Related party transactions

6 Months Ended

Jun. 30, 2013

Related party transactions

Note 16. Related party transactions:

As of June 30, 2013 and December 31, 2012, respectively, we had a receivable of $2,954 and $1,404 from Sagent Agila LLC, which is expected to offset future profit-sharing payments. As of June 30, 2013 and December 31, 2012, respectively, we had a payable of $3,406 and $7,026 to Sagent Agila LLC, principally for the acquisition of inventory and amounts due under profit-sharing arrangements. During the three and six months ended June 30, 2013, Sagent Agila LLC distributed $882 and $2,734, respectively, of profit sharing receipts to its joint venture partners. As the Sagent Agila joint venture had sufficient cumulative earnings at June 30, 2013, our share of the distribution for the six months ended June 30, 2013 has been treated as a dividend received in the condensed consolidated statements of cash flows.

Prior to our acquisition of the remaining 50% equity interest in KSCP, we had committed to funding cash shortfalls of the joint venture through September 30, 2013 while discussions occurred between the two joint venture partners on the long-term strategic direction of the facility. As of the acquisition date, we had a receivable of $4,884 from KSCP for the acquisition of certain raw material inventory on behalf of KSCP, a prepayment of certain finished goods inventory, and a working capital loan.