0001193125-21-239242 | 10-Q | XBRL Viewer | Magnachip Semiconductor Corp

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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2021	Jul. 31, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Registrant Name	Magnachip Semiconductor Corporation
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 Shell Company	false
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Common Stock
Trading Symbol	MX
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		46,451,323
Entity File Number	001-34791
Entity Tax Identification Number	83-0406195
Entity Address, Address Line One	c/o MagnaChip Semiconductor S.A. 1
Entity Address, City or Town	Allée Scheffer
Entity Address, Postal Zip Code	L-2520
City Area Code	352
Local Phone Number	45-62-62
Document Quarterly Report	true
Document Transition Report	false
Entity Address, Country	LU

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 271,880	$ 279,940
Accounts receivable, net	56,730	64,390
Inventories, net	41,369	39,039
Other receivables	9,173	4,338
Prepaid expenses	6,836	7,332
Hedge collateral (Note 9)	4,830	5,250
Other current assets (Notes 10 and 19)	5,117	9,321
Total current assets	395,935	409,610
Property, plant and equipment, net	94,721	96,383
Operating lease right-of-use assets	4,520	4,632
Intangible assets, net	2,541	2,727
Long-term prepaid expenses	5,626	4,058
Deferred income taxes	43,069	44,541
Other non-current assets	11,141	9,739
Total assets	557,553	571,690
Current liabilities
Accounts payable	52,040	52,164
Other accounts payable	9,119	2,531
Accrued expenses (Note 8)	13,020	16,241
Accrued income taxes	1,679	12,398
Operating lease liabilities	2,181	2,210
Current portion of long-term borrowings, net		83,479
Other current liabilities (Note 10)	5,001	4,595
Total current liabilities	83,040	173,618
Accrued severance benefits, net	39,520	40,462
Non-current operating lease liabilities	2,338	2,422
Other non-current liabilities	10,024	9,588
Total liabilities	134,922	226,090
Commitments and contingencies (Note 19)
Stockholders' equity
Common stock, $0.01 par value, 150,000,000 shares authorized, 55,562,907 shares issued and 46,350,945 outstanding at June 30, 2021 and 44,943,854 shares issued and 35,783,347 outstanding at December 31, 2020	556	450
Additional paid-in capital	253,244	163,010
Retained earnings	279,163	286,834
Treasury stock, 9,211,962 shares at June 30, 2021 and 9,160,507 shares at December 31, 2020, respectively	(109,407)	(108,397)
Accumulated other comprehensive income (loss)	(925)	3,703
Total stockholders' equity	422,631	345,600
Total liabilities and stockholders' equity	$ 557,553	$ 571,690

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
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	55,562,907	44,943,854
Common stock, shares outstanding	46,350,945	35,783,347
Treasury stock, shares	9,211,962	9,160,507

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net sales	$ 113,876	$ 118,828	$ 236,895	$ 239,301
Cost of sales	79,906	86,690	168,543	178,033
Gross profit	33,970	32,138	68,352	61,268
Operating expenses:
Selling, general and administrative expenses	14,001	12,408	26,635	24,510
Research and development expenses	13,322	11,108	26,745	21,617
Other charges	5,020		15,436	554
Total operating expenses	32,343	23,516	68,816	46,681
Operating income (loss)	1,627	8,622	(464)	14,587
Interest expense	(85)	(5,430)	(1,126)	(11,037)
Foreign currency gain (loss), net	250	8,469	(4,421)	(22,502)
Other income, net	611	791	1,231	1,629
Income (loss) from continuing operations before income tax expense	2,403	12,452	(4,780)	(17,323)
Income tax expense	2,601	678	2,891	1,981
Income (loss) from continuing operations	(198)	11,774	(7,671)	(19,304)
Income from discontinued operations, net of tax		17,397		24,726
Net income (loss)	$ (198)	$ 29,171	$ (7,671)	$ 5,422
Basic earnings (loss) per common share—
Continuing operations	$ 0.00	$ 0.34	$ (0.18)	$ (0.55)
Discontinued operations	0	0.50	0	0.71
Total	0.00	0.84	(0.18)	0.16
Diluted earnings (loss) per common share—
Continuing operations	0.00	0.28	(0.18)	(0.55)
Discontinued operations	0	0.37	0	0.71
Total	$ 0.00	$ 0.65	$ (0.18)	$ 0.16
Weighted average number of shares—
Basic	46,322,027	35,092,312	43,324,088	34,992,734
Diluted	46,322,027	46,474,237	43,324,088	34,992,734
Fab Three Foundry Services [Member]
Net sales	$ 10,608	$ 9,873	$ 20,721	$ 19,610
Cost of sales	9,497	9,873	18,887	19,610
Gross profit	1,111		1,834
Standard products business [Member]
Net sales	103,268	108,955	216,174	219,691
Cost of sales	70,409	76,817	149,656	158,423
Gross profit	$ 32,859	$ 32,138	$ 66,518	$ 61,268

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (198)	$ 29,171	$ (7,671)	$ 5,422
Other comprehensive income (loss)
Foreign currency translation adjustments	109	(6,543)	(1,949)	15,708
Derivative adjustments
Fair valuation of derivatives	432	2,204	(1,693)	(2,800)
Reclassification adjustment for loss (gain) on derivatives included in net income (loss)	(475)	193	(986)	251
Total other comprehensive income (loss)	66	(4,146)	(4,628)	13,159
Total comprehensive income (loss)	$ (132)	$ 25,025	$ (12,299)	$ 18,581

- Definition

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

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+ Details

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, 2019	$ (14,981)		$ 439	$ 152,404	$ (58,131)	$ (107,033)	$ (2,660)
Balance, Shares beginning at Dec. 31, 2019		34,800,312
Stock-based compensation	2,528			2,528
Exercise of stock options	663		1	662
Exercise of stock options, Shares		88,351
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 (loss), net	13,159						13,159
Net income (loss)	5,422				5,422
Balance ending at Jun. 30, 2020	6,175		443	155,591	(52,709)	(107,649)	10,499
Balance, Shares ending at Jun. 30, 2020		35,143,033
Balance beginning at Mar. 31, 2020	(21,156)		442	153,286	(81,880)	(107,649)	14,645
Balance, Shares beginning at Mar. 31, 2020		35,054,682
Stock-based compensation	1,643			1,643
Exercise of stock options	663		1	662
Exercise of stock options, Shares		88,351
Other comprehensive income (loss), net	(4,146)						(4,146)
Net income (loss)	29,171				29,171
Balance ending at Jun. 30, 2020	6,175		443	155,591	(52,709)	(107,649)	10,499
Balance, Shares ending at Jun. 30, 2020		35,143,033
Balance beginning at Dec. 31, 2020	$ 345,600		450	163,010	286,834	(108,397)	3,703
Balance, Shares beginning at Dec. 31, 2020	35,783,347	35,783,347
Stock-based compensation	$ 4,051			4,051
Exchange of exchangeable senior notes into common stock	83,740,000	10,144,131
Exchange of exchangeable senior notes	$ 83,740		101	83,639
Exercise of stock options	2,549		2	2,547
Exercise of stock options, Shares		176,760
Settlement of restricted stock units			3	(3)
Settlement of restricted stock units, Shares		298,162
Acquisition of treasury stock	(1,010)					(1,010)
Acquisition of treasury stock, Shares		(51,455)
Other comprehensive income (loss), net	(4,628)						(4,628)
Net income (loss)	(7,671)				(7,671)
Balance ending at Jun. 30, 2021	$ 422,631		556	253,244	279,163	(109,407)	(925)
Balance, Shares ending at Jun. 30, 2021	46,350,945	46,350,945
Balance beginning at Mar. 31, 2021	$ 420,347		555	250,829	279,361	(109,407)	(991)
Balance, Shares beginning at Mar. 31, 2021		46,257,413
Stock-based compensation	2,405			2,405
Exercise of stock options	11		0	11
Exercise of stock options, Shares		1,000
Settlement of restricted stock units			1	(1)
Settlement of restricted stock units, Shares		92,532
Other comprehensive income (loss), net	66						66
Net income (loss)	(198)				(198)
Balance ending at Jun. 30, 2021	$ 422,631		$ 556	$ 253,244	$ 279,163	$ (109,407)	$ (925)
Balance, Shares ending at Jun. 30, 2021	46,350,945	46,350,945

