Magnachip Reports Results for Fourth Quarter and Year 2021

 

MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES
RECONCILIATION OF OPERATING INCOME TO ADJUSTED OPERATING INCOME
(In thousands of U.S. dollars)
(Unaudited)




Three Months Ended



Year Ended



December 31,


September 30,


December 31,


December 31,


December 31,



2021


2021


2020


2021


2020


Operating income


$

63,870



$

20,001



$

9,206



$

83,407



$

27,016


Adjustments:





















Equity-based compensation expense



1,648




2,005




1,945




7,704




6,311


Inventory reserve related to Huawei impact of downstream trade restrictions



(379)




(1,081)




(871)




(1,460)




1,460


Expenses related to Fab 3 power outage















1,168


Merger-related costs (income), net



(49,369)




1,552




653




(35,527)




653


Early termination and other charges, net



(1,349)




214




4,422




2,011




4,976


Adjusted operating income


$

14,421



$

22,691



$

15,355



$

56,135



$

41,584



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