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Borrowings (Tables)

3 Months Ended

Mar. 31, 2020

Borrowings as of March 31, 2020 and December 31, 2019 are as follows (in thousands):


	March 31, 2020			December 31, 2019
5.0% Exchangeable Senior Notes due March 2021	$	83,740		$	83,740
6.625% Senior Notes due July 2021		224,250			224,250
Less: unamortized discount and debt issuance costs		(2,650	)		(3,247	)

Total borrowings, net		305,340			304,743
Less: current portion of long-term borrowings, net		(82,328	)		—

Long-term borrowings, net	$	223,012		$	304,743

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 157,293	$ 151,657
Accounts receivable, net	60,688	47,447
Inventories, net	37,130	41,404
Other receivables	8,297	10,200
Prepaid expenses	11,148	9,003
Hedge collateral (Note 9)	13,270	9,820
Other current assets (Notes 10 and 18)	6,762	10,013
Current assets held for sale (Note 2)	201,619	99,821
Total current assets	496,207	379,365
Property, plant and equipment, net	67,201	73,068
Operating lease right-of-use assets	1,413	1,876
Intangible assets, net	2,583	2,769
Long-term prepaid expenses	4,117	5,757
Other non-current assets	8,439	9,059
Non-current assets held for sale (Note 2)		123,434
Total assets	579,960	595,328
Current liabilities
Accounts payable	40,206	40,376
Other accounts payable	6,379	6,410
Accrued expenses	41,489	44,799
Operating lease liabilities	1,301	1,625
Current portion of long-term borrowings, net	82,328
Other current liabilities (Note 10)	6,982	3,583
Current liabilities held for sale (Note 2)	142,013	37,040
Total current liabilities	320,698	133,833
Long-term borrowings, net	223,012	304,743
Accrued severance benefits, net	48,765	51,181
Other non-current liabilities (Note 6)	8,641	9,671
Non-current liabilities held for sale (Note 2)		110,881
Total liabilities	601,116	610,309
Commitments and contingencies (Note 18)
Stockholders' equity
Common stock, $0.01 par value, 150,000,000 shares authorized, 44,160,355 shares issued and 35,054,682 outstanding at March 31, 2020 and 43,851,991 shares issued and 34,800,312 outstanding at December 31, 2019	442	439
Additional paid-in capital	153,286	152,404
Accumulated deficit	(81,880)	(58,131)
Treasury stock, 9,105,673 shares at March 31, 2020 and 9,051,679 shares at December 31, 2019, respectively	(107,649)	(107,033)
Accumulated other comprehensive income (loss)	14,645	(2,660)
Total stockholders' deficit	(21,156)	(14,981)
Total liabilities and stockholders' equity	$ 579,960	$ 595,328

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (23,749)	$ (34,125)
Other comprehensive income (loss)
Foreign currency translation adjustments	22,251	7,304
Derivative adjustments
Fair valuation of derivatives	(5,004)	(499)
Reclassification adjustment for loss on derivatives included in net loss	58	187
Total other comprehensive income	17,305	6,992
Total comprehensive loss	$ (6,444)	$ (27,133)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Intangible asset, Gross amount	$ 24,181	$ 25,392
Accumulated amortization	(21,598)	(22,623)
Intangible asset, Net amount	2,583	2,769
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, Gross amount	6,226	6,575
Accumulated amortization	(6,226)	(6,575)
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, Gross amount	9,641	10,180
Accumulated amortization	(9,641)	(10,180)
Intellectual Property Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, Gross amount	8,314	8,637
Accumulated amortization	(5,731)	(5,868)
Intangible asset, Net amount	$ 2,583	$ 2,769

Accrued Severance Benefits - Future Benefits Payments to Employees (Detail) $ in Thousands	Mar. 31, 2020 USD ($)
Retirement Benefits [Abstract]
Remainder of 2020	$ 369
2021	626
2022	823
2023	580
2024	788
2025	2,201
2026 – 2030	$ 19,439

Business, Basis of Presentation and Significant Accounting Policies

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Business, Basis of Presentation and Significant Accounting Policies

1. Business, Basis of Presentation and Significant Accounting Policies

Business

MagnaChip Semiconductor Corporation (together with its subsidiaries, the “Company”) is a designer and manufacturer of analog and mixed-signal semiconductor platform solutions for communications, Internet of Things (“IoT”) applications, consumer, industrial and automotive applications. The Company provides technology platforms for analog, mixed signal, power, high voltage,

non-volatile

memory and Radio Frequency (“RF”) applications.

On March 30, 2020, the Company entered into a definitive Business Transfer Agreement (the “BTA”) for the sale of its Foundry Services Group business and its fabrication facility located in Cheongju (“Fab 4”), the larger of the Company’s two

8-inch

manufacturing facilities, to Magnus Semiconductor, LLC, a Korean limited liability company, or one of its wholly owned subsidiaries (the “Buyer”) for a purchase price equal to the KRW equivalent o

f $344.7

million in cash, subject to working capital adjustments set forth in the BTA. The Buyer is a special purpose company formed by Alchemist Capital Partners Korea Co., Ltd. and Credian Partners, Inc. This planned divestiture of the Foundry Services Group business and Fab 4 will allow the Company to strategically shift its operational focus to its standard products business. The Foundry Services Group was historically a reportable segment. As a result of the entry into the BTA, the results of the Foundry Services Group were classified as discontinued operations in the Company’s consolidated statements of operations and excluded from both continuing operations and segment results for all periods presented. Accordingly, commencing with the first quarter of 2020, the Company has one reportable segment: its standard products business, together with transitional foundry services associated with its fabrication facility located in Gumi, Korea, known as “Fab 3,” that it expects to perform for the Buyer for a period of up to three years (the “Transitional Fab 3 Foundry Services”). The Company’s standard products business includes its Display Solutions and Power Solutions business lines. The Company’s Display Solutions products provide panel display solutions to major suppliers of large and small rigid and flexible panel displays, and mobile, automotive applications and home appliances. The Company’s Power Solutions products include discrete and integrated circuit solutions for power management in communications, consumer and industrial applications.

Basis of Presentation

The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). These interim consolidated financial statements include normal recurring adjustments and the elimination of all intercompany accounts and transactions which are, in the opinion of management, necessary to provide a fair statement of the Company’s financial condition and results of operations for the periods presented. These interim consolidated financial statements are presented in accordance with Accounting Standards Codification 270, “Interim Reporting” and, accordingly, do not include all of the information and note disclosures required by US GAAP for complete financial statements, except for the changes below. The results of operations for the three months ended March 31, 2020 are not necessarily indicative of the results to be expected for a full year or for any other periods.

The Company has reclassified certain prior year amounts to conform to the current year’s presentation for discontinued operations to reflect the anticipated divestiture of its Foundry Services Group business and Fab 4. The assets to be acquired and liabilities to be transferred to the Buyer, as specified in the BTA, have been classified as assets and liabilities held for sale in the Company’s consolidated balance sheets, subject to adjustments set forth in the BTA. See Note 2 “Discontinued Operations and Assets Held for Sale” for additional information. The consolidated statements of cash flows have not been adjusted to separately disclose cash flows related to discontinued operations, but the material items in the operating and investing activities of cash flows relating to discontinued operations are disclosed in Note 2. Unless otherwise stated, information in these notes to consolidated financial statements relates to the Company’s continuing operations and excludes the discontinued operations.

There have been no material changes to the Company’s significant accounting policies as of and for the three months ended March 31, 2020, except for those related to discontinued operations and assets held for sale as described below, as compared to the significant accounting policies described in the Company’s Annual Report on Form

10-K

for the fiscal year ended December 31, 2019.

Discontinued Operations and Assets Held for Sale

The Company reports the results of operations of a business as discontinued operations if a disposal represents a strategic shift that has or will have a major effect on the Company’s operations and financial results when the business is sold and classified as held for sale, in accordance with the criteria of Accounting Standard Codification (“ASC”) 205, “Presentation of Financial Statements” (“ASC 205”) and ASC 360, “Property, Plant and Equipment” (“ASC 360”). Assets and liabilities of a business classified as held for sale are recorded at the lower of its carrying amount or estimated fair value less costs to sell. If the carrying amount of the business exceeds its estimated fair value less costs to sell, a loss is recognized. Assets and liabilities related to discontinued operations classified as held for sale are segregated in the current and prior balance sheets in the period in which the business is classified as held for sale. The results of discontinued operations are reported in “Income (loss) from discontinued operations, net of tax” in the accompanying consolidated statements of operations for the current and prior periods commencing in the period in which the business meets the criteria.

Recent Accounting Pronouncements Not Yet Adopted

In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update

No. 2019-12,

“Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU

2019-12”).

ASU

2019-12

removes certain exceptions to the general principles in Topic 740 and improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU

2019-12

is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company does not expect the adoption of ASU

2019-12

to have a material effect on the Company’s consolidated financial statements.

Recently Adopted Accounting Pronouncements

In June 2016, the FASB issued Accounting Standards Update

No. 2016-13,

“Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU

2016-13”).

ASU

2016-13

amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. In April 2019, the FASB issued Accounting Standards Update

No. 2019-04,

“Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments” (“ASU

2019-04”),

and in November 2019, the FASB issued Accounting Standards Update

No. 2019-11,

“Codification Improvements to Topic 326, Financial Instruments—Credit Losses” (“ASU

2019-11”)

to clarify and address certain items related to the amendments in ASU

2016-13.

In February 2020, the FASB issued Accounting Standards Update

No. 2020-02,

“Financial Instruments—Credit Losses (Topic 326)” (“ASU

2020-02”),

which incorporates SEC SAB 119 (updated from SAB 102) into the ASC by aligning SEC recommended policies and procedures with ASC 326.The Company adopted ASU 2016-13, ASU

2019-04,

ASU

2019-11

and ASU

2020-02

as of January 1, 2020, and the adoption did not have a material impact on the Company’s consolidated financial statements.

In August 2018, the FASB issued Accounting Standards Update

No. 2018-13

“Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement” (“ASU

2018-13”).

ASU

2018-13

amends existing fair value measurement disclosure requirements by adding, changing, or removing certain disclosures. The Company adopted ASU 2018-13 as of January 1, 2020, and the adoption of ASU 2018-13 did not impact the Company’s consolidated financial statements.

Fair Value Measurements - Schedule of Fair Value of Long-term Borrowings (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Long-term Borrowings:
Carrying amount of senior notes	$ 223,012	$ 304,743
5.0% Exchangeable Senior Notes due March 2021 [Member] \| Exchangeable Senior Notes [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Long-term Borrowings:
Carrying amount of senior notes	82,328	81,959
Estimated fair value of senior notes	94,479	116,078
6.625% Senior Notes Due 2021 [Member] \| Senior Notes [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Long-term Borrowings:
Carrying amount of senior notes	223,012	222,784
Estimated fair value of senior notes	$ 210,795	$ 224,250

Geographic and Other Information - Net Sales by Region, Based on Location of Products are Billed (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 120,473	$ 107,267
Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	110,736	100,264
Standard products business [Member] \| Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	30,817	34,646
Standard products business [Member] \| Asia Pacific (Other Than Korea) [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	77,542	63,747
Standard products business [Member] \| United States. [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	709	462
Standard products business [Member] \| Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	971	1,133
Standard products business [Member] \| Others [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 697	$ 276

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Property, Plant and Equipment [Line Items]
Depreciation expenses	$ 2,409	$ 2,412
Payment of Termination Fee	34,470
Escrow Deposit	$ 34,470

Accrued Expenses

3 Months Ended

Mar. 31, 2020

Payables and Accruals [Abstract]

Accrued Expenses

8. Accrued Expenses

Accrued expenses as of March 31, 2020 and December 31, 2019 are comprised of the following (in thousands):


	March 31, 2020		December 31, 2019
Payroll, benefits and related taxes, excluding severance benefits	$	8,992	$	8,493
Withholding tax attributable to intercompany interest income		23,771		23,371
Interest on senior notes		3,444		8,205
Outside service fees		1,224		1,996
Others		4,058		2,734

