Amkor Technology Reports Record Financial Results for the Fourth Quarter and Full Year 2022

In this press release, we refer to EBITDA, which is not defined by U.S. GAAP. We define EBITDA as net income before interest expense, income tax expense and depreciation and amortization. We believe EBITDA to be relevant and useful information to our investors because it provides additional information in assessing our financial operating results. Our management uses EBITDA in evaluating our operating performance, and our ability to service debt, and our ability to fund capital expenditures and pay dividends. However, EBITDA has certain limitations in that it does not reflect the impact of certain expenses on our consolidated statements of income, including interest expense, which is a necessary element of our costs because we have borrowed money in order to finance our operations, income tax expense, which is a necessary element of our costs because taxes are imposed by law, and depreciation and amortization, which is a necessary element of our costs because we use capital assets to generate income. EBITDA should be considered in addition to, and not as a substitute for, or superior to, operating income, net income or other measures of financial performance prepared in accordance with U.S. GAAP. Furthermore, our definition of EBITDA may not be comparable to similarly titled measures reported by other companies. Below is our reconciliation of EBITDA to U.S. GAAP net income.

Non-GAAP Financial Measures Reconciliation:

 

 

 

 

 

 

 

 

 

(in millions)

Q4 2022

 

Q3 2022

 

Q4 2021

 

2022

 

2021

EBITDA Data:

 

 

 

 

 

 

 

 

 

Net income

$

164

 

$

306

 

$

217

 

$

767

 

$

646

Plus: Interest expense

 

15

 

 

15

 

 

13

 

 

59

 

 

52

Plus: Income tax expense

 

46

 

 

4

 

 

25

 

 

90

 

 

69

Plus: Depreciation & amortization

 

157

 

 

156

 

 

143

 

 

613

 

 

564

EBITDA

$

382

 

$

481

 

$

398

 

$

1,529

 

$

1,331


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