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net income (loss)	$ (7,671)	$ 5,422
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization	6,998	10,479
Provision for severance benefits	3,507	10,179
Amortization of debt issuance costs and original issue discount	261	1,205
Loss on foreign currency, net	13,353	26,397
Restructuring and other charges	3,295	141
Provision for inventory reserves	3,346	2,033
Stock-based compensation	4,051	2,528
Other, net	266	(111)
Changes in operating assets and liabilities
Accounts receivable, net	5,098	(438)
Unbilled accounts receivable, net		10,933
Inventories	(7,170)	(14,060)
Other receivables	(4,841)	67
Other current assets	8,623	4,747
Accounts payable	1,040	4,947
Other accounts payable	(2,287)	(5,898)
Accrued expenses	(3,980)	161
Accrued income taxes	(10,249)	349
Other current liabilities	(102)	871
Other non-current liabilities	(274)	1,238
Payment of severance benefits	(2,836)	(4,272)
Other, net	(62)	147
Net cash provided by operating activities	10,366	57,065
Cash flows from investing activities
Proceeds from settlement of hedge collateral	972	5,855
Payment of hedge collateral	(585)	(7,841)
Purchase of property, plant and equipment	(4,866)	(8,842)
Payment for intellectual property registration	(288)	(473)
Collection of guarantee deposits	307	47
Payment of guarantee deposits	(4,960)	(571)
Other, net	(130)	21
Net cash used in investing activities	(9,550)	(11,804)
Cash flows from financing activities
Proceeds from exercise of stock options	2,549	663
Acquisition of treasury stock	(1,653)	(1,021)
Repayment of financing related to water treatment facility arrangement	(288)	(267)
Repayment of principal portion of finance lease liabilities	(33)	(119)
Net cash provided by (used in) financing activities	575	(744)
Effect of exchange rates on cash and cash equivalents	(9,451)	(3,350)
Net increase (decrease) in cash and cash equivalents	(8,060)	41,167
Cash and cash equivalents
Beginning of the period	279,940	151,657
End of the period	271,880	192,824
Supplemental cash flow information
Cash paid for interest	2,094	9,522
Cash paid for income taxes	11,227	1,889
Non-cash investing activities
Property, plant and equipment additions in other accounts payable	$ 3,632	$ 602
Exchange of exchangeable senior notes into common stock	83,740

Business, Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
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 September 1, 2020 (the “Closing Date”), the Company completed the sale of the Company’s Foundry Services Group business and its fabrication facility located in Cheongju, Korea, known as “Fab 4” to Key Foundry Co., Ltd. (the “Buyer”), a Korean corporation, in exchange for a purchase price equal to approximately $350.6 million in cash, pursuant to the terms of a business transfer agreement (the “Business Transfer Agreement”) dated March 31, 2020 by and among the Company and Magnus Semiconductor, LLC, a Korean limited liability company (“Magnus”). The purchase price was paid in a combination of U.S. Dollars in the amount of $46.5 million and Korean Won in the amount of approximately KRW 360.6 billion. In addition to the purchase price, the Buyer assumed all severance liabilities relating to the transferred employees, which had a value of approximately $100 million. The Buyer is a wholly owned subsidiary of Magnus, which was established by Alchemist Capital Partners Korea Co., Ltd. and Credian Partners, Inc. On April 20, 2020, Magnus assigned, and the Buyer assumed, all rights and obligations of Magnus under the Business Transfer Agreement. This divestiture of the Foundry Services Group business and Fab 4 was made in connection with the Company’s strategic shift of its operational focus to its standard products business. The Foundry Services Group was historically a reportable segment. The Foundry Services Group business was classified as discontinued operations in the Company’s consolidated statements of operations and excluded from both continuing operations and segment results for the three months ended March 31, 2020. Accordingly, 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 from the Closing Date (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 (“U.S. 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 (“ASC”) 270, “Interim Reporting” and, accordingly, do not include all of the information and note disclosures required by U.S. GAAP for complete financial statements, except for the changes below. The results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of the results to be expected for a full year or for any other periods. The consolidated statement of cash flow for the six months ended June 30, 2020 has not been adjusted to separately disclose the cash flow related to discontinued operations, but the material items in the operating and investing activities of the cash flow relating to discontinued operations for the same period is disclosed in Note 3. Unless otherwise stated, information in these notes to consolidated financial statements relates to the Company’s continuing operations and excludes the discontinued operations. The December 31, 2020 balance sheet data was derived from the Company’s audited financial statements, but does not include all disclosures required by U.S. GAAP. The interim consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020. Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 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. The Company adopted ASU 2019-12 as of January 1, 2021, and the adoption of ASU 2019-12 did not have a material impact on the Company’s consolidated financial statements.

Merger Agreement	6 Months Ended
Merger Agreement	Jun. 30, 2021
Business Combinations [Abstract]
Merger Agreement	2. Merger Agreement On March 25, 2021, the Company, South Dearborn Limited, an exempted company incorporated in the Cayman Islands with limited liability (“Parent”), formed by an affiliate of Wise Road Capital LTD, and Michigan Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”). The Merger Agreement provides that, among other things, and subject to the terms and conditions thereof, Merger Sub will be merged with and into the Company (the “Merger”), with the Company continuing its corporate existence under the General Corporation Law of the State of Delaware (the “DGCL”) as the surviving corporation in the Merger and becoming a wholly owned subsidiary of Parent. Pursuant to the Merger Agreement, each share of the Company’s common stock, par value $0.01 per share (the “Common Stock”), issued and outstanding immediately before the effective time of the Merger (the “Effective Time”) (other than (a) shares of Common Stock owned by the Company or any of its wholly owned subsidiaries or by Parent or any of its subsidiaries immediately before the Effective Time (collectively, the “Excluded Shares”) and (b) any shares of Common Stock for which the holder thereof (i) has not voted in favor of the Merger or consented to it in writing and (ii) has properly and validly exercised their statutory rights of appraisal in respect of such shares of Common Stock in accordance with Section 262 of the DGCL (collectively, “Dissenting Shares”)) will be cancelled and will cease to exist and will be automatically converted into the right to receive $29.00 in cash, without interest (the “Merger Consideration”), subject to applicable withholding taxes. Consummation of the Merger is subject to certain customary closing conditions, including (i) approval of the Merger Agreement by our stockholders, (ii) the receipt of certain required or requested governmental approvals or authorizations (including from the Committee on Foreign Investment in the United States (“CFIUS”) and the Korean Ministry of Trade, Industry and Energy (“MOTIE”)), (iii) the absence of any order or law issued, enacted or deemed applicable by certain governmental authorities specified in the Merger Agreement that makes consummation of the Merger illegal and that remains in effect (a “Prohibitive Order”), (iv) the absence of a Company Material Adverse Effect (as defined in the Merger Agreement) and (v) other customary closing conditions, including the accuracy of each party’s representations and warranties, and each party’s compliance with its obligations under the Merger Agreement (subject in the case of this clause (v) to certain materiality qualifiers). The Merger Agreement contains termination rights for each of the Company and Parent, including if (i) the consummation of the Merger does not occur by 11:59 p.m. (New York time) on September 25, 2021 (subject to extension to December 25, 2021 and again to March 25, 2022 at the option of either party if certain regulatory approvals or authorizations have not been obtained by such date or certain governmental authorities specified in the Merger Agreement have issued, enacted or deemed applicable a Prohibitive Order), (ii) the Requisite Company Vote is not obtained, (iii) any of certain governmental authorities specified in the Merger Agreement issues, enacts or deems applicable after the date of the Merger Agreement a Prohibitive Order that has become final and non-appealable, or (iv) the other party has breached the Merger Agreement, which breach would give rise to a failure, or has materially contributed to the failure, of certain conditions to the non-breaching party’s obligations to close (subject to a cure period). Additionally, each of the Company and Parent may terminate the Merger Agreement in certain other circumstances. For the three and six months ended June 30, 2021, the Company incurred $2,459 thousand and $12,290 thousand, respectively, of professional fees and certain transaction related-expenses incurred in connection with the Merger, which were recognized in other charges in the consolidated statements of operations. The foregoing description of the Merger Agreement is not complete and is qualified in its entirety by reference to the Merger Agreement, which is filed as Exhibit 2.1 to the Company’s Current Report on Form 8-K filed on March 29, 2021.

Discontinued Operations

6 Months Ended

Jun. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

3. Discontinued Operations

On September 1, 2020, the Company completed the sale of the Company’s Foundry Services Group business and Fab 4. As a result of the sale of the Foundry Services Group business and Fab 4, the Company recorded a gain of $287,117

thousand and all operations from the Foundry Services Group business and Fab 4 were classified as discontinued operations for the three and six months ended June 30, 2020. Following the consummation of the sale, and for up to three years, the Company is expected to provide the Transitional Fab 3 Foundry Services at an agreed upon cost plus

mark-up.

For the periods prior to the Closing Date, 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 for comparative purposes. Cash inflows to the Company from the Buyer related to providing the Transitional Fab 3 Foundry Services were

$11,166 thousand and $24,790 thousand for the three and six months ended June 30, 2021, respectively.

The following table summarizes the results from discontinued operations, net of tax, for the three and six months ended June 30, 2020.


	Three Months Ended			Six Months Ended
	June 30, 2020			June 30, 2020
	(In thousands of U.S. dollars)
Revenues:
Net sales – Foundry Services Group	$	95,779		$	182,058
Net sales – transitional Fab 3 foundry services		(9,873	)		(19,610	)

Total revenues		85,906			162,448
Cost of sales:
Cost of sales – Foundry Services Group		64,869			130,452
Cost of sales – transitional Fab 3 foundry services		(9,873	)		(19,610	)

Total cost of sales		54,996			110,842

Gross profit		30,910			51,606
Operating expenses:
Selling, general and administrative expenses		4,992			10,636
Research and development expenses		6,915			14,318
Restructuring and other charges		589			2,704

Total operating expenses		12,496			27,658

Operating income from discontinued operations		18,414			23,948
Foreign currency gain (loss), net		(23	)		2,074
Others, net		(59	)		48

Income from discontinued operations before income tax expense		18,332			26,070
Income tax expense		935			1,344

Income from discontinued operations, net of tax	$	17,397		$	24,726

For the three and six months ended June 30, 2020, the Company recorded $589 thousand and $2,704

thousand, respectively, in professional fees incurred in connection with the sale of the Foundry Services Group business and Fab 4, and recorded such costs as restructuring and other charges in the abov

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


	Six Months Ended
	June 30, 2020
	(In thousands of U.S. dollars)
Significant non-cash operating activities:
Depreciation and amortization	$	5,365
Provision for severance benefits		6,405
Stock-based compensation		263
Investing activities:
Capital expenditures	$	(4,415	)

Inventories

6 Months Ended

Jun. 30, 2021

Inventory Disclosure [Abstract]

Inventories

4. Inventories

Inventories as of June 30, 2021 and December 31, 2020 consist of the following (in thousands):


	June 30, 2021			December 31, 2020
Finished goods	$	7,829		$	6,425
Semi-finished goods and work-in-process		32,524			30,968
Raw materials		8,524			6,526
Materials in-transit		593			1,021
Less: inventory reserve		(8,101	)		(5,901	)

Inventories, net	$	41,369		$	39,039

Changes in inventory reserve for the three and six months ended June 30, 2021 and 2020 are as follows (in thousands):


	Three Months Ended			Six Months Ended			Three Months Ended			Six Months Ended
	June 30, 2021						June 30, 2020
Beginning balance	$	(6,281	)	$	(5,901	)	$	(4,807	)	$	(5,947	)
Change in reserve
Inventory reserve charged to costs of sales		(3,186	)		(5,350	)		(1,794	)		(3,069	)
Sale of previously reserved inventory		1,343			1,977			747			1,653

		(1,843	)		(3,373	)		(1,047	)		(1,416	)
Write off		28			930			642			1,141
Translation adjustments		(5	)		243			(95	)		221
Reclassified to assets held for sale		—			—			—			694

Ending balance	$	(8,101	)	$	(8,101	)	$	(5,307	)	$	(5,307	)

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.

Property, Plant and Equipment

6 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

5. Property, Plant and Equipment

Property, plant and equipment as of June 30, 2021 and December 31, 2020 are comprised of the following (in thousands):


	June 30, 2021			December 31, 2020
Buildings and related structures	$	24,184		$	24,882
Machinery and equipment		104,875			106,244
Finance lease right-of-use assets		331			344
Others		44,277			40,116

		173,667			171,586
Less: accumulated depreciation		(93,549	)		(90,370	)
Land		14,603			15,167

Property, plant and equipment, net	$	94,721		$	96,383

Aggregate depreciation expenses totaled $6,626 thousand and $4,794 thousand for the six months ended June 30, 2021 and 2020, respectively.

Intangible Assets

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

6. Intangible Assets

Intangible assets as of June 30, 2021 and December 31, 2020 are comprised of the following (in thousands):


	June 30, 2021
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	9,425	$	(6,884	)	$	2,541

Intangible assets	$	9,425	$	(6,884	)	$	2,541


	December 31, 2020
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	9,486	$	(6,759	)	$	2,727

Intangible assets	$	9,486	$	(6,759	)	$	2,727

Aggregate amortization expenses for intangible assets totaled $372 thousand and $320

thousand for the six months ended June 30, 2021 and 2020,

respectively.

Leases

6 Months Ended

Jun. 30, 2021

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 5 years.

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

Supplemental balance sheets information related to leases as of June 30, 2021 and December 31, 2020 are as follows (in thousands):


Leases	Classification	June 30, 2021		December 31, 2020
Assets
Operating lease	Operating lease right-of-use assets	$	4,520	$	4,632
Finance lease	Property, plant and equipment, net		165		206

Total lease assets		$	4,685	$	4,838

Liabilities
Current
Operating	Operating lease liabilities	$	2,181	$	2,210
Finance	Other current liabilities		69		68
Non-current
Operating	Non-current operating lease liabilities		2,338		2,422
Finance	Other non-current liabilities		112		153

Total lease liabilities		$	4,700	$	4,853

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


	June 30, 2021			December 31, 2020
Weighted average remaining lease term
Operating leases		2.9 years			3.0 years
Finance leases		2.5 years			3.0 years
Weighted average discount rate
Operating leases		4.71	%		5.55	%
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				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Operating lease cost	$	727	$	461	$	1,407	$	929
Finance lease cost
Amortization of right-of-use assets		16		15		33		31
Interest on lease liabilities		3		4		7		9

Total lease cost	$	746	$	480	$	1,447	$	969

The above table does not include an immaterial cost of short-term leases for the three and six months ended June 30, 2021 and 2020.

Other lease information is as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	727	$	461	$	1,407	$	929
Operating cash flows from finance leases		3		4		7		9
Financing cash flows from finance leases		17		14		33		28

The aggregate future lease payments for operating and finance leases as of June 30, 2021 are as follows (in thousands):


	Operating Leases			Finance Leases
Remainder of 2021	$	1,409		$	40
2022		1,574			79
2023		837			80
2024		601			—
2025		414			—

Total future lease payments		4,835			199
Less: Imputed interest		(316	)		(18	)

Present value of future payments	$	4,519		$	181

Accrued Expenses

6 Months Ended

Jun. 30, 2021

Payables and Accruals [Abstract]

Accrued Expenses

8. Accrued Expenses

Accrued expenses as of June 30, 2021 and December 31, 2020 are comprised of the following (in thousands):


	June 30, 2021		December 31, 2020
Payroll, benefits and related taxes, excluding severance benefits	$	8,259	$	10,296
Withholding tax attributable to intercompany interest income		1,144		28
Interest on senior notes		—		1,396
Outside service fees		1,179		755
Restructuring and others		1,611		2,658
Others		827		1,108

Accrued expenses	$	13,020	$	16,241

Derivative Financial Instruments

6 Months Ended

Jun. 30, 2021

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 contracts to hedge the risk of changes in the functional-currency-equivalent cash flows attributable to currency rate changes on U.S. dollar denominated revenues.