Accrued expenses	$	41,489	$	44,799

Fair Value Measurements - Additional Information (Detail) - USD ($)			3 Months Ended
	Jan. 17, 2017	Jul. 18, 2013	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Feb. 28, 2019	Jan. 31, 2019	Dec. 31, 2018
6.625% Senior Notes Due 2021 [Member] \| Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate		6.625%	6.625%	6.625%
Aggregate principal amount		$ 225,000,000
Debt issuance costs paid		5,039,000
Original debt issue discount		$ 1,125,000
Principal Repurchase Amount Of Exchangeable Notes							$ 250,000	$ 500,000
5.0% Exchangeable Senior Notes due March 2021 [Member] \| Exchangeable Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate	5.00%		5.00%	5.00%
Aggregate principal amount	$ 86,250,000
Debt issuance costs paid	$ 5,902,000		$ 5,902,000
Principal Repurchase Amount Of Exchangeable Notes						$ 920,000		$ 1,590,000
Other Asset Class [Member] \| Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets fair value on non-recurring basis			0		$ 0
Liabilities fair value on non-recurring basis			$ 0		$ 0

Loss Per Share - Schedule of Antidilutive Securities Excluded from the Computation of Loss Per Common Share (Detail) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding units and warrants excluded from computation of diluted loss per share/unit	10,144,155	10,182,542
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding units and warrants excluded from computation of diluted loss per share/unit	2,163,845	2,632,300
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding units and warrants excluded from computation of diluted loss per share/unit	729,939	508,943

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	$ (14,981)	$ (17,310)
Total other comprehensive income	17,305	6,992
Balance ending	(21,156)	(46,311)
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(4,205)	(20,061)
Other comprehensive income (loss) before reclassifications	22,251	7,304
Total other comprehensive income	22,251	7,304
Balance ending	18,046	(12,757)
Derivative Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	1,545	(49)
Other comprehensive income (loss) before reclassifications	(5,004)	(499)
Amounts reclassified from accumulated other comprehensive loss	58	187
Total other comprehensive income	(4,946)	(312)
Balance ending	(3,401)	(361)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(2,660)	(20,110)
Other comprehensive income (loss) before reclassifications	17,247	6,805
Amounts reclassified from accumulated other comprehensive loss	58	187
Total other comprehensive income	17,305	6,992
Balance ending	$ 14,645	$ (13,118)

Leases - Additional Information (Detail)	3 Months Ended
Leases - Additional Information (Detail)	Mar. 31, 2020
Maximum [Member]
Lease Agreements Remaining Term of Lease	4 years
Minimum [Member]
Lease Agreements Remaining Term of Lease	1 year

Borrowings - Components of Long-term Borrowings (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Less: unamortized discount and debt issuance costs	$ (2,650)	$ (3,247)
Total borrowings, net	305,340	304,743
Less: current portion of long-term borrowings, net	(82,328)
Long-term borrowings, net	223,012	304,743
Exchangeable Senior Notes [Member] \| 5.0% Exchangeable Senior Notes due March 2021 [Member]
Debt Instrument [Line Items]
Long-term borrowings	83,740	83,740
Senior Notes [Member] \| 6.625% Senior Notes Due 2021 [Member]
Debt Instrument [Line Items]
Long-term borrowings	$ 224,250	$ 224,250

Loss Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Loss Per Share

17. Loss Per Share

The following table illustrates the computation of basic and diluted loss per common share for the three months ended March 31, 2020 and 2019:


	Three Months Ended
	March 31, 2020			March 31, 2019
	(In thousands of US dollars, except share data)
Basic and diluted loss per share
Loss from continuing operations	$	(31,078	)	$	(21,555	)
Income (loss) from discontinued operations, net of tax		7,329			(12,570	)

Net loss	$	(23,749	)	$	(34,125	)

Weighted average number of shares – basic and diluted		34,893,157			34,194,878
Basic and diluted earnings (loss) per common share
Continuing operations	$	(0.89	)	$	(0.63	)
Discontinued operations		0.21			(0.37	)

Total	$	(0.68	)	$	(1.00	)

The following outstanding instruments were excluded from the computation of diluted loss per share, as they have an anti-dilutive effect on the calculation:


	Three Months Ended
	March 31, 2020		March 31, 2019
Options		2,163,845		2,632,300
Restricted Stock Units		729,939		508,943

For the three months ended March 31, 2020 and 2019, 10,144,155 shares and 10,182,542

shares, respectively, of potential common stock from the assumed conversion of Exchangeable Notes were excluded from the computation of diluted loss per share as the effects were anti-dilutive for the periods.

Discontinued Operations and Assets Held for Sale - Schedule Of Results From Discontinued Operations Alternative Cash Flow Information (Detail) - Foundry Services Group And Fab Three Foundry Services [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Significant non-cash operating activities:
Depreciation and amortization	$ 5,365	$ 5,752
Provision for severance benefits	3,052	1,803
Stock-based compensation	123	106
Investing activities:
Capital expenditures	$ (1,479)	$ (4,469)

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Carrying Value [Member] \| Other Current Assets [Member]
Assets:
Derivative assets		$ 1,456
Carrying Value [Member] \| Other Current Liabilities [Member]
Liabilities:
Derivative liabilities	$ 3,500
Estimate of Fair Value Measurement [Member] \| Other Current Assets [Member]
Assets:
Derivative assets		1,456
Estimate of Fair Value Measurement [Member] \| Other Current Liabilities [Member]
Liabilities:
Derivative liabilities	3,500
Significant Other Observable Inputs (Level 2) [Member] \| Other Current Assets [Member]
Assets:
Derivative assets		$ 1,456
Significant Other Observable Inputs (Level 2) [Member] \| Other Current Liabilities [Member]
Liabilities:
Derivative liabilities	$ 3,500

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

16. Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) consists of the following as of March 31, 2020 and December 31, 2019, respectively (in thousands):


	March 31, 2020			December 31, 2019
Foreign currency translation adjustments	$	18,046		$	(4,205	)
Derivative adjustments		(3,401	)		1,545

Total	$	14,645		$	(2,660	)

Changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2020 and 2019 are as follows (in thousands):


Three Months Ended March 31, 2020	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(4,205	)	$	1,545		$	(2,660	)

Other comprehensive income (loss) before reclassifications		22,251			(5,004	)		17,247
Amounts reclassified from accumulated other comprehensive loss		—			58			58

Net current-period other comprehensive income (loss)		22,251			(4,946	)		17,305

Ending balance	$	18,046		$	(3,401	)	$	14,645


Three Months Ended March 31, 2019	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(20,061	)	$	(49	)	$	(20,110	)

Other comprehensive income (loss) before reclassifications		7,304			(499	)		6,805
Amounts reclassified from accumulated other comprehensive loss		—			187			187

Net current-period other comprehensive income (loss)		7,304			(312	)		6,992

Ending balance	$	(12,757	)	$	(361	)	$	(13,118	)

There was no income tax impact related to changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2020 and 2019 due to net operating loss carry-forwards available to offset taxable income and full allowance for deferred tax assets.

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 127,691	$ 134,520
Less: accumulated depreciation	(73,987)	(75,704)
Property, plant and equipment, net	67,201	73,068
Buildings and Related Structures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	21,309	22,502
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	85,213	89,453
Finance Lease Right Of Use Assets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	306	323
Others [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	20,863	22,242
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	$ 13,497	$ 14,252

Leases - Components of lease cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease cost	$ 468	$ 525
Finance lease cost [Abstract]
Amortization of right-of-use assets	16	17
Interest on lease liabilities	5	6
Total lease cost	$ 489	$ 548

Leases - Other lease information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 468	$ 525
Operating cash flows from finance leases	5	6
Financing cash flows from finance leases	$ 14	$ 14
Weighted average remaining lease term
Operating leases	1 year		1 year 1 month 6 days
Finance leases	3 years 9 months 18 days		4 years
Weighted average discount rate
Operating leases	7.35%		7.19%
Finance leases	7.75%		7.75%

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Finished goods	$ 8,448	$ 10,087
Semi-finished goods and work-in-process	25,342	28,815
Raw materials	7,916	8,449
Materials in-transit	231
Less: inventory reserve	(4,807)	(5,947)	$ (8,690)	$ (4,845)
Inventories, net	$ 37,130	$ 41,404

Derivative Financial Instruments - Offsetting of Derivative Assets (Detail) - Zero Cost Collars [Member] $ in Thousands	Mar. 31, 2020 USD ($)
Derivative [Line Items]
Asset Derivatives, Gross amounts of recognized assets	$ 3,500
Asset Derivatives, Net amounts of assets presented in the balance sheets	3,500
Asset Derivatives, Gross amounts not offset in the balance sheets, Cash collateral pledged	(2,720)
Asset Derivatives, Net amount	$ 780

Accrued Severance Benefits - Changes in Accrued Severance Benefits (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Postemployment Benefits [Abstract]
Beginning balance	$ 53,344	$ 55,691
Provisions	2,019	1,314
Severance payments	(1,952)	(1,496)
Translation adjustments	(2,801)	(956)
Ending balance	50,610	54,553
Less: Cumulative contributions to severance insurance deposit accounts	(1,557)	(869)
The National Pension Fund	(75)	(87)
Group severance insurance plan	(213)	(243)
Accrued severance benefits, net	$ 48,765	$ 53,354	$ 51,181

Borrowings

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Long-term Borrowings

11. Borrowings

Borrowings as of March 31, 2020 and December 31, 2019 are as follows (in thousands):


	March 31, 2020			December 31, 2019
5.0% Exchangeable Senior Notes due March 2021	$	83,740		$	83,740
6.625% Senior Notes due July 2021		224,250			224,250
Less: unamortized discount and debt issuance costs		(2,650	)		(3,247	)

Total borrowings, net		305,340			304,743
Less: current portion of long-term borrowings, net		(82,328	)		—

Long-term borrowings, net	$	223,012		$	304,743

5.0% Exchangeable Senior Notes

On January 17, 2017, MagnaChip Semiconductor S.A. closed the Exchangeable Notes Offering of $86,250 thousand aggregate principal amount of 5.0% Exchangeable Notes. Interest on the Exchangeable Notes accrues at a rate of 5.0% per annum, payable semi-annually on March 1 and September 1 of each year, beginning on March 1, 2017. The Exchangeable Notes will mature on March 1, 2021, unless earlier repurchased or converted. Holders may convert their notes at their option at any time prior to the close of business on the business day immediately preceding the stated maturity date.

The Company used a portion of the net proceeds from the issuance to repurchase 1,795,444 shares of common stock under its stock repurchase program at an aggregate cost of $11,401 thousand.

Upon conversion, the Company will deliver for each $1,000 principal amount of converted notes a number of shares equally to the exchange rate, which will initially be 121.1387 shares of common stock per $1,000 principal amount of Exchangeable Notes, equivalent to an initial exchange price of approximately $8.26 per share of common stock. The exchange rate will be subject to adjustment in some circumstances, but will not be adjusted for any accrued and unpaid interest. In addition, if a “make-whole fundamental change” (as defined in the Exchangeable Notes indenture (the “Exchangeable Notes Indenture”)) occurs prior to the stated maturity date, the Company will increase the exchange rate for a holder who elects to convert its notes in connection with such make-whole fundamental change in certain circumstances. MagnaChip Semiconductor S.A. may also, under certain circumstances, be required to pay additional amounts to holders of Exchangeable Notes if withholding or deduction is required in a relevant tax jurisdiction.

If the Company undergoes a fundamental change, subject to certain conditions, holders may require the Company to repurchase for cash all or part of their notes at a purchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change purchase date. In addition, upon certain events of default described in the Exchangeable Notes Indenture, the trustee or holders of at least 25% principal amount of the Exchangeable Notes may declare 100% of the then outstanding Exchangeable Notes due and payable in full, together with all accrued and unpaid interest thereon. Payment of principal on the Exchangeable Notes may also accelerate and become automatically due and payable upon certain events of default involving bankruptcy or insolvency proceedings involving the Company, MagnaChip Semiconductor S.A. and their significant subsidiaries. The Exchangeable Notes are not redeemable at the option of MagnaChip Semiconductor S.A. prior to the maturity date.

