Magnachip Reports Results for First Quarter 2023

 

MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

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

(Unaudited)



      March 31,

      2023

    December 31,

      2022

Assets







Current assets







Cash and cash equivalents


$     212,085



$     225,477


Accounts receivable, net


32,143



35,380


Inventories, net


36,360



39,883


Other receivables


5,342



7,847


Prepaid expenses


11,238



10,560


Hedge collateral


2,820



2,940


Other current assets


14,927



15,766


Total current assets


314,915



337,853


Property, plant and equipment, net


104,568



110,747


Operating lease right-of-use assets


5,413



5,265


Intangible assets, net


1,784



1,930


Long-term prepaid expenses


9,101



10,939


Deferred income taxes


37,380



38,324


Other non-current assets


14,683



11,587


Total assets


$     487,844



$      516,645


Liabilities and Stockholders' Equity







Current liabilities







Accounts payable


$       19,921



$       17,998


Other accounts payable


9,216



9,702


Accrued expenses


17,125



9,688


Accrued income taxes


146



3,154


Operating lease liabilities


1,622



1,397


Other current liabilities


5,261



5,306


Total current liabilities


53,291



47,245


Accrued severance benefits, net


23,608



23,121


Non-current operating lease liabilities


3,996



4,091


Other non-current liabilities


13,596



14,035


Total liabilities


94,491



88,492


Commitments and contingencies







Stockholders' equity







Common stock, $0.01 par value, 150,000,000 shares authorized, 56,437,182 shares issued and 42,589,315
outstanding at March 31, 2023 and 56,432,449 shares issued and 43,824,575 outstanding at December 31, 2022


564



564


Additional paid-in capital


267,187



266,058


Retained earnings


314,036



335,506


Treasury stock, 13,847,867 shares at March 31, 2023 and 12,607,874 shares at December 31, 2022, respectively


(173,441)



(161,422)


Accumulated other comprehensive loss


(14,993)



(12,553)


Total stockholders' equity


393,353



428,153


Total liabilities and stockholders' equity


$   487,844



$     516,645



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