Details of the zero cost collar contracts as of June 30, 2021 are as follows (in thousands):


Date of transaction	Total notional amount		Month of settlement
December 15, 2020	$	30,000	July 2021 to December 2021
February 26, 2021	$	18,000	July 2021 to December 2021
May 13, 2021	$	39,000	January 2022 to September 2022

Details of the zero cost collar contracts as of December 31, 2020 are as follows (in thousands):


Date of transaction	Total notional amount		Month of settlement
July 13, 2020	$	30,000	January 2021 to June 2021
December 15, 2020	$	30,000	July 2021 to December 2021
December 18, 2020	$	18,000	March 2021 to June 2021

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 contract

The fair values of the Company’s outstanding zero cost collar contracts recorded as assets and liabilities as of June 30, 2021 and December 31, 2020 are as follows (in thousands):


Derivatives designated as hedging instruments:		June 30, 2021		December 31, 2020
Asset Derivatives:
Zero cost collars	Other current assets	$	—	$	2,036
Liability Derivatives:
Zero cost collars	Other current liabilities	$	846	$	195
Zero cost collars	Other non-current liabilities	$	66	$	—

Offsetting of derivative liabilities as of June 30, 2021 is as follows (in thousands):


As of June 30, 2021	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 June 30, 2021	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	$	912	$	—	$	912	$	—	$	(580)	$	332

Offsetting of derivative assets and liabilities as of December 31, 2020 is as follows (in thousands):


As of December 31, 2020	Gross amounts of recognized assets/liabilities		Gross amounts offset in the balance sheets		Net amounts of assets/liabilities presented in the balance sheets		Gross amounts not offset in the balance sheets				Net amount
As of December 31, 2020	Gross amounts of recognized assets/liabilities		Gross amounts offset in the balance sheets				Financial instruments		Cash collateral pledged		Net amount
Asset Derivatives:
Zero cost collars	$	2,036	$	—	$	2,036	$	—	$	—	$	2,036
Liability Derivatives:
Zero cost collars	$	195	$	—	$	195	$	—	$	—	$	195

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 June 30, 2021 and 2020. Net sales of discontinued operations for the three months ended June 30, 2020 are included in the below table (in thousands):


Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Income Recognized in AOCI on Derivatives				Location/Amount of Gain (Loss) Reclassified from AOCI Into Statement of Operations							Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
	Three Months Ended June 30,						Three Months Ended June 30,							Three Months Ended June 30,
	2021		2020				2021		2020					2021			2020
Zero cost collars	$	432	$	2,204		Net sales	$	475	$	(193	)		Other income, net	$	(58	)	$	55

	$	432	$	2,204			$	475	$	(193	)			$	(58	)	$	55

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the six months ended June 30, 2021 and 2020. Net sales of discontinued operations for the six months ended June 30, 2020 are included in the below table (in thousands):


Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Loss Recognized in AOCI on Derivatives						Location/Amount of Gain (Loss) Reclassified from AOCI Into Statement of Operations							Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
	Six Months Ended June 30,								Six Months Ended June 30,							Six Months Ended June 30,
	2021			2020					2021		2020					2021			2020
Zero cost collars	$	(1,693	)	$	(2,800	)		Net sales	$	986	$	(251	)		Other income, net	$	(144	)	$	172

	$	(1,693	)	$	(2,800	)			$	986	$	(251	)			$	(144	)	$	172

As of June 30, 2021, the amount expected to be reclassified from accumulated other comprehensive loss into loss within the next 12 months is $1,045 thousand.

The Company set aside cash deposits to the counterparties, Nomura Financial Investment (Korea) Co., Ltd. (“NFIK”), Deutsche Bank AG, Seoul Branch (“DB”) and Standard Chartered Bank Korea Limited (“SC”), as required for the zero cost collar contracts. These cash deposits are recorded as hedge collateral on the consolidated balance sheets. Cash deposits as of June 30, 2021 and December 31, 2020 are as follows (in thousands):


Counterparties	June 30, 2021		December 31, 2020
NFIK	$	3,250	$	3,250
DB		—		1,000
SC		1,000		1,000

Total	$	4,250	$	5,250

The Company is required to deposit additional cash collateral with NFIK and DB for any exposure in excess of $500

thousand, and $

580 thousand of additional cash collateral was required and recorded as hedge collateral on the consolidated balance sheets as of June 30, 2021. There was no such cash collateral required as of December 31, 2020.

These zero cost collar contracts may be terminated by the counterparties in a number of circumstances, including if the Company’s credit 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.

Fair Value Measurements

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

10. Fair Value Measurements

Fair Value of Financial Instruments

As of June 30, 2021, 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 June 30, 2021		Fair Value Measurement June 30, 2021		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)	$	846	$	846		—	$	846		—
Derivative liabilities (other non-current liabilities)	$	66	$	66		—	$	66		—

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


	Carrying Value December 31, 2020		Fair Value Measurement December 31, 2020		Quoted Prices in Active Markets for Identical Asset / Liability (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Derivative assets (other current assets)	$	2,036	$	2,036		—	$	2,036		—
Liabilities:
Derivative liabilities (other current liabilities)	$	195	$	195		—	$	195		—

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


	December 31, 2020
	Carrying Value		Fair Value
		(In thousands of U.S. dollars )
Borrowings:
5.0% Exchangeable Senior Notes due March 2021 (Level 2)	$	83,479	$	145,466

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 Exchangeable Notes matured on March 1, 2021, unless they were earlier repurchased or converted. The Company estimated 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.”

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 June 30, 2021 and 2020 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

Borrowings

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Long-term Borrowings

11. Borrowings

There were no borrowings outstanding as of June 30, 2021. As of December 31, 2020, the following table represents the Company’s borrowings (in thousands):


	December 31,
	2020
5.0% Exchangeable Senior Notes due March 2021	$	83,740
Less: unamortized discount and debt issuance costs		(261	)

Total borrowings, net		83,479
Less: current portion of long-term borrowings, net		83,479

Long-term borrowings, net	$	—

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 accrue

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 matured on March 1, 2021, unless they were earlier repurchased or converted. Holders had the right to 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 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 six months ended June 30, 2021 was $958 thousand. Interest expense related to the Exchangeable Notes for the three and six months ended June 30, 2020 were $1,425 thousand and $2,841 thousand, respectively.

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 borrowings, net in the consolidated statements of operations for the year ended December 31, 2019. 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 borrowings, net in the consolidated statements of operations for the year ended December 31, 2018.

Prior to the March 1, 2021 maturity of the Exchangeable Notes, holders elected to exchange all outstanding Exchangeable Notes for an aggregate of 10,144,131

shares of the Company’s common stock in satisfaction in full of the outstanding obligations under the Exchangeable Notes. Upon exchange, the Company delivered for each $1,000 principal amount of

exchanged

Exchangeable Notes a number of shares equal to the exchange rate of 121.1387 shares of common stock per $1,000 principal amount of Exchangeable Notes, which was equivalent to an exchange price of approximately $8.26 per share of common stock. In connection with the exchanges, the fractional shares were paid in cash. Following March 1, 2021, the Company does not have any Exchangeable Notes outstanding.

Accrued Severance Benefits

6 Months Ended

Jun. 30, 2021

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 June 30, 2021, 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			Six Months Ended			Three Months Ended			Six Months Ended
	June 30, 2021						June 30, 2020
Beginning balance	$	52,553		$	54,452		$	50,610		$	53,344
Provisions		1,736			3,507			1,755			3,774
Severance payments		(1,343	)		(2,836	)		(1,502	)		(3,454	)
Translation adjustments		159			(2,018	)		922			(1,879	)

		53,105			53,105			51,785			51,785
Less: Cumulative contributions to severance insurance deposit accounts		(13,316	)		(13,316	)		(1,570	)		(1,570	)
The National Pension Fund		(59	)		(59	)		(73	)		(73	)
Group severance insurance plan		(210	)		(210	)		(215	)		(215	)

Accrued severance benefits, net	$	39,520		$	39,520		$	49,927		$	49,927

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.

Beginning in July 2018, the Company contributes 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 2021	$	78
2022		258
2023		651
2024		932
2025		2,051
2026		2,356
2027 – 2031		19,643

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.

Foreign Currency Gain (Loss), Net	6 Months Ended
Foreign Currency Gain (Loss), Net	Jun. 30, 2021
Foreign Currency [Abstract]
Foreign Currency Gain (Loss), Net	13. Foreign Currency Gain (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 U.S. dollars and are affected by changes in the exchange rate between the Korean won and the U.S. dollar. As of June 30, 2021 and December 31, 2020, the outstanding intercompany loan balances including accrued interest between the Korean subsidiary and the Dutch subsidiary were $387,486 thousand and $378,852 thousand, respectively. The Korean won to U.S. dollar exchange rates were 1,130.0:1 and 1,088.0:1 using the first base rate as of June 30, 2021 and December 31, 2020, respectively, as quoted by the KEB Hana Bank.

