13th Nov 2012 10:56
HON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS September 30, 2012 AND September 30, 2011 (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS) |
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Accounting Title | 2012/9/30 | 2011/9/30 | |||
Amount | % | Amount | % | ||
Assets | |||||
Current Assets | |||||
Cash and cash equivalents | 565,131,191.00 | 29.3 | 358,157,218.00 | 20.33 | |
Financial assets measured at fair value through profit or loss - current | 51,402.00 | 0 | 239,029.00 | 0.01 | |
Available-for-sale financial assets - current | 751,071.00 | 0.04 | 829,086.00 | 0.05 | |
Accounts receivable - net | 429,904,973.00 | 22.29 | 360,435,256.00 | 20.46 | |
Accounts receivable - related parties - net | 22,194,321.00 | 1.15 | 19,226,590.00 | 1.09 | |
Other receivables | 38,988,108.00 | 2.02 | 34,321,092.00 | 1.95 | |
Other financial assets - current | 3,882,662.00 | 0.2 | 136,984,489.00 | 7.77 | |
Inventories | 394,431,997.00 | 20.45 | 402,067,061.00 | 22.82 | |
Other prepayments | 5,970,573.00 | 0.31 | 8,849,109.00 | 0.5 | |
Other current assets | 6,469,387.00 | 0.34 | 5,520,597.00 | 0.31 | |
Current assets | 1,467,775,685.00 | 76.09 | 1,326,629,527.00 | 75.29 | |
Funds and Investments | |||||
Financial assets measured at fair value through profit or loss - non current | 200,000.00 | 0.01 | 0 | 0 | |
Available-for-sale financial assets - non current | 9,358,050.00 | 0.49 | 4,900,893.00 | 0.28 | |
Financial assets carried at cost - non current | 3,465,995.00 | 0.18 | 3,888,199.00 | 0.22 | |
Equity investments under equity method | 39,387,644.00 | 2.04 | 36,917,191.00 | 2.1 | |
Prepayments for long-term investments | 49,869.00 | 0 | 124,174.00 | 0.01 | |
Investments | 39,437,513.00 | 2.04 | 37,041,365.00 | 2.1 | |
Other financial assets - non current | 23,100.00 | 0 | 1,042,444.00 | 0.06 | |
Funds and long-term investments | 52,484,658.00 | 2.72 | 46,872,901.00 | 2.66 | |
Fixed Assets | |||||
Cost | |||||
Land | 4,194,950.00 | 0.22 | 4,195,857.00 | 0.24 | |
Buildings and structures | 157,443,974.00 | 8.16 | 147,011,749.00 | 8.34 | |
Machinery and equipment | 259,753,238.00 | 13.47 | 241,876,087.00 | 13.73 | |
Molding equipment | 2,998,201.00 | 0.16 | 5,003,974.00 | 0.28 | |
Testing equipment | 24,868,347.00 | 1.29 | 27,686,403.00 | 1.57 | |
Office equipment | 15,483,998.00 | 0.8 | 16,020,610.00 | 0.91 | |
Maintenance equipment and tools | 3,379,007.00 | 0.18 | 3,219,693.00 | 0.18 | |
Other facilities | 44,209,848.00 | 2.29 | 40,667,323.00 | 2.31 | |
Fixed assets cost | 512,331,563.00 | 26.56 | 485,681,696.00 | 27.56 | |
Accumulated depreciation | -186,498,469.00 | -9.67 | -174,903,775.00 | -9.93 | |
Accumulated impairment - fixed assets | -5,347,809.00 | -0.28 | -4,591,168.00 | -0.26 | |
Construction in process and prepayment for equipments | 45,874,371.00 | 2.38 | 41,133,499.00 | 2.33 | |
Fixed assets | 366,359,656.00 | 18.99 | 347,320,252.00 | 19.71 | |
Intangible Assets | |||||
Goodwill | 508,421.00 | 0.03 | 215,474.00 | 0.01 | |
Intangible assets | 508,421.00 | 0.03 | 215,474.00 | 0.01 | |
OtherAssets | |||||
Deferred charges | 17,085,329.00 | 0.89 | 14,792,657.00 | 0.84 | |
Other assets - other | 24,738,234.00 | 1.28 | 26,215,607.00 | 1.49 | |
Other assets | 41,823,563.00 | 2.17 | 41,008,264.00 | 2.33 | |
Assets | 1,928,951,983.00 | 100 | 1,762,046,418.00 | 100 | |
Liabilities and Stockholders' Equity | |||||
Liabilities | |||||
Current Liabilities | |||||
Short-term borrowings | 370,599,719.00 | 19.21 | 366,050,677.00 | 20.77 | |
Short-term notes and bills payable | 7,989,206.00 | 0.41 | 4,995,036.00 | 0.28 | |
Financial liabilities measured at fair value through profit or loss - current | 43,100.00 | 0 | 261,267.00 | 0.01 | |
