Letter To Shareholders - Mitac

MITAC INTERNATIONAL CORP. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31,
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)
2009 2008 2009 2008
ASSETS LIABILITIES AND STOCKHOLDER’S EQUITY
Current Assets Current Liabilities
Cash and cash equivalents (Note 4 (1)) $ 5,916,130 $ 7,033,906 Short-term loans (Notes 4 (11) and 6) $ 1,392,031 $ 2,153,444
Financial assets at fair value through profit or loss Financial liabilities at fair value through profit or loss (Note 4 (12)) 6,068 88,995
(Note 4 (2)) 26,293 11,977 Notes payable 252 24,730
Available-for-sale financial assets – current (Note 4 (3)) 738,719 520,783 Accounts payable 9,672,970 9,155,307
Derivative financial assets for hedging-current (Note 10(1)) - 1,045 Accounts payable – related parties (Note 5) 791,833 452,834
Notes receivable – net 4,418 15,402 Income tax payable (Note 4 (21)) 1,349,688 1,065,914
Notes receivable – related party (Note 5) 200,000 416 Accrued expenses 4,771,852 4,389,020
Accounts receivable – net (Note 4 (5)) 9,999,487 8,100,636 Other payables (Note 5) 344,272 352,679
Accounts receivable – related parties (Notes 4 (5) and 5) 2,647,292 3,071,199 Receipts in advance 358,146 296,094
Other receivables (Note 5) 193,772 224,827 Current portion of long-term debts (Notes 4 (13) and 6) 240,500 1,500,000
Other financial assets – current (Note 6) 34,942 33,539 Provision for product warranty 929,695 856,872
Inventories - net (Note 4 (6)) 8,170,023 8,072,833 Other current liabilities 617,488 452,181
Prepayments 531,880 947,233 20,474,795 20,788,070
Deferred income tax assets – current (Note 4 (21)) 511,474 908,573 Long-term Liabilities
28,974,430 28,942,369 Bonds payable (Notes 4 (13) and 6) - 240,500
Long- term loans (Notes 4 (14) and 6) 1,500,000 -
Long-term Investments 1,500,000 240,500
Available-for-sale financial assets – non-current Other Liabilities
(Note 4 (3)) 1,119,666 762,323 Accrued pension payable (Note 4 (15)) 86,256 86,353
Financial assets carried at cost – non-current (Note 4 (4)) 1,456,963 1,435,961 Deposit in 13,762 11,039
Long-term investments accounted for under the equity Deferred income tax liability (Note 4 (21)) 63,788 421,435
method (Note 4 (7)) 10,382,380 10,142,139 Others 38,371 74,434
12,959,009 12,340,423 202,177 593,261
Total Liabilities 22,176,972 21,621,831
Property, Plant and Equipment - net Stockholder’s Equity
(Notes 4 (8) and 6) 6,821,597 8,366,672 Common stock (Note 4 (16)) 15,361,724 15,354,393
Capital reserve (Note 4 (17)) 4,153,640 4,169,505
Intangible Assets (Note 4 (9)) Retained earnings (Note 4 (18))
Goodwill 1,547,666 1,289,824 Legal reserve 2,771,835 2,725,906
Other intangible assets 1,823,299 269,314 Unappropriated earnings 8,180,440 8,242,411
3,370,965 1,559,138 Unrealized financial instruments gain (loss) 539,949 ( 406,451 )
Other Assets Cumulative translation adjustments 1,206,095 1,649,701
Refundable deposits 56,268 75,865 Treasury stock (Note 4 (20)) ( 609,503 ) ( 609,503 )
Deferred charges 273,608 362,422 Total Stockholder’s Equity 31,604,180 31,125,962
Long term notes and accounts receivables – related parties
197,650 - Commitments and Contingent Liabilities (Note 7)
(Note 5)
Deferred income tax assets – non-current (Note 4 (21)) 176,348 134,317
Others (Note 4 (10)) 951,277 966,587
1,655,151 1,539,191
TOTAL ASSETS $ 53,781,152 $ 52,747,793 TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY $ 53,781,152 $ 52,747,793
The accompanying notes are an integral part of these consolidated financial statements.
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