant customers | Accounts receivable from significant customers, those representing 10% or more of total accounts receivable for the respective dates, is summarized as follows: December 31, December 31, 2020 2021 (in thousands) Customer A and its affiliates $ 88,353 160,107 Customer C 33,171 49,806 $ 121,524 209,913 |
Schedule of contract liabilities in relation to revenue from contracts with customers | The Company has recognized the following contract liabilities in relation to revenue from contracts with customers: December 31, December 31, 2020 2021 (in thousands) Contract liabilities-current $ 6,622 37,663 Contract liabilities-non-current $ - 10,221 |
The Nature of Expenses (Tables)
The Nature of Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
The Nature of Expenses | |
Schedule of depreciation of property, plant and equipment | (a) Depreciation of property, plant and equipment Year ended December 31, 2019 2020 2021 (in thousands) Recognized in cost of revenues $ 8,146 6,935 6,093 Recognized in operating expenses 14,040 14,938 13,511 $ 22,186 21,873 19,604 |
Schedule of amortization of intangible assets | (b) Amortization of intangible assets Year ended December 31, 2019 2020 2021 (in thousands) Recognized in cost of revenues $ 58 57 78 Recognized in operating expenses 2,155 1,666 1,660 $ 2,213 1,723 1,738 |
Schedule of employee benefit expense | (c) Employee benefits expense Year ended December 31, 2019 2020 2021 (in thousands) Salary $ 80,617 88,149 126,976 Labor and health insurance 5,668 5,805 7,232 Pension 5,246 4,536 5,993 Others 3,586 4,867 6,608 $ 95,117 103,357 146,809 Employee benefits expense summarized by function Recognized in cost of revenues $ 5,597 5,579 7,856 Recognized in operating expenses 89,520 97,778 138,953 $ 95,117 103,357 146,809 |
Himax Technologies, Inc. (the_2
Himax Technologies, Inc. (the Parent Company only) (Tables) - Equity attributable to owners of parent [member] | 12 Months Ended |
Dec. 31, 2021 | |
IFRS Statement [Line Items] | |
Schedule of condensed statements of financial position | Condensed Statements of Financial Position December 31, December 31, 2020 2021 (in thousands) Cash $ 1,980 972 Financial asset at amortized cost 5,405 5,659 Other current assets 434 516 Financial asset at fair value through profit or loss 12,412 12,269 Investments in subsidiaries and affiliates 791,056 1,228,969 Total assets $ 811,287 1,248,385 Current liabilities $ 195 885 Current portion of long-term unsecured borrowings 6,000 6,000 Short-term secured borrowings 104,000 151,400 Debt borrowing from a subsidiary 168,416 173,876 Long-term unsecured borrowings 52,500 46,500 Total equity 480,176 869,724 Total liabilities and equity $ 811,287 1,248,385 |
Schedule of condensed statement of profit or loss | Condensed Statements of Profit or Loss Year ended December 31, 2019 2020 2021 (in thousands) Revenues $ - - - Costs and expenses 1,206 704 1,037 Operating loss (1,206) (704) (1,037) Interest income 162 126 148 Changes in fair value of financial assets at fair value through profit or loss 3,755 427 (143) Foreign currency exchange gains (losses), net (69) 356 115 Finance costs (4,165) (3,629) (1,320) Share of profits (loss) of subsidiaries and affiliates (12,091) 50,558 439,133 Profit (loss) before income taxes (13,614) 47,134 436,896 Income tax expense - - - Profit (loss) for the year $ (13,614) 47,134 436,896 |
Schedule of condensed statements of other comprehensive income | Condensed Statements of Other Comprehensive Income Year Ended December 31, 2019 2020 2021 (in thousands) Profit (loss) for the year $ (13,614) 47,134 436,896 Other comprehensive income: Items that will not be reclassified to profit or loss: Remeasurements of defined benefit pension plans 197 (213) 160 Unrealized gain (loss) on financial assets at fair value through other comprehensive income (30) 67 (179) Income tax related to items that will not be reclassified subsequently (25) 38 (27) Items that may be reclassified subsequently to profit or loss: Foreign operations - foreign currency translation differences (545) 512 (72) Other comprehensive income for the year, net of tax (403) 404 (118) Total comprehensive income for the year $ (14,017) 47,538 436,778 |
Schedule of condensed statements of cash flows | Year ended December 31, 2019 2020 2021 (in thousands) Cash flows from operating activities: Profit (loss) for the year $ (13,614) 47,134 436,896 Adjustments for: Changes in fair value of financial assets at fair value through profit or loss (3,755) (427) 143 Interest income (162) (126) (148) Finance costs 4,165 3,629 1,320 Share of losses (profits) of subsidiaries and affiliates 12,091 (50,558) (439,133) Unrealized foreign currency exchange losses (gains) 69 (356) (115) (1,206) (704) (1,037) Changes in: Other current assets 320 (267) (72) Other current liabilities (58) (71) 750 Cash generated from operating activities (944) (1,042) (359) Interest received 174 130 139 Interest paid (844) (730) (858) Net cash used in operating activities (1,614) (1,642) (1,078) Cash flows from investing activities: Acquisitions of financial asset at amortized cost (170) (129) (139) Acquisitions of equity method investment - (758) - Cash received from loan made to related party 2,780 - - Net cash provided by (used in) investing activities 2,610 (887) (139) Cash flows from financing activities: Payments of cash dividends - - (47,404) Proceeds from long-term unsecured borrowings - 60,000 - Repayments of long-term unsecured borrowings - (1,500) (6,000) Proceeds from short-term secured borrowings 158,000 278,000 611,600 Repayments of short-term secured borrowings (158,000) (338,000) (564,200) Proceeds from issue of RSUs from a subsidiary 311 — 31 Proceeds from exercise of employee stock options - 3,707 1,182 Proceeds from debt from a subsidiary 150,430 151,730 159,205 Repayments of debt from a subsidiary (151,548) (150,430) (154,205) Net cash provided by (used in) financing activities (807) 3,507 209 Net increase (decrease) in cash 189 978 (1,008) Cash at beginning of year 813 1,002 1,980 Cash at end of year $ 1,002 1,980 972 |
Application of new and revise_3
Application of new and revised IFRS as issued by the IASB (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Amendments to IFRS 4 "Extension of the Temporary Exemption from Applying IFRS 9" | |
IFRS Statement [Line Items] | |
Title of new IFRS | Amendments to IFRS 4 “Extension of the Temporary Exemption from Applying IFRS 9” |
Date by which application of new IFRS is required | Jan. 1, 2021 |
Amendments to IFRS 9, IAS39, IFRS7, IFRS 4 and IFRS 16 "Interest Rate Benchmark Reform-Phase 2" | |
IFRS Statement [Line Items] | |
Title of new IFRS | Amendments to IFRS 9, IAS39, IFRS7, IFRS 4 and IFRS 16 “Interest Rate Benchmark Reform—Phase 2” |
Date by which application of new IFRS is required | Jan. 1, 2021 |
Amendments to IFRS 16 "Covid-19-Related Rent Concessions | |
IFRS Statement [Line Items] | |
Title of new IFRS | Amendments to IFRS 16 “Covid-19-Related Rent Concessions beyond June 30, 2021’’ |
Date by which application of new IFRS is required | Apr. 1, 2021 |
Amendments to IFRS 10 and IAS 28 "Sale or Contribution of Assets between An Investor and Its Associate or Joint Venture" | |
IFRS Statement [Line Items] | |
Title of new IFRS | Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets Between an Investor and Its Associate or Joint Venture” |
Determination Subject To IASB Approval | Effective date to be determined by IASB |
IFRS 17 "Insurance Contracts" | |
IFRS Statement [Line Items] | |
Title of new IFRS | IFRS 17 “Insurance Contracts” |
Date by which application of new IFRS is required | Jan. 1, 2023 |
Amendments to IAS 1 "Classification of Liabilities as Current or Non-current" | |
IFRS Statement [Line Items] | |
Title of new IFRS | Amendments to IAS 1 “Classification of Liabilities as Current or Non-current” |
Date by which application of new IFRS is required | Jan. 1, 2023 |
Amendments to IFRS 17 "Insurance Contracts" | |
IFRS Statement [Line Items] | |
Title of new IFRS | Amendments to IFRS 17 “Insurance Contracts” |
Date by which application of new IFRS is required | Jan. 1, 2023 |
Amendments to IAS 1 "Disclosure of Accounting Policies" | |
IFRS Statement [Line Items] | |
Title of new IFRS | Amendments to IAS 1 “Disclosure of Accounting Policies” |
Date by which application of new IFRS is required | Jan. 1, 2023 |
Amendments to IAS 8 "Definition of Accounting Estimates" | |
IFRS Statement [Line Items] | |
Title of new IFRS | Amendments to IAS 8 “Definition of Accounting Estimates” |
Date by which application of new IFRS is required | Jan. 1, 2023 |
Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction [Member] | |
IFRS Statement [Line Items] | |
Title of new IFRS | Amendments to IAS 12 “Deferred Tax related to Assets and Liabilities arising from a Single Transaction” |
Date by which application of new IFRS is required | Jan. 1, 2023 |
Amendments to IAS 16 "Property, Plant and Equipment-Proceeds before Intended Use" | |
IFRS Statement [Line Items] | |
Title of new IFRS | Amendments to IAS 16 “Property, Plant and Equipment—Proceeds before Intended Use” |
Date by which application of new IFRS is required | Jan. 1, 2022 |
Amendments to IAS 37 "Onerous Contracts-Cost of Fulfilling a Contract" | |
IFRS Statement [Line Items] | |
Title of new IFRS | Amendments to IAS 37 “Onerous Contracts—Cost of Fulfilling a Contract” |
Date by which application of new IFRS is required | Jan. 1, 2022 |
Annual Improvements to IFRS Standards 2018-2020 [Member] | |
IFRS Statement [Line Items] | |
Title of new IFRS | Annual Improvements to IFRS Standards 2018–2020 |
Date by which application of new IFRS is required | Jan. 1, 2022 |
Amendments To IFRS 3 Reference To Conceptual Framework [Member] | |
IFRS Statement [Line Items] | |
Title of new IFRS | Amendments to IFRS 3 “Reference to the Conceptual Framework” |
Date by which application of new IFRS is required | Jan. 1, 2022 |
Significant accounting polici_4
Significant accounting policies (Details) | Oct. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 |
CM Visual Technology Corp | |||
IFRS Statement [Line Items] | |||
Percentage of Ownership | 66.71% | ||
Himax Technologies Limited Himax Taiwan [Member] | ROC [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies, Inc. | ||
Subsidiary | Himax Technologies Limited (“Himax Taiwan”) | ||
Main activities | IC design and sales | ||
Jurisdiction of Incorporation | ROC | ||
Percentage of Ownership | 100.00% | 100.00% | |
Himax Technologies Korea Ltd [Member] | South Korea [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies, Inc. | ||
Subsidiary | Himax Technologies Korea Ltd. | ||
Main activities | IC design and sales | ||
Jurisdiction of Incorporation | South Korea | ||
Percentage of Ownership | 100.00% | 100.00% | |
Himax Technologies Japan Ltd [Member] | Japan [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies, Inc. | ||
Subsidiary | Himax Technologies Japan Ltd. | ||
Main activities | Sales | ||
Jurisdiction of Incorporation | Japan | ||
Percentage of Ownership | 100.00% | 100.00% | |
Himax Semiconductor Hong Kong Limited [Member] | Hong Kong [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies, Inc. | ||
Subsidiary | Himax Semiconductor (Hong Kong) Limited | ||
Main activities | Investments | ||
Jurisdiction of Incorporation | Hong Kong | ||
Percentage of Ownership | 100.00% | 100.00% | |
Himax Technologies Samoa Inc [Member] | Samoa [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies Limited | ||
Subsidiary | Himax Technologies (Samoa), Inc. | ||
Main activities | Investments | ||
Jurisdiction of Incorporation | Samoa | ||
Percentage of Ownership | 100.00% | 100.00% | |
Himax Technologies Suzhou Co Ltd [Member] | PRC [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies (Samoa), Inc. | ||
Subsidiary | Himax Technologies (Suzhou) Co., Ltd. | ||
Main activities | Sales and technical support | ||
Jurisdiction of Incorporation | PRC | ||
Percentage of Ownership | 100.00% | 100.00% | |
Himax Technologies Shenzhen Co Ltd [Member] | PRC [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies (Samoa), Inc. | ||
Subsidiary | Himax Technologies (Shenzhen) Co., Ltd. | ||
Main activities | Sales and technical support | ||
Jurisdiction of Incorporation | PRC | ||
Percentage of Ownership | 100.00% | 100.00% | |
Himax Display Inc | ROC [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies Limited | ||
Subsidiary | Himax Display, Inc. | ||
Main activities | LCoS and MEMS design, manufacturing and sales | ||
Jurisdiction of Incorporation | ROC | ||
Percentage of Ownership | 83.54% | 82.68% | |
Integrated Microdisplays Limited [Member] | Hong Kong [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Display, Inc. | ||
Subsidiary | Integrated Microdisplays Limited | ||
Main activities | LCoS design | ||
Jurisdiction of Incorporation | Hong Kong | ||
Percentage of Ownership | 83.54% | 82.68% | |
Himax Display USA Inc [Member] | Delaware USA [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Display, Inc. | ||
Subsidiary | Himax Display (USA) Inc. | ||
Main activities | LCoS and MEMS design, sales and technical support | ||
Jurisdiction of Incorporation | Delaware, USA | ||
Percentage of Ownership | 83.54% | 82.68% | |
Himax Analogic Inc [Member] | ROC [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies Limited | ||
Subsidiary | Himax Analogic, Inc. | ||
Main activities | IC design and sales | ||
Jurisdiction of Incorporation | ROC | ||
Percentage of Ownership | 98.62% | 98.62% | |
Himax Imaging Inc [Member] | Cayman Islands [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies, Inc. | ||
Subsidiary | Himax Imaging, Inc. | ||
Main activities | Investments | ||
Jurisdiction of Incorporation | Cayman Islands | ||
Percentage of Ownership | 100.00% | 100.00% | |
Himax Imaging Ltd Imaging Taiwan [Member] | ROC [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies Limited | ||
Subsidiary | Himax Imaging, Ltd. (“Imaging Taiwan”) | ||
Main activities | IC design and sales | ||
Jurisdiction of Incorporation | ROC | ||
Percentage of Ownership | 98.42% | 96.85% | |
Himax Imaging Corp [Member] | California USA [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Imaging, Ltd. | ||
Subsidiary | Himax Imaging Corp. | ||
Main activities | IC design | ||
Jurisdiction of Incorporation | California, USA | ||
Percentage of Ownership | 98.42% | 96.85% | |
Himax Media Solutions Inc [Member] | ROC [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies Limited | ||
Subsidiary | Himax Media Solutions, Inc. | ||
Main activities | ASIC service | ||
Jurisdiction of Incorporation | ROC | ||
Percentage of Ownership | 99.22% | 99.22% | |
Harvest Investment Limited [Member] | ROC [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies Limited | ||
Subsidiary | Harvest Investment Limited | ||
Main activities | Investments | ||
Jurisdiction of Incorporation | ROC | ||
Percentage of Ownership | 100.00% | 100.00% | |
Liqxtal Technology Inc | ROC [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies Limited | ||
Subsidiary | Liqxtal Technology Inc. | ||
Main activities | LC Lens design and sales | ||
Jurisdiction of Incorporation | ROC | ||
Percentage of Ownership | 67.49% | 67.49% | |
Himax IGI Precision Ltd [Member] | Delaware USA [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies Limited | ||
Subsidiary | Himax IGI Precision Ltd. | ||
Main activities | 3D micro and nano structure mastering and prototype replication | ||
Jurisdiction of Incorporation | Delaware, USA | ||
Percentage of Ownership | 100.00% | 100.00% | |
Emza Visual Sense Ltd. [Member] | Israel [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies Limited | ||
Subsidiary | Emza Visual Sense Ltd. | ||
Main activities | Visual sensors and efficient machine vision algorithm | ||
Jurisdiction of Incorporation | Israel | ||
Percentage of Ownership | 100.00% | 100.00% | |
CM Visual Technology Corp | |||
IFRS Statement [Line Items] | |||
Percentage of Ownership | 66.71% | ||
CM Visual Technology Corp | ROC [Member] | |||
IFRS Statement [Line Items] | |||
