|
MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES | ||||||||||||
|
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||
|
(In thousands of US dollars) | ||||||||||||
|
(Unaudited) | ||||||||||||
|
| ||||||||||||
|
|
|
Three Months Ended |
|
|
Six Months Ended |
| ||||||
|
|
|
June 30, 2016 |
|
|
June 30, 2016 |
|
|
June 30, 2015 |
| |||
|
Cash flows from operating activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(17,816) |
|
|
$ |
(9,691) |
|
|
$ |
(50,655) |
|
|
Adjustments to reconcile net loss to net cash provided by (used in)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
6,228 |
|
|
|
12,252 |
|
|
|
13,667 |
|
|
Provision for severance benefits |
|
|
4,056 |
|
|
|
9,827 |
|
|
|
11,877 |
|
|
Amortization of debt issuance costs and original issue discount |
|
|
174 |
|
|
|
347 |
|
|
|
324 |
|
|
Loss (gain) on foreign currency, net |
|
|
7,717 |
|
|
|
(1,140) |
|
|
|
17,146 |
|
|
Restructuring gain |
|
|
— |
|
|
|
(7,785) |
|
|
|
— |
|
|
Stock-based compensation |
|
|
968 |
|
|
|
1,504 |
|
|
|
1,977 |
|
|
Other |
|
|
174 |
|
|
|
164 |
|
|
|
1,544 |
|
|
Changes in operating assets and liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable, net |
|
|
789 |
|
|
|
8,505 |
|
|
|
3,145 |
|
|
Inventories, net |
|
|
0 |
|
|
|
(11,946) |
|
|
|
1,623 |
|
|
Other receivables |
|
|
(3,309) |
|
|
|
(3,635) |
|
|
|
5,523 |
|
|
Other current assets |
|
|
3,707 |
|
|
|
2,123 |
|
|
|
2,235 |
|
|
Deferred tax assets |
|
|
12 |
|
|
|
37 |
|
|
|
339 |
|
|
Accounts payable |
|
|
2,859 |
|
|
|
7,779 |
|
|
|
(12,431) |
|
|
Other accounts payable |
|
|
(1,408) |
|
|
|
(5,156) |
|
|
|
(5,550) |
|
|
Accrued expenses |
|
|
5,642 |
|
|
|
1,913 |
|
|
|
(10,710) |
|
|
Other current liabilities |
|
|
(2,192) |
|
|
|
(1,364) |
|
|
|
(699) |
|
|
Deferred revenue |
|
|
11,254 |
|
|
|
1,477 |
|
|
|
(1,359) |
|
|
Other non-current liabilities |
|
|
(336) |
|
|
|
(661) |
|
|
|
(1,084) |
|
|
Payment of severance benefits |
|
|
(9,004) |
|
|
|
(13,102) |
|
|
|
(4,231) |
|
|
Other |
|
|
(23) |
|
|
|
(137) |
|
|
|
(147) |
|
|
Net cash provided by (used in) operating activities |
|
|
9,492 |
|
|
|
(8,689) |
|
|
|
(27,466) |
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from settlement of hedge collateral |
|
|
1,924 |
|
|
|
5,917 |
|
|
|
— |
|
|
Payment of hedge collateral |
|
|
— |
|
|
|
— |
|
|
|
(6,555) |
|
|
Purchase of plant, property and equipment |
|
|
(1,546) |
|
|
|
(5,834) |
|
|
|
(1,964) |
|
|
Payment for intellectual property registration |
|
|
(241) |
|
|
|
(478) |
|
|
|
(263) |
|
|
Collection of guarantee deposits |
|
|
9 |
|
|
|
383 |
|
|
|
— |
|
|
Payment of guarantee deposits |
|
|
3 |
|
|
|
(11) |
|
|
|
(642) |
|
|
Other |
|
|
1 |
|
|
|
11 |
|
|
|
237 |
|
|
Net cash provided by (used in) investing activities |
|
|
150 |
|
|
|
(12) |
|
|
|
(9,187) |
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from issuance of common stock |
|
|
— |
|
|
|
— |
|
|
|
1,208 |
|
|
Net cash provided by financing activities |
|
|
— |
|
|
|
— |
|
|
|
1,208 |
|
|
Effect of exchange rates on cash and cash equivalents |
|
|
745 |
|
|
|
1,733 |
|
|
|
5,683 |
|
|
Net increase (decrease) in cash and cash equivalents |
|
|
10,387 |
|
|
|
(6,968) |
|
|
|
(29,762) |
|
|
Cash and cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning of the period |
|
|
73,527 |
|
|
|
90,882 |
|
|
|
102,434 |
|
|
End of the period |
|
$ |
83,914 |
|
|
$ |
83,914 |
|
|
$ |
72,672 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
