MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands of U.S. dollars, except share data) (Unaudited) |
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| September 30, 2023 | December 31, 2022 | ||||
Assets |
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Current assets |
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Cash and cash equivalents |
| $ 166,644 |
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| $ 225,477 |
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Accounts receivable, net |
| 41,119 |
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| 35,380 |
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Inventories, net |
| 30,836 |
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| 39,883 |
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Other receivables |
| 2,799 |
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| 7,847 |
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Prepaid expenses |
| 9,095 |
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| 10,560 |
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Hedge collateral |
| 2,680 |
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| 2,940 |
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Other current assets |
| 24,572 |
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| 15,766 |
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Total current assets |
| 277,745 |
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| 337,853 |
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Property, plant and equipment, net |
| 96,141 |
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| 110,747 |
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Operating lease right-of-use assets |
| 4,725 |
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| 5,265 |
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Intangible assets, net |
| 1,583 |
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| 1,930 |
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Long-term prepaid expenses |
| 6,124 |
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| 10,939 |
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Deferred income taxes |
| 36,358 |
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| 38,324 |
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Other non-current assets |
| 11,622 |
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| 11,587 |
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Total assets |
| $ 434,298 |
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| $ 516,645 |
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| Liabilities and Stockholders' Equity |
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| Current liabilities |
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| Accounts payable |
| $ 23,446 |
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| $ 17,998 |
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| Other accounts payable |
| 8,025 |
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| 9,702 |
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| Accrued expenses |
| 9,668 |
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| 9,688 |
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| Accrued income taxes |
| 48 |
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| 3,154 |
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| Operating lease liabilities |
| 1,735 |
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| 1,397 |
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| Other current liabilities |
| 4,495 |
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| 5,306 |
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| Total current liabilities |
| 47,417 |
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| 47,245 |
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| Accrued severance benefits, net |
| 20,160 |
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| 23,121 |
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| Non-current operating lease liabilities |
| 3,167 |
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| 4,091 |
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| Other non-current liabilities |
| 9,862 |
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| 14,035 |
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| Total liabilities |
| 80,606 |
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| 88,492 |
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| Commitments and contingencies |
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| Stockholders' equity |
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| Common stock, $0.01 par value, 150,000,000 shares authorized, 56,655,377 shares issued and 39,667,995
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| 566 |
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| 564 |
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| Additional paid-in capital |
| 271,419 |
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| 266,058 |
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| Retained earnings |
| 304,924 |
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| 335,506 |
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| Treasury stock, 16,987,382 shares at September 30, 2023 and 12,607,874 shares at December 31, 2022,
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| (204,645) |
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| (161,422) |
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| Accumulated other comprehensive loss |
| (18,572) |
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| (12,553) |
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| Total stockholders' equity |
| 353,692 |
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| 428,153 |
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| Total liabilities and stockholders' equity |
| $ 434,298 |
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| $ 516,645 |
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Magnachip Reports Results for Third Quarter 2023
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