MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands of U.S. dollars) (Unaudited) |
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| Three Months Ended |
| Nine Months
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| September 30,
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| September 30,
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| September 30,
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Cash flows from operating activities |
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Net loss | $ (5,165) |
| $ (30,582) |
| $ (11,007) |
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Adjustments to reconcile net loss to net cash provided by (used in) operating activities |
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Depreciation and amortization | 4,081 |
| 12,583 |
| 11,225 |
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Provision for severance benefits | 1,267 |
| 5,358 |
| 5,163 |
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Loss on foreign currency, net | 5,415 |
| 14,532 |
| 66,335 |
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Provision for inventory reserves | 1,914 |
| 3,035 |
| 7,730 |
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Stock-based compensation | 2,171 |
| 5,383 |
| 4,487 |
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Other, net | 230 |
| 680 |
| 631 |
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Changes in operating assets and liabilities |
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Accounts receivable, net | (6,067) |
| (6,409) |
| 7,805 |
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Inventories | (1,276) |
| 3,635 |
| (13,208) |
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Other receivables | 586 |
| 4,993 |
| 17,115 |
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Other current assets | (2,686) |
| (2,291) |
| (14,117) |
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Accounts payable | 3,186 |
| 6,066 |
| (14,792) |
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Other accounts payable | (250) |
| (6,738) |
| (6,215) |
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| Accrued expenses | (485) |
| 619 |
| 5,866 |
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| Accrued income taxes | (42) |
| (3,014) |
| (11,483) |
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| Other current liabilities | (270) |
| (741) |
| (1,583) |
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| Other non-current liabilities | (65) |
| (279) |
| 523 |
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| Payment of severance benefits | (455) |
| (6,183) |
| (4,181) |
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| Other, net | (354) |
| (841) |
| (50) |
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| Net cash provided by (used in) operating activities | 1,735 |
| (194) |
| 50,244 |
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| Cash flows from investing activities |
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| Proceeds from settlement of hedge collateral | — |
| 3,335 |
| 2,805 |
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| Payment of hedge collateral | (568) |
| (3,154) |
| (15,282) |
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| Purchase of property, plant and equipment | (762) |
| (2,280) |
| (11,812) |
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| Payment for intellectual property registration | (67) |
| (230) |
| (301) |
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| Collection of guarantee deposits | 3,539 |
| 4,984 |
| 242 |
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| Payment of guarantee deposits | (369) |
| (7,276) |
| (2,075) |
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| Other | — |
| — |
| 550 |
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| Net cash provided by (used in) investing activities | 1,773 |
| (4,621) |
| (25,873) |
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| Cash flows from financing activities |
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| Proceeds from exercise of stock options | — |
| 27 |
| 1,786 |
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| Acquisition of treasury stock | (6,247) |
| (43,087) |
| (5,065) |
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| Repayment of financing related to water treatment facility arrangement | (123) |
| (371) |
| (381) |
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| Repayment of principal portion of finance lease liabilities | (23) |
| (69) |
| (50) |
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| Net cash used in financing activities | (6,393) |
| (43,500) |
| (3,710) |
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| Effect of exchange rates on cash and cash equivalents | (3,425) |
| (10,518) |
| (49,377) |
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| Net decrease in cash and cash equivalents | (6,310 ) |
| (58,833) |
| (28,716) |
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| Cash and cash equivalents |
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| Beginning of the period | 172,954 |
| 225,477 |
| 279,547 |
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| End of the period | $ 166,644 |
| $ 166,644 |
| $ 250,831 |
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Magnachip Reports Results for Third Quarter 2023
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