Amkor Technology Reports Financial Results for the Third Quarter 2019

*Effective January 1, 2019, we adopted Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). Upon adoption, we recorded a right-of-use asset and lease liability on our balance sheet. Prior period financial statements were not required to be adjusted for the effects of this new standard.

AMKOR TECHNOLOGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

 

 

For the Nine Months Ended September 30,

 

2019

 

2018

 

(In thousands)

Cash flows from operating activities:

 

 

 

Net income

$

22,812

 

 

$

100,671

 

Depreciation and amortization

398,013

 

 

429,181

 

Other operating activities and non-cash items

51,533

 

 

(2,006

)

Changes in assets and liabilities

(189,026

)

 

(100,628

)

Net cash provided by operating activities

283,332

 

 

427,218

 

Cash flows from investing activities:

 

 

 

Payments for property, plant and equipment

(328,497

)

 

(478,036

)

Proceeds from sale of property, plant and equipment

8,495

 

 

1,606

 

Proceeds from insurance recovery for property, plant and equipment

1,538

 

 

 

Other investing activities

(353

)

 

3,160

 

Net cash used in investing activities

(318,817

)

 

(473,270

)

Cash flows from financing activities:

 

 

 

Proceeds from revolving credit facilities

172,700

 

 

 

Payments of revolving credit facilities

(92,700

)

 

(75,000

)

Proceeds from short-term debt

51,434

 

 

23,341

 

Payments of short-term debt

(42,067

)

 

(35,125

)

Proceeds from issuance of long-term debt

714,375

 

 

372,226

 

Payments of long-term debt

(847,155

)

 

(279,697

)

Payments of finance lease obligations

(4,358

)

 

(2,669

)

Other financing activities

(1,963

)

 

(2,482

)

Net cash provided by (used in) financing activities

(49,734

)

 

594

 

Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash

1,385

 

 

(3,273

)

Net decrease in cash, cash equivalents and restricted cash

(83,834

)

 

(48,731

)

Cash, cash equivalents and restricted cash, beginning of period

688,051

 

 

602,851

 

Cash, cash equivalents and restricted cash, end of period

$

604,217

 

 

$

554,120

 


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