In the press release above we refer to free cash flow, which is not defined by U.S. GAAP. We define free cash flow as net cash provided by operating activities less payments for property, plant and equipment, plus proceeds from the sale of and insurance recovery for property, plant and equipment. We believe free cash flow to be relevant and useful information to our investors because it provides them with additional information in assessing our liquidity, capital resources and financial operating results. Our management uses free cash flow in evaluating our liquidity, our ability to service debt and our ability to fund capital expenditures. However, free cash flow has certain limitations, including that it does not represent the residual cash flow available for discretionary expenditures since other, non-discretionary expenditures, such as mandatory debt service, are not deducted from the measure. The amount of mandatory versus discretionary expenditures can vary significantly between periods. This measure should be considered in addition to, and not as a substitute for, or superior to, other measures of liquidity or financial performance prepared in accordance with U.S. GAAP, such as net cash provided by operating activities. Furthermore, our definition of free cash flow may not be comparable to similarly titled measures reported by other companies. Below is our reconciliation of free cash flow to U.S. GAAP net cash provided by operating activities.

Non-GAAP Financial Measures Reconciliation:
		Q4 2016				Q3 2016				Q4 2015				2016				2015
		(in millions)
Free Cash Flow Data:
Net cash provided by operating activities		$	238			$	219			$	154			$	729			$	585
Less: Purchases of property, plant and equipment			(168	)			(126	)			(185	)			(650	)			(538	)
Plus: Proceeds from sale of and insurance recovery for property, plant and equipment			47				13				2				61				7
Free cash flow		$	117			$	106			$	(29	)		$	140			$	54

AMKOR TECHNOLOGY, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
		For the Three Months Ended								For the Year Ended
		December 31,								December 31,
		2016				2015				2016				2015
		(In thousands, except per share data)
Net sales		$	1,021,613			$	670,644			$	3,893,635			$	2,884,603
Cost of sales			794,426				568,024				3,198,158				2,405,338
Gross profit			227,187				102,620				695,477				479,265
Selling, general and administrative			67,437				58,800				284,331				232,409
Research and development			33,061				22,898				117,206				82,017
Total operating expenses			100,498				81,698				401,537				314,426
Operating income			126,689				20,922				293,940				164,839
Interest expense			21,172				17,090				79,668				81,407
Interest expense, related party			1,242				1,242				4,969				4,969
Other (income) expense, net			(15,461	)			15,335				(5,854	)			10,551
Total other expense, net			6,953				33,667				78,783				96,927
Income (loss) before taxes and equity in earnings of unconsolidated affiliate			119,736				(12,745	)			215,157				67,912
Income tax expense			18,534				837				47,853				28,035
Income (loss) before equity in earnings of unconsolidated affiliate			101,202				(13,582	)			167,304				39,877
Equity in earnings of J-Devices			—				3,429				—				14,016
Net income (loss)			101,202				(10,153	)			167,304				53,893
Net income attributable to noncontrolling interests			(939	)			(409	)			(3,114	)			(2,795	)
Net income (loss) attributable to Amkor		$	100,263			$	(10,562	)		$	164,190			$	51,098
Net income (loss) attributable to Amkor per common share:
Basic		$	0.42			$	(0.04	)		$	0.69			$	0.22
Diluted		$	0.42			$	(0.04	)		$	0.69			$	0.22
Shares used in computing per common share amounts:
Basic			238,190				236,961				237,416				236,850
Diluted			239,187				236,961				238,034				237,170

AMKOR TECHNOLOGY, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
		December 31,
		2016				2015
		(In thousands)
ASSETS
Current assets:
Cash and cash equivalents		$	549,518			$	523,172
Restricted cash			2,000				2,000
Accounts receivable, net of allowances			563,107				526,143
Inventories			267,990				238,205
Other current assets			27,081				27,960
Total current assets			1,409,696				1,317,480
Property, plant and equipment, net			2,564,648				2,579,017
Goodwill			24,122				23,409
Restricted cash			3,977				2,176
Other assets			89,643				104,346
Total assets		$	4,092,086			$	4,026,428
LIABILITIES AND EQUITY
Current liabilities:
Short-term borrowings and current portion of long-term debt		$	35,192			$	76,770
Trade accounts payable			487,430				434,222
Capital expenditures payable			144,370				242,980
Accrued expenses			338,669				264,212
Total current liabilities			1,005,661				1,018,184
Long-term debt			1,364,638				1,435,269
Long-term debt, related party			75,000				75,000
Pension and severance obligations			166,701				167,197
Other non-current liabilities			76,682				113,242
Total liabilities			2,688,682				2,808,892
Amkor stockholders’ equity:
Preferred stock			—				—
Common stock			284				283
Additional paid-in capital			1,895,089				1,883,592
Accumulated deficit			(303,557	)			(467,747	)
Accumulated other comprehensive income (loss)			6,262				(2,084	)
Treasury stock			(214,490	)			(213,758	)
Total Amkor stockholders’ equity			1,383,588				1,200,286
Noncontrolling interests in subsidiaries			19,816				17,250
Total equity			1,403,404				1,217,536
Total liabilities and equity		$	4,092,086			$	4,026,428

AMKOR TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
		For the Year Ended
		December 31,
		2016				2015
		(In thousands)
Cash flows from operating activities:
Net income		$	167,304			$	53,893
Depreciation and amortization			555,186				494,200
Loss on debt retirement			—				9,560
Loss from acquisition of J-Devices			—				13,501
Proceeds from insurance recovery for property, plant and equipment			(15,166	)			—
Other operating activities and non-cash items			7,156				(3,992	)
Changes in assets and liabilities			14,922				17,813
Net cash provided by (used in) operating activities			729,402				584,975
Cash flows from investing activities:
Payments for property, plant and equipment			(650,038	)			(537,975	)
Proceeds from sale of property, plant and equipment			45,635				6,945
Proceeds from insurance recovery for property, plant and equipment			15,166				—
Cash received from business acquisition of J-Devices, net			—				22,577
Disposition of business to J-Devices, net of cash transferred			—				8,355
Investment in J-Devices			—				(12,908	)
Other investing activities			(190	)			(1,984	)
Net cash provided by (used in) investing activities			(589,427	)			(514,990	)
Cash flows from financing activities:
Borrowings under revolving credit facilities			115,000				290,000
Payments under revolving credit facilities			(155,000	)			(150,000	)
Borrowings under short-term debt			49,131				—
Payments of short-term debt			(49,500	)			—
Proceeds from issuance of long-term debt			56,000				400,000
Payments of long-term debt			(132,078	)			(530,000	)
Payments for debt issuance costs			(156	)			(312	)
Payments for retirement of debt			—				(7,030	)
Payments for capital lease obligations			(2,543	)			—
Proceeds from issuance of stock through share-based compensation plans			8,247				931
Payments of tax withholding for restricted shares			(732	)			(730	)
Payments of subsidiary dividends to noncontrolling interests			(548	)			(246	)
Net cash provided by (used in) financing activities			(112,179	)			2,613
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash			351				—
Net increase (decrease) in cash, cash equivalents and restricted cash			28,147				72,598
Cash, cash equivalents and restricted cash, beginning of period			527,348				454,750
Cash, cash equivalents and restricted cash, end of period		$	555,495			$	527,348

« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »