Magnachip Reports Results for Fourth Quarter and Full-Year 2022

 

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






December 31,
2022


December 31,
2021


(In thousands of U.S. dollars, except share data)

Assets




Current assets




Cash and cash equivalents

$                 225,477


$                   279,547

Accounts receivable, net

35,380


50,954

Inventories, net

39,883


39,370

Other receivables

7,847


25,895

Prepaid expenses

10,560


7,675

Hedge collateral

2,940


3,060

Other current assets

15,766


2,619





Total current assets

337,853


409,120

Property, plant and equipment, net

110,747


107,882

Operating lease right-of-use assets

5,265


4,275

Intangible assets, net

1,930


2,377

Long-term prepaid expenses

10,939


8,243

Deferred income taxes

38,324


41,095

Other non-current assets

11,587


10,662





Total assets

$                 516,645


$                   583,654





Liabilities and Stockholders' Equity




Current liabilities




Accounts payable

$                   17,998


$                     37,593

Other accounts payable

9,702


6,289

Accrued expenses

9,688


20,071

Accrued income taxes

3,154


11,823

Operating lease liabilities

1,397


2,323

Other current liabilities

5,306


7,382





Total current liabilities

47,245


85,481

Accrued severance benefits, net

23,121


33,064

Non-current operating lease liabilities

4,091


1,952

Other non-current liabilities

14,035


10,395





Total liabilities

88,492


130,892





Commitments and contingencies




Stockholders' equity




Common stock, $0.01 par value, 150,000,000 shares authorized, 56,432,449 shares issued and 43,824,575 outstanding at December 31, 2022 and 55,905,320 shares issued and 45,659,304 outstanding at December 31, 2021

564


559

Additional paid-in capital

266,058


241,197

Retained earnings

335,506


343,542

Treasury stock, 12,607,874 shares at D ecember 31, 2022 and 10,246,016 shares at December 31, 2021, respectively

(161,422)


(130,306 )

Accumulated other comprehensive loss

(12,553)


(2,230 )





Total stockholders' equity

428,153


452,762





Total liabilities and stockholders' equity

$                 516,645


$                   583,654






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