The Exchangeable Notes Indenture contains covenants that limit the ability of the Company, MagnaChip Semiconductor S.A. and the Company’s other restricted subsidiaries to: (i) declare or pay any dividend or make any payment or distribution on account of or purchase or redeem the Company’s capital stock or equity interests of the restricted subsidiaries; (ii) make any principal payment on, or redeem or repurchase, prior to any scheduled repayment or maturity, any subordinated indebtedness; (iii) make certain investments; (iv) incur additional indebtedness and issue certain types of capital stock; (v) create or incur any lien (except for permitted liens) that secures obligations under any indebtedness; (vi) merge with or into or sell all or substantially all of the Company’s assets to other companies; (vii) enter into certain types of transactions with affiliates; (viii) guarantee the payment of any indebtedness; and (ix) designate unrestricted subsidiaries.

These covenants are subject to a number of exceptions and qualifications. Certain of these restrictive covenants will terminate if the Exchangeable Notes are rated investment grade at any time.

The Company incurred debt issuance costs of $5,902 thousand related to the issuance of the Exchangeable Notes. The debt issuance costs are recorded as a direct deduction from the long-term borrowings in the consolidated balance sheets and amortized to interest expense using the effective interest method over the term of the Exchangeable Notes. Interest expense related to the Exchangeable Notes for the three months ended March 31, 2020 and 2019 were $1,416 thousand and $1,408 thousand, respectively.

In December 2018, the Company repurchased a principal amount equal to $1,590 thousand of the Exchangeable Notes in the open market, resulting in a loss of $234 thousand, which was recorded as loss on early extinguishment of long-term borrowings, net in the consolidated statements of operations for the year ended December 31, 2018. In February 2019, the Company repurchased a principal amount equal to $920 thousand of the Exchangeable Notes in the open market, resulting in a loss of $63 thousand, which was recorded as loss on early extinguishment of long-term borrowings, net in the consolidated statements of operations for the year ended December 31, 2019.

6.625% Senior Notes

On July 18, 2013, the Company issued a $225,000,000 aggregate principal amount of the 2021 Notes at a price of 99.5%. Interest on the 2021 Notes accrues at a rate of 6.625% per annum, payable semi-annually on January 15 and July 15 of each year, beginning on January 15, 2014.

On or after July 15, 2019, the Company can optionally redeem all or a part of the 2021 Notes at a redemption price equal to 100% of the principal amount of the notes plus accrued and unpaid interest and special interest, if any, on the notes redeemed, to the applicable date of redemption.

The Indenture relating to the 2021 Notes contains covenants that limit the ability of the Company and its restricted subsidiaries to: (i) declare or pay any dividend or make any payment or distribution on account of or purchase or redeem the Company’s capital stock or equity interests of the restricted subsidiaries; (ii) make any principal payment on, or redeem or repurchase, prior to any scheduled repayment or maturity, any subordinated indebtedness; (iii) make certain investments; (iv) incur additional indebtedness and issue certain types of capital stock; (v) create or incur any lien (except for permitted liens) that secures obligations under any indebtedness; (vi) merge with or into or sell all or substantially all of the Company’s assets to other companies; (vii) enter into certain types of transactions with affiliates; (viii) guarantee the payment of any indebtedness; (ix) enter into sale-leaseback transactions; (x) enter into agreements that would restrict the ability of the restricted subsidiaries to make distributions with respect to their equity to the Company or other restricted subsidiaries, to make loans to the Company or other restricted subsidiaries or to transfer assets to the Company or other restricted subsidiaries; and (xi) designate unrestricted subsidiaries.

These covenants are subject to a number of exceptions and qualifications. Certain of these restrictive covenants will terminate if the 2021 Notes are rated investment grade at any time.

The Company incurred original issue discount of $1,125 thousand and debt issuance costs of $5,039 thousand related to the issuance of the 2021 Notes. The original issue discount and the debt issuance costs are recorded as a direct deduction from the long-term borrowings in the consolidated balance sheets and amortized to interest expense using the effective interest method over the term of the 2021 Notes. Interest expense related to the 2021 Notes for the three months ended March 31, 2020 and 2019 were $3,943 thousand and $3,930 thousand, respectively.

In December 2018, the Company repurchased a principal amount equal to $500 thousand of the 2021 Notes in the open market, resulting in a net gain of $28 thousand, which was recorded as loss on early extinguishment of long-term borrowings, net in the consolidated statements of operations for the year ended December 31, 2018. In January 2019, the Company repurchased a principal amount equal to $250 thousand of the 2021 Notes in the open market, resulting in a net gain of $21 thousand, which was recorded as loss on early extinguishment of long-term borrowings, net in the consolidated statements of operations for the year ended December 31, 2019.

Loss Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Conversion Of Exchangeable Notes	10,144,155	10,182,542

Inventories - Changes in Inventory Reserve (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Inventory Disclosure [Abstract]
Beginning balance	$ (5,947)	$ (4,845)
Change in reserve
Inventory reserve charged to costs of sales	(1,275)	(5,073)
Sale of previously reserved inventory	906	476
Change in reserve	(369)	(4,597)
Write off	499	592
Translation adjustments	316	160
Reclassified to assets held for sale	694
Ending balance	$ (4,807)	$ (8,690)

Intangible Assets

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

6. Intangible Assets

Intangible assets as of March 31, 2020 and December 31, 2019 are comprised of the following (in thousands):


	March 31, 2020
	Gross amount		Accumulated amortization			Net amount
Technology	$	6,226	$	(6,226	)	$	—
Customer relationships		9,641		(9,641	)		—
Intellectual property assets		8,314		(5,731	)		2,583

Intangible assets, net	$	24,181	$	(21,598	)	$	2,583


	December 31, 2019
	Gross amount		Accumulated amortization			Net amount
Technology	$	6,575	$	(6,575	)	$	—
Customer relationships		10,180		(10,180	)		—
Intellectual property assets		8,637		(5,868	)		2,769

Intangible assets, net	$	25,392	$	(22,623	)	$	2,769

Aggregate amortization expenses for intangible assets totaled $161 thousand and $139 thousand for the three months ended March 31, 2020 and 2019, respectively.

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Foreign currency translation adjustments	$ 18,046	$ (4,205)
Derivative adjustments	(3,401)	1,545
Total	$ 14,645	$ (2,660)

- Definition

Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses.

+ References + Details

Income Taxes

3 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

The Company and its subsidiaries file income tax returns in Korea, Japan, Taiwan, the US and in various other jurisdictions. The Company is subject to income- or

non-income

tax examinations by tax authorities of these jurisdictions for all open tax years.

A loss from continuing operations before income tax expense for the three months ended March 31, 2020 and 2019 was $29,775 thousand and $20,759 thousand, respectively. For the three months ended March 31, 2020 and 2019, the Company recorded an income tax expense on continuing of $1,303 thousand and $796 thousand, respectively, primarily attributable to interest on intercompany loan balances. Income tax expense was recorded for the Company’s Korean subsidiary based on the estimated taxable income for the respective periods, combined with its ability to utilize net operating loss carryforwards up to 60% in 2019 and 2020.

Leases

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

7. Leases

The Company has operating and finance leases for buildings and other assets such as vehicles and office equipment. The Company’s leases have remaining lease terms ranging from 1 year to

4 years.

The tables below present financial information related to the Company’s leases.

The Company adopted the new lease accounting standard as of January 1, 2019, using the modified retrospective transition method. The tables below present financial information related to the Company’s leases

Supplemental balance sheets information related to leases as of March 31, 2020 and December 31, 2019 are as follows (in thousands):


Leases	Classification	March 31, 2020		December 31, 2019
Assets
Operating lease	Operating lease right-of-use assets	$	1,413	$	1,876
Finance lease	Property, plant and equipment, net		229		258

Total lease assets		$	1,642	$	2,134

Liabilities
Current
Operating	Operating lease liabilities	$	1,301	$	1,625
Finance	Other current liabilities		58		60
Non-current
Operating	Other non-current liabilities		112		251
Finance	Other non-current liabilities		182		208

Total lease liabilities		$	1,653	$	2,144

The following table presents the weighted average remaining lease term and discount rate:


	March 31, 2020			December 31, 2019
Weighted average remaining lease term
Operating leases		1.0 years			1.1 years
Finance leases		3.8 years			4.0 years
Weighted average discount rate
Operating leases		7.35	%		7.19	%
Finance leases		7.75	%		7.75	%

The components of lease cost included in the Company’s consolidated statements of operations, are as follows (in thousands):


	Three Months Ended
	March 31, 2020		March 31, 2019
Operating lease cost	$	468	$	525
Finance lease cost
Amortization of right-of-use assets		16		17
Interest on lease liabilities		5		6

Total lease cost	$	489	$	548

The above table does not include an immaterial cost of short-term leases for the three months ended March 31, 2020 and 2019.

Other lease information is as follows (in thousands):


	Three Months Ended
	March 31, 2020		March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	468	$	525
Operating cash flows from finance leases		5		6
Financing cash flows from finance leases		14		14

The aggregate future lease payments for operating and finance leases as of March 31, 2020 are as follows (in thousands):


	Operating Leases			Finance Leases
2020	$	1,192		$	55
2021		254			74
2022		21			74
2023		1			74
Thereafter		—			—

Total future lease payments		1,468			277
Less: Imputed interest		(55	)		(37	)

Present value of future payments	$	1,413		$	240

Geographic and Other Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Customer Concentration Risk [Member] \| Net Sales [Member] \| Top Ten Customers [Member] \| Standard Products Group [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	90.00%	88.00%
Customer Concentration Risk [Member] \| Net Sales [Member] \| Top Customer One [Member] \| Standard Products Group [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	52.80%	45.00%
Customer Concentration Risk [Member] \| Net Sales [Member] \| Top Customer Two [Member] \| Standard Products Group [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	15.80%	11.60%
Geographic Concentration Risk [Member] \| Net Sales [Member] \| Asia Pacific Other Than Korea [Member] \| Standard Products Group [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	95.30%
Geographic Concentration Risk [Member] \| Net Sales [Member] \| CHINA \| Standard Products Group [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage		94.10%
Geographic Concentration Risk [Member] \| Property, Plant and Equipment [Member] \| Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	95.00%

Leases - Supplemental Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets
Operating lease	$ 1,413	$ 1,876
Total leased assets	1,642	2,134
Current
Operating	1,301	1,625
Non-current
Total lease liabilities	1,653	2,144
Operating Lease Right Of Use Assets [Member]
Assets
Operating lease	1,413	1,876
Property, Plant and Equipment, Net [Member]
Assets
Finance lease	229	258
Current Operating Lease Liabilities [Member]
Current
Operating	1,301	1,625
Other Current Liabilities [Member]
Current
Finance	58	60
Non Current Operating Lease Liabilities [Member]
Non-current
Operating	112	251
Other Noncurrent Liabilities [Member]
Non-current
Finance	$ 182	$ 208

Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Loss Per Common Share

The following table illustrates the computation of basic and diluted loss per common share for the three months ended March 31, 2020 and 2019:


	Three Months Ended
	March 31, 2020			March 31, 2019
	(In thousands of US dollars, except share data)
Basic and diluted loss per share
Loss from continuing operations	$	(31,078	)	$	(21,555	)
Income (loss) from discontinued operations, net of tax		7,329			(12,570	)

Net loss	$	(23,749	)	$	(34,125	)

Weighted average number of shares – basic and diluted		34,893,157			34,194,878

Basic and diluted earnings (loss) per common share
Continuing operations	$	(0.89	)	$	(0.63	)
Discontinued operations		0.21			(0.37	)

Total	$	(0.68	)	$	(1.00	)

Schedule of Antidilutive Securities Excluded from the Computation of Loss Per Common Share

The following outstanding instruments were excluded from the computation of diluted loss per share, as they have an anti-dilutive effect on the calculation:


	Three Months Ended
	March 31, 2020		March 31, 2019
Options		2,163,845		2,632,300
Restricted Stock Units		729,939		508,943

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

As of March 31, 2020, the following table represents the Company’s liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands):


	Carrying Value March 31, 2020		Fair Value Measurement March 31, 2020		Quoted Prices in Active Markets for Identical liability (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Derivative liabilities (other current liabilities)	$	3,500	$	3,500		—	$	3,500		—

As of December 31, 2019, the following table represents the Company’s assets measured at fair value on a recurring basis and the basis for that measurement (in thousands):


	Carrying Value December 31, 2019		Fair Value Measurement December 31, 2019		Quoted Prices in Active Markets for Identical Asset (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Derivative assets (other current assets)	$	1,456	$	1,456		—	$	1,456		—

