MAGNACHIP SEMICONDUCTOR CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands of US dollars)
(Unaudited)

Three Months Ended

March 31,
2015

March 31,
2014

Cash flows from operating activities

Net loss

$

(20,029)

$

(21,605)

Adjustments to reconcile net loss to net cash used in operating activities

Depreciation and amortization

6,870

7,268

Provision for severance benefits

7,260

4,034

Bad debt expenses (reversal of allowance)

(20)

94

Amortization of debt issuance costs and original issue discount

162

149

Loss on foreign currency, net

4,179

11,007

Stock-based compensation

185

617

Other

(222)

367

Changes in operating assets and liabilities

Accounts receivable

133

(28,094)

Inventories, net

(1,701)

(10,028)

Other receivables

6,140

691

Other current assets

(1,653)

(806)

Deferred tax assets

324

366

Accounts payable

5,902

(837)

Other accounts payable

(4,881)

(1,230)

Accrued expenses

(7,626)

(3,273)

Other current liabilities

(1,774)

(1,790)

Other non-current Liabilities

(220)

548

Payment of severance benefits

(1,341)

(1,514)

Other

(367)

(150)

Net cash used in operating activities

(8,679)

(44,186)

Cash flows from investing activities

Purchase of plant, property and equipment

(557)

(6,259)

Payment for intellectual property registration

(77)

(92)

Payment of guarantee deposits

(411)

(289)

Other

15

7

Net cash used in investing activities

(1,030)

(6,633)

Cash flows from financing activities

Proceeds from issuance of common stock

—

67

Net cash provided by financing activities

—

67

Effect of exchange rates on cash and cash equivalents

(1,330)

1,914

Net decrease in cash and cash equivalents

(11,039)

(48,838)

Cash and cash equivalents

Beginning of the period

102,434

153,606

End of the period

$

91,395

$

104,768