Crucial 2012 Annual Report Download - page 257

Download and view the complete annual report

Please find page 257 of the 2012 Crucial annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 298

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252
  • 253
  • 254
  • 255
  • 256
  • 257
  • 258
  • 259
  • 260
  • 261
  • 262
  • 263
  • 264
  • 265
  • 266
  • 267
  • 268
  • 269
  • 270
  • 271
  • 272
  • 273
  • 274
  • 275
  • 276
  • 277
  • 278
  • 279
  • 280
  • 281
  • 282
  • 283
  • 284
  • 285
  • 286
  • 287
  • 288
  • 289
  • 290
  • 291
  • 292
  • 293
  • 294
  • 295
  • 296
  • 297
  • 298

12
INOTERA MEMORIES, INC.
NOTES TO FINANCIAL STATEMENTS
(Continued)
(c) The details of lease receivables as of December 31, 2010 and 2011, were as follows:
December 31,
2010 2011
Current Non-current Current Non-current
Gross lease receivables $ 24,698 568,051 24,698 543,353
Less: unrealized interest income (18,487) (256,974) (18,112) (238,862)
Net lease receivables $ 6,211 311,077 6,586 304,491
(a) For the years ended December 31, 2009, 2010 and 2011, the rent revenues (classified under non-operating
income and gains - others) from the operating lease of the land were $3,719.
(d) Future gross lease receivables for leases classified as capital lease or operating lease as of December 31,
2011, were as follows:
December 31, 2011
Duration Capital lease Operating lease
2012.1.1~2012.12.31 $ 24,698 3,719
2013.1.1~2013.12.31 24,698 3,719
2014.1.1~2014.12.31 24,698 3,719
2015.1.1~2015.12.31 24,698 3,719
On and after 2016.1.1 469,259 70,651
Total $ 568,051 85,527
(8) Property, Plant and Equipment and Idle Assets
(a) As of December 31, 2010, the Company had accumulated impairment loss on fixed assets of $236,763, because
some machinery and equipment were evaluated in June 2010 as no longer useful for the next generation
manufacturing process. This factor is expected to cause a decrease in cash inflows from the use of the related
machinery so that the recoverable amount of those machinery and equipment would be lower than its carrying
amount. The recoverable amount of the machinery was based on its value in use, determined using a discount
rate of 13.49%. As of December 31, 2011, these machinery and equipment were classified as idle assets as
they were not used in operation and then were disposed.
(b) In March 2007, the Company has secured the approval to purchase two parcels of land numbered 21 and 33
located in Taoyuan Hi-Tech Industrial Park Tang Wei District, for $1,686,190 from the Taoyuan County
Government. Asia Pacific Development Co. was engaged by the Taoyuan County Government to handle the
sale of the land in this industrial park. As the land is not being used in operation, it was classified as an idle
asset.