Investor | Himax Technologies Limited | ||
Subsidiary | CM Visual Technology Corp.(1) | ||
Main activities | Omniwide film products design and sales | ||
Jurisdiction of Incorporation | ROC | ||
Percentage of Ownership | 66.71% | 66.71% |
Significant accounting polici_5
Significant accounting policies - Basic and diluted earnings per ordinary share - (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Significant accounting policies | ||||
Profits (loss) attributable to Himax Technologies, Inc. stockholders | $ 436,896 | $ 47,134 | $ (13,614) | |
Denominator for basic earnings per ordinary share: | ||||
Weighted average number of ordinary shares outstanding | 349,228 | 345,708 | 345,101 | |
Basic earnings (loss) per ordinary share attributable to Himax Technologies, Inc. stockholders | $ 1.25 | $ 0.14 | $ (0.04) | |
Basic earnings per ADS attributable to Himax Technologies, Inc. stockholders | [1] | $ 2.50 | $ 0.27 | $ (0.08) |
[1] | As the Company’s ordinary shares have been quoted on the NASDAQ Global Select Market under the symbol “HIMX” in the form of ADSs and two ordinary shares represent one ADS with effect from August 10, 2009. The number of ADS equivalent outstanding is determined by dividing the number of ordinary shares by two. Therefore, the weighted average number of ADS equivalent outstanding used in basic earnings per ADS for 2019, 2020 and 2021 is 172,550 thousand, 172,854 thousand and 174,614 thousand, respectively. Additionally, the weighted average number of ADS equivalent outstanding used in diluted earnings per ADS for 2019, 2020 and 2021 is 172,550 thousand, 173,383 thousand and 174,867 thousand, respectively. The earnings (loss) per ADS is presented solely for the convenience of the reader and does not represent a measure under IFRS. |
Significant accounting polici_6
Significant accounting policies - Calculation of diluted earnings per ordinary share based on treasury stock method (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure Of Significant Accounting Policies [Abstract] | ||||
Profits (loss) attributable to Himax Technologies, Inc. stockholders | $ 436,896 | $ 47,134 | $ (13,614) | |
Denominator for diluted earnings per ordinary share: | ||||
Weighted average number of ordinary shares outstanding | 349,228 | 345,708 | 345,101 | |
Unvested RSUs | [1] | 505 | 0 | 0 |
Employee stock options | [1] | 0 | 1,058 | 0 |
Adjusted weighted average number of ordinary shares outstanding | 349,733 | 346,766 | 345,101 | |
Diluted earnings (loss) per ordinary share attributable to Himax Technologies, Inc. stockholders | $ 1.25 | $ 0.14 | $ (0.04) | |
Diluted earnings (loss) per ADS attributable to Himax Technologies, Inc. stockholders | [2] | $ 2.50 | $ 0.27 | $ (0.08) |
Weighted Average Basic Number of ADS Equivalent Outstanding | 174,614 | 172,854 | 172,550 | |
Weighted Average Diluted Number of ADS Equivalent Outstanding | 174,867 | 173,383 | 172,550 | |
[1] | Since the Company had net loss for 2019, the unvested RSUs and employee stock options are not being considered with dilutive effect for the year. | |||
[2] | As the Company’s ordinary shares have been quoted on the NASDAQ Global Select Market under the symbol “HIMX” in the form of ADSs and two ordinary shares represent one ADS with effect from August 10, 2009. The number of ADS equivalent outstanding is determined by dividing the number of ordinary shares by two. Therefore, the weighted average number of ADS equivalent outstanding used in basic earnings per ADS for 2019, 2020 and 2021 is 172,550 thousand, 172,854 thousand and 174,614 thousand, respectively. Additionally, the weighted average number of ADS equivalent outstanding used in diluted earnings per ADS for 2019, 2020 and 2021 is 172,550 thousand, 173,383 thousand and 174,867 thousand, respectively. The earnings (loss) per ADS is presented solely for the convenience of the reader and does not represent a measure under IFRS. |
Significant accounting polici_7
Significant accounting policies - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
IFRS Statement [Line Items] | ||
Plant And Equipment Useful Life | 3 years | |
Driver IC CGU [Member] | ||
IFRS Statement [Line Items] | ||
Annual discount rate | 8.05% | 18.28% |
WLO CGU [Member] | ||
IFRS Statement [Line Items] | ||
Annual discount rate | 13.33% | 15.41% |
Growth rate used to extrapolate cash flow projections | 2.46% | 2.32% |
Period for average Taiwan economic growth rate | 5 years | |
Technology [Member] | ||
IFRS Statement [Line Items] | ||
Assets Acquired Useful Life | 7 years | |
Patent [Member] | Bottom of range [member] | ||
IFRS Statement [Line Items] | ||
Assets Acquired Useful Life | 12 years | |
Patent [Member] | Top of range [member] | ||
IFRS Statement [Line Items] | ||
Assets Acquired Useful Life | 15 years | |
Intellectual Properties [Member] | ||
IFRS Statement [Line Items] | ||
Assets Acquired Useful Life | 10 years | |
Himax semi conductor [Member] | ||
IFRS Statement [Line Items] | ||
Goodwill recognised as of acquisition date | $ 26,846 | |
Himax Display Inc | ||
IFRS Statement [Line Items] | ||
Goodwill recognised as of acquisition date | $ 1,292 | |
Buildings [Member] | ||
IFRS Statement [Line Items] | ||
Useful Life Of Tangible Assets | 25 years | |
Building and improvements [Member] | Bottom of range [member] | ||
IFRS Statement [Line Items] | ||
Useful Life Of Tangible Assets | 4 years | |
Building and improvements [Member] | Top of range [member] | ||
IFRS Statement [Line Items] | ||
Useful Life Of Tangible Assets | 16 years | |
Machinery [Member] | Bottom of range [member] | ||
IFRS Statement [Line Items] | ||
Useful Life Of Tangible Assets | 4 years | |
Machinery [Member] | Top of range [member] | ||
IFRS Statement [Line Items] | ||
Useful Life Of Tangible Assets | 10 years | |
Research and development equipment [Member] | Bottom of range [member] | ||
IFRS Statement [Line Items] | ||
Useful Life Of Tangible Assets | 2 years | |
Research and development equipment [Member] | Top of range [member] | ||
IFRS Statement [Line Items] | ||
Useful Life Of Tangible Assets | 6 years | |
Office furniture and equipment [Member] | Bottom of range [member] | ||
IFRS Statement [Line Items] | ||
Useful Life Of Tangible Assets | 3 years | |
Office furniture and equipment [Member] | Top of range [member] | ||
IFRS Statement [Line Items] | ||
Useful Life Of Tangible Assets | 8 years | |
Others [Member] | Bottom of range [member] | ||
IFRS Statement [Line Items] | ||
Useful Life Of Tangible Assets | 2 years | |
Others [Member] | Top of range [member] | ||
IFRS Statement [Line Items] | ||
Useful Life Of Tangible Assets | 10 years | |
Software [Member] | ||
IFRS Statement [Line Items] | ||
Annual discount rate | 11.40% | 13.23% |
Growth rate used to extrapolate cash flow projections | 2.46% | 2.32% |
Period for average Taiwan economic growth rate | 5 years | |
Software [Member] | Bottom of range [member] | ||
IFRS Statement [Line Items] | ||
Assets Acquired Useful Life | 2 years | |
Useful Life Of Tangible Assets | 2 years | |
Software [Member] | Top of range [member] | ||
IFRS Statement [Line Items] | ||
Assets Acquired Useful Life | 10 years | |
Useful Life Of Tangible Assets | 10 years |
Acquisition - Estimated fair va
Acquisition - Estimated fair value of the assets acquired and liabilities (Details) - USD ($) $ in Thousands | Oct. 30, 2020 | Jun. 28, 2018 |
Emza Visual Sense Ltd. | ||
Recognized amounts of identifiable assets acquired and liabilities assumed: | ||
Cash | $ 170 | |
Current assets, other than cash | 335 | |
Property, plant and equipment | 27 | |
Deferred tax assets | 1,445 | |
Other intangible assets | 8,545 | |
Other current liabilities | (2,706) | |
Deferred tax liabilities | (1,445) | |
Total identifiable net assets acquired | 6,371 | |
Total consideration transferred, acquisition-date fair value | $ 6,371 | |
CM Visual Technology Corp | ||
Recognized amounts of identifiable assets acquired and liabilities assumed: | ||
Cash | $ 7,982 | |
Current assets, other than cash | 2,602 | |
Property, plant and equipment | 1,906 | |
Other intangible assets | 704 | |
Other current liabilities | (3,181) | |
Total identifiable net assets acquired | 10,013 | |
Noncontrolling interests | (3,333) | |
Total consideration transferred, acquisition-date fair value | $ 6,680 |
Acquisition - Additional Inform
Acquisition - Additional Information (Details) - USD ($) $ in Thousands | Oct. 30, 2020 | Jun. 28, 2018 | Feb. 21, 2018 | Apr. 30, 2017 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
IFRS Statement [Line Items] | ||||||||
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities | $ 0 | $ 0 | $ 700 | |||||
weighted average useful life of intangible assets | 7 years | |||||||
Emza Visual Sense Ltd. [Member] | ||||||||
IFRS Statement [Line Items] | ||||||||
Acquisition-related costs | $ 195 | |||||||
Technology-based intangible assets recognised as of acquisition date | $ 6,282 | |||||||
Trademark-based intangible assets recognised as of acquisition date | 1,800 | |||||||
Revenue of acquire since acquisition date | 72 | |||||||
Profit (loss) from acquire since acquisition date | (2,858) | |||||||
Revenue of combined entity as if combination occurred at beginning of period | 723,605 | |||||||
Profit (loss) of combined entity as if combination occurred at beginning of period | 7,291 | |||||||
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities | $ 2,230 | |||||||
Cash flows used in obtaining additional control of subsidiaries or other businesses classified as investing activities | $ 270 | |||||||
Consideration transferred, acquisition-date fair value | 6,371 | |||||||
Liabilities incurred | 400 | |||||||
Gain (loss) recognised as result of remeasuring to fair value equity interest in acquiree held by acquirer before business combination | $ 1,662 | |||||||
Property, plant and equipment recognised as of acquisition date | 27 | |||||||
Identifiable intangible assets recognised as of acquisition date | $ 8,545 | |||||||
Nano 3D Mastering Member [Member] | ||||||||
IFRS Statement [Line Items] | ||||||||
Consideration transferred, acquisition-date fair value | $ 1,400 | |||||||
Liabilities incurred | 700 | |||||||
Property, plant and equipment recognised as of acquisition date | 700 | |||||||
Identifiable intangible assets recognised as of acquisition date | 400 | |||||||
Prepaid maintenance recognised as of acquisition date | $ 300 | |||||||
CM Visual Technology Corp | ||||||||
IFRS Statement [Line Items] | ||||||||
Revenue of acquire since acquisition date | 1,231 | |||||||
Profit (loss) from acquire since acquisition date | (214) | |||||||
Revenue of combined entity as if combination occurred at beginning of period | 891,038 | |||||||
Profit (loss) of combined entity as if combination occurred at beginning of period | $ 46,361 | |||||||
Consideration transferred, acquisition-date fair value | $ 6,680 | |||||||
Percentage of Ownership | 66.71% | |||||||
Property, plant and equipment recognised as of acquisition date | $ 1,906 | |||||||
Identifiable intangible assets recognised as of acquisition date | $ 704 |
Cash and Cash Equivalents (Deta
Cash and Cash Equivalents (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and Cash Equivalents | ||||
Cash, demand deposits and checking accounts | $ 333,524 | $ 178,938 | ||
Time deposits with less than three months maturity date | 2,500 | 6,000 | ||
Cash and cash equivalents | $ 336,024 | $ 184,938 | $ 101,055 | $ 106,437 |
Financial Assets at Amortized_3
Financial Assets at Amortized Cost (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financial Assets at Amortized Cost | ||
Time deposit with original maturities more than three months | $ 26,013 | $ 8,682 |
Financial Assets at Fair Valu_4
Financial Assets at Fair Value Through Profit or Loss (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financial Assets at Fair Value Through Profit or Loss | ||
Money market fund | $ 2,345 | $ 7,799 |
Equity securities-unlisted company | 13,668 | 13,966 |
Financial assets at fair value through profit or loss | 16,013 | 21,765 |
Current | 2,345 | 7,799 |
Non-current | 13,668 | 13,966 |
Financial assets at fair value through profit or loss | $ 16,013 | $ 21,765 |
Financial Assets at Fair Valu_5
Financial Assets at Fair Value Through Profit or Loss - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Financial assets at fair value through profit or loss, category [member] | |||
IFRS Statement [Line Items] | |||
Gains (losses) on changes in fair value of financial assets at fair value through profit or loss | $ 284 | $ 472 | $ 3,732 |
Financial Assets at Fair Valu_6
Financial Assets at Fair Value Through Other Comprehensive Income (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
IFRS Statement [Line Items] | |||
Financial assets at fair value through other comprehensive income | $ 410 | $ 742 | |
Equity investments [member] | |||
IFRS Statement [Line Items] | |||
Financial assets at fair value through other comprehensive income | $ 151 | $ 32 | $ 47 |
Financial Liability at Amorti_2
Financial Liability at Amortized Cost (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Financial liabilities at amortised cost, category [member] | |
IFRS Statement [Line Items] | |
Finance cost | $ 234 |
Accounts Receivable, net (Detai
Accounts Receivable, net (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Accounts Receivable, net | ||
Accounts receivable | $ 410,140 | $ 243,816 |
Accounts receivable from related parties | 71 | 0 |
Less: Loss allowance | (190) | |
Accounts receivable, net | $ 410,211 | $ 243,626 |
Accounts Receivable, net - Anal
Accounts Receivable, net - Analysis of expected credit losses (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
IFRS Statement [Line Items] | ||
Carrying amount of accounts receivable | $ 410,211 | $ 243,626 |
Loss allowance for lifetime expected credit | 0 | |
No Past Due [Member] | ||
IFRS Statement [Line Items] | ||
Carrying amount of accounts receivable | $ 408,415 | $ 243,208 |
Weighted average loss rate | 0.00% | 0.00% |
Loss allowance for lifetime expected credit | $ 0 | $ 0 |
Past due within 30 days [Member] | ||
IFRS Statement [Line Items] | ||
Carrying amount of accounts receivable | $ 795 | $ 36 |
Weighted average loss rate | 0.00% | 0.00% |
Loss allowance for lifetime expected credit | $ 0 | $ 0 |
Past due 31-60 days [Member] | ||
IFRS Statement [Line Items] | ||
Carrying amount of accounts receivable | $ 924 | $ 382 |
Weighted average loss rate | 0.00% | 0.00% |
Loss allowance for lifetime expected credit | $ 0 | $ 0 |
Past due 61-90 days [Member] | ||
IFRS Statement [Line Items] | ||
Carrying amount of accounts receivable | $ 77 | $ 0 |
Weighted average loss rate | 0.00% | 0.00% |
Loss allowance for lifetime expected credit | $ 0 | $ 0 |
Past due 91-120 days [Member] | ||
IFRS Statement [Line Items] | ||
Carrying amount of accounts receivable | $ 0 | 0 |
Weighted average loss rate | 0.00% | |
Loss allowance for lifetime expected credit | $ 0 | $ 0 |
Past due 91-120 days [Member] | Bottom of range [member] | ||
IFRS Statement [Line Items] | ||
Weighted average loss rate | 0.00% | |
Past due 91-120 days [Member] | Top of range [member] | ||
IFRS Statement [Line Items] | ||
Weighted average loss rate | 6.32% | |
Past due over 121 days [Member] | ||
IFRS Statement [Line Items] | ||
Carrying amount of accounts receivable | $ 0 | $ 0 |
Weighted average loss rate | 100.00% | 100.00% |
Loss allowance for lifetime expected credit | $ 0 | $ 0 |
Accounts Receivable, net - Loss
Accounts Receivable, net - Loss Allowance (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Receivable, net | |||
Balance at Beginning of year | $ 190 | $ 190 | $ 290 |
Charges to earnings | (190) | 0 | 67 |
Amounts utilized / write-offs | 0 | 0 | (167) |
Balance at end of year | $ 0 | $ 190 | $ 190 |
Accounts Receivable, net - Addi
Accounts Receivable, net - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Receivable, net | |||
Loss Allowance Accounts Receivable Ending Balance | $ 0 | $ 190 | $ 190 |
Charges to Earnings Accounts Receivable | $ (190) | $ 0 | $ 67 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Inventories | ||