Accounts payable | 510,197,105.00 | 26.45 | 495,467,168.00 | 28.12 | |
Accounts payable - related parties | 48,592,357.00 | 2.52 | 27,940,132.00 | 1.59 | |
Income tax payable | 12,851,691.00 | 0.67 | 13,723,484.00 | 0.78 | |
Accrued expenses | 107,973,933.00 | 5.6 | 72,027,664.00 | 4.09 | |
Other payables | 49,153,351.00 | 2.55 | 24,595,283.00 | 1.4 | |
Advance receipts | 23,242,407.00 | 1.2 | 5,336,838.00 | 0.3 | |
Long-term liabilities - current portion | 18,459,000.00 | 0.96 | 20,219,400.00 | 1.15 | |
Other current liabilities | 15,244,101.00 | 0.79 | 20,430,801.00 | 1.16 | |
Current liabilities | 1,164,345,970.00 | 60.36 | 1,051,047,750.00 | 59.65 | |
Long term Liabilities | |||||
Bonds payable | 84,929,910.00 | 4.4 | 62,400,513.00 | 3.54 | |
Long-term borrowings | 33,077,367.00 | 1.71 | 61,844,523.00 | 3.51 | |
Long-term liabilities | 118,007,277.00 | 6.12 | 124,245,036.00 | 7.05 | |
Reserves | |||||
Other Liabilities | |||||
Pension reserve / accrued pension liability | 1,098,760.00 | 0.06 | 1,070,408.00 | 0.06 | |
Deferred income tax liabilities | 925,740.00 | 0.05 | 2,507,089.00 | 0.14 | |
Other liabilities - other | 4,286,727.00 | 0.22 | 3,739,075.00 | 0.21 | |
Other liabilities | 6,311,227.00 | 0.33 | 7,316,572.00 | 0.42 | |
Liabilities | 1,288,664,474.00 | 66.81 | 1,182,609,358.00 | 67.12 | |
Stockholders' Equity | |||||
Capital | |||||
Common stock | 118,358,665.00 | 6.14 | 106,890,967.00 | 6.07 | |
Capital Surplus | |||||
Capital surplus - additional paid-in capital | 58,302,661.00 | 3.02 | 52,011,511.00 | 2.95 | |
Capital surplus - long-term equity investments | 14,866,527.00 | 0.77 | 14,982,057.00 | 0.85 | |
Capital surplus - stock option | 2,034,440.00 | 0.11 | 3,229,640.00 | 0.18 | |
Capital surplus | 75,203,628.00 | 3.9 | 70,223,208.00 | 3.99 | |
Retained Earnings | |||||
Legal reserve | 59,980,502.00 | 3.11 | 51,821,402.00 | 2.94 | |
Unappropriated retained earnings | 348,408,180.00 | 18.06 | 290,470,580.00 | 16.48 | |
Retained earnings | 408,388,682.00 | 21.17 | 342,291,982.00 | 19.43 | |
Stockholders' Equity and Other adjustmen | |||||
Cumulative translation adjustments | 1,368,665.00 | 0.07 | 20,925,620.00 | 1.19 | |
Unrealized gains (losses) on financial instruments | 2,133,497.00 | 0.11 | 2,728,088.00 | 0.15 | |
Treasure stock | -18,901.00 | 0 | -18,901.00 | 0 | |
Equity adjustments | 3,483,261.00 | 0.18 | 23,634,807.00 | 1.34 | |
Minority interest | 34,853,273.00 | 1.81 | 36,396,096.00 | 2.07 | |
Stockholders' equity | 640,287,509.00 | 33.19 | 579,437,060.00 | 32.88 | |
Number of treasury stock acquired by the company and subsidiaries (unit: share) | 1,302,812.00 | 0.07 | 1,184,375.00 | 0.07 | |
| 0 | 0 | 0 | 0 | |
HON HAI PRECISION INDUSTRY CO., LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME September 30, 2012 AND September 30, 2011 (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS, EXCEPT EARNINGS PER SHARE DATA) |
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Accounting Title | 2012/9/30 | 2011/9/30 | |||
Amount | % | Amount | % | ||
Sales | 2,767,645,025.00 | 100 | 2,378,489,617.00 | 100 | |
Sales | 2,767,645,025.00 | 100 | 2,378,489,617.00 | 100 | |
Operating income | 2,767,645,025.00 | 100 | 2,378,489,617.00 | 100 | |
Cost of sales | 2,546,980,284.00 | 92.03 | 2,207,584,936.00 | 92.81 | |
Operating costs | 2,546,980,284.00 | 92.03 | 2,207,584,936.00 | 92.81 | |
Gross profit (loss) from operations | 220,664,741.00 | 7.97 | 170,904,681.00 | 7.19 | |
Selling expense | 70,360,223.00 | 2.54 | 43,683,301.00 | 1.84 | |
General and administrative expenses | 51,528,723.00 | 1.86 | 50,633,988.00 | 2.13 | |
Research and development expenses | 32,066,886.00 | 1.16 | 29,117,820.00 | 1.22 | |
Operating expenses | 153,955,832.00 | 5.56 | 123,435,109.00 | 5.19 | |
