| SEGMENT AND GEOGRAPHIC INFORMATION |
25. SEGMENT AND GEOGRAPHIC INFORMATION
The Group follows ASC 280 for disclosure of segment information. The Group’s chief operating decision maker, who has been identified as the CEO, relies upon financial information by provinces with operations in the PRC when making decisions about allocating resources and assessing the performance of the Group. For the years ended December 31, 2011, 2012 and 2013, the Group operated and managed its business as four operating and reportable segments, namely the Yunnan Province segment, the Sichuan Province segment, the Zhejiang Province segment and the Fujian Province segment. As the Group’s long-lived assets and revenues are substantially all located in and derived from the PRC, no geographical segments are presented.
The Group’s segment information as of and for the year ended December 31, 2011 is as follows:
|
|
|
Yunnan
Province |
|
Sichuan
Province |
|
Zhejiang
Province |
|
Fujian
Province |
|
Unallocated |
|
Eliminations |
|
Consolidated |
|
|
|
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
|
Revenues |
|
13,806 |
|
555 |
|
25,382 |
|
14,854 |
|
— |
|
— |
|
54,597 |
|
|
Cost of revenues |
|
(8,349 |
) |
(568 |
) |
(15,034 |
) |
(10,874 |
) |
— |
|
3,511 |
|
(31,314 |
) |
|
General and administrative expenses (including share-based compensation expense of US$10,479) |
|
(1,519 |
) |
(86 |
) |
(1,148 |
) |
(2,276 |
) |
(23,867 |
) |
— |
|
(28,896 |
) |
|
Impairment loss on goodwill |
|
(5,260 |
) |
— |
|
— |
|
(6,128 |
) |
— |
|
— |
|
(11,388 |
) |
|
Impairment loss on long-lived assets |
|
— |
|
— |
|
— |
|
— |
|
(11,601 |
) |
11 |
|
(11,590 |
) |
|
Interest income |
|
180 |
|
10 |
|
128 |
|
1,709 |
|
66 |
|
(1,992 |
) |
101 |
|
|
Interest expense |
|
(8,468 |
) |
— |
|
(8,565 |
) |
(9,669 |
) |
(73 |
) |
2,018 |
|
(24,757 |
) |
|
Changes in fair value of warrant liabilities |
|
— |
|
— |
|
— |
|
— |
|
951 |
|
— |
|
951 |
|
|
Exchange loss |
|
(28 |
) |
— |
|
— |
|
(244 |
) |
(579 |
) |
— |
|
(851 |
) |
|
Other (loss) income, net |
|
(285 |
) |
— |
|
(36 |
) |
(158 |
) |
4,033 |
|
(3,888 |
) |
(334 |
) |
|
Income tax (expense) benefit |
|
(142 |
) |
5 |
|
(843 |
) |
115 |
|
(662 |
) |
— |
|
(1,527 |
) |
|
Net loss from continuing operations |
|
(10,065 |
) |
(84 |
) |
(116 |
) |
(12,671 |
) |
(31,732 |
) |
(340 |
) |
(55,008 |
) |
|
Loss from discontinued operations (net of income tax expense of US$101) |
|
— |
|
— |
|
— |
|
(631 |
) |
— |
|
349 |
|
(282 |
) |
|
Net loss for the year from discontinued operations |
|
— |
|
— |
|
— |
|
(631 |
) |
— |
|
349 |
|
(282 |
) |
|
Net loss |
|
(10,065 |
) |
(84 |
) |
(116 |
) |
(13,302 |
) |
(31,732 |
) |
9 |
|
(55,290 |
) |
|
Net loss attributable to noncontrolling interests |
|
— |
|
— |
|
— |
|
2,546 |
|