Finished goods | $ 53,884 | $ 23,990 |
Work in process | 107,355 | 63,025 |
Raw materials | 36,963 | 21,346 |
Supplies | 398 | 346 |
Inventories | $ 198,600 | $ 108,707 |
Inventories - Additional Inform
Inventories - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Inventories | |||
cost of revenues | $ 789,071 | $ 654,582 | $ 508,469 |
Inventory write-down | $ 9,448 | $ 11,919 | $ 25,447 |
Equity Method Investments (Deta
Equity Method Investments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Nov. 30, 2020 | |
IFRS Statement [Line Items] | |||
Carrying amount | $ 3,302 | $ 3,983 | |
Holding | 100.00% | ||
Ganzin Technology Corp. | |||
IFRS Statement [Line Items] | |||
Principal Activities | Eye tracking chip and module | ||
Place of Incorporation and operation | Taipei, Taiwan | ||
Carrying amount | $ 0 | $ 577 | |
Holding | 42.01% | 45.64% | |
Iris Optronics Co., Ltd. | |||
IFRS Statement [Line Items] | |||
Principal Activities | E-paper manufacturing and sales | ||
Place of Incorporation and operation | Tainan, Taiwan | ||
Carrying amount | $ 174 | $ 61 | |
Holding | 6.25% | 1.25% | |
Viewsil Microelectronics (Kunshan) Limited | |||
IFRS Statement [Line Items] | |||
Principal Activities | IC design and sales | ||
Place of Incorporation and operation | Kunshan, China | ||
Carrying amount | $ 2,671 | $ 2,621 | |
Holding | 49.00% | 49.00% | |
Guangzhou Pixtalks Information Technology Co., Ltd. | |||
IFRS Statement [Line Items] | |||
Principal Activities | 3D structured light module | ||
Place of Incorporation and operation | Guangzhou, China | ||
Carrying amount | $ 457 | $ 724 | $ 758 |
Holding | 22.50% | 25.00% |
Equity Method Investments - Sha
Equity Method Investments - Share of associates (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Equity Method Investments | |||
The Company's share of losses of associates | $ (1,392) | $ (638) | $ (477) |
The Company's share of other comprehensive income of associates | 55 | 58 | 26 |
The Company's share of total comprehensive income (loss) of associates | $ (1,337) | $ (580) | $ (451) |
Other Intangible Assets (Detail
Other Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS Statement [Line Items] | |||
Amortization for the year | $ 1,738 | $ 1,723 | $ 2,213 |
Carrying Amount [Abstract] | |||
Carrying amount | 6,617 | 7,876 | |
Technology [Member] | |||
Carrying Amount [Abstract] | |||
Carrying amount | 3,280 | 4,385 | |
Software [Member] | |||
Carrying Amount [Abstract] | |||
Carrying amount | 431 | 414 | |
Others | |||
Carrying Amount [Abstract] | |||
Carrying amount | 2,906 | 3,077 | |
Accumulated depreciation and amortisation [member] | |||
IFRS Statement [Line Items] | |||
Opening Balance | (14,245) | (12,552) | |
Amortization for the year | (1,738) | (1,723) | |
Transfer from other current assets | 0 | ||
Disposals | 332 | 0 | |
Effect of exchange rate changes | (10) | (30) | |
Ending Balance | (15,641) | (14,245) | (12,552) |
Accumulated depreciation and amortisation [member] | Technology [Member] | |||
IFRS Statement [Line Items] | |||
Opening Balance | (8,786) | (7,681) | |
Amortization for the year | (1,105) | (1,105) | |
Transfer from other current assets | 0 | ||
Disposals | 0 | 0 | |
Effect of exchange rate changes | 0 | 0 | |
Ending Balance | (9,891) | (8,786) | (7,681) |
Accumulated depreciation and amortisation [member] | Software [Member] | |||
IFRS Statement [Line Items] | |||
Opening Balance | (5,092) | (4,615) | |
Amortization for the year | (452) | (464) | |
Transfer from other current assets | 0 | ||
Disposals | 332 | 0 | |
Effect of exchange rate changes | (21) | (13) | |
Ending Balance | (5,233) | (5,092) | (4,615) |
Accumulated depreciation and amortisation [member] | Others | |||
IFRS Statement [Line Items] | |||
Opening Balance | (367) | (256) | |
Amortization for the year | (181) | (154) | |
Transfer from other current assets | 0 | ||
Disposals | 0 | 0 | |
Effect of exchange rate changes | 31 | 43 | |
Ending Balance | (517) | (367) | (256) |
Gross carrying amount [member] | |||
IFRS Statement [Line Items] | |||
Opening Balance | 22,121 | 21,302 | |
Acquisitions through business combinations | 704 | ||
Additions | 468 | 87 | |
Transfer from other current assets | 21 | ||
Disposals | (332) | 0 | |
Effect of exchange rate changes | 1 | 7 | |
Ending Balance | 22,258 | 22,121 | 21,302 |
Gross carrying amount [member] | Technology [Member] | |||
IFRS Statement [Line Items] | |||
Opening Balance | 13,171 | 13,171 | |
Acquisitions through business combinations | 0 | ||
Additions | 0 | 0 | |
Transfer from other current assets | 0 | ||
Disposals | 0 | 0 | |
Effect of exchange rate changes | 0 | 0 | |
Ending Balance | 13,171 | 13,171 | 13,171 |
Gross carrying amount [member] | Software [Member] | |||
IFRS Statement [Line Items] | |||
Opening Balance | 5,506 | 5,342 | |
Acquisitions through business combinations | 41 | ||
Additions | 468 | 87 | |
Transfer from other current assets | 21 | ||
Disposals | (332) | 0 | |
Effect of exchange rate changes | 22 | 15 | |
Ending Balance | 5,664 | 5,506 | 5,342 |
Gross carrying amount [member] | Others | |||
IFRS Statement [Line Items] | |||
Opening Balance | 3,444 | 2,789 | |
Acquisitions through business combinations | 663 | ||
Additions | 0 | 0 | |
Transfer from other current assets | 0 | ||
Disposals | 0 | 0 | |
Effect of exchange rate changes | (21) | (8) | |
Ending Balance | $ 3,423 | $ 3,444 | $ 2,789 |
Other Intangible Assets - Estim
Other Intangible Assets - Estimated useful lives (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Technology [Member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, intangible assets other than goodwill | 7 years |
Software [Member] | Bottom of range [member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, intangible assets other than goodwill | 2 years |
Software [Member] | Top of range [member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, intangible assets other than goodwill | 10 years |
Others | Bottom of range [member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, intangible assets other than goodwill | 7 years |
Others | Top of range [member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, intangible assets other than goodwill | 15 years |
Other Intangible Assets - Addit
Other Intangible Assets - Additional Information (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Trademark [member] | |
IFRS Statement [Line Items] | |
Acquisitions through business combinations, intangible assets other than goodwill | $ 1,800 |
Property, Plant and Equipment_2
Property, Plant and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | $ 132,074 | ||
Depreciation for the year | 19,604 | $ 21,873 | $ 22,186 |
Ending Balance | 133,236 | 132,074 | |
Non-cash capital expenditures related to property, plant and equipment | 2,006 | 345 | 1,999 |
Land [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 41,828 | ||
Ending Balance | 41,828 | 41,828 | |
Building and improvements [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 50,756 | ||
Ending Balance | 46,583 | 50,756 | |
Machinery [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 17,380 | ||
Ending Balance | 14,046 | 17,380 | |
Research and development equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 6,204 | ||
Ending Balance | 8,286 | 6,204 | |
Office furniture and equipment | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 2,581 | ||
Ending Balance | 2,268 | 2,581 | |
Others [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 12,473 | ||
Ending Balance | 19,778 | 12,473 | |
Prepayments for purchase of equipment and construction in progress | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 852 | ||
Ending Balance | 447 | 852 | |
Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 286,431 | 289,627 | |
Acquisitions through business combinations | 1,906 | ||
Additions | 20,815 | 13,915 | |
Transfers | 0 | (694) | |
Disposals | (3,371) | (18,800) | |
Effect of exchange rate changes | 20 | 477 | |
Ending Balance | 303,895 | 286,431 | 289,627 |
Gross carrying amount [member] | Land [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 41,828 | 41,828 | |
Acquisitions through business combinations | 0 | ||
Additions | 0 | 0 | |
Transfers | 0 | 0 | |
Disposals | 0 | 0 | |
Effect of exchange rate changes | 0 | 0 | |
Ending Balance | 41,828 | 41,828 | 41,828 |
Gross carrying amount [member] | Building and improvements [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 75,403 | 75,357 | |
Acquisitions through business combinations | 0 | ||
Additions | 60 | 46 | |
Transfers | 0 | 0 | |
Disposals | (79) | 0 | |
Effect of exchange rate changes | (1) | 0 | |
Ending Balance | 75,383 | 75,403 | 75,357 |
Gross carrying amount [member] | Machinery [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 74,956 | 74,326 | |
Acquisitions through business combinations | 1,476 | ||
Additions | 1,705 | 1,031 | |
Transfers | 783 | 386 | |
Disposals | (5) | (2,350) | |
Effect of exchange rate changes | 2 | 87 | |
Ending Balance | 77,441 | 74,956 | 74,326 |
Gross carrying amount [member] | Research and development equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 45,487 | 44,638 | |
Acquisitions through business combinations | 189 | ||
Additions | 4,565 | 1,189 | |
Transfers | 69 | 178 | |
Disposals | (895) | (730) | |
Effect of exchange rate changes | 1 | 23 | |
Ending Balance | 49,227 | 45,487 | 44,638 |
Gross carrying amount [member] | Office furniture and equipment | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 14,657 | 13,666 | |
Acquisitions through business combinations | 19 | ||
Additions | 731 | 857 | |
Transfers | 0 | 0 | |
Disposals | (2,286) | 0 | |
Effect of exchange rate changes | 25 | 115 | |
Ending Balance | 13,127 | 14,657 | 13,666 |
Gross carrying amount [member] | Others [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 33,248 | 39,248 | |
Acquisitions through business combinations | 222 | ||
Additions | 13,307 | 9,952 | |
Transfers | 0 | (706) | |
Disposals | (106) | (15,720) | |
Effect of exchange rate changes | (7) | 252 | |
Ending Balance | 46,442 | 33,248 | 39,248 |
Gross carrying amount [member] | Prepayments for purchase of equipment and construction in progress | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 852 | 564 | |
Acquisitions through business combinations | 0 | ||
Additions | 447 | 840 | |
Transfers | (852) | (552) | |
Disposals | 0 | 0 | |
Effect of exchange rate changes | 0 | 0 | |
Ending Balance | 447 | 852 | 564 |
Accumulated depreciation and amortisation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | (154,357) | (150,689) | |
Depreciation for the year | 19,604 | 21,873 | |
Transfers | 101 | ||
Disposals | 3,354 | 18,679 | |
Effect of exchange rate changes | 52 | 373 | |
Ending Balance | (170,659) | (154,357) | (150,689) |
Accumulated depreciation and amortisation [member] | Land [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 0 | 0 | |
Depreciation for the year | 0 | 0 | |
Transfers | 0 | ||
Disposals | 0 | 0 | |
Effect of exchange rate changes | 0 | 0 | |
Ending Balance | 0 | 0 | 0 |
Accumulated depreciation and amortisation [member] | Building and improvements [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | (24,647) | (20,124) | |
Depreciation for the year | 4,232 | 4,523 | |
Transfers | 0 | ||
Disposals | 79 | 0 | |
Effect of exchange rate changes | 0 | 0 | |
Ending Balance | (28,800) | (24,647) | (20,124) |
Accumulated depreciation and amortisation [member] | Machinery [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | (57,576) | (54,215) | |
Depreciation for the year | 5,824 | 5,644 | |
Transfers | (1) | ||
Disposals | 5 | 2,350 | |
Effect of exchange rate changes | 0 | 68 | |
Ending Balance | (63,395) | (57,576) | (54,215) |
Accumulated depreciation and amortisation [member] | Research and development equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | (39,283) | (36,519) | |
Depreciation for the year | 2,551 | 3,469 | |
Transfers | 0 | ||
Disposals | 895 | 725 | |
Effect of exchange rate changes | 2 | 20 | |
Ending Balance | (40,941) | (39,283) | (36,519) |
Accumulated depreciation and amortisation [member] | Office furniture and equipment | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | (12,076) | (10,986) | |
Depreciation for the year | 1,048 | 994 | |
Transfers | 0 | ||
Disposals | 2,286 | 0 | |
Effect of exchange rate changes | 21 | 96 | |
Ending Balance | (10,859) | (12,076) | (10,986) |
Accumulated depreciation and amortisation [member] | Others [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | (20,775) | (28,845) | |
Depreciation for the year | 5,949 | 7,243 | |
Transfers | 102 | ||
Disposals | 89 | 15,604 | |
Effect of exchange rate changes | 29 | 189 | |
Ending Balance | (26,664) | (20,775) | (28,845) |
Accumulated depreciation and amortisation [member] | Prepayments for purchase of equipment and construction in progress | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Opening Balance | 0 | 0 | |
Depreciation for the year | 0 | 0 | |
Transfers | 0 | ||
Disposals | 0 | 0 | |
Effect of exchange rate changes | 0 | 0 | |
Ending Balance | $ 0 | $ 0 | $ 0 |
Property, Plant and Equipment -
Property, Plant and Equipment - Estimated useful lives (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Buildings [Member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 25 years |
Minimum | Building and improvements [Member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 4 years |
Minimum | Machinery [Member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 4 years |
Minimum | Research and development equipment [Member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 2 years |
Minimum | Office furniture and equipment | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 3 years |
Minimum | Others [Member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 2 years |
Maximum | Building and improvements [Member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 16 years |
Maximum | Machinery [Member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 10 years |
Maximum | Research and development equipment [Member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 6 years |
Maximum | Office furniture and equipment | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 8 years |
Maximum | Others [Member] | |
IFRS Statement [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 15 years |
Property, Plant and Equipment_3
Property, Plant and Equipment - Right-of-use assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of initial application of standards or interpretations [line items] | |||
Lease liabilities (including current and noncurrent) | $ 15,860 | $ 10,454 | |
IFRS 16 | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Addition to right-of use assets | 11,247 | 8,474 | |
Depreciation expense of right-of use assets | 4,554 | 2,619 | $ 2,018 |
IFRS 16 | Offices and Buildings [Member] | |||
Disclosure of initial application of standards or interpretations [line items] | |||
Right-of-use assets | $ 16,660 | $ 10,020 |
Property, Plant and Equipment_4
Property, Plant and Equipment - Lease liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Lease liabilities | ||
Current portion (classified under other current liabilities) | $ 4,602 | $ 3,068 |
Non-current portion (classified under other non-current liabilities) | 11,258 | 7,386 |
Total lease liabilities | $ 15,860 | $ 10,454 |
Property, Plant and Equipment_5
Property, Plant and Equipment - Additional lease information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment | |||
Expenses relating to short-term leases | $ 162 | $ 258 | $ 313 |
Expenses relating to low-value asset leases | 342 | 230 | 143 |
Expenses relating to variable lease payments not included in the measurement of lease liabilities | $ 1,874 | $ 2,018 | $ 1,631 |
Property, Plant and Equipment_6
Property, Plant and Equipment - Reconciliation of lease liabilities to cash flows arising from financing activities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment | ||
Balance at beginning of year | $ 10,454 | $ 4,220 |
Change from financing activities: | ||