Schedule of Fair Value of Long-term Borrowings

Fair Value of Borrowings


	March 31, 2020				December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands of US dollars)
Borrowings:
5.0% Exchangeable Senior Notes due March 2021 (Level 2)	$	82,328	$	94,479	$	81,959	$	116,078
6.625% Senior Notes due July 2021 (Level 2)	$	223,012	$	210,795	$	222,784	$	224,250

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Loss Per Share - Schedule of Computation of Basic and Diluted Loss Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Basic and diluted loss per share
Loss from continuing operations	$ (31,078)	$ (21,555)
Income (loss) from discontinued operations, net of tax	7,329	(12,570)
Net loss	$ (23,749)	$ (34,125)
Weighted average number of shares – basic and diluted	34,893,157	34,194,878
Basic and diluted earnings (loss) per common share
Continuing operations	$ (0.89)	$ (0.63)
Discontinued operations	0.21	(0.37)
Total	$ (0.68)	$ (1.00)

- Definition

Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Discontinued Operations and Assets Held for Sale - Schedule Of Results From Discontinued Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Expenses [Abstract]
Selling, general and administrative expenses	$ 12,102	$ 12,036
Research and development expenses	10,509	12,044
Total operating expenses	23,165	24,080
Foreign currency gain, net	(30,971)	(10,610)
Income (loss) from discontinued operations, net of tax	7,329	(12,570)
Discontinued Operations [Member]
Revenues:
Total revenues	76,542	50,113
Cost of sales:
Total cost of sales	55,846	46,435
Gross profit	20,696	3,678
Operating Expenses [Abstract]
Selling, general and administrative expenses	5,644	6,034
Research and development expenses	7,403	7,974
Restructuring and other charges	2,115	2,894
Total operating expenses	15,162	16,902
Operating income (loss) from discontinued operations	5,534	(13,224)
Foreign currency gain, net	2,097	613
Other income	107	86
Income (loss) from discontinued operations before income tax expense	7,738	(12,525)
Income tax expense	409	45
Income (loss) from discontinued operations, net of tax	7,329	(12,570)
Foundry Services Group [Member] \| Discontinued Operations [Member]
Revenues:
Total revenues	86,279	57,116
Cost of sales:
Total cost of sales	65,583	53,438
Fab Three Foundry Services [Member] \| Discontinued Operations [Member]
Revenues:
Total revenues	(9,737)	(7,003)
Cost of sales:
Total cost of sales	$ (9,737)	$ (7,003)

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2020	Apr. 30, 2020
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Registrant Name	MAGNACHIP SEMICONDUCTOR Corp
Entity Central Index Key	0001325702
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Address, State or Province	DE
Entity Shell Company	false
Title of 12(b) Security	Common Stock
Trading Symbol	MX
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		35,065,248

Leases (Tables)

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Supplemental Balance Sheet Information Related To Leases [Table Text Block]

Supplemental balance sheets information related to leases as of March 31, 2020 and December 31, 2019 are as follows (in thousands):


Leases	Classification	March 31, 2020		December 31, 2019
Assets
Operating lease	Operating lease right-of-use assets	$	1,413	$	1,876
Finance lease	Property, plant and equipment, net		229		258

Total lease assets		$	1,642	$	2,134

Liabilities
Current
Operating	Operating lease liabilities	$	1,301	$	1,625
Finance	Other current liabilities		58		60
Non-current
Operating	Other non-current liabilities		112		251
Finance	Other non-current liabilities		182		208

Total lease liabilities		$	1,653	$	2,144

Lease, Cost [Table Text Block]

The components of lease cost included in the Company’s consolidated statements of operations, are as follows (in thousands):


	Three Months Ended
	March 31, 2020		March 31, 2019
Operating lease cost	$	468	$	525
Finance lease cost
Amortization of right-of-use assets		16		17
Interest on lease liabilities		5		6

Total lease cost	$	489	$	548

Other Lease Information [Table Text Block]

The following table presents the weighted average remaining lease term and discount rate:


	March 31, 2020			December 31, 2019
Weighted average remaining lease term
Operating leases		1.0 years			1.1 years
Finance leases		3.8 years			4.0 years
Weighted average discount rate
Operating leases		7.35	%		7.19	%
Finance leases		7.75	%		7.75	%

Other lease information is as follows (in thousands):


	Three Months Ended
	March 31, 2020		March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	468	$	525
Operating cash flows from finance leases		5		6
Financing cash flows from finance leases		14		14

Schedule Of Future Lease Payments [Table Text Block]

The aggregate future lease payments for operating and finance leases as of March 31, 2020 are as follows (in thousands):


	Operating Leases			Finance Leases
2020	$	1,192		$	55
2021		254			74
2022		21			74
2023		1			74
Thereafter		—			—

Total future lease payments		1,468			277
Less: Imputed interest		(55	)		(37	)

Present value of future payments	$	1,413		$	240

Foreign Currency Loss, Net

3 Months Ended

Mar. 31, 2020

Foreign Currency [Abstract]

Foreign Currency Loss,

13. Foreign Currency Loss, Net

Net foreign currency gain or loss includes

non-cash

translation gain or loss associated with intercompany balances. A substantial portion of the Company’s net foreign currency gain or loss is

non-cash

translation gain or loss associated with intercompany long-term loans to the Company’s Korean subsidiary. The loans are denominated in US dollars and are affected by changes in the exchange rate between the Korean won and the US dollar. As of March 31, 2020 and December 31, 2019, the outstanding intercompany loan balances including accrued interest between the Korean subsidiary and the Dutch subsidiary were $684,021 thousand and $686,485 thousand, respectively. The Korean won to US dollar exchange rates were 1,222.6:1, 1,157.8:1 using the first base rate as of March 31, 2020 and December 31, 2019, respectively, as quoted by the KEB Hana Bank.

Geographic and Other Information - Schedule of Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Total revenues	$ 120,473	$ 107,267
Total gross profit	29,130	19,023
Standard Products Group [Member]
Segment Reporting Information [Line Items]
Total revenues	110,736	100,264
Total gross profit	29,130	19,023
Fab Three Foundry Services [Member]
Segment Reporting Information [Line Items]
Total revenues	9,737	7,003
Total gross profit
Operating Segments [Member] \| Standard Products Group [Member]
Segment Reporting Information [Line Items]
Total revenues	110,736	100,264
Operating Segments [Member] \| Standard Products Group [Member] \| Display Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	77,593	58,230
Operating Segments [Member] \| Standard Products Group [Member] \| Power Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 33,143	$ 42,034

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	44,160,355	43,851,991
Common stock, shares outstanding	35,054,682	34,800,312
Treasury stock, shares	9,105,673	9,051,679

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities
Net loss	$ (23,749)	$ (34,125)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Depreciation and amortization	7,935	8,303
Provision for severance benefits	5,071	3,117
Amortization of debt issuance costs and original issue discount	598	571
Loss on foreign currency, net	38,480	11,720
Restructuring and other charges	2,138	2,822
Provision for inventory reserves	570	4,645
Stock-based compensation	885	669
Loss on early extinguishment of long-term borrowings, net		42
Other	107	96
Changes in operating assets and liabilities
Accounts receivable, net	(10,430)	(12,844)
Unbilled accounts receivable, net	6,937	9,726
Inventories	(4,863)	(15,230)
Other receivables	1,982	(4,205)
Other current assets	909	1,836
Accounts payable	1,988	20,874
Other accounts payable	(1,817)	2,797
Accrued expenses	(6,611)	(5,365)
Other current liabilities	1,062	(6,293)
Other non-current liabilities	1,808	1,085
Payment of severance benefits	(2,080)	(2,263)
Other	148	347
Net cash provided by (used in) operating activities	21,068	(11,675)
Cash flows from investing activities
Proceeds from settlement of hedge collateral	4,239	2,242
Payment of hedge collateral	(7,841)
Purchase of property, plant and equipment	(3,351)	(11,207)
Payment for intellectual property registration	(229)	(232)
Collection of guarantee deposits	47	298
Payment of guarantee deposits		(892)
Other	8	(10)
Net cash used in investing activities	(7,127)	(9,801)
Cash flows from financing activities
Repurchase of long-term borrowings		(1,175)
Proceeds from exercise of stock options		48
Acquisition of treasury stock	(1,021)	(2,353)
Repayment of financing related to water treatment facility arrangement	(135)	(143)
Repayment of principal portion of finance lease liabilities	(60)	(59)
Net cash used in financing activities	(1,216)	(3,682)
Effect of exchange rates on cash and cash equivalents	(7,089)	(1,468)
Net increase (decrease) in cash and cash equivalents	5,636	(26,626)
Cash and cash equivalents
Beginning of the period	151,657	132,438
End of the period	157,293	105,812
Supplemental cash flow information
Cash paid for interest	9,522	9,549
Cash paid for income taxes	1,534	1,556
Non-cash investing and financing activities
Property, plant and equipment additions in other accounts payable	$ 687	2,643
Acquisition Of Treasury Stock Related To Tax With holding For Share Based Compensation		$ (232)

Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive income (loss) consists of the following as of March 31, 2020 and December 31, 2019, respectively (in thousands):


	March 31, 2020			December 31, 2019
Foreign currency translation adjustments	$	18,046		$	(4,205	)
Derivative adjustments		(3,401	)		1,545

Total	$	14,645		$	(2,660	)

Changes in Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2020 and 2019 are as follows (in thousands):


Three Months Ended March 31, 2020	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(4,205	)	$	1,545		$	(2,660	)

Other comprehensive income (loss) before reclassifications		22,251			(5,004	)		17,247
Amounts reclassified from accumulated other comprehensive loss		—			58			58

Net current-period other comprehensive income (loss)		22,251			(4,946	)		17,305

Ending balance	$	18,046		$	(3,401	)	$	14,645


Three Months Ended March 31, 2019	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(20,061	)	$	(49	)	$	(20,110	)

Other comprehensive income (loss) before reclassifications		7,304			(499	)		6,805
Amounts reclassified from accumulated other comprehensive loss		—			187			187

Net current-period other comprehensive income (loss)		7,304			(312	)		6,992

Ending balance	$	(12,757	)	$	(361	)	$	(13,118	)

Commitments and Contingencies

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

18. Commitments and Contingencies

Long-term Purchase Agreements and Advances to Suppliers

The Company purchases raw materials from a variety of vendors. During the normal course of business, in order to manage manufacturing lead times and help assure adequacy supply, the Company from time to time may enter into multi-year purchase agreements, which specify future quantities and pricing of materials to be supplied by the vendors. The Company reviews the terms of the long-term supply agreements and assesses the need for any accrual for estimated losses, such as lower of cost or net realizable value that will not be recovered by future sales prices.

such accrual was required as of March 31, 2020 and December 31, 2019, respectively.

The Company, from time to time, may make advances in form of prepayments or deposits to suppliers to procure materials to meet its planned production. The Company recorded advances of $5,118 thousand and $6,593 thousand as other current assets as of March 31, 2020 and December 31, 2019, respectively.

COVID-19

Pandemic

In December 2019, a strain of coronavirus causing a disease known as

COVID-19

surfaced in Wuhan, China, resulting in significant disruptions among Chinese manufacturing and other facilities and travel throughout China. In March 2020, the World Health Organization declared the

COVID-19

outbreak a pandemic, which continues to spread rapidly in the U.S. and other countries throughout the world. Governmental authorities throughout the world have implemented numerous containment measures, including travel bans and restrictions, quarantines,

shelter-in-place

orders, and business restrictions and shutdowns, resulting in rapidly changing market and economic conditions.

While the Company experienced some minor disruption in its Power business from assembly and test subcontractors located in China in the first quarter of 2020 as a result of

COVID-19,

to date its external Display business contractors and

sub-contractors

have not been materially impacted by the outbreak. Nevertheless, while the future impact on the Company’s business from the

COVID-19

pandemic is currently difficult to assess, the significant global macro-economic disruption will adversely affect customer demand for some of its products in the near term. The Company is, however, unable to accurately predict the full impact

COVID-19

will have on its future results of operations due to numerous uncertainties, including the severity of the disease, the duration of the outbreak, a potential future recurrence of the outbreak, further containment actions that may be taken by governmental authorities, the impact to the businesses of its customers and suppliers, and other factors.

