MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands of U.S. dollars, except share data) (Unaudited) | ||||||
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| June 30, 2023 | December 31, 2022 | ||||
Assets |
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Current assets |
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Cash and cash equivalents |
| $ 172,954 |
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| $ 225,477 |
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Accounts receivable, net |
| 35,009 |
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| 35,380 |
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Inventories, net |
| 32,337 |
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| 39,883 |
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Other receivables |
| 3,498 |
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| 7,847 |
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Prepaid expenses |
| 9,553 |
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| 10,560 |
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Hedge collateral |
| 2,120 |
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| 2,940 |
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Other current assets |
| 19,070 |
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| 15,766 |
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Total current assets |
| 274,541 |
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| 337,853 |
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Property, plant and equipment, net |
| 101,067 |
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| 110,747 |
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Operating lease right-of-use assets |
| 5,224 |
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| 5,265 |
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Intangible assets, net |
| 1,706 |
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| 1,930 |
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Long-term prepaid expenses |
| 7,430 |
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| 10,939 |
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Deferred income taxes |
| 37,141 |
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| 38,324 |
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Other non-current assets |
| 16,626 |
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| 11,587 |
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Total assets |
| $ 443,735 |
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| $ 516,645 |
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| Liabilities and Stockholders' Equity |
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| Current liabilities |
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| Accounts payable |
| $ 20,367 |
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| $ 17,998 |
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| Other accounts payable |
| 8,473 |
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| 9,702 |
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| Accrued expenses |
| 10,456 |
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| 9,688 |
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| Accrued income taxes |
| 91 |
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| 3,154 |
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| Operating lease liabilities |
| 1,745 |
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| 1,397 |
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| Other current liabilities |
| 4,506 |
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| 5,306 |
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| Total current liabilities |
| 45,638 |
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| 47,245 |
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| Accrued severance benefits, net |
| 20,123 |
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| 23,121 |
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| Non-current operating lease liabilities |
| 3,671 |
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| 4,091 |
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| Other non-current liabilities |
| 10,011 |
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| 14,035 |
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| Total liabilities |
| 79,443 |
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| 88,492 |
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| Commitments and contingencies |
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| Stockholders' equity |
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| Common stock, $0.01 par value, 150,000,000 shares authorized, 56,449,782 shares issued and 40,133,898
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| 564 |
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| 564 |
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| Additional paid-in capital |
| 269,297 |
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| 266,058 |
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| Retained earnings |
| 310,089 |
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| 335,506 |
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| Treasury stock, 16,315,884 shares at June 30, 2023 and 12,607,874 shares at December 31, 2022,
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| (199,248) |
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| (161,422) |
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| Accumulated other comprehensive loss |
| (16,410) |
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| (12,553) |
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| Total stockholders' equity |
| 364,292 |
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| 428,153 |
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| Total liabilities and stockholders' equity |
| $ 443,735 |
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| $ 516,645 |
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Magnachip Reports Results for Second Quarter 2023 Announces New $50 Million Stock Buyback Program
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