Payment of lease liabilities | (4,668) | (2,608) |
Total change from financing activities | (4,668) | (2,608) |
Other changes: | ||
New lease | 11,247 | 8,474 |
Interest expense | 213 | 155 |
Interest paid | (213) | (155) |
Effect of exchange rate changes | (1,173) | 368 |
Total liability-related other changes | 10,074 | 8,842 |
Balance at end of year | $ 15,860 | $ 10,454 |
Other Current Liabilities (Deta
Other Current Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Other Current Liabilities | ||
Accrued payroll and related expenses | $ 18,515 | $ 10,681 |
Accrued mask, mold fees and other expenses for RD | 13,379 | 11,503 |
Payable for purchases of building and equipment | 3,481 | 1,599 |
Accrued software maintenance | 4,359 | 4,531 |
Allowance for sales discounts | 1,570 | 809 |
Lease liabilities | 4,602 | 3,068 |
Accrued insurance, welfare expenses, professional fee | 13,638 | 13,920 |
Other current liabilities | $ 59,544 | $ 46,111 |
Other Current Liabilities - All
Other Current Liabilities - Allowance for sales discounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Current Liabilities | |||
Balance at beginning of year | $ 809 | $ 896 | $ 494 |
Charges to earnings | 13,632 | 8,791 | 6,448 |
Amounts utilized | (12,871) | (8,878) | (6,046) |
Balance at end of year | $ 1,570 | $ 809 | $ 896 |
Short-Term Borrowings (Details)
Short-Term Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
IFRS Statement [Line Items] | |||
Secured borrowings | $ 151,400 | $ 104,000 | |
Secured Borrowings | |||
IFRS Statement [Line Items] | |||
Secured borrowings | 151,400 | 104,000 | $ 164,000 |
Short-term borrowings [member] | |||
IFRS Statement [Line Items] | |||
Secured borrowings | 151,400 | 104,000 | |
Unused credit lines | $ 277,362 | $ 280,921 | |
Short-term borrowings [member] | Bottom of range [member] | |||
IFRS Statement [Line Items] | |||
Interest rate | 0.32% | 0.33% | |
Short-term borrowings [member] | Top of range [member] | |||
IFRS Statement [Line Items] | |||
Interest rate | 0.38% | 0.40% |
Short-Term Borrowings - Reconci
Short-Term Borrowings - Reconciliation of liabilities to cash flows arising from financing activities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
IFRS Statement [Line Items] | ||
Balance at beginning of year | $ 10,454 | $ 4,220 |
Increase (decrease) through financing cash flows, liabilities arising from financing activities | 4,668 | 2,608 |
Balance at end of year | 15,860 | 10,454 |
Beginning balance | 104,000 | |
Other changes: | ||
Ending Balance | 151,400 | 104,000 |
Short-term borrowings [member] | ||
IFRS Statement [Line Items] | ||
Beginning balance | 104,000 | |
Other changes: | ||
Ending Balance | 151,400 | 104,000 |
Unsecured Borrowings | ||
IFRS Statement [Line Items] | ||
Beginning balance | 0 | 57,339 |
Change from financing activities: | ||
Proceeds from borrowings | 15,000 | 208,137 |
Repayments of borrowings | (15,000) | (265,355) |
Total changes from financing activities | 0 | (57,218) |
Other changes: | ||
Effect of exchange rate changes | (121) | |
Total liability-related other changes | (121) | |
Ending Balance | 0 | 0 |
Secured Borrowings | ||
IFRS Statement [Line Items] | ||
Beginning balance | 104,000 | 164,000 |
Change from financing activities: | ||
Proceeds from borrowings | 611,600 | 278,000 |
Repayments of borrowings | (564,200) | (338,000) |
Total changes from financing activities | 47,400 | (60,000) |
Other changes: | ||
Effect of exchange rate changes | 0 | |
Total liability-related other changes | 0 | |
Ending Balance | $ 151,400 | $ 104,000 |
Short-Term Borrowings - Additio
Short-Term Borrowings - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Short-Term Borrowings | ||
Cash and time deposits | $ 151,400 | $ 104,000 |
Unused Credit Lines Amount, Expired Amount | 21,676 | |
Assets needs to be secured when borrowings money from bank | $ 155,600 |
Long-Term Borrowings - (Details
Long-Term Borrowings - (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
IFRS Statement [Line Items] | ||
Less: current portion | $ (6,000) | $ (6,000) |
Total | 46,500 | 52,500 |
Long-term borrowings [member] | ||
IFRS Statement [Line Items] | ||
Unsecured borrowings | 52,500 | 58,500 |
Less: current portion | (6,000) | (6,000) |
Total | 46,500 | 52,500 |
Unused long-term credit lines | $ 40,000 | $ 40,000 |
Long-term borrowings [member] | Bottom of range [member] | ||
IFRS Statement [Line Items] | ||
Interest rate | 0.62467% | 0.68819% |
Long-term borrowings [member] | Top of range [member] | ||
IFRS Statement [Line Items] | ||
Interest rate | 0.73055% | 0.92112% |
Long-Term Borrowings- Reconcili
Long-Term Borrowings- Reconciliation of liabilities to cash flows arising from financing activities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
IFRS Statement [Line Items] | ||
Balance at beginning of year | $ 10,454 | $ 4,220 |
Long-term borrowings [member] | ||
IFRS Statement [Line Items] | ||
Balance at beginning of year | 58,500 | 0 |
Change from financing activities: | ||
Proceeds from borrowings | 60,000 | |
Repayments of borrowings | (6,000) | (1,500) |
Total changes from financing activities | (6,000) | 58,500 |
Ending Balance | $ 52,500 | $ 58,500 |
Long-Term Borrowings - Long-Ter
Long-Term Borrowings - Long-Term Borrowings (Details) - USD ($) $ in Thousands | Sep. 02, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Aug. 04, 2020 |
Chang Hwa Bank [Member] | ||||
IFRS Statement [Line Items] | ||||
Unsecured borrowings | $ 20,000 | $ 40,000 | ||
Debt instrument term | 10 years | |||
Long-term borrowings [member] | ||||
IFRS Statement [Line Items] | ||||
Unsecured borrowings | $ 52,500 | $ 58,500 | ||
Debt Instrument Collateral Amounts | $ 67,810 | $ 71,116 |
Employee benefits (Details)
Employee benefits (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Employee benefits | ||
Present value of the defined benefit obligations | $ 3,489 | $ 3,562 |
Fair value of plan assets | (4,065) | (3,952) |
Surplus (deficit) in plan | (576) | (390) |
Net defined benefit liabilities | 47 | |
Prepaid pension cost | (576) | (437) |
Aggregate Reconciliations of defined benefit obligation | $ (576) | $ (390) |
Employee benefits - Movements i
Employee benefits - Movements in present value of the defined benefit obligations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Employee benefits | ||
Balance at beginning of year | $ 3,562 | $ 3,142 |
Service costs | 6 | |
Interest expense | 15 | 27 |
Actuarial loss (gain) arising from: | ||
-Changes in demographic assumptions | 32 | 91 |
-Experience adjustment | 116 | 56 |
-Change in financial assumptions | (253) | 196 |
Effect of changes in exchange rates | 17 | 44 |
Balance at end of year | $ 3,489 | $ 3,562 |
Employee benefits - Movements_2
Employee benefits - Movements in the fair value of plan assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Employee benefits | ||
Balance at beginning of year | $ 3,952 | $ 3,730 |
Interest income | 17 | 31 |
Remeasurements gain : | ||
-Return on plan assets excluding interest income | 60 | 129 |
Contributions paid by the employer | 20 | 15 |
Effect of changes in exchange rate | 16 | 47 |
Balance at end of year | $ 4,065 | $ 3,952 |
Employee benefits - Expenses re
Employee benefits - Expenses recognized in profit or loss (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS Statement [Line Items] | |||
Interest income | $ 876 | $ 967 | $ 2,013 |
Cost of revenues | 798,519 | 666,501 | 533,916 |
Sales and marketing | 23,080 | 16,675 | 17,628 |
Defined Benefit Plan [Member] | |||
IFRS Statement [Line Items] | |||
Current service costs | 6 | 26 | |
Interest income | (2) | (4) | (19) |
Total Expenses | (2) | 2 | 7 |
Cost of revenues | 6 | 6 | 6 |
Research and development | (8) | (5) | 1 |
General and administrative | 1 | ||
Total Expenses | $ (2) | $ 2 | $ 7 |
Employee benefits - Remeasureme
Employee benefits - Remeasurement of net defined benefit liability recognized in other comprehensive income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
IFRS Statement [Line Items] | ||
Balance at beginning of year | $ 3,562 | $ 3,142 |
Balance at end of year | 3,489 | 3,562 |
Defined Benefit Plan [Member] | ||
IFRS Statement [Line Items] | ||
Balance at beginning of year | 116 | (60) |
Recognized during the period | (138) | 176 |
Balance at end of year | $ (22) | $ 116 |
Employee benefits - Actuarial a
Employee benefits - Actuarial assumptions (Details) | Dec. 31, 2021 | Dec. 31, 2020 |
Actuarial assumption of discount rates [member] | ||
IFRS Statement [Line Items] | ||
Discount rate | 0.42% | |
Actuarial assumption of discount rates [member] | Bottom of range [member] | ||
IFRS Statement [Line Items] | ||
Discount rate | 0.82% | |
Actuarial assumption of discount rates [member] | Top of range [member] | ||
IFRS Statement [Line Items] | ||
Discount rate | 0.85% | |
Actuarial assumption of expected rates of salary increases [member] | ||
IFRS Statement [Line Items] | ||
Rate of increase in compensation levels | 3.00% | 3.00% |
Employee benefits - Sensitivity
Employee benefits - Sensitivity analysis (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Defined benefit Plan +0.5% [Member] | ||
IFRS Statement [Line Items] | ||
Defined Benefit Plan Calculating Benefit Obligation Discount Rate | $ (290) | $ (306) |
Defined Benefit Plan Calculating Benefit Obligation Rate Of Compensation Increase | 310 | 328 |
Defined benefit Plan -0.5% [Member] | ||
IFRS Statement [Line Items] | ||
Defined Benefit Plan Calculating Benefit Obligation Discount Rate | 319 | 339 |
Defined Benefit Plan Calculating Benefit Obligation Rate Of Compensation Increase | $ (285) | $ (300) |
Employee benefits - Cash award
Employee benefits - Cash award expenses related to tax effects (Details) - USD ($) $ in Thousands | Sep. 28, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
cash award expenses included in applicable costs of revenues and expense categories and related tax effects | ||||
Cost of revenues | $ 798,519 | $ 666,501 | $ 533,916 | |
Research and development | 151,386 | 122,265 | 114,859 | |
Sales and marketing | 23,080 | 16,675 | 17,628 | |
Total compensation recognized in income | 146,809 | 103,357 | 95,117 | |
Income tax benefit | 110,657 | $ 11,712 | $ 416 | |
Cash Award Expenses | ||||
cash award expenses included in applicable costs of revenues and expense categories and related tax effects | ||||
Cost of revenues | 511 | |||
Research and development | 5,876 | |||
General and administrative | 678 | |||
Sales and marketing | 1,223 | |||
Total compensation recognized in income | 8,288 | |||
Income tax benefit | $ 1,444 | |||
Total annual bonus cash payouts | $ 47,657 | |||
Vested on grant date | $ 1,582 |
Employee benefits - Additional
Employee benefits - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jul. 01, 2005 | |
IFRS Statement [Line Items] | ||||
Labour And Social Welfare | $ 1,695 | $ 707 | $ 1,489 | |
Wages and salaries | 126,976 | 88,149 | 80,617 | |
Percentage Of Wages Contribution To Employee | 6.00% | |||
Post-employment benefit expense, defined contribution plans | 20 | |||
Deposits from banks | 4,065 | |||
Defined Contribution Plans [Member] | ||||
IFRS Statement [Line Items] | ||||
Other Foreign Subsidiaries Pension Expenses | 617 | 497 | 434 | |
Wages and salaries | $ 3,683 | $ 3,330 | $ 3,316 |
Share-Based Compensation (Detai
Share-Based Compensation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | |||
Cost of revenues | $ 798,519 | $ 666,501 | $ 533,916 |
Research and development | 151,386 | 122,265 | 114,859 |
General and administrative | 29,281 | 23,915 | 23,672 |
Sales and marketing | 23,080 | 16,675 | 17,628 |
Total compensation recognized in income | 38 | 8 | 5 |
Income tax benefit | 110,657 | 11,712 | 416 |
Share Based Compensation [Member] | |||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | |||
Cost of revenues | 682 | 87 | 9 |
Research and development | 17,662 | 4,467 | 339 |
General and administrative | 2,367 | 368 | 50 |
Sales and marketing | 3,163 | 603 | 59 |
Total compensation recognized in income | 23,874 | 5,525 | 457 |
Income tax benefit | $ 4,896 | $ 1,176 | $ 89 |
Share-Based Compensation - RSUs
Share-Based Compensation - RSUs activity under the long-term incentive plan (Details) - Restricted stock units [Member] | Sep. 28, 2021 | Sep. 28, 2020 | Sep. 26, 2018 | Sep. 29, 2017 | Sep. 28, 2016USD ($) | Dec. 31, 2021USD ($)$ / shares | Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2019USD ($)$ / shares |
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||
Number of Shares, Balance | $ | 22,889 | 18,493 | 60,338 | |||||
Number of Shares, Granted | 2,604,545 | 1,402,714 | 676,273 | 580,235 | 1,208,785 | 2,604,545 | 1,402,714 | |
Number of Shares, Vested | $ | (2,237,499) | (1,392,355) | (38,878) | |||||
Number of Shares, Forfeited | $ | (3,415) | (5,963) | (2,967) | |||||
Number of Shares, Balance | $ | 386,520 | 22,889 | 18,493 | |||||
Weighted Average Grant Date Fair Value, Balance | $ 3.88 | $ 7.34 | $ 7.98 | |||||
Weighted Average Grant Date Fair Value, Granted | 10.39 | 3.44 | ||||||
Weighted Average Grant Date Fair Value, Vested | 10.37 | 3.47 | 8.29 | |||||
Weighted Average Grant Date Fair Value, Forfeited | 4.38 | 6.57 | 7.98 | |||||
Weighted Average Grant Date Fair Value, Balance | $ 10.17 | $ 3.88 | $ 7.34 |
Share-Based Compensation - Allo
Share-Based Compensation - Allocation of compensation expenses and related tax effects from the RSUs granted to employees (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | |||
Cost of revenues | $ 798,519 | $ 666,501 | $ 533,916 |
Research and development | 151,386 | 122,265 | 114,859 |
General and administrative | 29,281 | 23,915 | 23,672 |
Sales and marketing | 23,080 | 16,675 | 17,628 |
Total compensation recognized in income | 38 | 8 | 5 |
Income tax benefit | 110,657 | 11,712 | 416 |
Restricted stock units [Member] | |||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | |||
Cost of revenues | 676 | 70 | |
Research and development | 17,592 | 3,924 | 86 |
General and administrative | 2,343 | 319 | 26 |
Sales and marketing | 3,149 | 520 | 19 |
Total compensation recognized in income | 23,760 | 4,833 | 131 |
Income tax benefit | $ 4,896 | $ 1,044 | $ 30 |
Share-Based Compensation - Valu
Share-Based Compensation - Valuation assumptions (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Stock Option 2019 Plan | |
Valuation assumptions: | |
Expected dividend yield | 3.50% |
Stock Option 2019 Plan | Minimum | |
Valuation assumptions: | |
Expected volatility | 51.96% |
Expected term (years) | 1 year |
Risk-free interest rate | 1.69% |
Stock Option 2019 Plan | Maximum | |
Valuation assumptions: | |
Expected volatility | 57.79% |
Expected term (years) | 1 year 6 months |
Risk-free interest rate | 1.75% |
Imaging Cayman | Stock Option 2016 Plan | |
Valuation assumptions: | |
Expected dividend yield | 0.00% |
Expected volatility | 38.04% |
Expected term (years) | 3 years 1 month 15 days |
Risk-free interest rate | 0.50% |
Imaging Taiwan | Stock Option 2016 Plan | |
Valuation assumptions: | |
Expected dividend yield | 0.00% |
Expected volatility | 38.04% |
Expected term (years) | 3 years 1 month 15 days |
Risk-free interest rate | 0.50% |
Himax Display | Stock Option 2015 Plan | |
Valuation assumptions: | |
Expected dividend yield | 0.00% |
Expected volatility | 33.52% |
Expected term (years) | 3 years 1 month 15 days |
Risk-free interest rate | 0.65% |
CM Visual Technology Corp | Stock options 2021 plan | |
Valuation assumptions: | |
Expected dividend yield | 0.00% |
Expected volatility | 43.82% |
Expected term (years) | 3 years 1 month 15 days |
Risk-free interest rate | 0.223% |
Liqxtal Technology Inc | Stock options 2021 plan | |
Valuation assumptions: | |
Expected dividend yield | 0.00% |
Expected volatility | 30.06% |
Expected term (years) | 1 year 3 months |
Risk-free interest rate | 0.107% |
Share-Based Compensation - Stoc
Share-Based Compensation - Stock option activity (Details) | Sep. 25, 2020$ / shares | Aug. 11, 2020$ / shares | Mar. 31, 2020$ / shares | Sep. 23, 2019USD ($) | Dec. 31, 2021$ / shares | Dec. 31, 2020$ / shares | Dec. 31, 2019$ / shares | Dec. 31, 2018$ / shares |
