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Deferred Government Grants (Tables)
12 Months Ended
Dec. 31, 2020
Deferred Government Grant [Abstract]  
Summary of Deferred Government Grants

Summarized below are deferred government grants As of December 31, 2020 and 2019:

 

 

 

December 31,

 

 

 

2020

 

 

2019

 

Government grants for property, plant and equipment (a)

 

$

565

 

 

$

486

 

Government grants for research and development (b)

 

 

14,594

 

 

 

2,252

 

Current deferred government grants

 

 

15,159

 

 

 

2,738

 

Government grants for property, plant and equipment (a)

 

 

3,003

 

 

 

2,137

 

Government grants for research and development (b)

 

 

1,226

 

 

 

1,849

 

Non-current deferred government grants

 

 

4,229

 

 

 

3,986

 

Total deferred government grants

 

 

19,388

 

 

 

6,724

 

  

(a) The Company has four deferred government grants related to property, plant and equipment. The Company has fulfilled one of the grants’ conditions and expect to fulfill another one in 2021. $565 will be amortized in 2021 which was included in the current portion of deferred government grant and $1,714 will be amortized after 2021 which was included in the non-current portion of deferred government grants. $412 was recorded as a reduction to depreciation expense for the year ended December 31, 2020 (2019 - $412, 2018 - $430), and $80 was recorded as government grant recognized in income for the year ended December 31, 2020 (2019 - $79, 2018 - $82). $1,289 represents the unamortized portion of one grant where the Company received but has not fulfilled the conditions attached to the grant. As the Company does not expect to fulfill the conditions within one year, the grant is recorded as a non-current deferred government grant.

(b) The Company has ten deferred government grants related to various research and development projects. The Company expects to fulfill nine grants’ conditions in 2021 and recorded $14,594 as current portion of deferred government grants, while the remaining one grant’s condition is expected to be fulfilled after 2021 and $1,226 is recorded in the non-current portion of deferred government grants.