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	14 . Income Taxes The Company and its subsidiaries file income tax returns in Korea, Japan, Taiwan, the U.S. 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. For the three and six months ended June 30, 2021, the Company recorded an income tax expense from continuing operations of $ 2,601 thousand and $ 2,891 thousand, respectively, primarily attributable to interest on intercompany loan balances. During the second quarter of 2021, income tax expense of $ 624 thousand was also recorded for certain income-based tax assessments as a result of a regular tax examination completed for the Company’s Korean subsidiary for multiple tax year s . For the three and six months ended June 30, 2020, the Company recorded an income tax expense from continuing operations of $ 678 thousand and $ 1,981 thousand, respectively, primarily attributable to interest on intercompany loan balances. The income tax expense was recorded for the Company’s Korean subsidiary based on the estimated taxable income for the respective period, combined with its ability to utilize net operating loss carryforwards up to 60% in 2020.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Geographic and Other Information

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Geographic and Other Information

15. Geographic and Other Information

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


	Three Months Ended				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Revenues
Standard products business
Display Solutions	$	46,601	$	69,176	$	105,496	$	146,769
Power Solutions		56,667		39,779		110,678		72,922

Total standard products business		103,268		108,955		216,174		219,691
Transitional Fab 3 foundry services		10,608		9,873		20,721		19,610

Total revenues	$	113,876	$	118,828	$	236,895	$	239,301


	Three Months Ended				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Gross Profit
Standard products business	$	32,859	$	32,138	$	66,518	$	61,268
Transitional Fab 3 foundry services		1,111		—		1,834		—

Total gross profit	$	33,970	$	32,138	$	68,352	$	61,268

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				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Korea	$	30,868	$	21,957	$	57,302	$	52,774
Asia Pacific (other than Korea)		69,352		84,210		153,092		161,752
United States		1,363		1,461		2,637		2,170
Europe		1,206		856		2,449		1,827
Others		479		471		694		1,168

Total	$	103,268	$	108,955	$	216,174	$	219,691

For the three months ended June 30, 2021 and 2020, of the Company’s net sales – standard products business in Asia Pacific (other than Korea), net sales – standard products business in China and Hong Kong represented 60.6% and 82.8%, respectively, and net sales—standard products business in Vietnam represented 32.0% and 13.8%, respectively. For the six months ended June 30, 2021 and 2020, of the Company’s net sales – standard products business in Asia Pacific (other than Korea), net sales – standard products business in China and Hong Kong represented 58.6% and 88.8%, respectively, and net sales—standard products business in Vietnam represented 35.0% and 7.7%, 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 80% and 88% for the three months ended June 30, 2021 and 2020, respectively, and 81% and 89%

for the six months ended June 30, 2021 and 2020, respectively.

For the three months ended June 30, 2021, the Company had two customers that represented 40.0% and 11.7% of its net sales – standard products business. For the six months ended June 30, 2021, the Company had two customers that represented 44.6% and 10.8% of its net sales – standard products business. For the three months ended June 30, 2020, the Company had one customer that represented 56.5% of its net sales – standard products business, and for the six months ended June 30, 2020, the Company had two customers that represented 54.7% and 10.7% of its net sales – standard products business.

As of June 30, 2021 and December 31, 2020, one customer accounted for 26.9% and 45.1% of accounts receivable, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

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-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

16. Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) consists of the following as of June 30, 2021 and December 31, 2020, respectively (in thousands):


	June 30, 2021			December 31, 2020
Foreign currency translation adjustments	$	120		$	2,069
Derivative adjustments		(1,045	)		1,634

Total	$	(925	)	$	3,703

Changes in accumulated other comprehensive income (loss) for the three months ended June 30, 2021 and 2020 are as follows (in thousands):


Three Months Ended June 30, 2021	Foreign currency translation adjustments		Derivative adjustments			Total
Beginning balance	$	11	$	(1,002	)	$	(991	)

Other comprehensive income before reclassifications		109		432			541
Amounts reclassified from accumulated other comprehensive income		—		(475	)		(475	)

Net current-period other comprehensive income (loss)		109		(43	)		66

Ending balance	$	120	$	(1,045	)	$	(925	)


Three Months Ended June 30, 2020	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	18,046		$	(3,401	)	$	14,645

Other comprehensive income (loss) before reclassifications		(6,543	)		2,204			(4,339	)
Amounts reclassified from accumulated other comprehensive loss		—			193			193

Net current-period other comprehensive income (loss)		(6,543	)		2,397			(4,146	)

Ending balance	$	11,503		$	(1,004	)	$	10,499

Changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2021 and 2020 are as follows (in thousands):


Six Months Ended June 30, 2021	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	2,069		$	1,634		$	3,703

Other comprehensive loss before reclassifications		(1,949	)		(1,693	)		(3,642	)
Amounts reclassified from accumulated other comprehensive income		—			(986	)		(986	)

Net current-period other comprehensive loss		(1,949	)		(2,679	)		(4,628	)

Ending balance	$	120		$	(1,045	)	$	(925	)


Six Months Ended June 30, 2020	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(4,205	)	$	1,545		$	(2,660	)

Other comprehensive income (loss) before reclassifications		15,708			(2,800	)		12,908
Amounts reclassified from accumulated other comprehensive loss		—			251			251

Net current-period other comprehensive income (loss)		15,708			(2,549	)		13,159

Ending balance	$	11,503		$	(1,004	)	$	10,499

Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

17. Earnings (Loss) Per Share

The following table illustrates the computation of basic and diluted earnings (loss) per common share for the three and six months ended June 30, 2021 and 2020:


	Three Months Ended					Six Months Ended
	June 30, 2021			June 30, 2020		June 30, 2021			June 30, 2020
	(In thousands of U.S. dollars, except share data)
Basic earnings (loss) per share
Income (loss) from continuing operations	$	(198	)	$	11,774	$	(7,671	)	$	(19,304	)
Income from discontinued operations, net of tax		—			17,397		—			24,726

Net income (loss)	$	(198	)	$	29,171	$	(7,671	)	$	5,422

Basic weighted average common stock outstanding		46,322,027			35,092,312		43,324,088			34,992,734
Basic earnings (loss) per common share
Continuing operations	$	(0.00	)	$	0.34	$	(0.18	)	$	(0.55	)
Discontinued operations		—			0.50		—			0.71

Total	$	(0.00	)	$	0.84	$	(0.18	)	$	0.16

Diluted earnings (loss) per share
Income (loss) from continuing operations	$	(198	)	$	11,774	$	(7,671	)	$	(19,304	)
Add back: Interest expense on Exchangeable Notes		—			1,425		—			—

Income (loss) from continuing operations allocated to common stockholders	$	(198	)	$	13,199	$	(7,671	)	$	(19,304	)
Income from discontinued operations, net of tax		—			17,397		—			24,726

Net income (loss) allocated to common stockholders	$	(198	)	$	30,596	$	(7,671	)	$	5,422

Basic weighted average common stock outstanding		46,322,027			35,092,312		43,324,088			34,992,734
Net effect of dilutive equity awards		—			1,237,770		—			—
Net effect of assumed conversion of 5.0% Exchangeable Notes to common stock		—			10,144,155		—			—

Diluted weighted average common stock outstanding		46,322,027			46,474,237		43,324,088			34,992,734
Continuing operations	$	(0.00	)	$	0.28	$	(0.18	)	$	(0.55	)
Discontinued operations		—			0.37		—			0.71

Total	$	(0.00	)	$	0.65	$	(0.18	)	$	0.16

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

	Three Months Ended				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Options		1,470,421		699,167		1,470,421		2,075,494
Restricted Stock Units		1,012,197		—		1,012,197		1,238,639

For the six months ended June 30, 2021 and 2020, 2,875,982 shares and 10,144,155 shares, respectively, of potential common stock from the assumed conversion of Exchangeable Notes were also excluded from the computation of diluted loss per share as the effect were anti-dilutive for the period.