Stock Option 2019 Plan | ||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||
Number of units/shares, Balance | 578,468 | 2,226,690 | ||||||
Number of units/shares, Granted | 6,000,000 | 163,500 | 2,226,690 | |||||
Number of units/shares, Exercised | (524,387) | (1,574,869) | ||||||
Number of units/shares, Forfeited | (236,853) | |||||||
Number of units/shares, Expired | (54,081) | |||||||
Number of units/shares, Balance | 578,468 | 2,226,690 | ||||||
Weighted average exercise price, Balance | $ 2.36 | $ 2.27 | ||||||
Weighted average exercise price, Granted | $ 3.35 | $ 3.9 | $ 2.74 | 3.05 | $ 2.27 | |||
Weighted average exercise price, Exercised | 2.37 | 2.32 | ||||||
Weighted average exercise price, Forfeited | 2.30 | |||||||
Weighted average exercise price, Expired | $ 2.27 | |||||||
Weighted average exercise price, Balance | $ 2.36 | $ 2.27 | ||||||
Weighted average remaining contractual term, Granted (in years) | 10 months 17 days | 1 year 9 months | ||||||
Weighted average remaining contractual term, Balance (in years) | 0 years | 6 months 14 days | 1 year 6 months | |||||
Imaging Cayman | ||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||
Number of units/shares, Balance | 0 | 546,000 | ||||||
Number of units/shares, Granted | 0 | |||||||
Number of units/shares, Exercised | 0 | |||||||
Number of units/shares, Forfeited | (25,000) | |||||||
Number of units/shares, Expired | (521,000) | |||||||
Number of units/shares, Balance | 0 | 546,000 | ||||||
Number of units/shares, Exercisable | 0 | |||||||
Weighted average exercise price, Balance | $ 0 | $ 0.9139 | ||||||
Weighted average exercise price, Granted | 0 | |||||||
Weighted average exercise price, Exercised | 0 | |||||||
Weighted average exercise price, Forfeited | 0.9139 | |||||||
Weighted average exercise price, Expired | 0.9139 | |||||||
Weighted average exercise price, Balance | $ 0 | $ 0.9139 | ||||||
Weighted average exercise price, Exercisable | $ 0 | |||||||
Weighted average remaining contractual term, Balance (in years) | 0 years | 1 year | ||||||
Imaging Taiwan | ||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||
Number of units/shares, Exercisable | 0 | |||||||
Weighted average exercise price, Exercisable | $ 0 | |||||||
Imaging Taiwan | Stock Option 2016 Plan | ||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||
Number of units/shares, Balance | 0 | 15,000 | 1,359,000 | |||||
Number of units/shares, Granted | 0 | |||||||
Number of units/shares, Exercised | 0 | |||||||
Number of units/shares, Forfeited | (209,000) | |||||||
Number of units/shares, Expired | (15,000) | (1,135,000) | ||||||
Number of units/shares, Balance | 0 | 15,000 | 1,359,000 | |||||
Weighted average exercise price, Balance | $ 0 | $ 0.9139 | $ 0.9139 | |||||
Weighted average exercise price, Granted | 0 | |||||||
Weighted average exercise price, Exercised | 0 | |||||||
Weighted average exercise price, Forfeited | 0.9139 | |||||||
Weighted average exercise price, Expired | 0.9139 | 0.9139 | ||||||
Weighted average exercise price, Balance | $ 0 | $ 0.9139 | $ 0.9139 | |||||
Weighted average remaining contractual term, Balance (in years) | 0 years | 0 years | 1 year | |||||
Himax Display Inc | ||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||
Number of units/shares, Balance | 0 | 1,911,000 | ||||||
Number of units/shares, Granted | 0 | |||||||
Number of units/shares, Exercised | 0 | |||||||
Number of units/shares, Forfeited | (22,200) | |||||||
Number of units/shares, Expired | (1,888,800) | |||||||
Number of units/shares, Balance | 0 | 1,911,000 | ||||||
Number of units/shares, Exercisable | 0 | |||||||
Weighted average exercise price, Balance | $ 0 | $ 1.986 | ||||||
Weighted average exercise price, Granted | 0 | |||||||
Weighted average exercise price, Exercised | 0 | |||||||
Weighted average exercise price, Forfeited | 1.986 | |||||||
Weighted average exercise price, Expired | 1.986 | |||||||
Weighted average exercise price, Balance | 0 | $ 1.986 | ||||||
Weighted average exercise price, Exercisable | $ 0 | |||||||
Weighted average remaining contractual term, Balance (in years) | 9 months | |||||||
CM Visual Technology Corp | Stock options 2021 plan | ||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||
Number of units/shares, Granted | 2,791,000 | |||||||
Number of units/shares, Forfeited | (120,000) | |||||||
Number of units/shares, Balance | 2,671,000 | |||||||
Weighted average exercise price, Granted | $ 0.36 | |||||||
Weighted average exercise price, Forfeited | 0.36 | |||||||
Weighted average exercise price, Balance | $ 0.36 | |||||||
Weighted average remaining contractual term, Balance (in years) | 3 years 6 months | |||||||
Liqxtal Technology Inc | Stock options 2021 plan | ||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||
Number of units/shares, Granted | 1,000,000 | |||||||
Number of units/shares, Forfeited | (90,000) | |||||||
Number of units/shares, Balance | 910,000 | |||||||
Weighted average exercise price, Granted | $ 0.65 | |||||||
Weighted average exercise price, Forfeited | 0.65 | |||||||
Weighted average exercise price, Balance | $ 0.65 | |||||||
Weighted average remaining contractual term, Balance (in years) | 1 year |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Details) | Sep. 28, 2021USD ($) | Jun. 29, 2021 | Jun. 28, 2021USD ($)$ / sharesshares | Jun. 28, 2021$ / sharesshares | Mar. 19, 2021$ / sharesshares | Mar. 19, 2021$ / sharesshares | Sep. 28, 2020USD ($) | Sep. 25, 2020$ / sharesshares | Aug. 11, 2020$ / sharesshares | Mar. 31, 2020$ / sharesshares | Sep. 30, 2019$ / sharesshares | Sep. 23, 2019USD ($)shares | Sep. 26, 2018USD ($) | Sep. 29, 2017USD ($) | Sep. 28, 2016USD ($) | Jan. 01, 2016$ / sharesshares | Jan. 01, 2016$ / sharesshares | Oct. 06, 2015$ / sharesshares | Oct. 06, 2015$ / sharesshares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2018 | Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2018 | Sep. 30, 2017 |
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Compensation expenses | $ 38,000 | $ 8,000 | $ 5,000 | |||||||||||||||||||||||||||
Restricted stock units [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Compensation expenses | $ 23,760,000 | $ 4,833,000 | $ 131,000 | |||||||||||||||||||||||||||
Number of RSUs granted in share-based payment arrangement | 2,604,545 | 1,402,714 | 676,273 | 580,235 | 1,208,785 | 2,604,545 | 1,402,714 | |||||||||||||||||||||||
Percentage of restrictedstock units grant vested | 85.63 | 98.68 | 97.15 | 96.91 | 91.93 | |||||||||||||||||||||||||
percentage of vested settled by ordinary shares One | 0.95 | 4.79 | 0.44 | 1.03 | 2.69 | |||||||||||||||||||||||||
percentage of vested settled by ordinary shares Two | 1.03 | 4.79 | 0.44 | 0.95 | 2.69 | |||||||||||||||||||||||||
percentage of vested settled by ordinary shares Three | 2.69 | 4.79 | 0.44 | 0.95 | 1.03 | |||||||||||||||||||||||||
Estimated fairvalue market price of ADS | $ 10.39 | $ 3.44 | $ 5.76 | $ 10.93 | $ 8.30 | |||||||||||||||||||||||||
Restricted stock unit settle by shares | shares | 14,264 | 16,302 | 77,756 | |||||||||||||||||||||||||||
Weighted average remaining contractual life of unvested RSUs | 2 years 8 months 19 days | |||||||||||||||||||||||||||||
Compensation Cost Not Yet Recognized | $ 3,059,000 | |||||||||||||||||||||||||||||
Restricted stock units settled by cash | $ 23,174,000 | $ 4,762,000 | $ 3,778,000 | $ 6,147,000 | $ 9,223,000 | |||||||||||||||||||||||||
Himax Imaging [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Exercise price, share options granted | (per share) | $ 0.9139 | $ 30 | ||||||||||||||||||||||||||||
Number of share authorized | 1,760,000 | 1,760,000 | ||||||||||||||||||||||||||||
Himax Display | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Options Contractual Life | 4 years | 4 years | ||||||||||||||||||||||||||||
Share Options Vesting period | 3 years | 3 years | ||||||||||||||||||||||||||||
Share Based Compensation No Of Shares Authorized | shares | 2,528,000 | 2,528,000 | ||||||||||||||||||||||||||||
Exercise price, share options granted | (per share) | $ 1.986 | $ 65 | ||||||||||||||||||||||||||||
Liqxtal Technology Inc | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Compensation expenses | $ 43,000 | |||||||||||||||||||||||||||||
Stock Option 2016 Plan | Himax Imaging [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Options Contractual Life | 4 years | 4 years | ||||||||||||||||||||||||||||
Share Options Vesting period | 3 years | 3 years | ||||||||||||||||||||||||||||
Stock Option 2016 Plan | Himax Imaging [Member] | One And Half Years After Grant Date [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Vesting Rights Percentage | 50.00% | 50.00% | ||||||||||||||||||||||||||||
Stock Option 2016 Plan | Himax Imaging [Member] | Three Years After Grant Date [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Vesting Rights Percentage | 50.00% | 50.00% | ||||||||||||||||||||||||||||
Stock Option 2016 Plan | Himax Imaging [Member] | ROC Central Government [Member] | Bottom of range [member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Risk Free Interest Rate Expected Term | 2 years | 2 years | ||||||||||||||||||||||||||||
Stock Option 2016 Plan | Himax Imaging [Member] | ROC Central Government [Member] | Top of range [member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Risk Free Interest Rate Expected Term | 5 years | 5 years | ||||||||||||||||||||||||||||
Stock Option 2016 Plan | Imaging Taiwan | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Options Contractual Life | 4 years | 4 years | ||||||||||||||||||||||||||||
Share Options Vesting period | 3 years | 3 years | ||||||||||||||||||||||||||||
Share Based Compensation No Of Shares Authorized | shares | 2,040,000 | 2,040,000 | ||||||||||||||||||||||||||||
Exercise price, share options granted | (per share) | $ 0.9139 | $ 30 | ||||||||||||||||||||||||||||
Weighted average exercise price, Granted | $ / shares | $ 0 | |||||||||||||||||||||||||||||
Number of share authorized | 0 | |||||||||||||||||||||||||||||
Exercise price, share options granted | 0 | |||||||||||||||||||||||||||||
Weighted average remaining contractual life of unvested RSUs | 0 years | 0 years | 1 year | |||||||||||||||||||||||||||
Stock Option 2016 Plan | Imaging Taiwan | One And Half Years After Grant Date [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Vesting Rights Percentage | 50.00% | 50.00% | ||||||||||||||||||||||||||||
Stock Option 2016 Plan | Imaging Taiwan | Three Years After Grant Date [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Vesting Rights Percentage | 50.00% | 50.00% | ||||||||||||||||||||||||||||
Stock Option 2016 Plan | Imaging Taiwan | ROC Central Government [Member] | Bottom of range [member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Risk Free Interest Rate Expected Term | 2 years | 2 years | ||||||||||||||||||||||||||||
Stock Option 2016 Plan | Imaging Taiwan | ROC Central Government [Member] | Top of range [member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Risk Free Interest Rate Expected Term | 5 years | 5 years | ||||||||||||||||||||||||||||
Stock Option 2015 Plan | Himax Display | One And Half Years After Grant Date [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Vesting Rights Percentage | 50.00% | 50.00% | ||||||||||||||||||||||||||||
Stock Option 2015 Plan | Himax Display | Three Years After Grant Date [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Vesting Rights Percentage | 50.00% | 50.00% | ||||||||||||||||||||||||||||
Stock Option 2015 Plan | Himax Display | ROC Central Government [Member] | Bottom of range [member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Risk Free Interest Rate Expected Term | 2 years | 2 years | ||||||||||||||||||||||||||||
Stock Option 2015 Plan | Himax Display | ROC Central Government [Member] | Top of range [member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Risk Free Interest Rate Expected Term | 5 years | 5 years | ||||||||||||||||||||||||||||
Stock Option 2019 Plan | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Options Contractual Life | 2 years | |||||||||||||||||||||||||||||
Share Options Vesting period | 1 year | |||||||||||||||||||||||||||||
Exercise price, share options granted | $ / shares | $ 2.27 | |||||||||||||||||||||||||||||
Number of ADS authorized | shares | 3,000,000 | |||||||||||||||||||||||||||||
Number of ADS per stock options granted | shares | 10,000 | 39,000 | 114,500 | 2,226,690 | ||||||||||||||||||||||||||
Weighted average exercise price, Granted | $ / shares | $ 3.35 | $ 3.9 | $ 2.74 | $ 3.05 | $ 2.27 | |||||||||||||||||||||||||
Compensation expenses | $ 570,000 | $ 326,000 | ||||||||||||||||||||||||||||
Income tax benefits | $ 103,000 | $ 59,000 | ||||||||||||||||||||||||||||
Number of share authorized | 6,000,000 | 163,500 | 2,226,690 | |||||||||||||||||||||||||||
Exercise price, share options granted | 524,387 | 1,574,869 | ||||||||||||||||||||||||||||
Weighted average remaining contractual life of unvested RSUs | 0 years | 6 months 14 days | 1 year 6 months | |||||||||||||||||||||||||||
Stock Option 2019 Plan | Bottom of range [member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Risk Free Interest Rate Expected Term | 1 year | |||||||||||||||||||||||||||||
Stock Option 2019 Plan | Top of range [member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Risk Free Interest Rate Expected Term | 1 year 6 months | |||||||||||||||||||||||||||||
Stock Option 2019 Plan | One Years After Grant Date [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Vesting Rights Percentage | 50.00% | |||||||||||||||||||||||||||||
Stock Option 2019 Plan | Half years after grant date | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Vesting Rights Percentage | 50.00% | |||||||||||||||||||||||||||||
Stock option 2019 plan | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Compensation expenses | $ 122,000 | |||||||||||||||||||||||||||||
Income tax benefits | $ 29,000 | |||||||||||||||||||||||||||||
Stock options 2021 plan | CM Visual Technology Corp | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Options Contractual Life | 4 years | 4 years | ||||||||||||||||||||||||||||
Share Options Vesting period | 3 years | 3 years | ||||||||||||||||||||||||||||
Share Based Compensation No Of Shares Authorized | shares | 3,000,000 | 3,000,000 | ||||||||||||||||||||||||||||
Exercise price, share options granted | (per share) | $ 0.36 | $ 10 | ||||||||||||||||||||||||||||
Weighted average exercise price, Granted | $ / shares | $ 0.36 | |||||||||||||||||||||||||||||
Compensation expenses | $ 71,000 | |||||||||||||||||||||||||||||
Income tax benefits | $ 0 | |||||||||||||||||||||||||||||
Number of share authorized | 2,791,000 | |||||||||||||||||||||||||||||
Weighted average remaining contractual life of unvested RSUs | 3 years 6 months | |||||||||||||||||||||||||||||
Stock options 2021 plan | CM Visual Technology Corp | One And Half Years After Grant Date [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Vesting Rights Percentage | 50.00% | 50.00% | ||||||||||||||||||||||||||||
Stock options 2021 plan | CM Visual Technology Corp | Three Years After Grant Date [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Vesting Rights Percentage | 50.00% | 50.00% | ||||||||||||||||||||||||||||
Stock options 2021 plan | CM Visual Technology Corp | ROC Central Government [Member] | Bottom of range [member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Risk Free Interest Rate Expected Term | 2 years | 2 years | ||||||||||||||||||||||||||||
Stock options 2021 plan | CM Visual Technology Corp | ROC Central Government [Member] | Top of range [member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Risk Free Interest Rate Expected Term | 5 years | 5 years | ||||||||||||||||||||||||||||
Stock options 2021 plan | Liqxtal Technology Inc | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Options Contractual Life | 1 year 6 months | |||||||||||||||||||||||||||||
Share Options Vesting period | 1 year | |||||||||||||||||||||||||||||
Share Based Compensation No Of Shares Authorized | shares | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||||||
Exercise price, share options granted | (per share) | $ 0.65 | $ 18 | ||||||||||||||||||||||||||||
Weighted average exercise price, Granted | $ / shares | $ 0.65 | |||||||||||||||||||||||||||||
Number of share authorized | 1,000,000 | |||||||||||||||||||||||||||||
Weighted average remaining contractual life of unvested RSUs | 1 year | |||||||||||||||||||||||||||||
Stock options 2021 plan | Liqxtal Technology Inc | One Years After Grant Date [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Vesting Rights Percentage | 100.00% | |||||||||||||||||||||||||||||
Stock options 2021 plan | Liqxtal Technology Inc | ROC Central Government [Member] | ||||||||||||||||||||||||||||||
Disclosure Of Share Based Payment Arrangements Explanatory [Line Items] | ||||||||||||||||||||||||||||||
Share Based Compensation Risk Free Interest Rate Expected Term | 2 years |
Equity (Details)
Equity (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
IFRS Statement [Line Items] | ||
From share of changes in equities of associates | $ 3,921 | |
Additional paid-in capital | $ 108,841 | 107,293 |
Ordinary Share [Member] | ||
IFRS Statement [Line Items] | ||
From ordinary shares | 93,341 | 93,341 |
Treasury shares [member] | ||
IFRS Statement [Line Items] | ||
From treasury shares | 6,911 | 6,422 |
Share of Changes in Equities of Associates [Member] | ||
IFRS Statement [Line Items] | ||
From share of changes in equities of associates | 538 | 141 |
Share Based Compensation [Member] | ||
IFRS Statement [Line Items] | ||
From share-based compensation | $ 8,051 | $ 7,389 |
Equity - Accumulated other comp
Equity - Accumulated other comprehensive income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS Statement [Line Items] | |||
Beginning balance | $ (548) | ||
Exchange differences arising on translation of foreign operations | 0 | $ 44 | |
Changes in fair value of financial assets | (2) | (2) | $ (5) |
Remeasurement of defined benefit pension plans | 5 | (1) | 17 |
Ending balance | (666) | (548) | |
Accumulated other Comprehensive income [member] | |||
IFRS Statement [Line Items] | |||
Beginning balance | (548) | (952) | (549) |
Exchange differences arising on translation of foreign operations | (72) | 512 | (545) |
Changes in fair value of financial assets | (179) | 67 | (30) |
Remeasurement of defined benefit pension plans | 133 | (175) | 172 |
Ending balance | (666) | (548) | (952) |
Defined benefit pension plans | |||
IFRS Statement [Line Items] | |||
Beginning balance | 105 | 280 | 108 |
Exchange differences arising on translation of foreign operations | 0 | 0 | 0 |
Changes in fair value of financial assets | 0 | 0 | 0 |
Remeasurement of defined benefit pension plans | 133 | (175) | 172 |
Ending balance | 238 | 105 | 280 |
Unrealized gain (losses) on securities [Member] | |||
IFRS Statement [Line Items] | |||
Beginning balance | (869) | (936) | (906) |
Exchange differences arising on translation of foreign operations | 0 | 0 | 0 |
Changes in fair value of financial assets | (179) | 67 | (30) |
Remeasurement of defined benefit pension plans | 0 | 0 | 0 |
Ending balance | (1,048) | (869) | (936) |
Foreign currency translation [member] | |||
IFRS Statement [Line Items] | |||
Beginning balance | 216 | (296) | 249 |
Exchange differences arising on translation of foreign operations | (72) | 512 | (545) |
Changes in fair value of financial assets | 0 | 0 | 0 |
Remeasurement of defined benefit pension plans | 0 | 0 | 0 |
Ending balance | $ 144 | $ 216 | $ (296) |
Equity - Noncontrolling interes
Equity - Noncontrolling interest (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Equity | |||
Balance at the beginning of year | $ 5,023 | $ (1,743) | $ (4,261) |
Equity attributable to non-controlling interests | |||
Loss for the year | (2,961) | (1,974) | (2,570) |
Transfer of financial liability to noncontrolling interests | 0 | 0 | 5,071 |
Changes in fair value of financial assets | (2) | (2) | (5) |
Remeasurement of defined benefit pension plans | 5 | (1) | 17 |
Share-based compensation expenses | 38 | 8 | 5 |
New shares issued by subsidiary | 0 | 8,695 | |
Purchase of subsidiary shares from noncontrolling interests | 175 | 0 | |
Exchange differences arising on translation of foreign operations | 0 | 44 | |
Declaration of cash dividends | (20) | (4) | 0 |
Balance at the end of year | $ 2,258 | $ 5,023 | $ (1,743) |
Equity - Additional Information
Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
IFRS Statement [Line Items] | ||||
Par value per share | $ 0.3 | $ 0.3 | ||
Number of shares authorised | 1,000,000,000 | 1,000,000,000 | ||
Accumulated Legal and special reserve | $ 85,200 | $ 79,931 | ||
Proportion of ownership interest in associate | 100.00% | |||
Percentage Of Annual Net Income Set Aside As Legal Reserve | 10.00% | |||
Cash dividend | $ 47,404 | |||
Cash dividend, per shares | $ 0.136 | |||
Issued capital [member] | ||||
IFRS Statement [Line Items] | ||||
Par value per share | $ 0.3 | $ 0.3 | ||
Number of shares outstanding | 348,597,140 | 347,534,102 | ||
Number of shares issued | 356,699,482 | 356,699,482 | ||
Treasury shares [member] | ||||
IFRS Statement [Line Items] | ||||
Number of shares outstanding | (8,102,000) | (9,166,000) | (12,332,000) | (12,409,000) |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current tax expense | |||
Current period | $ 102,297 | $ 13,599 | $ 1,461 |
Adjustment for prior periods | 12 | (363) | (126) |
Current tax expense (income) and adjustments for current tax of prior periods | 102,309 | 13,236 | 1,335 |
Deferred tax expense | |||
Origination and reversal of temporary differences | 310 | 370 | 247 |
Investment tax credits and operating loss carryforward | 8,038 | (1,894) | (1,166) |
Deferred tax expense (income) | 8,348 | (1,524) | (919) |
Total income tax expense | $ 110,657 | $ 11,712 | $ 416 |
Income Taxes - Income taxes exp
Income Taxes - Income taxes expense (benefit) recognized directly in other comprehensive income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Items that will not be reclassified to profit or loss: | |||
Remeasurements of defined benefit pension plans | $ 27 | $ (38) | $ 25 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of the expected income tax expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Taxes | |||
Income tax expense calculated at the statutory rate | 20.00% | 20.00% | 20.00% |
Tax on undistributed earnings | 4.20% | 3.00% | 8.00% |
Tax benefit resulting from setting aside legal reserve from prior year's income | 0.00% | 0.00% | 0.30% |
Tax benefit resulting from offsetting prior year's undistributed earning tax with current year's loss | 0.00% | 0.00% | 2.80% |
Tax benefit resulting from actual investment from prior year's undistributed earnings | 0.00% | 0.00% | 0.00% |
Increase in tax credits | (3.30%) | (12.10%) | 17.10% |
Effect of change of unrecognized deductible temporary differences, tax losses carryforwards, and investment tax credits | 0.70% | 8.70% | (40.90%) |
Net of non-taxable income and non-deductible expense | (2.00%) | 0.20% | (2.20%) |
Changes in unrecognized tax benefits related to prior year tax positions, net of its impact to tax-exempted income | 0.50% | (1.20%) | (1.20%) |
Foreign tax rate differential | 0.20% | 1.50% | (3.50%) |
Variance from audits, amendments and examinations of prior years' income tax filings | 0.00% | (0.60%) | (2.30%) |
Others | 0.00% | 1.10% | (0.70%) |
Effective tax rate | 20.30% | 20.60% | (2.60%) |
Profit (loss) before income taxes | $ 544,592 | $ 56,872 | $ (15,768) |
Income tax expense calculated at the statutory rate | 108,919 | 11,374 | (3,154) |
Tax on undistributed earnings | 22,648 | 1,727 | (1,261) |
Tax benefit resulting from setting aside legal reserve from prior year's income | (267) | (51) | |
Tax benefit resulting from offsetting prior year's undistributed earning tax with current year's loss | 0 | (443) | |
Tax benefit resulting from actual investment from prior year's undistributed earnings | (161) | ||
Increase in tax credits | (17,934) | (6,895) | (2,698) |
Effect of change of unrecognized deductible temporary differences, tax losses carryforwards, and investment tax credits | 3,668 | 4,954 | 6,455 |
Net of non-taxable income and non-deductible expense | 10,680 | 129 | 343 |
Changes in unrecognized tax benefits related to prior year tax positions, net of its impact to tax-exempted income | 2,763 | (709) | 194 |
Foreign tax rate differential | 837 | 881 | 548 |
Variance from audits, amendments and examinations of prior years' income tax filings | 440 | (363) | 368 |
Others | 424 | 614 | 115 |
Income tax expense | $ 110,657 | $ 11,712 | $ 416 |
Income Taxes - Components of de
Income Taxes - Components of deferred tax assets and deferred tax liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax assets: | ||
Inventory | $ 2,955 | $ 4,426 |
Tax credit carryforwards | 0 | 7,780 |
Operating loss carryforward-statutory tax | 755 | 1,013 |
Accrued compensated absences | 901 | 735 |
Allowance for sales discounts | 720 | 411 |
Depreciation | 601 | 561 |
Unrealized foreign exchange loss | 0 | 179 |
Others | 1,259 | 634 |
Deferred tax assets | 7,191 | 15,739 |
Deferred tax liabilities: | ||
Acquired intangible assets | (756) | (1,014) |
Remeasurement of defined benefit plans | (138) | (107) |
Unrealized foreign exchange gain | (71) | (17) |
Deferred tax liabilities | $ (965) | $ (1,138) |
Income Taxes - Changes in defer
Income Taxes - Changes in deferred tax assets and liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
IFRS Statement [Line Items] | ||
Beginning balance | $ 14,601 | $ 13,039 |
Recognized in profit or loss | (8,348) | 1,524 |
Recognized in other comprehensive income | (27) | 38 |
Ending balance | 6,226 | 14,601 |
Inventory [Member] | ||
IFRS Statement [Line Items] | ||
Beginning balance | 4,426 | 5,089 |
Recognized in profit or loss | (1,471) | (663) |
Recognized in other comprehensive income | 0 | 0 |
Ending balance | 2,955 | 4,426 |
Tax credit carryforwards [Member] | ||
IFRS Statement [Line Items] | ||
Beginning balance | 7,780 | 5,645 |
Recognized in profit or loss | (7,780) | 2,135 |
Recognized in other comprehensive income | 0 | 0 |
Ending balance | 0 | 7,780 |
Operating loss carryforward [member] | ||
IFRS Statement [Line Items] | ||
Beginning balance | 1,013 | 1,254 |
Recognized in profit or loss | (258) | (241) |
Recognized in other comprehensive income | 0 | 0 |
Ending balance | 755 | 1,013 |
Accrued compensated absences [Member] | ||
IFRS Statement [Line Items] | ||
Beginning balance | 735 | 588 |
Recognized in profit or loss | 166 | 147 |
Recognized in other comprehensive income | 0 | 0 |
Ending balance | 901 | 735 |
Allowance for sales discounts [Member] | ||
IFRS Statement [Line Items] | ||
Beginning balance | 411 | 576 |
Recognized in profit or loss | 309 | (165) |
Recognized in other comprehensive income | 0 | 0 |
Ending balance | 720 | 411 |
Depreciation [Member] | ||
IFRS Statement [Line Items] | ||
Beginning balance | 561 | 521 |
Recognized in profit or loss | 40 | 40 |
Recognized in other comprehensive income | 0 | 0 |
Ending balance | 601 | 561 |
Unrealised Foreign Exchange Gains Losses Member | ||
IFRS Statement [Line Items] | ||
Beginning balance | 162 | 102 |
Recognized in profit or loss | (233) | 60 |
Recognized in other comprehensive income | 0 | 0 |
Ending balance | (71) | 162 |
Remeasurement of defined benefit plans [Member] | ||
IFRS Statement [Line Items] | ||
Beginning balance | (107) | (139) |
Recognized in profit or loss | (4) | (6) |
Recognized in other comprehensive income | (27) | 38 |
Ending balance | (138) | (107) |
Acquired Intangible Assets [Member] | ||
IFRS Statement [Line Items] | ||
Beginning balance | (1,014) | (1,255) |
Recognized in profit or loss | 258 | 241 |
Recognized in other comprehensive income | 0 | 0 |
Ending balance | (756) | (1,014) |
Others [member] | ||
IFRS Statement [Line Items] | ||
Beginning balance | 634 | 658 |
Recognized in profit or loss | 625 | (24) |
Recognized in other comprehensive income | 0 | 0 |
Ending balance | $ 1,259 | $ 634 |
Income Taxes - Unrecognized Def
Income Taxes - Unrecognized Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Unused tax credits [member] | ||
IFRS Statement [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognised | $ 1,560 | $ 1,560 |
Unused operating loss carryforwards-statutory tax [Member] | ||
IFRS Statement [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognised | 246,023 | 241,371 |
Unused operating loss carryforwards-undistributed earnings tax [Member] | ||
IFRS Statement [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognised | 283,578 | 261,659 |
Others [member] | ||
IFRS Statement [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognised | 30,364 | 29,897 |
Total [Member] | ||
IFRS Statement [Line Items] | ||
Deductible temporary differences for which no deferred tax asset is recognised | $ 561,525 | $ 534,487 |
Income Taxes- Expiration period
Income Taxes- Expiration period for unrecognized deferred tax assets (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
IFRS Statement [Line Items] | |
Unrecognized deferred tax assets | $ 50,610 |
Taiwan [Member] | Expiration Year 2022 To 2026 [Member] | |
IFRS Statement [Line Items] | |
Deductible amount | 103,870 |
Unrecognized deferred tax assets | $ 20,774 |
Expiration year | 2022~2026 |
Taiwan [Member] | Expiration Year 2027 To 2031 [Member] | |
IFRS Statement [Line Items] | |
Deductible amount | $ 107,909 |
Unrecognized deferred tax assets | $ 21,582 |
Expiration year | 2027~2031 |
Hong Kong [Member] | |
IFRS Statement [Line Items] | |
Deductible amount | $ 1,818 |
Unrecognized deferred tax assets | $ 150 |
Expiration year | Indefinitely |
U.S. [Member] | Expiration Year 2024 To 2041 [Member] | |
IFRS Statement [Line Items] | |
Deductible amount | $ 12,451 |
Unrecognized deferred tax assets | $ 3,510 |
Expiration year | 2024~2041 |
Israel [Member] | |
IFRS Statement [Line Items] | |
Deductible amount | $ 19,975 |
Unrecognized deferred tax assets | $ 4,594 |
Expiration year | Indefinitely |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS Statement [Line Items] | |||
Undistributed Earning of Foreign Subsidiaries | $ 1,096,052 | ||
Tax rate effect of expense not deductible in determining taxable profit (tax loss) | (2.00%) | 0.20% | (2.20%) |
Period for extension for the existing tax credits | 10 years | ||
Period for deduction of tax on undistributed earnings invested in substantive investment | 3 years | ||
Tax credit for investment amount eligible for smart machinery for current year (as a percent) | 5.00% | ||
Tax credit for investment amount eligible for smart machinery for 3 consecutive year (as a percent) | 3.00% | ||
Number of consecutive year when tax credit is 3% | 3 years | ||
Maximum tax credit for smart machinery combined with R&D tax credit (as a percent) | 50.00% | ||
Unused tax credits [member] | |||
IFRS Statement [Line Items] | |||
Unused tax credits for which no deferred tax asset recognised | $ 1,560 | ||
Description of expiry date of deductible temporary differences, unused tax losses and unused tax credits | 2022 to 2034 | ||
Bottom of range [member] | |||
IFRS Statement [Line Items] | |||
Tax rate effect of expense not deductible in determining taxable profit (tax loss) | 20.00% |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
IFRS Statement [Line Items] | ||||
Financial assets measured at fair value through profit or loss (including current and noncurrent) | $ 16,013 | $ 21,765 | ||
Financial assets measured at fair value through other comprehensive income | 410 | 742 | ||
Measured at amortized cost: | ||||
Cash and cash equivalents | 336,024 | 184,938 | $ 101,055 | $ 106,437 |
Financial asset at amortized cost | 26,013 | 8,682 | ||
Accounts receivable and other receivables (including related parties) | 410,211 | 243,626 | ||
Restricted deposit (including current and noncurrent) | 221,946 | 175,257 | ||
Total | 1,187,368 | 584,574 | ||
Financial assets at amortised cost, category [member] | ||||
