| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | ||||||||||||
| CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED) | ||||||||||||
| (dollars in thousands) | ||||||||||||
| Three months ended | ||||||||||||
| December 31, | September 30, | December 31, | ||||||||||
| 2023 | 2023 | 2022 | ||||||||||
| CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | $ | 314,816 | $ | 318,195 | $ | 390,369 | ||||||
| Net cash provided by operating activities * | 126,098 | 402,242 | 132,750 | |||||||||
| Investments in property and equipment, net | (136,426 | ) | (101,080 | ) | (38,186 | ) | ||||||
| Debt received (repaid) and others, net | (8,950 | ) | 15,493 | (11,465 | ) | |||||||
| Proceeds from an investment in a subsidiary | -- | -- | 6,216 | |||||||||
| Effect of Japanese Yen exchange rate change over cash balance | 2,101 | (1,537 | ) | 11,498 | ||||||||
| Investments in short-term deposits, marketable securities and other assets, net | (36,975 | ) | (318,497 | ) | (150,423 | ) | ||||||
| CASH AND CASH EQUIVALENTS - END OF PERIOD | $ | 260,664 | $ | 314,816 | $ | 340,759 | ||||||
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* Merger-contract termination fee received from Intel during the third quarter of 2023, net of cost, in the amount of $313,501 was
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included within the net cash provided by operating activities for the three months ended September 30, 2023.
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Year ended
| ||||||||||||
| December 31, | December 31, | |||||||||||
| 2023 | 2022 | |||||||||||
| CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | $ | 340,759 | $ | 210,930 | ||||||||
| Net cash provided by operating activities ** | 676,561 | 529,820 | ||||||||||
| Investments in property and equipment, net | (432,184 | ) | (213,537 | ) | ||||||||
| Debt repaid and others, net | (32,346 | ) | (78,335 | ) | ||||||||
| Proceeds from an investment in a subsidiary | 1,932 | 11,685 | ||||||||||
| Effect of Japanese Yen exchange rate change over cash balance | (5,395 | ) | (3,893 | ) | ||||||||
| Investments in short-term deposits, marketable securities and other assets, net | (288,663 | ) | (115,911 | ) | ||||||||
| CASH AND CASH EQUIVALENTS - END OF PERIOD | $ | 260,664 | $ | 340,759 | ||||||||
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** Merger-contract termination fee received from Intel during 2023, net of cost, in the amount of $313,501 was included within the net cash provided by operating activities for the year ended December 31, 2023.
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Tower Semiconductor Reports 2023 Fourth Quarter and Full Year Financial Results
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