Other Charges	6 Months Ended
Other Charges	Jun. 30, 2021
Other Expenses [Abstract]
Other Charges	18. Other Charges For the three months ended June 30, 2021, other charges totaled $ 5,020 thousand, of which $ 2,459 thousand related to professional fees and certain transaction related expenses incurred in connection with the Merger and $2,561 thousand related to certain non-recurring professional fees and expenses in connection with regulatory requests. For the six months ended June 30, 2021, other charges totaled $15,436 thousand, of which $12,290 thousand related to professional fees and certain transaction related expenses incurred in connection with the Merger and $3,146 thousand related to certain non-recurring professional fees and expenses in connection with regulatory requests. For the six months ended June 30, 2020, other charges were $554 thousand, which pertained to non-recurring professional service fees and expenses incurred in connection with certain treasury and finance initiatives.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	19. Commitments and Contingencies Advances to Suppliers 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 $1,150 thousand and $5,500 thousand as other current assets as of June 30, 2021 and December 31, 2020, 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. 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. Although some of these restrictions and other containment measures have since been lifted or scaled back, ongoing surges of COVID-19 have in some cases resulted in the re-imposition of certain restrictions and containment measures, and may continue to lead to other restrictions being re-implemented in the foreseeable future in response to efforts to reduce the rapid spread of COVID-19. The Company experienced some minor disruption in its Power Solutions business from assembly and test subcontractors located in China in the first quarter of 2020 as a result of the COVID-19 pandemic. To date, its external Display Solutions business contractors and sub-contractors have not been materially impacted by the COVID-19 pandemic. The Company is, however, unable to accurately predict the full impact that the COVID-19 pandemic will have on its future results of operations due to numerous uncertainties, including the severity and duration of the outbreak, the efficacy of ongoing global vaccination efforts, potential future recurrences of the outbreak, the spread of disease variants that may be resistant to the existing vaccines, 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 of the COVID-19 pandemic 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. Merger-related Complaints Since April 22, 2021, eleven complaints (each, a “Shareholder Complaint,” and together, the “Shareholder Complaints”) have been filed seeking to enjoin the Merger, or, if the Merger is consummated, rescind the Merger or recover damages, as well as an award of each plaintiff’s fees and litigation expenses. The Shareholder Complaints, each filed as an individual action by a purported stockholder of the Company, are captioned as Schulthess v. Magnachip Semiconductor Corporation, et al. , Case No. 1:21-cv-03587 (S.D.N.Y.) (the “Schulthess Complaint”), Pittman v. Magnachip Semiconductor Corporation, et al. , Case No. 1:21-cv-02306 (E.D.N.Y.), Flanagan v. Magnachip Semiconductor Corporation, et al. , Case No. 1:21-cv-03743 (S.D.N.Y.), Castelli v. Magnachip Semiconductor Corporation, et al. , Case No. 1:21-cv-03769 (S.D.N.Y.) (the “Castelli Complaint”), Doolittle v. Magnachip Semiconductor Corporation, et al. , Case No. 1:21-cv-03801 (S.D.N.Y.), Thomas v. Magnachip Semiconductor Corporation, et al. , Case No. 1:21-cv-03860 (S.D.N.Y.), Finger v. Magnachip Semiconductor Corporation, et al. , Case No. 1:21-cv-03927 (S.D.N.Y.), Kent v. Magnachip Semiconductor Corporation, et al. , Case No. 1:21-cv-00657 (D. Del.), Kennedy v. Magnachip Semiconductor Corporation, et al. , Case No. 2:21-cv-02110 (E.D. Pa.), Monroy v. Magnachip Semiconductor Corporation, et al. , Case No. 1:21-cv-04921 (S.D.N.Y.) (the “Monroy Complaint”), and Jones v. Magnachip Semiconductor Corporation, et al. , Case No. 1:21-cv-04966 (S.D.N.Y.). Each Shareholder Complaint alleges either that the preliminary proxy statement filed by the Company with the Securities and Exchange Commission (“SEC”) on April 19, 2021 or the definitive proxy statement filed by the Company with the SEC on May 7, 2021, is false and/or misleading and asserts claims for violations of Section 14(a) and 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and SEC Rule 14a-9 against the Company and certain current or former members of the Company’s board of directors (the “Board”). The Schulthess Complaint, Castelli Complaint and Monroy Complaint also allege breaches of fiduciary duties by certain current or former members of the Board. The Schulthess Complaint further alleges that the Company aided and abetted purported breaches of fiduciary duties by certain current or former members of the Board. Merger-related Events CFIUS On May 26, 2021, outside legal counsel of each of the Company and Parent received an e-mail from the U.S. Department of Treasury on behalf of the Staff Chairperson of the CFIUS. In the e-mail, the CFIUS Staff Chairperson, acting on the recommendation of CFIUS, requested that the parties file a notice concerning the Merger and thereby undergo formal CFIUS review of the Merger. Under the terms of the Merger Agreement, the parties’ receipt of the request from CFIUS to file a notice concerning the Merger results in the closing of the Merger now being conditioned on the receipt of CFIUS approval without the imposition of a “Burdensome Condition” (as defined in the Merger Agreement), other than a Burdensome Condition to which Parent had previously agreed. The Company and Parent filed such notice with CFIUS on June 11, 2021. On June 15, 2021, outside legal counsel of each of the Company and Parent received a letter attaching an “Order Establishing Interim Mitigation Measures” (the “Interim Order”) from the U.S. Department of Treasury on behalf of CFIUS. The Interim Order imposes the following interim measures, effective as of June 15, 2021, on the Company and Parent: (i) neither of the Company or Parent shall take any action, directly or indirectly, to close, consummate, complete, or effectuate the purpose of the Merger, including: (a) the transfer, lease, license, or sale of any asset or subsidiary of the Company to Parent or any affiliate thereof, (b) the merger of Parent or any affiliate thereof with or into the Company or any affiliate thereof, or (c) the acquisition of any equity or other ownership interest in the Company or any affiliate thereof by Parent or any subsidiary thereof; (ii) Parent shall not take, and shall ensure that none of its subsidiaries take, any security interest in the Company or any affiliate thereof; and (iii) the Company shall not take any action to: (a) change its state of incorporation from Delaware to any other jurisdiction or (b) delist from, or modify the existing listing of the Company on, the New York Stock Exchange. The Interim Order is to remain in effect until (1) CFIUS concludes action under Section 721 of the Defense Production Act of 1950, as amended (the “DPA”) with respect to the Merger, (2) the President takes action or declines to take action under Section 721 of the DPA with respect to the Merger or (3) CFIUS or the President revokes or terminates the Interim Order. On June 17, 2021, in light of the Interim Order, the Company announced the postponement of its special meeting of stockholders, which was scheduled to be held at 8:00 p.m. Eastern time on June 17, 2021, pending further developments with respect to the Interim Order. On July 26, 2021, outside legal counsel of each of the Company and Parent received a letter from the Acting CFIUS Staff Chairperson notifying the parties that CFIUS will undertake an investigation of the Merger pursuant to Section 721(b)(2) of the DPA, which will be completed no later than September 13, 2021. MOTIE On June 16, 2021, the Company’s Korean subsidiary received a letter from the MOTIE requesting it to either apply for an approval or file a report, as may be applicable, under Article 11-2 of the Act on Prevention of Divulgence and Protection of Industrial Technology (the “ITA”) concerning the Merger. Under the terms of the Merger Agreement, the Company’s Korean subsidiary’s receipt of the request from MOTIE to apply for approval or file a report pursuant to the ITA concerning the Merger may be deemed to have resulted in the closing of the Merger now being conditioned on the receipt of MOTIE’s authorization without the imposition of a “Burdensome Condition” (as defined in the Merger Agreement), other than a Burdensome Condition to which Parent had previously agreed. The Company’s Korean subsidiary filed such report with MOTIE on July 20, 2021. SAMR On June 30, 2021, based on an application filed by the Company and Parent on May 7, 2021, the State Administration for Market Regulation (“SAMR”) announced that the Merger was cleared pursuant to the Anti-monopoly Law (China) on June 21, 2021. Under the terms of the Merger Agreement, the parties’ receipt of the clearance from SAMR satisfies one of the conditions to the closing of the Merger.

Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Business	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 September 1, 2020 (the “Closing Date”), the Company completed the sale of the Company’s Foundry Services Group business and its fabrication facility located in Cheongju, Korea, known as “Fab 4” to Key Foundry Co., Ltd. (the “Buyer”), a Korean corporation, in exchange for a purchase price equal to approximately $350.6 million in cash, pursuant to the terms of a business transfer agreement (the “Business Transfer Agreement”) dated March 31, 2020 by and among the Company and Magnus Semiconductor, LLC, a Korean limited liability company (“Magnus”). The purchase price was paid in a combination of U.S. Dollars in the amount of $46.5 million and Korean Won in the amount of approximately KRW 360.6 billion. In addition to the purchase price, the Buyer assumed all severance liabilities relating to the transferred employees, which had a value of approximately $100 million. The Buyer is a wholly owned subsidiary of Magnus, which was established by Alchemist Capital Partners Korea Co., Ltd. and Credian Partners, Inc. On April 20, 2020, Magnus assigned, and the Buyer assumed, all rights and obligations of Magnus under the Business Transfer Agreement. This divestiture of the Foundry Services Group business and Fab 4 was made in connection with the Company’s strategic shift of its operational focus to its standard products business. The Foundry Services Group was historically a reportable segment. The Foundry Services Group business was classified as discontinued operations in the Company’s consolidated statements of operations and excluded from both continuing operations and segment results for the three months ended March 31, 2020. Accordingly, 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 from the Closing Date (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	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 (“U.S. 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 (“ASC”) 270, “Interim Reporting” and, accordingly, do not include all of the information and note disclosures required by U.S. GAAP for complete financial statements, except for the changes below. The results of operations for the three and six months ended June 30, 2021 are not necessarily indicative of the results to be expected for a full year or for any other periods. The consolidated statement of cash flow for the six months ended June 30, 2020 has not been adjusted to separately disclose the cash flow related to discontinued operations, but the material items in the operating and investing activities of the cash flow relating to discontinued operations for the same period is disclosed in Note 3. Unless otherwise stated, information in these notes to consolidated financial statements relates to the Company’s continuing operations and excludes the discontinued operations. The December 31, 2020 balance sheet data was derived from the Company’s audited financial statements, but does not include all disclosures required by U.S. GAAP. The interim consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 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. The Company adopted ASU 2019-12 as of January 1, 2021, and the adoption of ASU 2019-12 did not have a material impact on the Company’s consolidated financial statements.

Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Schedule Of Results From Discontinued Operations

The following table summarizes the results from discontinued operations, net of tax, for the three and six months ended June 30, 2020.


	Three Months Ended			Six Months Ended
	June 30, 2020			June 30, 2020
	(In thousands of U.S. dollars)
Revenues:
Net sales – Foundry Services Group	$	95,779		$	182,058
Net sales – transitional Fab 3 foundry services		(9,873	)		(19,610	)

Total revenues		85,906			162,448
Cost of sales:
Cost of sales – Foundry Services Group		64,869			130,452
Cost of sales – transitional Fab 3 foundry services		(9,873	)		(19,610	)

Total cost of sales		54,996			110,842

Gross profit		30,910			51,606
Operating expenses:
Selling, general and administrative expenses		4,992			10,636
Research and development expenses		6,915			14,318
Restructuring and other charges		589			2,704

Total operating expenses		12,496			27,658

Operating income from discontinued operations		18,414			23,948
Foreign currency gain (loss), net		(23	)		2,074
Others, net		(59	)		48

Income from discontinued operations before income tax expense		18,332			26,070
Income tax expense		935			1,344

Income from discontinued operations, net of tax	$	17,397		$	24,726

Schedule Of Results From Discontinued Operations Alternative Cash Flow Information

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


	Six Months Ended
	June 30, 2020
	(In thousands of U.S. dollars)
Significant non-cash operating activities:
Depreciation and amortization	$	5,365
Provision for severance benefits		6,405
Stock-based compensation		263
Investing activities:
Capital expenditures	$	(4,415	)

Inventories (Tables)

6 Months Ended

Jun. 30, 2021

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories as of June 30, 2021 and December 31, 2020 consist of the following (in thousands):


	June 30, 2021			December 31, 2020
Finished goods	$	7,829		$	6,425
Semi-finished goods and work-in-process		32,524			30,968
Raw materials		8,524			6,526
Materials in-transit		593			1,021
Less: inventory reserve		(8,101	)		(5,901	)

Inventories, net	$	41,369		$	39,039

Changes in Inventory Reserve

Changes in inventory reserve for the three and six months ended June 30, 2021 and 2020 are as follows (in thousands):


	Three Months Ended			Six Months Ended			Three Months Ended			Six Months Ended
	June 30, 2021						June 30, 2020
Beginning balance	$	(6,281	)	$	(5,901	)	$	(4,807	)	$	(5,947	)
Change in reserve
Inventory reserve charged to costs of sales		(3,186	)		(5,350	)		(1,794	)		(3,069	)
Sale of previously reserved inventory		1,343			1,977			747			1,653

		(1,843	)		(3,373	)		(1,047	)		(1,416	)
Write off		28			930			642			1,141
Translation adjustments		(5	)		243			(95	)		221
Reclassified to assets held for sale		—			—			—			694

Ending balance	$	(8,101	)	$	(8,101	)	$	(5,307	)	$	(5,307	)

Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

Summary of Property, Plant and Equipment

Property, plant and equipment as of June 30, 2021 and December 31, 2020 are comprised of the following (in thousands):


	June 30, 2021			December 31, 2020
Buildings and related structures	$	24,184		$	24,882
Machinery and equipment		104,875			106,244
Finance lease right-of-use assets		331			344
Others		44,277			40,116

		173,667			171,586
Less: accumulated depreciation		(93,549	)		(90,370	)
Land		14,603			15,167

Property, plant and equipment, net	$	94,721		$	96,383

Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

Intangible assets as of June 30, 2021 and December 31, 2020 are comprised of the following (in thousands):


	June 30, 2021
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	9,425	$	(6,884	)	$	2,541

Intangible assets	$	9,425	$	(6,884	)	$	2,541


	December 31, 2020
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	9,486	$	(6,759	)	$	2,727

Intangible assets	$	9,486	$	(6,759	)	$	2,727

Leases (Tables)

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

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

Supplemental balance sheets information related to leases as of June 30, 2021 and December 31, 2020 are as follows (in thousands):


Leases	Classification	June 30, 2021		December 31, 2020
Assets
Operating lease	Operating lease right-of-use assets	$	4,520	$	4,632
Finance lease	Property, plant and equipment, net		165		206

Total lease assets		$	4,685	$	4,838

Liabilities
Current
Operating	Operating lease liabilities	$	2,181	$	2,210
Finance	Other current liabilities		69		68
Non-current
Operating	Non-current operating lease liabilities		2,338		2,422
Finance	Other non-current liabilities		112		153

Total lease liabilities		$	4,700	$	4,853

Lease, Cost [Table Text Block]

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


	June 30, 2021			December 31, 2020
Weighted average remaining lease term
Operating leases		2.9 years			3.0 years
Finance leases		2.5 years			3.0 years
Weighted average discount rate
Operating leases		4.71	%		5.55	%
Finance leases		7.75	%		7.75	%

Other Lease Information [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				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Operating lease cost	$	727	$	461	$	1,407	$	929
Finance lease cost
Amortization of right-of-use assets		16		15		33		31
Interest on lease liabilities		3		4		7		9

Total lease cost	$	746	$	480	$	1,447	$	969

Other lease information is as follows (in thousands):


	Three Months Ended				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	727	$	461	$	1,407	$	929
Operating cash flows from finance leases		3		4		7		9
Financing cash flows from finance leases		17		14		33		28

Schedule Of Future Lease Payments [Table Text Block]

The aggregate future lease payments for operating and finance leases as of June 30, 2021 are as follows (in thousands):


	Operating Leases			Finance Leases
Remainder of 2021	$	1,409		$	40
2022		1,574			79
2023		837			80
2024		601			—
2025		414			—

Total future lease payments		4,835			199
Less: Imputed interest		(316	)		(18	)

Present value of future payments	$	4,519		$	181

Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2021

Payables and Accruals [Abstract]

Summary of Accrued Expenses

Accrued expenses as of June 30, 2021 and December 31, 2020 are comprised of the following (in thousands):


	June 30, 2021		December 31, 2020
Payroll, benefits and related taxes, excluding severance benefits	$	8,259	$	10,296
Withholding tax attributable to intercompany interest income		1,144		28
Interest on senior notes		—		1,396
Outside service fees		1,179		755
Restructuring and others		1,611		2,658
Others		827		1,108