Measured at amortized cost: | ||||
Cash and cash equivalents | 336,024 | 184,938 | ||
Financial asset at amortized cost | 26,013 | 8,682 | ||
Accounts receivable and other receivables (including related parties) | 423,357 | 252,162 | ||
Restricted deposit (including current and noncurrent) | 154,136 | 104,141 | ||
Refundable deposits (including current and noncurrent) | 231,415 | 12,144 | ||
Subtotal | $ 1,170,945 | $ 562,067 |
Financial Instruments - Financi
Financial Instruments - Financial liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Measured at amortized cost: | |||
Short-term secured borrowings | $ 151,400 | $ 104,000 | |
Accounts payables and other payables (including related parties) | 305,755 | 222,739 | |
Long-term unsecured borrowings (including current portion) | 52,500 | 58,500 | |
Lease liabilities (including current and noncurrent) | 15,860 | 10,454 | |
Guarantee deposits | 55,215 | 5,765 | |
Total | 580,730 | 401,458 | |
Unsecured Borrowings | |||
Measured at amortized cost: | |||
Short-term unsecured borrowings | 0 | 0 | $ 57,339 |
Secured Borrowings | |||
Measured at amortized cost: | |||
Short-term secured borrowings | $ 151,400 | $ 104,000 | $ 164,000 |
Financial Instruments - Liquidi
Financial Instruments - Liquidity risk (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Non derivative financial Liabilities [Abstract] | |||
Short-term secured borrowings | $ 151,400 | $ 104,000 | |
Long-term unsecured borrowings (including current portion) | 52,500 | 58,500 | |
Lease liabilities | 15,860 | 10,454 | |
Guarantee deposits | 55,215 | 5,765 | |
Unsecured Borrowings | |||
Non derivative financial Liabilities [Abstract] | |||
Short-term unsecured borrowings | 0 | 0 | $ 57,339 |
Secured Borrowings | |||
Non derivative financial Liabilities [Abstract] | |||
Short-term secured borrowings | 151,400 | 104,000 | $ 164,000 |
Not later than Six months [Member] | |||
Non derivative financial Liabilities [Abstract] | |||
Short-term secured borrowings | 111,582 | 104,106 | |
Lease liabilities | 2,460 | 1,600 | |
Guarantee deposits | 1,165 | 5,765 | |
Non-derivative financial liabilities, undiscounted cash flows | 118,374 | 114,687 | |
Not later than Six months [Member] | Unsecured Borrowings | |||
Non derivative financial Liabilities [Abstract] | |||
Long-term unsecured borrowings (including current portion) | 3,167 | 3,216 | |
Later than six months and not later than one year [member] | |||
Non derivative financial Liabilities [Abstract] | |||
Short-term secured borrowings | 40,019 | 0 | |
Lease liabilities | 2,298 | 1,603 | |
Guarantee deposits | 0 | 0 | |
Non-derivative financial liabilities, undiscounted cash flows | 45,476 | 4,812 | |
Later than six months and not later than one year [member] | Unsecured Borrowings | |||
Non derivative financial Liabilities [Abstract] | |||
Long-term unsecured borrowings (including current portion) | 3,159 | 3,209 | |
Later than one year and not later than two years [member] | |||
Non derivative financial Liabilities [Abstract] | |||
Lease liabilities | 3,881 | 4,538 | |
Guarantee deposits | 5,840 | 0 | |
Non-derivative financial liabilities, undiscounted cash flows | 16,008 | 10,917 | |
Later than one year and not later than two years [member] | Unsecured Borrowings | |||
Non derivative financial Liabilities [Abstract] | |||
Long-term unsecured borrowings (including current portion) | 6,287 | 6,379 | |
Later than two years and not later than five years [member] | |||
Non derivative financial Liabilities [Abstract] | |||
Lease liabilities | 7,513 | 2,984 | |
Guarantee deposits | 48,210 | 0 | |
Non-derivative financial liabilities, undiscounted cash flows | 74,347 | 21,846 | |
Later than two years and not later than five years [member] | Unsecured Borrowings | |||
Non derivative financial Liabilities [Abstract] | |||
Long-term unsecured borrowings (including current portion) | 18,624 | 18,862 | |
Later than five years [member] | |||
Non derivative financial Liabilities [Abstract] | |||
Short-term secured borrowings | 0 | 0 | |
Lease liabilities | 22 | 0 | |
Guarantee deposits | 0 | 0 | |
Non-derivative financial liabilities, undiscounted cash flows | 22,800 | 29,018 | |
Later than five years [member] | Unsecured Borrowings | |||
Non derivative financial Liabilities [Abstract] | |||
Long-term unsecured borrowings (including current portion) | 22,778 | 29,018 | |
Contractual Cash Flows [Member] | |||
Non derivative financial Liabilities [Abstract] | |||
Short-term secured borrowings | 151,601 | 104,106 | |
Lease liabilities | 16,174 | 10,725 | |
Guarantee deposits | 55,215 | 5,765 | |
Non-derivative financial liabilities, undiscounted cash flows | 277,005 | 181,280 | |
Contractual Cash Flows [Member] | Unsecured Borrowings | |||
Non derivative financial Liabilities [Abstract] | |||
Long-term unsecured borrowings (including current portion) | $ 54,015 | $ 60,684 |
Financial Instruments - Currenc
Financial Instruments - Currency risk (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |
NTD [Member] | Financial liabilities [Member] | ||
IFRS Statement [Line Items] | ||
Foreign currency | $ 3,450,959 | $ 1,084,594 |
Exchange rate | 27.68 | 28.48 |
Functional currency | $ 124,672 | $ 38,083 |
NTD [Member] | Financial assets [Member] | ||
IFRS Statement [Line Items] | ||
Foreign currency | $ 447,596 | $ 155,418 |
Exchange rate | 27.68 | 28.48 |
Functional currency | $ 16,170 | $ 5,457 |
CNY [Member] | Financial assets [Member] | ||
IFRS Statement [Line Items] | ||
Foreign currency | $ 36,450 | $ 35,630 |
Exchange rate | 6.3941 | 6.5428 |
Functional currency | $ 5,701 | $ 5,461 |
JPY [Member] | Financial liabilities [Member] | ||
IFRS Statement [Line Items] | ||
Foreign currency | $ 1,459,700 | $ 632,215 |
Exchange rate | 115.0936 | 103.0786 |
Functional currency | $ 12,683 | $ 6,133 |
Financial Instruments - Finan_2
Financial Instruments - Financial instruments measured at fair value (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financial assets measured at fair value through profit or loss | ||
Money market fund | $ 2,345 | $ 7,799 |
Equity securities-unlisted company | 13,668 | 13,966 |
Subtotal | 16,013 | 21,765 |
Financial assets measured at fair value through other comprehensive income | ||
Equity securities-unlisted company | 410 | 742 |
Total | 16,423 | 22,507 |
Level 1 [Member] | ||
Financial assets measured at fair value through profit or loss | ||
Money market fund | 2,345 | 7,799 |
Equity securities-unlisted company | 0 | |
Subtotal | 2,345 | 7,799 |
Financial assets measured at fair value through other comprehensive income | ||
Equity securities-unlisted company | 0 | |
Total | 2,345 | 7,799 |
Level 2 [Member] | ||
Financial assets measured at fair value through profit or loss | ||
Money market fund | 0 | |
Equity securities-unlisted company | 0 | |
Subtotal | 0 | |
Financial assets measured at fair value through other comprehensive income | ||
Equity securities-unlisted company | 0 | |
Total | 0 | |
Level 3 [member] | ||
Financial assets measured at fair value through profit or loss | ||
Money market fund | 0 | |
Equity securities-unlisted company | 13,668 | 13,966 |
Subtotal | 13,668 | 13,966 |
Financial assets measured at fair value through other comprehensive income | ||
Equity securities-unlisted company | 410 | 742 |
Total | $ 14,078 | $ 14,708 |
Financial Instruments - Movemen
Financial Instruments - Movement in financial assets included in Level 3 of fair value hierarchy (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS Statement [Line Items] | |||
Beginning balance | $ 584,574 | ||
Ending balance | 1,187,368 | $ 584,574 | |
Level 3 [member] | |||
IFRS Statement [Line Items] | |||
Beginning balance | 14,708 | 14,209 | |
Disposal-capital reduction of investment | (151) | (32) | |
Recognized in other comprehensive income | (181) | 65 | |
Recognized in profit or loss | 298 | 466 | |
Ending balance | 14,078 | 14,708 | $ 14,209 |
Financial assets at fair value through profit or loss, category [member] | |||
IFRS Statement [Line Items] | |||
Recognized in profit or loss | 284 | 472 | 3,732 |
Financial assets at fair value through profit or loss, category [member] | Level 3 [member] | |||
IFRS Statement [Line Items] | |||
Beginning balance | 13,966 | 13,500 | |
Disposal-capital reduction of investment | 0 | ||
Recognized in other comprehensive income | 0 | ||
Recognized in profit or loss | 298 | 466 | |
Ending balance | 13,668 | 13,966 | 13,500 |
Financial assets at fair value through other comprehensive income, category [member] | Level 3 [member] | |||
IFRS Statement [Line Items] | |||
Beginning balance | 742 | 709 | |
Disposal-capital reduction of investment | (151) | (32) | |
Recognized in other comprehensive income | (181) | 65 | |
Recognized in profit or loss | 0 | ||
Ending balance | $ 410 | $ 742 | $ 709 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
IFRS Statement [Line Items] | ||
Increase (decrease) through foreign exchange, financial assets | $ 11,548 | $ 3,330 |
Liquidity risk [member] | Interest rate, measurement input [member] | ||
IFRS Statement [Line Items] | ||
Significant unobservable input, assets | 28 | |
NTD [Member] | ||
IFRS Statement [Line Items] | ||
Percentage of depreciation appreciation against other country currency | 10.00% | 10.00% |
CNY [Member] | ||
IFRS Statement [Line Items] | ||
Percentage of depreciation appreciation against other country currency | 10.00% | 10.00% |
JPY [Member] | ||
IFRS Statement [Line Items] | ||
Percentage of depreciation appreciation against other country currency | 10.00% | 10.00% |
Floating interest rate [member] | ||
IFRS Statement [Line Items] | ||
Borrowings, adjustment to interest rate basis | 0.25% | |
Increase or decrease net profit through interest rate | $ 131 | $ 146 |
Financial Risk Management - Per
Financial Risk Management - Percentage of revenues (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Customer A and Its affiliates [Member] | |||
IFRS Statement [Line Items] | |||
Percentage of entity's revenue | 32.10% | 32.60% | 29.50% |
Customer C [Member] | |||
IFRS Statement [Line Items] | |||
Percentage of entity's revenue | 19.10% | 12.70% | 5.60% |
Financial Risk Management - P_2
Financial Risk Management - Percentage of accounts receivable (Details) | Dec. 31, 2021 | Dec. 31, 2020 |
Customer A and Its affiliates [Member] | ||
IFRS Statement [Line Items] | ||
Percentage Of Accounts Receivable | 39.00% | 36.30% |
Customer C [Member] | ||
IFRS Statement [Line Items] | ||
Percentage Of Accounts Receivable | 12.10% | 13.60% |
Capital management (Details)
Capital management (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Capital management | ||||
Total liabilities | $ 731,212 | $ 424,619 | ||
Less: cash and cash equivalents | 336,024 | 184,938 | $ 101,055 | $ 106,437 |
Total liabilities less current assets | 395,188 | 239,681 | ||
Equity attributable to owners of Himax Technologies, Inc. | $ 869,724 | $ 480,176 |
Related-party Transactions (Det
Related-party Transactions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS Statement [Line Items] | |||
Sales of goods | $ 125 | $ 0 | $ 0 |
Purchase of raw materials | 3,532 | 689 | |
Accounts payable | 265 | 1,568 | |
Revenue from miscellaneous service | 66 | ||
Miscellaneous fee | 795 | 84 | |
Other receivable | 17 | ||
Other payable | 1,641 | 2,572 | |
Current receivables due from related parties | 1,217 | 1,200 | |
Cheng Mei Materials Technology Corporation [Member] | |||
IFRS Statement [Line Items] | |||
Purchase of raw materials | 3,469 | 663 | |
Accounts payable | 233 | 1,530 | |
Miscellaneous fee | 791 | 84 | |
Associates [member] | |||
IFRS Statement [Line Items] | |||
Revenue from miscellaneous service | 63 | ||
Miscellaneous fee | 4 | ||
Other receivable | 14 | ||
ViewsilMicroelectronics (Kunshan) Limited [Member] | |||
IFRS Statement [Line Items] | |||
Technical service fee | 1,400 | 1,400 | $ 1,800 |
Other payable | 1,400 | 2,480 | |
Other related parties [member] | |||
IFRS Statement [Line Items] | |||
Sales of goods | 125 | ||
Accounts receivable | 71 | ||
Purchase of raw materials | 63 | 26 | |
Accounts payable | 32 | 38 | |
Revenue from miscellaneous service | 3 | ||
Other receivable | 3 | ||
Other payable | 241 | 92 | |
VST [Member] | |||
IFRS Statement [Line Items] | |||
Current receivables due from related parties | $ 1,200 | $ 1,200 |
Related-party Transactions - Co
Related-party Transactions - Compensation of key management personnel (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Related-party Transactions | |||
Short-term employee benefits | $ 1,068 | $ 884 | $ 822 |
Post-employment benefits | 12 | 9 | 7 |
Share-based compensation | 671 | 41 | 14 |
Total Key management personnel compensation | $ 1,751 | $ 934 | $ 843 |
Related-party Transactions- Add
Related-party Transactions- Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | 24 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2020 | |
IFRS Statement [Line Items] | |||
Purchases of goods, related party transactions | $ 3,532 | $ 689 | |
Key management Personnel Compensation Director | 150 | $ 135 | |
Cheng Mei Materials Technology Corporation [Member] | |||
IFRS Statement [Line Items] | |||
Purchases of goods, related party transactions | $ 3,469 | $ 663 |
Pledged assets (Details)
Pledged assets (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Pledged Assets [Line items] | ||
Short-term secured borrowings | $ 151,400 | $ 104,000 |
For foundry capacities | 2,700 | |
For customs duties | 36 | 141 |
Long-term unsecured borrowings | 46,500 | 52,500 |
Restricted cash and cash equivalents | 221,946 | 175,257 |
Land [member] | ||
Pledged Assets [Line items] | ||
Long-term unsecured borrowings | 27,500 | 27,500 |
Building and improvements. | ||
Pledged Assets [Line items] | ||
Long-term unsecured borrowings | $ 40,310 | $ 43,616 |
Commitments and Contingencies -
Commitments and Contingencies - (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Commitments and Contingencies | ||
Long-term contracts, contract price | $ 2,377,000 | $ 4,893,000 |
Long-term contracts, commitments amount | 2,030,000 | 3,902,000 |
Contractual obligation | 2,655,000,000 | $ 290,000,000 |
Amount of Obligations Expected To Be Paid in the next 12 months | $ 628,000,000 |
Segment, Product and Geograph_3
Segment, Product and Geographic Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of operating segments [line items] | |||
Segment revenues | $ 1,547,097 | $ 887,282 | $ 671,835 |
Segment operating income (loss) | 545,021 | 57,926 | (18,307) |
Non operating income (loss), net | (429) | (1,054) | 2,539 |
Consolidated profits before income taxes | 544,592 | 56,872 | (15,768) |
Significant noncash items: | |||
Share-based compensation | 700 | 763 | 457 |
Depreciation and amortization | 21,342 | 23,596 | 24,399 |
Driver IC [Member] | |||
Disclosure of operating segments [line items] | |||
Segment revenues | 1,361,442 | 756,522 | 544,727 |
Segment operating income (loss) | 551,943 | 98,687 | 29,070 |
Significant noncash items: | |||
Share-based compensation | 424 | 481 | 221 |
Depreciation and amortization | 5,598 | 5,959 | 5,511 |
Non-driver products [Member] | |||
Disclosure of operating segments [line items] | |||
Segment revenues | 185,655 | 130,760 | 127,108 |
Segment operating income (loss) | (6,922) | (40,761) | (47,377) |
Significant noncash items: | |||
Share-based compensation | 276 | 282 | 236 |
Depreciation and amortization | $ 15,744 | $ 17,637 | $ 18,888 |
Segment, Product and Geograph_4
Segment, Product and Geographic Information - Segment revenues from customers in different geographic region (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of operating segments [line items] | |||
Revenue | $ 1,547,097 | $ 887,282 | $ 671,835 |
China [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,261,098 | 707,002 | 472,372 |
Taiwan [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 219,106 | 123,180 | 129,257 |
Other Asia Pacific (Philippines, Korea and Japan) | |||
Disclosure of operating segments [line items] | |||
Revenue | 66,184 | 56,195 | 68,779 |
