MagnaChip Semiconductor
Condensed Consolidated Balance Sheets
(In thousands of US Dollars)
(Unaudited)
September 28, December 31,
2008 2007
Assets
Current assets
Cash and cash equivalents $23,870 $64,345
Accounts receivable, net 140,441 123,789
Inventories, net 59,768 75,867
Other current assets 24,019 16,722
Total current assets 248,098 280,723
Property, plant and equipment, net 204,196 279,669
Goodwill and intangible assets, net 55,077 104,725
Other non-current assets 39,784 42,766
Total assets $547,155 $707,883
Liabilities & Unitholders' Equity
Current liabilities
Accounts and other payable $125,419 $120,638
Short-term borrowings 90,000 80,000
Other current liabilities 28,890 24,477
Total current liabilities 244,309 225,115
Long-term borrowings 750,000 750,000
Other non-current liabilities 78,778 80,842
Total liabilities 1,073,087 1,055,957
Redeemable convertible preferred units 139,110 129,405
Unitholders' equity (665,042) (477,479)
Total liabilities, redeemable convertible
preferred units and unitholders' equity $547,155 $707,883
MagnaChip Semiconductor
Condensed Consolidated Statements of Cash Flows
(In thousands of US Dollars)
(Unaudited)
Nine months ended
September 28, September 30,
2008 2007
Cash flows from operating activities
Net loss $(267,281) $(151,072)
Adjustments to reconcile net loss
to net cash provided by (used in)
operating activities
Depreciation and amortization 62,752 138,787
Provision for severance benefits 13,444 13,985
(Gain) loss on foreign currency
translation, net 155,929 (9,623)
Impairment charges 26,285 10,106
Changes in accounts and other
receivable (41,181) (46,699)
Changes in inventories 1,919 (34,528)
Changes in accounts and other
payable 15,873 51,687
Changes in accrued expenses 10,701 6,118
Other (5,169) 8,014
Net cash used in operating
activities (26,728) (13,225)
Cash flows from investing activities
Capital expenditures (25,864) (64,922)
Other 3,023 486
Net cash used in investing activities (22,841) (64,436)
Cash flows from financing activities
Exercise of unit options 183 111
Repurchase of common units (496) -
Proceeds from short-term borrowings 175,000 70,397
Repayment of short-term borrowings (165,000) (20,000)
Net cash provided by financing
activities 9,687 50,508
Effect of exchange rates on cash
and cash equivalents (593) (86)
Net decrease in cash and cash
equivalents (40,475) (27,239)
Cash and cash equivalents
Beginning of the period 64,345 89,173
End of the period $23,870 $61,934
Web site: http://www.magnachip.com/
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