7,355 |
|
— |
|
9,901 |
|
|
Net loss attributable to China Hydroelectric Corporation shareholders |
|
(10,065 |
) |
(84 |
) |
(116 |
) |
(10,756 |
) |
(24,377 |
) |
9 |
|
(45,389 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
200,681 |
|
15,896 |
|
318,616 |
|
374,296 |
|
421,650 |
|
(516,224 |
) |
814,915 |
|
|
Total liabilities |
|
(133,670 |
) |
(753 |
) |
(138,688 |
) |
(185,330 |
) |
(20,498 |
) |
58,902 |
|
(420,037 |
) |
|
Capital expenditures |
|
1,763 |
|
1,128 |
|
3,031 |
|
645 |
|
970 |
|
(5 |
) |
7,532 |
|
|
Depreciation and amortization expenses |
|
5,181 |
|
344 |
|
9,837 |
|
6,569 |
|
115 |
|
— |
|
22,046 |
|
The Group’s segment information as of and for the year ended December 31, 2012 is as follows:
|
|
|
Yunnan
Province |
|
Sichuan
Province |
|
Zhejiang
Province |
|
Fujian
Province |
|
Unallocated |
|
Eliminations |
|
Consolidated |
|
|
|
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
|
Revenues |
|
13,460 |
|
598 |
|
41,616 |
|
29,714 |
|
— |
|
— |
|
85,388 |
|
|
Cost of revenues |
|
(8,540 |
) |
(689 |
) |
(16,978 |
) |
(13,133 |
) |
— |
|
3,545 |
|
(35,795 |
) |
|
General and administrative expenses (including share-based compensation expense of US$166) |
|
(2,108 |
) |
(269 |
) |
(2,569 |
) |
(3,413 |
) |
(11,989 |
) |
— |
|
(20,348 |
) |
|
Interest income |
|
236 |
|
121 |
|
838 |
|
1,713 |
|
3 |
|
(2,827 |
) |
84 |
|
|
Interest expense |
|
(9,039 |
) |
(260 |
) |
(10,550 |
) |
(10,787 |
) |
(247 |
) |
2,813 |
|
(28,070 |
) |
|
Changes in fair value of warrant liabilities |
|
— |
|
— |
|
— |
|
— |
|
(399 |
) |
— |
|
(399 |
) |
|
Exchange (loss) gain |
|
— |
|
— |
|
— |
|
(1 |
) |
29 |
|
— |
|
28 |
|
|
Other income (loss), net |
|
136 |
|
22 |
|
(81 |
) |
420 |
|
3,736 |
|
(3,726 |
) |
507 |
|
|
Income tax benefit (expense) |
|
72 |
|
(5 |
) |
(3,831 |
) |
(2,480 |
) |
(207 |
) |
|
|
(6,451 |
) |
|
Net (loss) income from continuing operations |
|
(5,783 |
) |
(482 |
) |
8,445 |
|
2,033 |
|
(9,074 |
) |
(195 |
) |
(5,056 |
) |
|
Income from discontinued operations (net of income tax expense of US$399) |
|
— |
|
— |
|
— |
|
959 |
|
— |
|
181 |
|
1,140 |
|
|
Gain on disposal of discontinued operations (net of income tax expense of $959) |
|
— |
|
— |
|
— |
|
— |
|
2,767 |
|
— |
|
2,767 |
|
|
Net income for the year from discontinued operations |
|
— |
|
— |
|
— |
|
959 |
|
2,767 |
|
181 |
|
3,907 |
|
|
Net (loss) income |
|
(5,783 |
) |
(482 |
) |
8,445 |
|
2,992 |
|
(6,307 |
) |
(14 |
) |
(1,149 |
) |
|
Net income attributable to noncontrolling interests |
|
— |
|
— |
|
— |
|
(94 |
) |
— |
|
— |
|
(94 |
) |
|
Net (loss) income attributable to China Hydroelectric Corporation shareholders |
|
(5,783 |
) |
(482 |
) |
8,445 |
|
2,898 |
|
(6,307 |
) |
(14 |
) |
(1,243 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