Operating income (loss) | 66,708,909.00 | 2.41 | 47,469,572.00 | 2 | |
Non-Operating Income | |||||
Interest income | 9,903,538.00 | 0.36 | 4,547,467.00 | 0.19 | |
Inome from long-term equity investments under the equity method | 1,248,862.00 | 0.05 | 1,827,779.00 | 0.08 | |
Investment income | 1,248,862.00 | 0.05 | 1,827,779.00 | 0.08 | |
Gains on disposal of fixed assets | 35,451.00 | 0 | 221,866.00 | 0.01 | |
Gains on sale of investments | 1,277,607.00 | 0.05 | 363,659.00 | 0.02 | |
Foreign exchange gains | 0 | 0 | 7,665,670.00 | 0.32 | |
Revaluation gain on financial assets | 193,623.00 | 0.01 | 34,925.00 | 0 | |
Revaluation gain on financial liabilities | 6,559.00 | 0 | 75,547.00 | 0 | |
Miscellaneous income | 4,239,201.00 | 0.15 | 3,581,243.00 | 0.15 | |
Non-operating revenues and gains | 16,904,841.00 | 0.61 | 18,318,156.00 | 0.77 | |
Non-Operating Expenses | |||||
Interest expense | 7,110,282.00 | 0.26 | 4,058,949.00 | 0.17 | |
Foreign exchange losses | 2,948,611.00 | 0.11 | 0 | 0 | |
Financial expense | 147,374.00 | 0.01 | 297,182.00 | 0.01 | |
Impairment loss on assets | 1,790,341.00 | 0.06 | 0 | 0 | |
Miscellaneous disbursements | 652,949.00 | 0.02 | 441,154.00 | 0.02 | |
Non-operating expenses and losses | 12,649,557.00 | 0.46 | 4,797,285.00 | 0.2 | |
Income from continuing operations before income tax | 70,964,193.00 | 2.56 | 60,990,443.00 | 2.56 | |
Income tax expense (benefit) | 15,627,659.00 | 0.56 | 14,505,217.00 | 0.61 | |
Income from continuing operations | 55,336,534.00 | 2 | 46,485,226.00 | 1.95 | |
Consolidated net income attributable to parent company | 57,789,619.00 | 2.09 | 46,561,176.00 | 1.96 | |
Minority interest income | -2,453,085.00 | -0.09 | -75,950.00 | 0 | |
Consolidated net income | 55,336,534.00 | 2 | 46,485,226.00 | 1.95 | |
Primary Earnings per Share | |||||
Income (loss) from continuing operations | 4.69 | 0 | 3.95 | 0 | |
Primary earnings per share of minority interest | 0.21 | 0 | 0.01 | 0 | |
Primary earnings per share | 4.9 | 0 | 3.96 | 0 | |
Diluted earnings per share | |||||
Income (loss) from continuing operations | 4.6 | 0 | 3.85 | 0 | |
Diluted earnings per share of minority interest | 0.2 | 0 | 0.01 | 0 | |
Diluted earnings per share | 4.8 | 0 | 3.86 | 0 | |
HON HAI PRECISION IND. CO., LTD. CONSOLIDATED STATEMENTS OF CASH FLOWS September 30, 2012 AND September 30, 2011 (In Thousands of New Taiwan Dollars) |
2012 2011
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Cash Flows from Operating Activities - Indirect Method
Consolidated Net Income (Loss) $55,336,534 $46,485,226
Adjustments to Reconcile Net Income to Net
Cash Provided by (Used in) Operating Activities
Depreciation Expense 42,176,630 34,845,253
Amortization Expense 8,976,253 3,036,548
Provision (Reversal of Provision)
for Bad Debt Expense 706,758 (1,183,157)
Amortization of Bonds Issue Cost 499,650 476,280
Loss (Gain) on Decline (Recovery) in Market
Value, Scrap and Obsolescence of Inventories (242,337) 4,591,029
Investment Loss (Income) Recognized under
Equity Method (1,248,862) (1,827,779)
Cash Dividends Received from Investments
Accounted for under Equity Method 629,643 563,399
Loss (Gain) on Disposal of Property,
Plan and Equipment (35,451) (221,866)
Loss (Gain) on Disposal of Investments (1,277,607) (363,659)
Unrealized Revaluation Loss (Gain) on
Financial Assets and Liabilities 17,290 35,263
Impairment Losses on Financial Asset 0 0
Impairment Loss on Non-Financial Assets 1,790,341 0
Changes in Operating Assets and Liabilities
Decrease (Increase) in Financial Assets
Held for Trading (1,180) 1,975
Decrease (Increase) in Notes Receivable (30,499) 6,611,029
Decrease (Increase) in Accounts Receivable 20,176,752 25,127,622
Decrease (Increase) in Accounts Receivable -
