Magnachip Reports Results for Fourth Quarter and Year 2021


MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands of U.S. dollars, except share data)
(Unaudited)



December 31, 


2021

2020

Assets



Current assets



Cash and cash equivalents

$  279,547

$  279,940

Accounts receivable, net

50,954

64,390

Inventories, net

39,370

39,039

Other receivables

25,895

4,338

Prepaid expenses

7,675

7,332

Hedge collateral

3,060

5,250

Other current assets

2,619

9,321

Total current assets

409,120

409,610

Property, plant and equipment, net

107,882

96,383

Operating lease right-of-use assets

4,275

4,632

Intangible assets, net

2,377

2,727

Long-term prepaid expenses

8,243

4,058

Deferred income taxes

41,095

44,541

Other non-current assets

10,662

9,739

Total assets

$  583,654

$  571,690

Liabilities and Stockholders' Equity



Current liabilities



Accounts payable

$     37,593

$     52,164

Other accounts payable

6,289

2,531

Accrued expenses

20,071

16,241

Accrued income taxes

11,823

12,398

Operating lease liabilities

2,323

2,210

Current portion of long-term borrowings, net

83,479

Other current liabilities

7,382

4,595

Total current liabilities

85,481

173,618

Accrued severance benefits, net

33,064

40,462

Non-current operating lease liabilities

1,952

2,422

Other non-current liabilities

10,395

9,588

Total liabilities

130,892

226,090

Commitments and contingencies



Stockholders' equity



Common stock, $0.01 par value, 150,000,000 shares authorized, 55,905,320 shares issued and 45,659,304 outstanding at December 31, 2021 and 44,943,854 shares issued and 35,783,347 outstanding at December 31, 2020

559

450

Additional paid-in capital

241,197

163,010

Retained earnings

343,542

286,834

Treasury stock, 10,246,016 shares at December 31, 2021 and 9,160,507 shares at December 31, 2020, respectively

(130,306)

(108,397)

Accumulated other comprehensive income (loss)

(2,230)

3,703

Total stockholders' equity

452,762

345,600

Total liabilities and stockholders' equity

$   583,654

$   571,690


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