XML 52 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows provided by (used in) operating activities      
Net income (loss) $ 10,370 $ (18,749) $ (399)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
- deferred income taxes (2,225) (17) 2,845
- stock-based compensation 281 347 206
- inventory provision 1,399 3,479 4,034
- recovery for doubtful accounts (504) (874) (167)
- impairment of equipment and loss on disposal 88 2,190 455
- research and development expenditures qualified for government grant 0 (125) (686)
- depreciation of property, plant and equipment and amortization of licenses 6,433 4,189 4,540
Amortization of the prepaid land use rights 311 299 285
- deferred government grant recognized in income   (358) (434)
- accretion expenses 100 235 377
Changes in:      
- accounts receivable (7,256) (4,286) 5,475
- inventories (7,547) (426) (1,915)
- income tax payable 7 (3,130) 1,340
- prepaid expenses and deposits 242 913 (531)
- deferred revenue (675) 1,026 (2,696)
- accounts payable and accrued liabilities 4,552 (967) 1,208
Net cash provided by (used in) operating activities 5,576 (16,254) 13,936
Cash flows provided by financing activities      
- Loan proceeds 16,800 16,787 11,392
- Loan repayments (4,089) (4,755) (10,659)
- Proceeds from issuance of common stock, net of share issuance costs 848 508 749
- Proceeds from shares subscribed 18 8 3
- Dividends paid to a non-controlling shareholder of Sinovac Beijing   (802) (5,863)
- Government grants received 842 2,395 1,593
- Repayment of loan from a non-controlling shareholder of Sinovac Beijing     3,398
Loan from a non-controlling shareholder of Sinovac Dalian   3,189  
Net cash provided by financing activities 14,419 17,330 613
Cash flows used in investing activities      
- Proceeds from disposal of equipment   5 122
- Proceeds from redemption of short-term investments     1,545
- Acquisition of property, plant and equipment (5,176) (16,156) (15,457)
Net cash provided by (used in) investing activities (5,176) (16,151) (13,790)
Exchange gain on cash and cash equivalents 1,182 2,029 1,943
Increase (decrease) in cash and cash equivalents 16,001 (13,046) 2,702
Cash and cash equivalents, beginning of year 91,241 104,287 101,585
Cash and cash equivalents, end of year 107,242 91,241 104,287
Supplemental disclosure of cash flow information:      
Cash paid for interest 2,853 750 456
Cash paid for income taxes   2,265 882
Supplemental schedule of non-cash activities:      
Acquisition of property, plant and equipment included in accounts payable and accrued liabilities $ 2,270 $ 3,788 $ 9,125