Related Parties 3,097,490 (398,090)
Decrease (Increase) in Other Receivables (2,997,396) (3,427,807)
Decrease (Increase) in Inventories (13,302,912) (147,274,375)
Decrease (Increase) in Other Prepayments 1,149,346 (3,728,013)
Decrease (Increase) in Deferred Tax Assets 1,547,032 (1,486,354)
Increase (Decrease) in Accounts Payable (9,527,997) 91,850,070
Increase (Decrease) in Accounts Payable -
Related Parties 19,823,180 4,403,920
Increase (Decrease) in Income Tax Payable (7,087,812) (902,520)
Increase (Decrease) in Accrued Expenses 26,525,600 18,483,985
Increase (Decrease) in Other Payables (743,726) (878,117)
Increase (Decrease) in Receipts in Advance 17,657,626 (1,471,690)
Increase (Decrease) in Other Current Liabilities (9,353,540) 5,503,180
Increase (Decrease) in Deferred Tax Liabilities (868,007) (346,910)
Increase (Decrease) in Accrued Pension Liabilities 34,460 (20,604)
Net Cash Provided by (Used in) Operating Activities 153,427,259 78,483,838
Cash Flows from Investing Activities
Acquisition of Financial Assets as Fair
Value through Profit or Loss (405,917) (112,185)
Acquisition of Available-for-sale Financial Assets (7,719,647) 0
Proceeds from Disposal of Available-for-sale
Financial Assets 4,690,874 464,710
Acquisition of Financial Assets Carried at Cost (730,620) (805,402)
Proceeds from Disposal of Financial Assets
Carried at Cost 981,681 0
Acquisition of Long-term Investments under Equity Method (914,768) (689,995)
Proceeds from Disposal of Long-term Investments under
Equity Method 2,104,878 0
Purchase of Property, Plant and Equipment (41,657,836) (73,359,747)
Proceeds from Disposal of Property, Plant and Equipment 3,381,352 1,384,214
Decrease (Increase) in Other Financial Assets 41,642,002 (79,707,813)
Decrease (Increase) in Other Assets (12,226,083) (10,580,475)
Net Cash Provided by (Used in) Investing Activities (10,854,084) (163,406,693)
Cash Flows from Financing Activities
Increase (Decrease) in Short-term Loans 110,076,970 148,553,644
Increase (Decrease) in Short-term Notes and Bills Payable (106) (4,596,252)
Proceeds from Issuance of Bonds 23,000,000 18,000,000
Repayments of Bonds (3,000,000) 0
Proceeds from Long-term Debt 6,206,100 22,272,500
Repayments of Long-term Debt (6,687,000) (3,783,000)
Increase (Decrease) in Other Liabilities (452,247) (842,052)
Cash Dividends Paid (16,033,645) (9,661,248)
Employee Bonus and Remunerations Paid to Directors
and Supervisors 0 0
Changes in Minority Interest 118,562 1,701,988
Net Cash Provided by (Used in) Financing Activities 113,228,634 171,645,580
Effect of Exchange Rate Changes (20,464,251) 17,193,170
Net Increase (Decrease) in Cash and Cash Equivalents 235,337,558 103,915,895
Cash and Cash Equivalents, Beginning of year 329,793,633 254,241,323
Cash and Cash Equivalents, End of year $565,131,191 $358,157,218
Supplemental Cash Flow Information
Interest Paid $6,605,218 $3,234,991
Interest Paid- Excluding Capitalized Interest $6,605,218 $3,234,991
Income Tax Paid $20,201,934 $15,562,035
Non-cash Investing and Financing Activities
Unrealized Valuation Gains or Losses on Financial
Instruments $1,074,726 ($9,040,305)
Unrealized Gains or Losses on Financial Instruments
Recognized due to Equity Changes in Long-term Investments ($743,952) ($1,496,737)
Employee Bonus Payable and Compensation Due to
Directors and Supervisors $5,874,552 $5,555,128
Investing Activities Affecting Both Cash and Non-cash Items
Cash Paid for Acquisition of Property, Plant and Equipment
Increase in Property, Plant and Equipment $58,629,828 $80,094,303
Increase (Decrease) in Payable for Equipment Purchased ($16,971,992) ($6,734,556)
Cash Paid for Acquisition of Property,
Plant and Equipment $41,657,836 $73,359,747
Related Shares:
Hon Hai Precsn