Europe and America [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 709 | 905 | 1,427 |
Driver IC [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,361,442 | 756,522 | 544,727 |
Driver IC [Member] | China [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,149,442 | 643,527 | 421,729 |
Driver IC [Member] | Taiwan [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 167,728 | 88,001 | 90,971 |
Driver IC [Member] | Other Asia Pacific (Philippines, Korea and Japan) | |||
Disclosure of operating segments [line items] | |||
Revenue | 44,272 | 24,964 | 31,861 |
Driver IC [Member] | Europe and America [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 30 | 166 | |
Non-driver products [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 185,655 | 130,760 | 127,108 |
Non-driver products [Member] | China [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 111,656 | 63,475 | 50,643 |
Non-driver products [Member] | Taiwan [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 51,378 | 35,179 | 38,286 |
Non-driver products [Member] | Other Asia Pacific (Philippines, Korea and Japan) | |||
Disclosure of operating segments [line items] | |||
Revenue | 21,912 | 31,231 | 36,918 |
Non-driver products [Member] | Europe and America [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | $ 709 | $ 875 | $ 1,261 |
Segment, Product and Geograph_5
Segment, Product and Geographic Information - Segment revenues from major product lines (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of operating segments [line items] | |||
Revenue | $ 1,547,097 | $ 887,282 | $ 671,835 |
Display drivers for large-sized applications [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 397,905 | 240,789 | 237,276 |
Display drivers for small and medium-sized applications [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 963,537 | 515,733 | 307,451 |
Non-driver products [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 185,655 | 130,760 | 127,108 |
Driver IC [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,361,442 | 756,522 | 544,727 |
Driver IC [Member] | Display drivers for large-sized applications [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 397,905 | 240,789 | 237,276 |
Driver IC [Member] | Display drivers for small and medium-sized applications [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 963,537 | 515,733 | 307,451 |
Driver IC [Member] | Non-driver products [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Non-driver products [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 185,655 | 130,760 | 127,108 |
Non-driver products [Member] | Display drivers for large-sized applications [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Non-driver products [Member] | Display drivers for small and medium-sized applications [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | 0 | 0 |
Non-driver products [Member] | Non-driver products [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | $ 185,655 | $ 130,760 | $ 127,108 |
Segment, Product and Geograph_6
Segment, Product and Geographic Information - Carrying values of the Company's tangible long-lived assets (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of operating segments [line items] | ||
Property, plant and equipment | $ 133,236 | $ 132,074 |
Taiwan [Member] | ||
Disclosure of operating segments [line items] | ||
Property, plant and equipment | 130,951 | 128,941 |
U.S. [Member] | ||
Disclosure of operating segments [line items] | ||
Property, plant and equipment | 1,163 | 1,413 |
China [Member] | ||
Disclosure of operating segments [line items] | ||
Property, plant and equipment | 662 | 878 |
Korea [Member] | ||
Disclosure of operating segments [line items] | ||
Property, plant and equipment | 343 | 524 |
Israel [Member] | ||
Disclosure of operating segments [line items] | ||
Property, plant and equipment | 65 | 167 |
Japan [Member] | ||
Disclosure of operating segments [line items] | ||
Property, plant and equipment | $ 52 | $ 151 |
Segment, Product and Geograph_7
Segment, Product and Geographic Information - Revenues from significant customers (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of operating segments [line items] | |||
Revenue | $ 1,547,097 | $ 887,282 | $ 671,835 |
Driver IC Segment [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 734,508 | 374,611 | 215,760 |
Driver IC Segment [Member] | Customer A and Its affiliates [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 443,930 | 264,700 | 182,442 |
Driver IC Segment [Member] | Customer C [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 290,578 | 109,911 | 33,318 |
Non-driver Products Segment [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 57,792 | 27,556 | 20,301 |
Non-driver Products Segment [Member] | Customer A and Its affiliates [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 53,153 | 24,963 | 15,988 |
Non-driver Products Segment [Member] | Customer C [Member] | |||
Disclosure of operating segments [line items] | |||
Revenue | $ 4,639 | $ 2,593 | $ 4,313 |
Segment, Product and Geograph_8
Segment, Product and Geographic Information - Accounts receivable from significant customers (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of operating segments [line items] | ||
Accounts receivable | $ 209,913 | $ 121,524 |
Customer A and Its affiliates [Member] | ||
Disclosure of operating segments [line items] | ||
Accounts receivable | 160,107 | 88,353 |
Customer C [Member] | ||
Disclosure of operating segments [line items] | ||
Accounts receivable | $ 49,806 | $ 33,171 |
Segment, Product and Geograph_9
Segment, Product and Geographic Information - Revenue from contracts with customers (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Segment, Product and Geographic Information | ||
Contract liabilities-current | $ 37,663 | $ 6,622 |
Contract liabilities-non-current | 10,221 | $ 0 |
Revenue that was included in contract liability balance at beginning of period | $ 6,146 |
The Nature of Expenses (Details
The Nature of Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS Statement [Line Items] | |||
Depreciation, property, plant and equipment | $ 19,604 | $ 21,873 | $ 22,186 |
Cost of Revenues [Member] | |||
IFRS Statement [Line Items] | |||
Depreciation, property, plant and equipment | 6,093 | 6,935 | 8,146 |
Operating Expenses [Member] | |||
IFRS Statement [Line Items] | |||
Depreciation, property, plant and equipment | $ 13,511 | $ 14,938 | $ 14,040 |
The Nature of Expenses - Amorti
The Nature of Expenses - Amortization of intangible assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS Statement [Line Items] | |||
Amortisation, intangible assets other than goodwill | $ 1,738 | $ 1,723 | $ 2,213 |
Cost of Revenues [Member] | |||
IFRS Statement [Line Items] | |||
Amortisation, intangible assets other than goodwill | 78 | 57 | 58 |
Operating Expenses [Member] | |||
IFRS Statement [Line Items] | |||
Amortisation, intangible assets other than goodwill | $ 1,660 | $ 1,666 | $ 2,155 |
The Nature of Expenses - Employ
The Nature of Expenses - Employee benefits expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
The Nature of Expenses | |||
Salary | $ 126,976 | $ 88,149 | $ 80,617 |
Labor and health insurance | 7,232 | 5,805 | 5,668 |
Pension | 5,993 | 4,536 | 5,246 |
Others | 6,608 | 4,867 | 3,586 |
Total compensation recognized in income | $ 146,809 | $ 103,357 | $ 95,117 |
The Nature of Expenses - Empl_2
The Nature of Expenses - Employee benefits expense summarized by function (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS Statement [Line Items] | |||
Employee benefits expense | $ 146,809 | $ 103,357 | $ 95,117 |
Cost of Revenues [Member] | |||
IFRS Statement [Line Items] | |||
Employee benefits expense | 7,856 | 5,579 | 5,597 |
Operating Expenses [Member] | |||
IFRS Statement [Line Items] | |||
Employee benefits expense | $ 138,953 | $ 97,778 | $ 89,520 |
Himax Technologies, Inc. (the_3
Himax Technologies, Inc. (the Parent Company only) - Condensed Statements of Financial Position (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
IFRS Statement [Line Items] | ||||
Cash | $ 336,024 | $ 184,938 | $ 101,055 | $ 106,437 |
Financial asset at amortized cost | 26,013 | 8,682 | ||
Other receivable from related party | 1,217 | 1,200 | ||
Other current assets | 64,280 | 35,368 | ||
Financial assets at fair value through profit or loss | 16,013 | 21,765 | ||
Total assets | 1,603,194 | 909,818 | ||
Current liabilities | 601,225 | 352,242 | ||
Short-term secured borrowings | 151,400 | 104,000 | ||
Total equity | 871,982 | 485,199 | 431,244 | 442,287 |
Total liabilities and equity | 1,603,194 | 909,818 | ||
Equity attributable to owners of parent [member] | ||||
IFRS Statement [Line Items] | ||||
Cash | 972 | 1,980 | 1,002 | 813 |
Financial asset at amortized cost | 5,659 | 5,405 | ||
Other current assets | 516 | 434 | ||
Financial assets at fair value through profit or loss | 12,269 | 12,412 | ||
Investments in subsidiaries and affiliates | 1,228,969 | 791,056 | ||
Total assets | 1,248,385 | 811,287 | ||
Current liabilities | 885 | 195 | ||
Current portion of long-term unsecured borrowings | 6,000 | 6,000 | ||
Short-term secured borrowings | 151,400 | 104,000 | ||
Debt borrowing from a subsidiary | 173,876 | 168,416 | ||
Long-term unsecured borrowings | 46,500 | 52,500 | ||
Total equity | 869,724 | 480,176 | $ 432,987 | $ 446,548 |
Total liabilities and equity | $ 1,248,385 | $ 811,287 |
Himax Technologies, Inc. (the_4
Himax Technologies, Inc. (the Parent Company only) - Condensed Statements of Profit or Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS Statement [Line Items] | |||
Revenues | $ 1,547,097 | $ 887,282 | $ 671,835 |
Costs and expenses | 1,002,076 | 829,356 | 690,142 |
Operating loss | 545,021 | 57,926 | (18,307) |
Interest income | 876 | 967 | 2,013 |
Changes in fair value of financial assets at fair value through profit or loss | (284) | 472 | 3,746 |
Foreign currency exchange gains (losses), net | 1,096 | (327) | (546) |
Finance costs | (1,074) | (1,705) | (2,325) |
Profit (loss) before income taxes | 544,592 | 56,872 | (15,768) |
Income tax expense | 110,657 | 11,712 | 416 |
Profit (loss) for the year | 433,935 | 45,160 | (16,184) |
Equity attributable to owners of parent [member] | |||
IFRS Statement [Line Items] | |||
Revenues | 0 | 0 | |
Costs and expenses | 1,037 | 704 | 1,206 |
Operating loss | (1,037) | (704) | (1,206) |
Interest income | 148 | 126 | 162 |
Changes in fair value of financial assets at fair value through profit or loss | (143) | 427 | 3,755 |
Foreign currency exchange gains (losses), net | 115 | 356 | (69) |
Finance costs | (1,320) | (3,629) | (4,165) |
Share of profits (loss) of subsidiaries and affiliates | 439,133 | 50,558 | (12,091) |
Profit (loss) before income taxes | 436,896 | 47,134 | (13,614) |
Income tax expense | 0 | 0 | |
Profit (loss) for the year | $ 436,896 | $ 47,134 | $ (13,614) |
Himax Technologies, Inc. (the_5
Himax Technologies, Inc. (the Parent Company only) - Condensed Statements of Other Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS Statement [Line Items] | |||
Profit (loss) for the year | $ 433,935 | $ 45,160 | $ (16,184) |
Other comprehensive income: | |||
Remeasurements of defined benefit pension plans | 165 | (214) | 214 |
Unrealized gain (loss) on financial assets at fair value through other comprehensive income | (181) | 65 | (35) |
Income tax related to items that will not be reclassified subsequently | (27) | 38 | (25) |
Foreign operations - foreign currency translation differences | (72) | 556 | (545) |
Other comprehensive income for the year, net of tax | (115) | 445 | (391) |
Total comprehensive income for the year | 433,820 | 45,605 | (16,575) |
Equity attributable to owners of parent [member] | |||
IFRS Statement [Line Items] | |||
Profit (loss) for the year | 436,896 | 47,134 | (13,614) |
Other comprehensive income: | |||
Remeasurements of defined benefit pension plans | 160 | (213) | 197 |
Unrealized gain (loss) on financial assets at fair value through other comprehensive income | (179) | 67 | (30) |
Income tax related to items that will not be reclassified subsequently | (27) | 38 | (25) |
Foreign operations - foreign currency translation differences | (72) | 512 | (545) |
Other comprehensive income for the year, net of tax | (118) | 404 | (403) |
Total comprehensive income for the year | $ 436,778 | $ 47,538 | $ (14,017) |
Himax Technologies, Inc. (the_6
Himax Technologies, Inc. (the Parent Company only) - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Profit (loss) for the year | $ 433,935 | $ 45,160 | $ (16,184) |
Adjustments for: | |||
Changes in fair value of financial assets at fair value through profit or loss | 284 | (472) | (3,746) |
Interest income | (876) | (967) | (2,013) |
Unrealized foreign currency exchange losses (gains) | (953) | (239) | 121 |
Changes in: | |||
Cash generated from operating activities | 408,144 | 106,056 | 12,408 |
Interest received | 852 | 1,066 | 2,060 |
Interest paid | (1,074) | (1,811) | (2,372) |
Net cash used in operating activities | 388,276 | 102,610 | 7,656 |
Cash flows from investing activities: | |||
Acquisitions of financial asset at amortized cost | (25,362) | (3,829) | (4,023) |
Acquisitions of equity method investment | (598) | (792) | (129) |
Proceeds from capital reduction of investment | 151 | 32 | 47 |
Cash received from loan made to related party | 0 | 0 | 2,780 |
Net cash provided by (used in) investing activities | (232,680) | (22,365) | (47,767) |
Cash flows from financing activities: | |||
Payments of cash dividends | (47,424) | (4) | 0 |
Proceeds from exercise of employee stock options | 1,182 | 3,707 | 0 |
Net cash provided by (used in) financing activities | (4,487) | 3,261 | 35,261 |
Net increase (decrease) in cash | 151,086 | 83,883 | (5,382) |
Cash and cash equivalents at beginning of year | 184,938 | 101,055 | 106,437 |
Cash and cash equivalents at end of year | 336,024 | 184,938 | 101,055 |
Equity attributable to owners of parent [member] | |||
Cash flows from operating activities: | |||
Profit (loss) for the year | 436,896 | 47,134 | (13,614) |
Adjustments for: | |||
Changes in fair value of financial assets at fair value through profit or loss | 143 | (427) | (3,755) |
Interest income | (148) | (126) | (162) |
Finance costs | 1,320 | 3,629 | 4,165 |
Share of losses (profits) of subsidiaries and affiliates | (439,133) | (50,558) | 12,091 |
Unrealized foreign currency exchange losses (gains) | (115) | (356) | 69 |
Adjustments to reconcile profit (loss) | (1,037) | (704) | (1,206) |
Changes in: | |||
Other current assets | (72) | (267) | 320 |
Other current liabilities | 750 | (71) | (58) |
Cash generated from operating activities | (359) | (1,042) | (944) |
Interest received | 139 | 130 | 174 |
Interest paid | (858) | (730) | (844) |
Net cash used in operating activities | (1,078) | (1,642) | (1,614) |
Cash flows from investing activities: | |||
Acquisitions of financial asset at amortized cost | (139) | (129) | (170) |
Acquisitions of equity method investment | 0 | (758) | 0 |
Cash received from loan made to related party | 0 | 0 | 2,780 |
Net cash provided by (used in) investing activities | (139) | (887) | 2,610 |
Cash flows from financing activities: | |||
Payments of cash dividends | (47,404) | 0 | 0 |
Proceeds from long-term unsecured borrowings | 0 | 60,000 | 0 |
Repayments of long-term unsecured borrowings | (6,000) | (1,500) | 0 |
Proceeds from short-term secured borrowings | 611,600 | 278,000 | 158,000 |
Repayments of short-term secured borrowings | (564,200) | (338,000) | (158,000) |
Proceeds from issue of RSUs from a subsidiary | 31 | 0 | 311 |
Proceeds from exercise of employee stock options | 1,182 | 3,707 | 0 |
Proceeds from debt from a subsidiary | 159,205 | 151,730 | 150,430 |
Repayment of debt from a subsidiary | (154,205) | (150,430) | (151,548) |
Net cash provided by (used in) financing activities | 209 | 3,507 | (807) |
Net increase (decrease) in cash | (1,008) | 978 | 189 |
Cash and cash equivalents at beginning of year | 1,980 | 1,002 | 813 |
Cash and cash equivalents at end of year | $ 972 | $ 1,980 | $ 1,002 |