192,843 |
|
22,790 |
|
344,923 |
|
289,702 |
|
426,518 |
|
(522,460 |
) |
754,316 |
|
|
Total liabilities |
|
(131,872 |
) |
(8,092 |
) |
(145,312 |
) |
(129,627 |
) |
(27,799 |
) |
80,901 |
|
(361,801 |
) |
|
Capital expenditures |
|
877 |
|
1,384 |
|
3,973 |
|
1,305 |
|
15 |
|
(58 |
) |
7,496 |
|
|
Depreciation and amortization expenses |
|
5,546 |
|
477 |
|
10,136 |
|
6,767 |
|
142 |
|
— |
|
23,068 |
|
The Group’s segment information as of and for the year ended December 31, 2013 is as follows:
|
|
|
Yunnan
Province |
|
Sichuan
Province |
|
Zhejiang
Province |
|
Fujian
Province |
|
Unallocated |
|
Eliminations |
|
Consolidated |
|
|
|
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
US$ |
|
|
Revenues |
|
14,608 |
|
373 |
|
36,000 |
|
23,536 |
|
— |
|
— |
|
74,517 |
|
|
Cost of revenues |
|
(9,069 |
) |
(634 |
) |
(16,610 |
) |
(12,393 |
) |
(8 |
) |
3,357 |
|
(35,357 |
) |
|
General and administrative expenses (including share-based compensation expense of US$211) |
|
(1,534 |
) |
(193 |
) |
(1,909 |
) |
(2,423 |
) |
(7,154 |
) |
(45 |
) |
(13,258 |
) |
|
Impairment loss on long-lived assets |
|
— |
|
(3,549 |
) |
— |
|
— |
|
— |
|
— |
|
(3,549 |
) |
|
Interest income |
|
340 |
|
365 |
|
1,801 |
|
702 |
|
2 |
|
(3,112 |
) |
98 |
|
|
Interest expense |
|
(7,726 |
) |
(557 |
) |
(10,128 |
) |
(7,160 |
) |
(109 |
) |
3,112 |
|
(22,568 |
) |
|
Changes in fair value of warrant liabilities |
|
— |
|
— |
|
— |
|
— |
|
839 |
|
— |
|
839 |
|
|
Exchange loss |
|
— |
|
— |
|
— |
|
— |
|
(41 |
) |
— |
|
(41 |
) |
|
Other income (loss), net |
|
37 |
|
— |
|
(18 |
) |
91 |
|
3,477 |
|
(3,312 |
) |
275 |
|
|
Income tax benefit (expense) |
|
43 |
|
15 |
|
(2,245 |
) |
(843 |
) |
(444 |
) |
— |
|
(3,474 |
) |
|
Net (loss) income from continuing operations |
|
(3,301 |
) |
(4,180 |
) |
6,891 |
|
1,510 |
|
(3,438 |
) |
— |
|
(2,518 |
) |
|
Net (loss) income from discontinuing operations |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
|
Net (loss) income |
|
(3,301 |
) |
(4,180 |
) |
6,891 |
|
1,510 |
|
(3,438 |
) |
— |
|
(2,518 |
) |
|
Net loss attributable to noncontrolling interests |
|
— |
|
— |
|
— |
|
297 |
|
— |
|
— |
|
297 |
|
|
Net (loss) income attributable to China Hydroelectric Corporation shareholders |
|
(3,301 |
) |
(4,180 |
) |
6,891 |
|
1,807 |
|
(3,438 |
) |
— |
|
(2,221 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
197,995 |
|
21,135 |
|
346,886 |
|
288,735 |
|
437,477 |
|
(554,986 |
) |
737,242 |
|
|
Total liabilities |
|
(117,524 |
) |
(7,144 |
) |
(128,690 |
) |
(123,843 |
) |
(28,315 |
) |
70,903 |
|
(334,613 |
) |
|
Capital expenditures |
|
124 |
|
29 |
|
233 |
|
1,228 |
|
13 |
|
— |
|
1,627 |
|
|
Depreciation and amortization expenses |
|
5,633 |
|
482 |
|
10,437 |
|
6,839 |
|
133 |
|
— |
|
23,524 |
|
|