The Company continues to closely monitor and evaluate the nature and scope of the impact on

COVID-19

to its business, consolidated results of operations, and financial condition, and may take further actions altering its business operations and managing its costs and liquidity that the Company deems necessary or appropriate to respond to this fast moving and uncertain global health crisis and the resulting global economic consequences.

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Details of Derivative Contracts

Details of derivative contracts as of March 31, 2020 are as follows (in thousands):


Date of transaction	Type of derivative		Total notional amount		Month of settlement
August 13, 2019		Zero cost collar	$	30,000	April 2020 to June 2020
September 27, 2019		Zero cost collar	$	21,000	April 2020 to June 2020
December 4, 2019		Zero cost collar	$	30,000	July 2020 to December 2020
January 31, 2020		Zero cost collar	$	30,000	July 2020 to December 2020
February 3, 2020		Zero cost collar	$	18,000	July 2020 to December 2020
February 21, 2020		Zero cost collar	$	30,000	July 2020 to December 2020

Details of derivative contracts as of December 31, 2019 are as follows (in thousands):


Date of transaction	Type of derivative		Total notional amount		Month of settlement
August 13, 2019		Zero cost collar	$	60,000	January 2020 to June 2020
September 27, 2019		Zero cost collar	$	42,000	January 2020 to June 2020
December 4, 2019		Zero cost collar	$	30,000	July 2020 to December 2020

Fair Values of Outstanding Zero Cost Collar and Forward Contracts Recorded as Assets and Liabilities

The fair values of the Company’s outstanding zero cost collar contracts recorded as assets and liabilities as of March 31, 2020 and December 31, 2019 are as follows (in thousands):


Derivatives designated as hedging instruments:		March 31, 2020		December 31, 2019
Asset Derivatives:
Zero cost collars	Other current assets	$	—	$	1,456
Liability Derivatives:
Zero cost collars	Other current liabilities	$	3,500	$	—

Offsetting of Derivative Liabilities

Offsetting of derivative liabilities as of March 31, 2020 is as follows (in thousands):


As of March 31, 2020	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets		Net amounts of liabilities presented in the balance sheets		Gross amounts not offset in the balance sheets					Net amount
As of March 31, 2020	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets		Net amounts of liabilities presented in the balance sheets		Financial instruments		Cash collateral pledged			Net amount
Liability Derivatives:
Zero cost collars	$	3,500	$	—	$	3,500	$	—	$	(2,720	)	$	780

Offsetting of Derivative Assets

Offsetting of derivative assets as of December 31, 2019 is as follows (in thousands):


As of December 31, 2019	Gross amounts of recognized assets		Gross amounts offset in the balance sheets		Net amounts of assets presented in the balance sheets		Gross amounts not offset in the balance sheets				Net amount
As of December 31, 2019	Gross amounts of recognized assets		Gross amounts offset in the balance sheets		Net amounts of assets presented in the balance sheets		Financial instruments		Cash collateral pledged		Net amount
Asset Derivatives:
Zero cost collars	$	1,456	$	—	$	1,456	$	—	$	1,070	$	2,526

Impact of Derivative Instruments on Consolidated Statement of Operations

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the three months ended March 31, 2020 and 2019 (in thousands):


Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)						Location/Amount of Loss Reclassified from AOCI Into Statement of Operations (Effective Portion)								Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives (Ineffective Portion)
	Three Months Ended March 31,								Three Months Ended March 31,								Three Months Ended March 31,
	2020			2019					2020			2019					2020		2019
Zero cost collars	$	(5,004	)	$	34			Net sales	$	(58	)	$	—			Other income, net	$	117	$	—
Forwards	$	—		$	(533	)		Net sales	$	—		$	(89	)		Other income, net	$	—	$	(56	)
Forwards—excluded time value								Net sales	$	—		$	(98	)

	$	(5,004	)	$	(499	)			$	(58	)	$	(187	)			$	117	$	(56	)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959

+ Details

Fair Value Measurements

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

10. Fair Value Measurements

Fair Value of Financial Instruments

As of March 31, 2020, the following table represents the Company’s liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands):


	Carrying Value March 31, 2020		Fair Value Measurement March 31, 2020		Quoted Prices in Active Markets for Identical liability (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Derivative liabilities (other current liabilities)	$	3,500	$	3,500		—	$	3,500		—

As of December 31, 2019, the following table represents the Company’s assets measured at fair value on a recurring basis and the basis for that measurement (in thousands):


	Carrying Value December 31, 2019		Fair Value Measurement December 31, 2019		Quoted Prices in Active Markets for Identical Asset (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Derivative assets (other current assets)	$	1,456	$	1,456		—	$	1,456		—

Items not reflected in the table above include cash equivalents, accounts receivable, other receivables, accounts payable, and other accounts payable, fair value of which approximate carrying values due to the short-term nature of these instruments. The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 2 inputs.

Fair Value of Borrowings


	March 31, 2020				December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands of US dollars)
Borrowings:
5.0% Exchangeable Senior Notes due March 2021 (Level 2)	$	82,328	$	94,479	$	81,959	$	116,078
6.625% Senior Notes due July 2021 (Level 2)	$	223,012	$	210,795	$	222,784	$	224,250

On January 17, 2017, the Company’s wholly-owned subsidiary, MagnaChip Semiconductor S.A., closed an offering (the “Exchangeable Notes Offering”) of 5.0% Exchangeable Senior Notes due March 1, 2021 (the “Exchangeable Notes”), of $86,250 thousand, which represents the principal amount, excluding $5,902 thousand of debt issuance costs. In December 2018 and February 2019, MagnaChip Semiconductor S.A. repurchased a principal amount equal to $1,590 thousand and $920 thousand, respectively, of the Exchangeable Notes in the open market. The Company estimates the fair value of the Exchangeable Notes using the market approach, which utilizes quoted market prices that fall under Level 2. For further description of the Exchangeable Notes, see Note 11,

“Borrowings.”

On July 18, 2013, the Company issued 6.625% Senior Notes due July 15, 2021 (the “2021 Notes”) of $225,000 thousand, which represents the principal amount, excluding $1,125 thousand of original issue discount and $5,039 thousand of debt issuance costs. In December 2018 and January 2019, the Company repurchased a principal amount equal to $500 thousand and $250 thousand, respectively, of the 2021 Notes in the open market. The Company estimates the fair value of the 2021 Notes using the market approach, which utilizes quoted market prices that fall under Level 2. For further description of the 2021 Notes, see Note 11, “Borrowings.”

Fair Values Measured on a

Non-recurring

Basis

The Company’s

non-financial

assets, such as property, plant and equipment, and intangible assets are recorded at fair value upon acquisition and are remeasured at fair value only if an impairment charge is recognized. As of March 31, 2020 and 2019, the Company did not have any assets or liabilities measured at fair value on a

non-recurring

basis.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Business

non-volatile

memory and Radio Frequency (“RF”) applications.

8-inch

f $344.7

Basis of Presentation

10-K

for the fiscal year ended December 31, 2019.

Discontinued Operations and Assets Held for Sale

Recent Accounting Pronouncements Not Yet Adopted

In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update

No. 2019-12,

“Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU

2019-12”).

ASU

2019-12

is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company does not expect the adoption of ASU

2019-12

to have a material effect on the Company’s consolidated financial statements.

Recently Adopted Accounting Pronouncements

In June 2016, the FASB issued Accounting Standards Update

No. 2016-13,

“Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU

2016-13”).

ASU

2016-13

No. 2019-04,

“Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments” (“ASU

2019-04”),

and in November 2019, the FASB issued Accounting Standards Update

No. 2019-11,

“Codification Improvements to Topic 326, Financial Instruments—Credit Losses” (“ASU

2019-11”)

to clarify and address certain items related to the amendments in ASU

2016-13.

In February 2020, the FASB issued Accounting Standards Update

No. 2020-02,

“Financial Instruments—Credit Losses (Topic 326)” (“ASU

2020-02”),

which incorporates SEC SAB 119 (updated from SAB 102) into the ASC by aligning SEC recommended policies and procedures with ASC 326.The Company adopted ASU 2016-13, ASU

2019-04,

ASU

2019-11

and ASU

2020-02

as of January 1, 2020, and the adoption did not have a material impact on the Company’s consolidated financial statements.

In August 2018, the FASB issued Accounting Standards Update

No. 2018-13

“Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement” (“ASU

2018-13”).

ASU

2018-13

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

9. Derivative Financial Instruments

The Company’s Korean subsidiary from time to time has entered into zero cost collar and forward contracts to hedge the risk of changes in the functional-currency-equivalent cash flows attributable to currency rate changes on US dollar denominated revenues.

Details of derivative contracts as of March 31, 2020 are as follows (in thousands):


Date of transaction	Type of derivative		Total notional amount		Month of settlement
August 13, 2019		Zero cost collar	$	30,000	April 2020 to June 2020
September 27, 2019		Zero cost collar	$	21,000	April 2020 to June 2020
December 4, 2019		Zero cost collar	$	30,000	July 2020 to December 2020
January 31, 2020		Zero cost collar	$	30,000	July 2020 to December 2020
February 3, 2020		Zero cost collar	$	18,000	July 2020 to December 2020
February 21, 2020		Zero cost collar	$	30,000	July 2020 to December 2020

Details of derivative contracts as of December 31, 2019 are as follows (in thousands):


Date of transaction	Type of derivative		Total notional amount		Month of settlement
August 13, 2019		Zero cost collar	$	60,000	January 2020 to June 2020
September 27, 2019		Zero cost collar	$	42,000	January 2020 to June 2020
December 4, 2019		Zero cost collar	$	30,000	July 2020 to December 2020

The zero cost collar contracts qualify as cash flow hedges under ASC 815, “Derivatives and Hedging,” since at both the inception of the contracts and on an ongoing basis, the hedging relationship was and is expected to be highly effective in achieving offsetting cash flows attributable to the hedged risk during the term of the contracts.

The fair values of the Company’s outstanding zero cost collar contracts recorded as assets and liabilities as of March 31, 2020 and December 31, 2019 are as follows (in thousands):


Derivatives designated as hedging instruments:		March 31, 2020		December 31, 2019
Asset Derivatives:
Zero cost collars	Other current assets	$	—	$	1,456
Liability Derivatives:
Zero cost collars	Other current liabilities	$	3,500	$	—

Offsetting of derivative liabilities as of March 31, 2020 is as follows (in thousands):


As of March 31, 2020	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets		Net amounts of liabilities presented in the balance sheets		Gross amounts not offset in the balance sheets					Net amount
As of March 31, 2020	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets		Net amounts of liabilities presented in the balance sheets		Financial instruments		Cash collateral pledged			Net amount
Liability Derivatives:
Zero cost collars	$	3,500	$	—	$	3,500	$	—	$	(2,720	)	$	780

Offsetting of derivative assets as of December 31, 2019 is as follows (in thousands):


As of December 31, 2019	Gross amounts of recognized assets		Gross amounts offset in the balance sheets		Net amounts of assets presented in the balance sheets		Gross amounts not offset in the balance sheets				Net amount
As of December 31, 2019	Gross amounts of recognized assets		Gross amounts offset in the balance sheets		Net amounts of assets presented in the balance sheets		Financial instruments		Cash collateral pledged		Net amount
Asset Derivatives:
Zero cost collars	$	1,456	$	—	$	1,456	$	—	$	1,070	$	2,526

For derivative instruments that are designated and qualify as cash flow hedges, gains or losses on the derivative aside from components excluded from the assessment of effectiveness are reported as a component of accumulated other comprehensive income (“AOCI”) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative, representing hedge components excluded from the assessment of effectiveness, are recognized in current earnings.

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the three months ended March 31, 2020 and 2019 (in thousands):


Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)						Location/Amount of Loss Reclassified from AOCI Into Statement of Operations (Effective Portion)								Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives (Ineffective Portion)
	Three Months Ended March 31,								Three Months Ended March 31,								Three Months Ended March 31,
	2020			2019					2020			2019					2020		2019
Zero cost collars	$	(5,004	)	$	34			Net sales	$	(58	)	$	—			Other income, net	$	117	$	—
Forwards	$	—		$	(533	)		Net sales	$	—		$	(89	)		Other income, net	$	—	$	(56	)
Forwards—excluded time value								Net sales	$	—		$	(98	)

	$	(5,004	)	$	(499	)			$	(58	)	$	(187	)			$	117	$	(56	)

As of March 31, 2020, the amount expected to be reclassified from accumulated other comprehensive income into loss within the next twelve months is $3,401 thousand.

