Schedule I - Condensed Unconsolidated Statements of Income

12 Months Ended

Jun. 30, 2021

Condensed Financial Information Disclosure [Abstract]

Schedule I - Notes to the Condensed Unconsolidated Financial Statements

	Year ended June 30,
	2021		2020		2019
Net income (loss) including noncontrolling interest	$	56,289	$	(18,257)	$	(14,638)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustment	14,190		(4,839)		(5,937)
Comprehensive income (loss)	70,479		(23,096)		(20,575)
Noncontrolling interest	4,921		(14,066)		(19,303)
Comprehensive income (loss) attributable to Alpha and Omega Semiconductor Limited	$	65,558	$	(9,030)	$	(1,272)

	June 30,
	2021		2020
ASSETS
Current assets:
Cash and cash equivalents	$	9,752	$	4,538
Other current assets	191		220
Total current assets	9,943		4,758
Property, plant and equipment, net	32		44
Other long-term assets	114		160
Investment in subsidiaries	540,425		446,415
Total assets	$	550,514	$	451,377
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$	786	$	4,816
Accounts payable - Intercompany	33,403		14,673
Total liabilities	34,189		19,489
Equity:
Preferred shares, par value $0.002 per share:
Authorized: 10,000 shares; Issued and outstanding: none at June 30, 2021 and 2020	—		—
Common shares, par value $0.002 per share:
Authorized: 100,000 shares; issued and outstanding: 32,975 shares and 26,350 shares, respectively at June 30, 2021 and 31,944 shares and 25,305 shares, respectively at June 30, 2020	66		64
Treasury shares at cost; 6,625 shares at June 30, 2021 and 6,639 shares at June 30, 2020	(66,064)		(66,184)
Additional paid-in capital	259,993		246,103
Accumulated other comprehensive income	2,315		(5,127)
Retained earnings	176,895		118,833
Total Alpha and Omega Semiconductor Limited shareholder's equity	373,205		293,689
Noncontrolling interest	143,120		138,199
Total equity	516,325		431,888
Total liabilities and equity	$	550,514	$	451,377

	Year Ended June 30,
	2021		2020		2019
Cash flows from operating activities
Net income (loss) including noncontrolling interest	$	56,289	$	(18,257)	$	(14,638)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	12		76		274
Share-based compensation expense	683		450		432
Equity in net (income) loss of subsidiaries	(64,709)		17,845		14,334
Changes in assets and liabilities:
Accounts receivable - intercompany	—		—		3,937
Other current assets	75		187		134
Accounts payable and accrued liabilities	(4,034)		3,953		121
Accounts payable - intercompany	18,730		(6,841)		21,514
Net cash provided by (used in) operating activities	7,046		(2,587)		26,108
Cash flows from investing activities
Purchases of property and equipment	—		—		(51)
Investment in subsidiaries	—		—		(25,000)
Net cash used in investing activities	—		—		(25,051)
Cash flows from financing activities
Withholding tax on restricted stock units	(6,924)		(1,509)		(2,028)
Proceeds from exercise of stock options and ESPP	5,092		3,350		3,018
Payments for repurchases of common shares	—		—		(1,501)
Net cash provided by (used in) financing activities	(1,832)		1,841		(511)
Net increase (decrease) in cash and cash equivalents	5,214		(746)		546
Cash and cash equivalents at beginning of year	4,538		5,284		4,738
Cash and cash equivalents at end of year	$	9,752	$	4,538	$	5,284

1. Basis of Presentation

Alpha and Omega Semiconductor Limited is the parent company of all Alpha and Omega Semiconductor subsidiaries. It was incorporated in Bermuda on September 27, 2000 as an exempted limited liability company. The address of its registered office is Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda.

The accompanying condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of its subsidiaries exceed 25% of the consolidated net assets of Alpha and Omega Semiconductor Limited and its subsidiaries (the “Company”).

The parent company records its investment in subsidiaries under the equity method of accounting. Such investment is presented on the balance sheet as "Investment in subsidiaries" and the subsidiaries' net income (loss) are recognized based on the effective shareholding percentage as income on equity investment in subsidiaries on the statement of operations. Intercompany balances and transactions have not been eliminated. The revenue recorded represents intercompany administrative service fees charged by the parent company starting in fiscal year 2013.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The footnote disclosures contain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company.

2. Restricted net assets of subsidiaries

For a discussion of the Company’s restricted net assets of subsidiaries, see Note 12 of the Company’s consolidated financial statements.

3. Commitments and contingencies

For a discussion of the Company’s commitments and contingencies, see Note 13 to the Company’s consolidated financial statements.