MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES
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| Three Months Ended |
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| Year Ended |
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| December 31, |
| September 30, |
| December 31, |
| December 31, |
| December 31, |
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| 2021 |
| 2021 |
| 2020 |
| 2021 |
| 2020 |
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Operating income |
| $ | 63,870 |
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| $ | 20,001 |
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| $ | 9,206 |
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| $ | 83,407 |
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| $ | 27,016 |
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Adjustments: |
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Equity-based compensation expense |
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| 1,648 |
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|
| 2,005 |
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| 1,945 |
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| 7,704 |
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| 6,311 |
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Inventory reserve related to Huawei impact of downstream trade restrictions |
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| (379) |
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|
| (1,081) |
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| (871) |
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| (1,460) |
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|
| 1,460 |
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Expenses related to Fab 3 power outage |
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| — |
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| — |
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| — |
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| — |
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| 1,168 |
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Merger-related costs (income), net |
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| (49,369) |
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|
| 1,552 |
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|
| 653 |
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| (35,527) |
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| 653 |
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Early termination and other charges, net |
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| (1,349) |
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|
| 214 |
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| 4,422 |
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| 2,011 |
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| 4,976 |
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Adjusted operating income |
| $ | 14,421 |
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| $ | 22,691 |
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| $ | 15,355 |
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| $ | 56,135 |
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| $ | 41,584 |
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Magnachip Reports Results for Fourth Quarter and Year 2021
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