The Company set aside $10,550 thousand and $8,750 thousand of cash deposits to the counterparties, Nomura Financial Investment (Korea) Co., Ltd. (“NFIK”) and Deutsche Bank AG, Seoul Branch (“DB”), as required for the zero cost collar contracts outstanding as of March 31, 2020 and December 31, 2019, respectively. These cash deposits are recorded as hedge collateral on the consolidated balance sheets.

The Company is required to deposit additional cash collateral with NFIK and DB for any exposure in excess of $500 thousand, and $2,720 thousand and $1,070 thousand of additional cash collateral were required and recorded as hedge collateral on the consolidated balance sheets as of March 31, 2020 and December 31, 2019, respectively.

These cost collar contracts may be terminated by the counterparty in a number of circumstances, including if the Company’s borrowing rating falls below

B-/B3

or if the Company’s total cash and cash equivalents is less than $30,000 thousand at the end of a fiscal quarter, unless a waiver is obtained from the counterparty.

Geographic and Other Information

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Geographic and Segment Information

15. Geographic and

Other

Information

Historically, the Company operated in two reportable segments: Foundry Services Group and Standard Products Group. The Company’s Foundry Services Group provides specialty analog and mixed-signal foundry services mainly for fabless and Integrated Device Manufacturer (“IDM”) semiconductor companies that primarily serve communications, IoT, consumer, industrial and automotive applications. The Company’s Standard Products Group is comprised of two business lines: Display Solutions and Power Solutions. The Company’s Display Solutions products provide panel display solutions to major suppliers of large and small rigid and flexible panel displays, and mobile, automotive applications and home appliances. The Company’s Power Solutions products include discrete and integrated circuit solutions for power management in communications, consumer and industrial applications.

On March 30, 2020, the Company entered into the BTA to sell its Foundry business and Fab 4. The planned divestiture of its Foundry business and Fab 4 allows the Company to strategically shift its operational focus to its standard products business. As a result, the results of the Foundry Services Group were classified as discontinued operations in the Company’s consolidated statements of operations and thus excluded from both continuing operations and segment results for all periods presented. Please see “Item 1. Financial Statements and Supplementary Data—Notes to Consolidated Financial Statements—Note 2. Discontinued Operations and Assets Held for Sale” for additional information on the results of discontinued operations. Accordingly, the Company now has one reportable segment. The Company’s chief operating decision maker is its Chief Executive Officer, who allocates resources and assesses performance of the business and other activities based on gross profit.

The following sets forth information relating to the single continuing operating segment (in thousands):


	Three Months Ended
	March 31, 2020		March 31, 2019
Revenues
Standard products business
Display Solutions	$	77,593	$	58,230
Power Solutions		33,143		42,034

Total standard products business	$	110,736	$	100,264
Transitional Fab 3 foundry services		9,737		7,003

Total revenues	$	120,473	$	107,267


	Three Months Ended
	March 31, 2020		March 31, 2019
Gross Profit
Standard products business	$	29,130	$	19,023
Transitional Fab 3 foundry services		—		—

Total gross profit	$	29,130	$	19,023

The following is a summary of net sales – standard products business (which does not include the Transitional Fab 3 Foundry Services) by geographic region, based on the location to which the products are billed (in thousands):


	Three Months Ended
	March 31, 2020		March 31, 2019
Korea	$	30,817	$	34,646
Asia Pacific (other than Korea)		77,542		63,747
United States		709		462
Europe		971		1,133
Others		697		276

Total	$	110,736	$	100,264

For the three months ended March 31, 2020 and 2019, of the Company’s net sales – standard products business in Asia Pacific (other than Korea) and net sales – standard products business in Greater China (China, Hong Kong and Macau) represented

95.3% and 94.1

% of total net sales – standard products business, respectively.

Net sales from the Company’s top ten largest customers in the standard products business

(which does not include the Transitional Fab 3 Foundry Services)

accounted for

90% and 88

% for the three months ended March 31, 2020 and 2019, respectively.

For the three months ended March 31, 2020, the Company had two customers that represented 52.8% and 15.8%

of its net sales – standard products business. For the three months ended March 31, 2019, the Company had two customers that represented

45.0% and 11.6%

of its net sales – standard products business.

95%

of the Company’s property, plant and equipment from continuing operations are located in Korea as of March 31, 2020.

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net sales	$ 120,473	$ 107,267
Cost of sales	91,343	88,244
Gross profit	29,130	19,023
Operating expenses
Selling, general and administrative expenses	12,102	12,036
Research and development expenses	10,509	12,044
Other charges	554
Total operating expenses	23,165	24,080
Operating income (loss)	5,965	(5,057)
Interest expense	(5,607)	(5,637)
Foreign currency loss, net	(30,971)	(10,610)
Loss on early extinguishment of long-term borrowings, net		(42)
Other income, net	838	587
Loss from continuing operations before income tax expense	(29,775)	(20,759)
Income tax expense	1,303	796
Loss from continuing operations	(31,078)	(21,555)
Income (loss) from discontinued operations, net of tax	7,329	(12,570)
Net loss	$ (23,749)	$ (34,125)
Basic and diluted earnings (loss) per common share –
Continuing operations	$ (0.89)	$ (0.63)
Discontinued operations	0.21	(0.37)
Total	$ (0.68)	$ (1.00)
Weighted average number of shares – basic and diluted	34,893,157	34,194,878
Standard Products Group [Member]
Net sales	$ 110,736	$ 100,264
Cost of sales	81,606	81,241
Gross profit	29,130	19,023
Fab Three Foundry Services [Member]
Net sales	9,737	7,003
Cost of sales	9,737	$ 7,003
Gross profit

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Payroll, benefits and related taxes, excluding severance benefits	$ 8,992	$ 8,493
Withholding tax attributable to intercompany interest income	23,771	23,371
Interest on senior notes	3,444	8,205
Outside service fees	1,224	1,996
Others	4,058	2,734
Accrued expenses	$ 41,489	$ 44,799

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Contingency [Line Items]
Income tax expenses (benefits)	$ 1,303	$ 796
Income tax expenses	$ (29,775)	$ (20,759)
Korean Subsidiary [Member]
Income Tax Contingency [Line Items]
The net operating income carry forwards of the taxable income	60.00%	60.00%

Borrowings - Components of Long-term Borrowings (Parenthetical) (Detail)			3 Months Ended	12 Months Ended
	Jan. 17, 2017	Jul. 18, 2013	Mar. 31, 2020	Dec. 31, 2019
5.0% Exchangeable Senior Notes due March 2021 [Member] \| Exchangeable Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate	5.00%		5.00%	5.00%
Due date	Mar. 01, 2021		Mar. 01, 2021	Mar. 01, 2021
6.625% Senior Notes Due July 2021 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate		6.625%	6.625%	6.625%
Due date		Jul. 15, 2021	Jul. 01, 2021	Jul. 01, 2021

Accrued Severance Benefits

3 Months Ended

Mar. 31, 2020

Postemployment Benefits [Abstract]

Accrued Severance Benefits

12. Accrued Severance Benefits

The majority of accrued severance benefits are for employees in the Company’s Korean subsidiary. Pursuant to the Employee Retirement Benefit Security Act of Korea, eligible employees and executive officers with one or more years of service are entitled to severance benefits upon the termination of their employment based on their length of service and rate of pay. As of March 31, 2020, 98% of all employees of the Company were eligible for severance benefits.

Changes in accrued severance benefits are as follows (in thousands):


	Three Months Ended
	March 31, 2020			March 31, 2019
Beginning balance	$	53,344		$	55,691
Provisions		2,019			1,314
Severance payments		(1,952	)		(1,496	)
Translation adjustments		(2,801	)		(956	)

		50,610			54,553
Less: Cumulative contributions to severance insurance deposit accounts		(1,557	)		(869	)
The National Pension Fund		(75	)		(87	)
Group severance insurance plan		(213	)		(243	)

Accrued severance benefits, net	$	48,765		$	53,354

The severance benefits funded through the Company’s National Pension Fund and group severance insurance plan will be used exclusively for payment of severance benefits to eligible employees. These amounts have been deducted from the accrued severance benefit balance.

July 2018,

the Company began contributing to certain severance insurance deposit accounts a certain percentage of severance benefits that are accrued for eligible employees for their services

from January 1, 2018. These accounts consist of time deposits and other guaranteed principal and interest, and are maintained at insurance companies, banks or security companies for the benefit of employees. The Company deducts the contributions made to these severance insurance deposit accounts from its accrued severance benefits.

The Company is liable to pay the following future benefits to its

non-executive

employees upon their normal retirement age (in thousands):


	Severance benefit
Remainder of 2020	$	369
2021		626
2022		823
2023		580
2024		788
2025		2,201
2026 – 2030		19,439

The above amounts were determined based on the

non-executive

employees’ current salary rates and the number of service years that will be accumulated upon their retirement dates. These amounts do not include amounts that might be paid to

non-executive

employees that will cease working with the Company before their normal retirement ages.

Korea’s mandatory retirement age is 60 under the Employment Promotion for the Aged Act.

Derivative Financial Instruments - Details of Derivative Contracts (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Zero Cost Collar One [Member]
Derivative [Line Items]
Date of transaction	Aug. 13, 2019	Aug. 13, 2019
Type of derivative	Zero cost collar	Zero cost collar
Total notional amount	$ 30,000	$ 60,000
Month of settlement, start	2020-04	2020-01
Month of settlement, end	2020-06	2020-06
Zero Cost Collar Two [Member]
Derivative [Line Items]
Date of transaction	Sep. 27, 2019	Sep. 27, 2019
Type of derivative	Zero cost collar	Zero cost collar
Total notional amount	$ 21,000	$ 42,000
Month of settlement, start	2020-04	2020-01
Month of settlement, end	2020-06	2020-06
Zero Cost Collar Three [Member]
Derivative [Line Items]
Date of transaction	Dec. 04, 2019	Dec. 04, 2019
Type of derivative	Zero cost collar	Zero cost collar
Total notional amount	$ 30,000	$ 30,000
Month of settlement, start	2020-07	2020-07
Month of settlement, end	2020-12	2020-12
Zero Cost Collar Four [Member]
Derivative [Line Items]
Date of transaction	Jan. 31, 2020
Type of derivative	Zero cost collar
Total notional amount	$ 30,000
Month of settlement, start	2020-07
Month of settlement, end	2020-12
Zero Cost Collar Five [Member]
Derivative [Line Items]
Date of transaction	Feb. 03, 2020
Type of derivative	Zero cost collar
Total notional amount	$ 18,000
Month of settlement, start	2020-07
Month of settlement, end	2020-12
Zero Cost Collar Six [Member]
Derivative [Line Items]
Date of transaction	Feb. 21, 2020
Total notional amount	$ 30,000
Month of settlement, start	2020-07
Month of settlement, end	2020-12

Inventories (Tables)

3 Months Ended

Mar. 31, 2020

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories as of March 31, 2020 and December 31, 2019 consist of the following (in thousands):


	March 31, 2020			December 31, 2019
Finished goods	$	8,448		$	10,087
Semi-finished goods and work-in-process		25,342			28,815
Raw materials		7,916			8,449
Materials in-transit		231			—
Less: inventory reserve		(4,807	)		(5,947	)

Inventories, net	$	37,130		$	41,404

Changes in Inventory Reserve

Changes in inventory reserve for the three months ended March 31, 2020 and 2019 are as follows (in thousands):


	Three Months Ended
	March 31, 2020			March 31, 2019
Beginning balance	$	(5,947	)	$	(4,845	)
Change in reserve
Inventory reserve charged to costs of sales		(1,275	)		(5,073	)
Sale of previously reserved inventory		906			476

		(369	)		(4,597	)
Write off		499			592
Translation adjustments		316			160
Reclassified to assets held for sale		694			—

Ending balance	$	(4,807	)	$	(8,690	)

Discontinued Operations and Assets Held for Sale

3 Months Ended

Mar. 31, 2020

Discontinued Operations and Assets Held for Sale [Abstract]

Discontinued Operations and Assets Held for Sale

2. Discontinued Operations and Assets Held for Sale

On March 30, 2020, the Company entered into the BTA for the sale of its Foundry Services Group business and Fab 4. Following the consummation of the sale, and for up to three years, the Company is expected to provide the Transitional Fab 3 Foundry Services. For the periods prior to the closing of the sale, revenue from providing the Transitional Fab 3 Foundry Services to the Foundry Services Group is recorded at cost on both of the continuing and discontinued businesses. The sale is expected to close within approximately four to six months from the date of the BTA, subject to customary closing conditions.

