Crucial 2011 Annual Report Download - page 185
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34
INOTERA MEMORIES, INC.
NOTES TO FINANCIAL STATEMENTS
Significant purchases from related parties for the years ended December 31, 2008, 2009 and 2010, were as follows:
The balances of accounts payable as of December 31, 2009 and 2010, were as follows:
The Company pays NPC and NTC on the 15th of the month following the month of purchase and pays Micron within
30 days of the shipping date. Purchases from NPC included miscellaneous equipment. Purchase prices and payment
terms of purchases from related parties are not materially different from those of non-related general suppliers.
(iii)
Financing to/from related parties
Financing to/from related parties was as follows:
(1)
Lending to related parties (classified under other receivables - related parties):
(Continued)
(ii)
Purchases and accounts payable
For the years ended December 31,
2008
2009
2010
Amount
% of net
purchases
Amount
% of net
purchases
Amount
% of net
purchases
NPC
$
247,902
1.32
27,239
0.43
163,406
1.81
NTC
2,485
0.01
21,549
0.34
14,289
0.16
Qimonda AG
450,620
2.39
-
-
-
-
Micron -
-
75,053
1.19
139,361
1.54
$
701,007
3.72
123,841
1.96
317,056
3.51
December 31,
2009
2010
Amount
% of accounts
payable
Amount
% of accounts
payable
NPC
$
5,686
0.15
49,254
0.45
NTC
279
0.01
1,382
0.01
Micron
65,810
1.77
62,244
0.57
$
71,775
1.93
112,880
1.03
For the year ended December 31, 2008
Maximum
balance
Balance as of
December 31, 2008
Interest rate
Interest income
Interest receivables
as of December 31, 2008
Micron
$
2,834,920
2,793,100
4.1575%
11,634
11,612