MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands of US dollars)
(Unaudited)

Three month Ended

Nine month Ended

September 30,
2019

September 30,
2019

September 30,
2018

Cash flows from operating activities

Net loss

$

(1,607)

$

(45,252)

$

(1,520)

Adjustments to reconcile net loss to net cash provided by operating 
     activities

Depreciation and amortization

8,156

24,661

23,883

Provision for severance benefits

4,085

10,491

14,686

Amortization of debt issuance costs and original issue discount

578

1,712

1,623

Loss on foreign currency, net

25,903

50,512

26,931

Restructuring and other charges

(262)

470

—

Stock-based compensation

479

1,920

3,893

Loss on early extinguishment of long-term borrowings, net

—

42

—

Other

555

61

(964)

Changes in operating assets and liabilities

Accounts receivable, net

(11,838)

(32,812)

(14,282)

Unbilled accounts receivable, net

8,007

14,208

1,187

Inventories, net

(7,910)

(6,321)

(30,296)

Other receivables

(1,845)

(4,814)

(2,669)

Other current assets

427

6,356

2,514

Accounts payable

(4,552)

27,585

17,414

Other accounts payable

(6,114)

(10,074)

(8,811)

Accrued expenses

951

3,831

(5,370)

Deferred revenue

739

(190)

3,560

Other current liabilities

403

(6,159)

1,533

Other non-current liabilities

(908)

808

1,035

Payment of severance benefits

(1,616)

(6,195)

(9,004)

Other

(767)

(821)

(329)

Net cash provided by operating activities

12,864

30,019

25,014

Cash flows from investing activities

Proceeds from settlement of hedge collateral

7,998

12,625

11,290

Payment of hedge collateral

(8,629)

(17,024)

(10,965)

Proceeds from disposal of plant, property and equipment

—

202

1,685

Purchase of plant, property and equipment

(1,693)

(16,693)

(18,875)

Payment for property related to water treatment facility 
     arrangement

—

—

(4,283)

Payment for intellectual property registration

(265)

(907)

(776)

Collection of guarantee deposits

151

539

794

Payment of guarantee deposits

—

(1,330)

(89)

Other

32

23

(38)

Net cash used in investing activities

(2,406)

(22,565)

(21,257)

Cash flows from financing activities

Repurchase of long-term borrowings

—

(1,175)

—

Proceeds from exercise of stock options

889

1,038

1,113

Acquisition of treasury stock

—

(2,588)

(199)

Proceeds from property related to water treatment facility 
     arrangement

—

—

4,283

Repayment of financing related to water treatment facility 
     arrangement

(134)

(415)

(73)

Repayment of principal portion of lease liabilities

(56)

(174)

—

Net cash provided by (used in) financing activities

699

(3,314)

5,124

Effect of exchange rates on cash, cash equivalents and restricted cash

(3,569)

(5,237)

(3,974)

Net increase (decrease) in cash, cash equivalents and 
     restricted cash

7,588

(1,097)

4,907

Cash, cash equivalents and restricted cash

Beginning of the period

123,753

132,438

128,575

End of the period

$

131,341

$

131,341

$

133,482