The following table summarizes the results from discontinued operations, net of tax, for the three months ended March 31, 2020 and 2019.


	Three Months Ended
	March 31, 2020			March 31, 2019
	(In thousands of US dollars)
Revenues:
Net sales – Foundry Services Group	$	86,279		$	57,116
Net sales – transitional Fab 3 foundry services		(9,737	)		(7,003	)
Total revenues		76,542			50,113
Cost of sales:
Cost of sales – Foundry Services Group		65,583			53,438
Cost of sales – transitional Fab 3 foundry services		(9,737	)		(7,003	)
Total cost of sales		55,846			46,435
Gross profit		20,696			3,678
Operating expenses:
Selling, general and administrative expenses		5,644			6,034
Research and development expenses		7,403			7,974
Restructuring and other charges		2,115			2,894
Total operating expenses		15,162			16,902
Operating income (loss) from discontinued operations		5,534			(13,224	)
Foreign currency gain, net		2,097			613
Other income		107			86
Income (loss) from discontinued operations before income tax expense		7,738			(12,525	)
Income tax expense		409			45
Income (loss) from discontinued operations, net of tax	$	7,329		$	(12,570	)

For the three months ended March 31, 2020 and 2019, the Company recorded

$2,115 thousand and $743

thousand, respectively, in professional fees incurred in connection with the

Foundry Services Group business and Fab 4, and recorded such costs as restructuring and other charges in the above. For the three months ended March 31, 2019, the Company also recorded in the same line a

$2,151

thousand restructuring-related charge to its fab employees.

The following table provides a reconciliation of the aggregate carrying amounts of major classes of assets and liabilities relating to the Foundry Services Group business and Fab 4, which are included in assets and liabilities held for sale in the accompanying consolidated balance sheets for each of the periods presented:


	March 31, 2020		December 31, 2019
	(In thousands of US dollars)
Assets
Current assets
Accounts receivable, net	$	40,735	$	48,194
Unbilled accounts receivable, net		9,374		16,463
Inventories, net		34,968		31,863
Other current assets		2,891		3,301
Other assets of the disposal group classified as held for sale		1,461		—

Total current assets held for sale	$	89,429	$	99,821

Property, plant and equipment, net		99,604		109,506
Intangible assets, net		1,202		1,245
Other non-current assets		11,384		12,683

Total assets held for sale	$	201,619	$	223,255

Liabilities
Current liabilities
Accounts payable	$	20,462	$	20,503
Other current liabilities		14,773		16,537

Total current liabilities held for sale	$	35,235	$	37,040

Accrued severance benefits, net		93,121		95,547
Other non-current liabilities		13,657		15,334

Total liabilities held for sale	$	142,013	$	147,921

As of March 31, 2020,

all

assets and liabilities held for sale are classified as current on the consolidated balance sheets based on the anticipated date of disposal of the Foundry Services Group business and Fab 4.

The following table provides supplemental cash flows information related to discontinued operations:


	Three Months Ended
	March 31, 2020			March 31, 2019
	(In thousands of US dollars)
Significant non - cash operating activities:
Depreciation and amortization	$	5,365		$	5,752
Provision for severance benefits		3,052			1,803
Stock-based compensation		123			106
Investing activities:
Capital expenditures	$	(1,479	)	$	(4,469	)

Inventories

3 Months Ended

Mar. 31, 2020

Inventory Disclosure [Abstract]

Inventories

4. Inventories

Inventories as of March 31, 2020 and December 31, 2019 consist of the following (in thousands):


	March 31, 2020			December 31, 2019
Finished goods	$	8,448		$	10,087
Semi-finished goods and work-in-process		25,342			28,815
Raw materials		7,916			8,449
Materials in-transit		231			—
Less: inventory reserve		(4,807	)		(5,947	)

Inventories, net	$	37,130		$	41,404

Changes in inventory reserve for the three months ended March 31, 2020 and 2019 are as follows (in thousands):


	Three Months Ended
	March 31, 2020			March 31, 2019
Beginning balance	$	(5,947	)	$	(4,845	)
Change in reserve
Inventory reserve charged to costs of sales		(1,275	)		(5,073	)
Sale of previously reserved inventory		906			476

		(369	)		(4,597	)
Write off		499			592
Translation adjustments		316			160
Reclassified to assets held for sale		694			—

Ending balance	$	(4,807	)	$	(8,690	)

Inventory reserve represents the Company’s best estimate in value lost due to excessive inventory level, physical deterioration, obsolescence, changes in price levels, or other causes based on individual facts and circumstances. Inventory reserve relates to inventory items including finished goods, semi-finished goods,

work-in-process

and raw materials. Write off of this reserve is recognized only when the related inventory has been disposed or scrapped.

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Estimated amount reclassified from accumulated other comprehensive income into income, period	12 months
Estimated amount reclassified from accumulated other comprehensive income into income	$ 3,401
Zero Cost Collar and Forward Contracts [Member] \| Nomura Financial Investment (Korea) Co., Ltd. [Member]
Derivative [Line Items]
Deposit with counterparty	10,550	$ 8,750
Threshold amount of cash collateral	500
Cash collateral for credit exposure in derivatives	2,720	$ 1,070
Termination provisions for cash and cash equivalents	$ 30,000
Debt Instrument, Credit Rating	B-/B3

Sales of Accounts Receivable and Receivable Discount Program - Additional Information (Detail) - Trade Accounts Receivable [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from sale of accounts receivable	$ 7,989
Selling, General and Administrative Expenses [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Pre-tax losses on accounts receivable	$ 25

Property, Plant and Equipment (Tables)

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

Summary of Property, Plant and Equipment

Property, plant and equipment as of March 31, 2020 and December 31, 2019 are comprised of the following (in thousands):


	March 31, 2020			December 31, 2019
Buildings and related structures	$	21,309		$	22,502
Machinery and equipment		85,213			89,453
Finance lease right-of-use assets		306			323
Others		20,863			22,242

		127,691			134,520
Less: accumulated depreciation		(73,987	)		(75,704	)
Land		13,497			14,252

Property, plant and equipment, net	$	67,201		$	73,068

Leases - Aggregate future lease payment (Detail) $ in Thousands	Mar. 31, 2020 USD ($)
Leases [Abstract]
Operating Leases, 2020	$ 1,192
Operating Leases, 2021	254
Operating Leases, 2022	21
Operating Leases, 2023	1
Operating Leases, Thereafter	0
Operating Leases, Total future lease payments	1,468
Less: Present value adjustment	(55)
Present value of future payments	1,413
Finance Leases [Abstract]
Finance Leases, 2020	55
Finance Leases, 2021	74
Finance Leases, 2022	74
Finance Leases, 2023	74
Finance Leases, Thereafter	0
Finance Leases, Total future lease payments	277
Less: Present value adjustment	(37)
Present value of future payments	$ 240

Discontinued Operations and Assets Held for Sale (Tables)

3 Months Ended

Mar. 31, 2020

Discontinued Operations and Assets Held for Sale [Abstract]

Schedule Of Results From Discontinued Operations

The following table summarizes the results from discontinued operations, net of tax, for the three months ended March 31, 2020 and 2019.


	Three Months Ended
	March 31, 2020			March 31, 2019
	(In thousands of US dollars)
Revenues:
Net sales – Foundry Services Group	$	86,279		$	57,116
Net sales – transitional Fab 3 foundry services		(9,737	)		(7,003	)
Total revenues		76,542			50,113
Cost of sales:
Cost of sales – Foundry Services Group		65,583			53,438
Cost of sales – transitional Fab 3 foundry services		(9,737	)		(7,003	)
Total cost of sales		55,846			46,435
Gross profit		20,696			3,678
Operating expenses:
Selling, general and administrative expenses		5,644			6,034
Research and development expenses		7,403			7,974
Restructuring and other charges		2,115			2,894
Total operating expenses		15,162			16,902
Operating income (loss) from discontinued operations		5,534			(13,224	)
Foreign currency gain, net		2,097			613
Other income		107			86
Income (loss) from discontinued operations before income tax expense		7,738			(12,525	)
Income tax expense		409			45
Income (loss) from discontinued operations, net of tax	$	7,329		$	(12,570	)

Schedule Of Results From Discontinued Operations Balance Sheet


	March 31, 2020		December 31, 2019
	(In thousands of US dollars)
Assets
Current assets
Accounts receivable, net	$	40,735	$	48,194
Unbilled accounts receivable, net		9,374		16,463
Inventories, net		34,968		31,863
Other current assets		2,891		3,301
Other assets of the disposal group classified as held for sale		1,461		—

Total current assets held for sale	$	89,429	$	99,821

Property, plant and equipment, net		99,604		109,506
Intangible assets, net		1,202		1,245
Other non-current assets		11,384		12,683

Total assets held for sale	$	201,619	$	223,255

Liabilities
Current liabilities
Accounts payable	$	20,462	$	20,503
Other current liabilities		14,773		16,537

Total current liabilities held for sale	$	35,235	$	37,040

Accrued severance benefits, net		93,121		95,547
Other non-current liabilities		13,657		15,334

Total liabilities held for sale	$	142,013	$	147,921

Schedule Of Results From Discontinued Operations Alternative Cash Flow Information

The following table provides supplemental cash flows information related to discontinued operations:


	Three Months Ended
	March 31, 2020			March 31, 2019
	(In thousands of US dollars)
Significant non - cash operating activities:
Depreciation and amortization	$	5,365		$	5,752
Provision for severance benefits		3,052			1,803
Stock-based compensation		123			106
Investing activities:
Capital expenditures	$	(1,479	)	$	(4,469	)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock Outstanding [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings (Deficit) [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance beginning at Dec. 31, 2018	$ (17,310)		$ 431	$ 142,600	$ (36,305)	$ (103,926)	$ (20,110)
Balance, Shares beginning at Dec. 31, 2018		34,441,232
Stock-based compensation	669			669
Exercise of stock options	48		0	48
Exercise of stock options, Shares		8,624
Settlement of restricted stock units			2	(2)
Settlement of restricted stock units, Shares		167,453
Acquisition of treasury stock	(2,585)					(2,585)
Acquisition of treasury stock, Shares		(393,807)
Other comprehensive income, net	6,992						6,992
Net loss	(34,125)
Balance ending at Mar. 31, 2019	(46,311)		433	143,315	(70,430)	(106,511)	(13,118)
Balance, Shares ending at Mar. 31, 2019		34,223,502
Balance beginning at Dec. 31, 2019	$ (14,981)		439	152,404	(58,131)	(107,033)	(2,660)
Balance, Shares beginning at Dec. 31, 2019	34,800,312	34,800,312
Stock-based compensation	$ 885			885
Settlement of restricted stock units			3	(3)
Settlement of restricted stock units, Shares		308,364
Acquisition of treasury stock	(616)					(616)
Acquisition of treasury stock, Shares		(53,994)
Other comprehensive income, net	17,305						17,305
Net loss	(23,749)				(23,749)
Balance ending at Mar. 31, 2020	$ (21,156)		$ 442	$ 153,286	$ (81,880)	$ (107,649)	$ 14,645
Balance, Shares ending at Mar. 31, 2020	35,054,682	35,054,682

Business, Basis of Presentation and Significant Accounting Policies - Additional Information (Detail) $ in Millions	Mar. 30, 2020 USD ($)	Mar. 31, 2020 Facilities
Foundry Services Group And Fab Four [Member] \| Manufacturing Facility [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Number of facilities \| Facilities		2
Foundry Services Group [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Proceeds from Sale of Business \| $	$ 344.7

