|
MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands of US dollars) (Unaudited) |
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Three Months
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Year Ended |
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December 31, 2016 |
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December 31, 2016 |
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December 31, 2015 |
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Cash flows from operating activities |
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Net loss |
|
$ |
(49,790) |
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|
$ |
(29,615) |
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|
$ |
(84,867) |
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|
Adjustments to reconcile net loss to net cash provided by (used in) operating activities |
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|
|
|
|
|
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|
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|
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|
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Depreciation and amortization |
|
|
6,625 |
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|
|
25,416 |
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|
|
26,490 |
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|
Provision for severance benefits |
|
|
823 |
|
|
|
14,432 |
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|
15,289 |
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Amortization of debt issuance costs and original issue discount |
|
|
180 |
|
|
|
707 |
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|
660 |
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Loss on foreign currency, net |
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|
57,066 |
|
|
|
18,884 |
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|
|
46,984 |
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|
Stock-based compensation |
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|
877 |
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|
|
3,843 |
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|
2,768 |
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Restructuring gain |
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— |
|
|
|
(7,785) |
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— |
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Other |
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|
(318) |
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|
|
103 |
|
|
|
2,434 |
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Changes in operating assets and liabilities |
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|
|
|
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|
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|
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Accounts receivable, net |
|
|
(692) |
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|
|
285 |
|
|
|
3,299 |
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|
Inventories, net |
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|
8,855 |
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|
|
(557) |
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|
|
12,929 |
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|
Other receivables |
|
|
(1,089) |
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|
|
19,125 |
|
|
|
(21,463) |
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Other current assets |
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|
4,490 |
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|
|
5,000 |
|
|
|
11,339 |
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|
Deferred tax assets |
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|
34 |
|
|
|
65 |
|
|
|
372 |
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|
Accounts payable |
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|
(11,251) |
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|
|
(4,163) |
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(12,605) |
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Other accounts payable |
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|
(1,839) |
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|
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(6,603) |
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|
|
(10,892) |
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Accrued expenses |
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5,782 |
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|
|
(16,305) |
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|
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(1,679) |
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Deferred revenue |
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|
(988) |
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|
|
1,674 |
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|
|
8,136 |
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Other current liabilities |
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|
(1,462) |
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|
|
(5,331) |
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|
|
(1,210) |
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Other non-current liabilities |
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|
(162) |
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|
|
(1,574) |
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|
3,105 |
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Payment of severance benefits |
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(1,174) |
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|
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(15,352) |
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(11,394) |
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Other |
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5,595 |
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|
|
5,382 |
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|
|
328 |
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Net cash provided by (used in) operating activities |
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|
21,562 |
|
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|
7,631 |
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|
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(9,977) |
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Cash flows from investing activities |
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|
|
|
|
|
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|
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Proceeds from settlement of hedge collateral |
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|
— |
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|
|
6,317 |
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|
|
10,841 |
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Payment of hedge collateral |
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|
(1,058) |
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|
|
(3,552) |
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|
(17,182) |
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Proceeds from disposal of plant, property and equipment |
|
|
503 |
|
|
|
688 |
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|
|
9,886 |
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Purchase of property, plant and equipment |
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(7,382) |
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|
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(18,727) |
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|
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(6,350) |
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Payment for intellectual property registration |
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(295) |
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(1,049) |
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(742) |
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Collection of guarantee deposits |
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|
143 |
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|
|
619 |
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|
636 |
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Payment of guarantee deposits |
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(8) |
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|
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(193) |
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(675) |
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Other |
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|
14 |
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|
23 |
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|
195 |
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Net cash used in investing activities |
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|
(8,083) |
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|
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(15,874) |
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|
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(3,391) |
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Cash flows from financing activities |
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|
|
|
|
|
|
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Proceeds from issuance of common stock |
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|
230 |
|
|
|
1,732 |
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|
3,436 |
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Net cash provided by financing activities |
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|
230 |
|
|
|
1,732 |
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|
|
3,436 |
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|
Effect of exchange rates on cash and cash equivalents |
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|
(5,782) |
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|
|
(1,016) |
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|
|
(1,620) |
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Net increase (decrease) in cash and cash equivalents |
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|
7,927 |
|
|
|
(7,527) |
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|
|
(11,552) |
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Cash and cash equivalents |
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|
|
|
|
|
|
|
|
|
|
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|
Beginning of the period |
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|
75,428 |
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|
|
90,882 |
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|
|
102,434 |
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|
End of the period |
|
$ |
83,355 |
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|
$ |
83,355 |
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$ |
90,882 |
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Supplemental disclosure of non-cash investing activity |
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Restricted cash received from sale of property, plant and equipment |
|
$ |
(16,917) |
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$ |
(16,917) |
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|
$ |
— |
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