Accrued Expenses (Tables)

3 Months Ended

Mar. 31, 2020

Payables and Accruals [Abstract]

Summary of Accrued Expenses

Accrued expenses as of March 31, 2020 and December 31, 2019 are comprised of the following (in thousands):


	March 31, 2020		December 31, 2019
Payroll, benefits and related taxes, excluding severance benefits	$	8,992	$	8,493
Withholding tax attributable to intercompany interest income		23,771		23,371
Interest on senior notes		3,444		8,205
Outside service fees		1,224		1,996
Others		4,058		2,734

Accrued expenses	$	41,489	$	44,799

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Other Current Assets [Member]
Loss Contingencies [Line Items]
Prepayments to suppliers	$ 5,118	$ 6,593

Discontinued Operations and Assets Held for Sale - Additional Information (Detail) - Foundry Services Group And Fab Four [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Schedule Of Disposal Group Not Discontinued Operation Income Statement [Line Items]
Income (loss) from discontinued operations before income tax expense	$ 2,115	$ (743)
Income tax expense		$ 2,151

- Definition

Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

- Definition

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

+ References + Details

Accumulated Other Comprehensive Income (Loss) - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Equity [Abstract]
Income tax related to accumulated other comprehensive loss	$ 0	$ 0

Derivative Financial Instruments - Impact of Derivative Instruments on Consolidated Statement of Operations (Detail) - Cash Flow Hedging [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative [Line Items]
Amount of Loss Recognized in AOCI on Derivatives (Effective Portion)	$ (5,004)	$ (499)
Other income, net [Member]
Derivative [Line Items]
Amount of Loss Recognized in Statement of Operations on Derivatives (Ineffective Portion)	117	(56)
Net Sales [Member]
Derivative [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)	(58)	(187)
Zero Cost Collars [Member]
Derivative [Line Items]
Amount of Loss Recognized in AOCI on Derivatives (Effective Portion)	(5,004)	34
Zero Cost Collars [Member] \| Other income, net [Member]
Derivative [Line Items]
Amount of Loss Recognized in Statement of Operations on Derivatives (Ineffective Portion)	117
Zero Cost Collars [Member] \| Net Sales [Member]
Derivative [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)	$ (58)
Forward [Member]
Derivative [Line Items]
Amount of Loss Recognized in AOCI on Derivatives (Effective Portion)		(533)
Forward [Member] \| Other income, net [Member]
Derivative [Line Items]
Amount of Loss Recognized in Statement of Operations on Derivatives (Ineffective Portion)		(56)
Forward [Member] \| Net Sales [Member]
Derivative [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)		(89)
Forwards - excluded time value [Member] \| Net Sales [Member]
Derivative [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)		$ (98)

Accrued Severance Benefits (Tables)

3 Months Ended

Mar. 31, 2020

Postemployment Benefits [Abstract]

Changes in Accrued Severance Benefits

Changes in accrued severance benefits are as follows (in thousands):


	Three Months Ended
	March 31, 2020			March 31, 2019
Beginning balance	$	53,344		$	55,691
Provisions		2,019			1,314
Severance payments		(1,952	)		(1,496	)
Translation adjustments		(2,801	)		(956	)

		50,610			54,553
Less: Cumulative contributions to severance insurance deposit accounts		(1,557	)		(869	)
The National Pension Fund		(75	)		(87	)
Group severance insurance plan		(213	)		(243	)

Accrued severance benefits, net	$	48,765		$	53,354

Future Benefits Payments to Employees

The Company is liable to pay the following future benefits to its

non-executive

employees upon their normal retirement age (in thousands):


	Severance benefit
Remainder of 2020	$	369
2021		626
2022		823
2023		580
2024		788
2025		2,201
2026 – 2030		19,439

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 161	$ 139

Derivative Financial Instruments - Fair Values of Outstanding Zero Cost Collar and Forward Contracts Recorded as Assets and Liabilities (Detail) - Zero Cost Collars [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Asset Derivatives:
Other current assets	$ 3,500
Liability Derivatives:
Other current liabilities		$ 1,456
Other Current Assets [Member]
Asset Derivatives:
Other current assets		$ 1,456
Other Current Liabilities [Member]
Liability Derivatives:
Other current liabilities	$ 3,500

Sales of Accounts Receivable and Receivable Discount Program

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Sales of Accounts Receivable and Receivable Discount Program

3. Sales of Accounts Receivable and Receivable Discount Program

The Company has entered into an agreement to sell selected trade accounts receivable to a financial institution from time to time since March 2012. After the sale, the Company does not retain any interest in the receivables and the applicable financial institution collects these accounts receivable directly from the customer. There was no sale of these accounts receivable for the three months ended March 31, 2020. For the three months ended March 31, 2019, the proceeds from the sales of these accounts receivable totaled $7,989 thousand and these sales resulted in

pre-tax

losses of $25 thousand, which are included in selling, general and administrative expenses in the consolidated statements of operations. Net proceeds of this accounts receivable sale program are recognized in the consolidated statements of cash flows as part of operating cash flows.

The Company uses receivable discount programs with certain customers. These discount arrangements allow the Company to accelerate collection of customers’ receivables.

Geographic and Other Information (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Schedule of Operating Segments

The following sets forth information relating to the single continuing operating segment (in thousands):


	Three Months Ended
	March 31, 2020		March 31, 2019
Revenues
Standard products business
Display Solutions	$	77,593	$	58,230
Power Solutions		33,143		42,034

Total standard products business	$	110,736	$	100,264
Transitional Fab 3 foundry services		9,737		7,003

Total revenues	$	120,473	$	107,267


	Three Months Ended
	March 31, 2020		March 31, 2019
Gross Profit
Standard products business	$	29,130	$	19,023
Transitional Fab 3 foundry services		—		—

Total gross profit	$	29,130	$	19,023

Net Sales by Region, Based on Location of Products are Billed


	Three Months Ended
	March 31, 2020		March 31, 2019
Korea	$	30,817	$	34,646
Asia Pacific (other than Korea)		77,542		63,747
United States		709		462
Europe		971		1,133
Others		697		276

Total	$	110,736	$	100,264

Borrowings - Additional Information (Detail) - USD ($)				1 Months Ended	3 Months Ended		12 Months Ended
Borrowings - Additional Information (Detail) - USD ($)	Jan. 17, 2017	Jan. 17, 2017	Jul. 18, 2013	Feb. 28, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 31, 2019
Debt Instrument [Line Items]
Repurchase of common stock, shares									1,795,444
Repurchase of common stock					$ 616,000	$ 2,585,000			$ 11,401,000
Loss on early extinguishment of long-term borrowings, net						(42,000)
6.625% Senior Notes Due 2021 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount			$ 225,000,000
Interest rate			6.625%		6.625%		6.625%
Due date			Jul. 15, 2021		Jul. 01, 2021		Jul. 01, 2021
Aggregate principal amount of senior notes pricing			99.50%
Debt issuance costs paid			$ 5,039,000
Interest expense related to the Exchangeable Notes					$ 3,943,000	3,930,000
Original debt issue discount			$ 1,125,000
Debt Instrument, Repurchased Face Amount								$ 500,000		$ 250,000
Loss on early extinguishment of long-term borrowings, net					$ 21,000			28,000
6.625% Senior Notes Due 2021 [Member] \| Senior Notes [Member] \| 2019 [Member]
Debt Instrument [Line Items]
Redemption price plus accrued, unpaid interest and special interest to the date of redemption					100.00%
5.0% Exchangeable Senior Notes due March 2021 [Member] \| Exchangeable Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 86,250,000	$ 86,250,000
Interest rate	5.00%	5.00%			5.00%		5.00%
Due date		Mar. 01, 2021			Mar. 01, 2021		Mar. 01, 2021
Aggregate principal amount of senior notes pricing	5.00%
Convertible notes principal amount denomination value					$ 1,000,000
Conversion of converted notes, shares issued					121.1387
Exchange price					$ 8.26
Redemption price plus accrued, unpaid interest and special interest to the date of redemption					100.00%
Minimum required percentage of holders to declare repurchase of notes					25.00%
Percentage of notes to repurchased on declaration by minimum required holders					100.00%
Debt issuance costs paid		$ 5,902,000			$ 5,902,000
Interest expense related to the Exchangeable Notes					$ 1,416,000	$ 1,408,000
Debt Instrument, Repurchased Face Amount				$ 920,000				1,590,000
Loss on early extinguishment of long-term borrowings, net				$ 63,000				$ 234,000

Derivative Financial Instruments - Offsetting of Derivative Liabilities (Detail) - Zero Cost Collars [Member] $ in Thousands	Dec. 31, 2019 USD ($)
Derivative [Line Items]
Liability Derivatives, Gross amounts of recognized liabilities	$ 1,456
Liability Derivatives, Net amounts of liabilities presented in the balance sheets	1,456
Liability Derivatives, Gross amounts not offset in the balance sheets, Cash collateral pledged	1,070
Liability Derivatives, Net amount after master netting	$ 2,526

Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

Intangible assets as of March 31, 2020 and December 31, 2019 are comprised of the following (in thousands):


	March 31, 2020
	Gross amount		Accumulated amortization			Net amount
Technology	$	6,226	$	(6,226	)	$	—
Customer relationships		9,641		(9,641	)		—
Intellectual property assets		8,314		(5,731	)		2,583

Intangible assets, net	$	24,181	$	(21,598	)	$	2,583


	December 31, 2019
	Gross amount		Accumulated amortization			Net amount
Technology	$	6,575	$	(6,575	)	$	—
Customer relationships		10,180		(10,180	)		—
Intellectual property assets		8,637		(5,868	)		2,769

Intangible assets, net	$	25,392	$	(22,623	)	$	2,769

Property, Plant and Equipment

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

5. Property, Plant and Equipment

Property, plant and equipment as of March 31, 2020 and December 31, 2019 are comprised of the following (in thousands):


	March 31, 2020			December 31, 2019
Buildings and related structures	$	21,309		$	22,502
Machinery and equipment		85,213			89,453
Finance lease right-of-use assets		306			323
Others		20,863			22,242

		127,691			134,520
Less: accumulated depreciation		(73,987	)		(75,704	)
Land		13,497			14,252

Property, plant and equipment, net	$	67,201		$	73,068

Aggregate depreciation expenses totaled $2,409 thousand and $2,412 thousand for the three months ended March 31, 2020 and 2019, respectively.

Concurrent with the execution of the BTA, the Company executed a factory (kun) mortgage agreement under which the real property owned by the Company in respect of the Fab 3 fabrication facility located in Gumi, Korea and other material assets located in, attached to or forming part of such facility were pledged as collateral for purposes of securing the payment of its termination fee of $34,470 thousand under the BTA. The Company has a right to replace the factory (kun) mortgage at any time with a deposit of $34,470 thousand

cash into escrow

Discontinued Operations and Assets Held for Sale - Schedule Of Results From Discontinued Operations Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets
Total current assets held for sale	$ 201,619	$ 99,821
Current liabilities
Total current liabilities held for sale	142,013	37,040
Foundry Services Group And Fab Three Foundry Services [Member]
Current assets
Accounts receivable, net	40,735	48,194
Unbilled accounts receivable, net	9,374	16,463
Inventories, net	34,968	31,863
Other current assets	2,891	3,301
Other assets of the disposal group classified as held for sale	1,461
Total current assets held for sale	89,429	99,821
Property, plant and equipment, net	99,604	109,506
Intangible assets, net	1,202	1,245
Other non-current assets	11,384	12,683
Total assets held for sale	201,619	223,255
Current liabilities
Accounts payable	20,462	20,503
Other current liabilities	14,773	16,537
Total current liabilities held for sale	35,235	37,040
Accrued severance benefits, net	93,121	95,547
Other non-current liabilities	13,657	15,334
Total liabilities held for sale	$ 142,013	$ 147,921

Foreign Currency Loss, Net - Additional Information (Detail) $ in Thousands	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Foreign Currency Transaction [Abstract]
Exchange rates using first base rate	1,222,600	1,157,800
Intercompany loan balances	$ 684,021	$ 686,485

Accrued Severance Benefits - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020
Percentage of employees eligible for severance benefits	98.00%
Korea [Member] \| Maximum [Member]
Retirement age of employees	60 years