Accrued expenses	$	13,020	$	16,241

Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Details of Derivative Contracts

Details of the zero cost collar contracts as of June 30, 2021 are as follows (in thousands):


Date of transaction	Total notional amount		Month of settlement
December 15, 2020	$	30,000	July 2021 to December 2021
February 26, 2021	$	18,000	July 2021 to December 2021
May 13, 2021	$	39,000	January 2022 to September 2022

Details of the zero cost collar contracts as of December 31, 2020 are as follows (in thousands):


Date of transaction	Total notional amount		Month of settlement
July 13, 2020	$	30,000	January 2021 to June 2021
December 15, 2020	$	30,000	July 2021 to December 2021
December 18, 2020	$	18,000	March 2021 to June 2021

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 June 30, 2021 and December 31, 2020 are as follows (in thousands):


Derivatives designated as hedging instruments:		June 30, 2021		December 31, 2020
Asset Derivatives:
Zero cost collars	Other current assets	$	—	$	2,036
Liability Derivatives:
Zero cost collars	Other current liabilities	$	846	$	195
Zero cost collars	Other non-current liabilities	$	66	$	—

Offsetting of Derivative Assets and Liabilities

Offsetting of derivative liabilities as of June 30, 2021 is as follows (in thousands):


As of June 30, 2021	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 June 30, 2021	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	$	912	$	—	$	912	$	—	$	(580)	$	332

Offsetting of derivative assets and liabilities as of December 31, 2020 is as follows (in thousands):


As of December 31, 2020	Gross amounts of recognized assets/liabilities		Gross amounts offset in the balance sheets		Net amounts of assets/liabilities presented in the balance sheets		Gross amounts not offset in the balance sheets				Net amount
As of December 31, 2020	Gross amounts of recognized assets/liabilities		Gross amounts offset in the balance sheets				Financial instruments		Cash collateral pledged		Net amount
Asset Derivatives:
Zero cost collars	$	2,036	$	—	$	2,036	$	—	$	—	$	2,036
Liability Derivatives:
Zero cost collars	$	195	$	—	$	195	$	—	$	—	$	195

Impact of Derivative Instruments on Consolidated Statement of Operations


Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Income Recognized in AOCI on Derivatives				Location/Amount of Gain (Loss) Reclassified from AOCI Into Statement of Operations							Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
	Three Months Ended June 30,						Three Months Ended June 30,							Three Months Ended June 30,
	2021		2020				2021		2020					2021			2020
Zero cost collars	$	432	$	2,204		Net sales	$	475	$	(193	)		Other income, net	$	(58	)	$	55

	$	432	$	2,204			$	475	$	(193	)			$	(58	)	$	55


Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Loss Recognized in AOCI on Derivatives						Location/Amount of Gain (Loss) Reclassified from AOCI Into Statement of Operations							Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
	Six Months Ended June 30,								Six Months Ended June 30,							Six Months Ended June 30,
	2021			2020					2021		2020					2021			2020
Zero cost collars	$	(1,693	)	$	(2,800	)		Net sales	$	986	$	(251	)		Other income, net	$	(144	)	$	172

	$	(1,693	)	$	(2,800	)			$	986	$	(251	)			$	(144	)	$	172

Schedule Of Deposit Assets [Table Text Block]

These cash deposits are recorded as hedge collateral on the consolidated balance sheets. Cash deposits as of June 30, 2021 and December 31, 2020 are as follows (in thousands):


Counterparties	June 30, 2021		December 31, 2020
NFIK	$	3,250	$	3,250
DB		—		1,000
SC		1,000		1,000

Total	$	4,250	$	5,250

- 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.

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+ Details

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

As of June 30, 2021, 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 June 30, 2021		Fair Value Measurement June 30, 2021		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)	$	846	$	846		—	$	846		—
Derivative liabilities (other non-current liabilities)	$	66	$	66		—	$	66		—

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


	Carrying Value December 31, 2020		Fair Value Measurement December 31, 2020		Quoted Prices in Active Markets for Identical Asset / Liability (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Derivative assets (other current assets)	$	2,036	$	2,036		—	$	2,036		—
Liabilities:
Derivative liabilities (other current liabilities)	$	195	$	195		—	$	195		—

Schedule of Fair Value of Long-term Borrowings

Fair Value of Borrowings


	December 31, 2020
	Carrying Value		Fair Value
		(In thousands of U.S. dollars )
Borrowings:
5.0% Exchangeable Senior Notes due March 2021 (Level 2)	$	83,479	$	145,466

- 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

Borrowings (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Components of Long-term Borrowings

There were no borrowings outstanding as of June 30, 2021. As of December 31, 2020, the following table represents the Company’s borrowings (in thousands):


	December 31,
	2020
5.0% Exchangeable Senior Notes due March 2021	$	83,740
Less: unamortized discount and debt issuance costs		(261	)

Total borrowings, net		83,479
Less: current portion of long-term borrowings, net		83,479

Long-term borrowings, net	$	—

- 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.

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+ Details

Accrued Severance Benefits (Tables)

6 Months Ended

Jun. 30, 2021

Postemployment Benefits [Abstract]

Changes in Accrued Severance Benefits

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


	Three Months Ended			Six Months Ended			Three Months Ended			Six Months Ended
	June 30, 2021						June 30, 2020
Beginning balance	$	52,553		$	54,452		$	50,610		$	53,344
Provisions		1,736			3,507			1,755			3,774
Severance payments		(1,343	)		(2,836	)		(1,502	)		(3,454	)
Translation adjustments		159			(2,018	)		922			(1,879	)

		53,105			53,105			51,785			51,785
Less: Cumulative contributions to severance insurance deposit accounts		(13,316	)		(13,316	)		(1,570	)		(1,570	)
The National Pension Fund		(59	)		(59	)		(73	)		(73	)
Group severance insurance plan		(210	)		(210	)		(215	)		(215	)

Accrued severance benefits, net	$	39,520		$	39,520		$	49,927		$	49,927

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 2021	$	78
2022		258
2023		651
2024		932
2025		2,051
2026		2,356
2027 – 2031		19,643

Geographic and Other Information (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Schedule of Operating Segments

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


	Three Months Ended				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Revenues
Standard products business
Display Solutions	$	46,601	$	69,176	$	105,496	$	146,769
Power Solutions		56,667		39,779		110,678		72,922

Total standard products business		103,268		108,955		216,174		219,691
Transitional Fab 3 foundry services		10,608		9,873		20,721		19,610

Total revenues	$	113,876	$	118,828	$	236,895	$	239,301


	Three Months Ended				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Gross Profit
Standard products business	$	32,859	$	32,138	$	66,518	$	61,268
Transitional Fab 3 foundry services		1,111		—		1,834		—

Total gross profit	$	33,970	$	32,138	$	68,352	$	61,268

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

	Three Months Ended				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Korea	$	30,868	$	21,957	$	57,302	$	52,774
Asia Pacific (other than Korea)		69,352		84,210		153,092		161,752
United States		1,363		1,461		2,637		2,170
Europe		1,206		856		2,449		1,827
Others		479		471		694		1,168

Total	$	103,268	$	108,955	$	216,174	$	219,691

Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive income (loss) consists of the following as of June 30, 2021 and December 31, 2020, respectively (in thousands):


	June 30, 2021			December 31, 2020
Foreign currency translation adjustments	$	120		$	2,069
Derivative adjustments		(1,045	)		1,634

Total	$	(925	)	$	3,703

Changes in Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive income (loss) for the three months ended June 30, 2021 and 2020 are as follows (in thousands):


Three Months Ended June 30, 2021	Foreign currency translation adjustments		Derivative adjustments			Total
Beginning balance	$	11	$	(1,002	)	$	(991	)

Other comprehensive income before reclassifications		109		432			541
Amounts reclassified from accumulated other comprehensive income		—		(475	)		(475	)

Net current-period other comprehensive income (loss)		109		(43	)		66

Ending balance	$	120	$	(1,045	)	$	(925	)


Three Months Ended June 30, 2020	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	18,046		$	(3,401	)	$	14,645

Other comprehensive income (loss) before reclassifications		(6,543	)		2,204			(4,339	)
Amounts reclassified from accumulated other comprehensive loss		—			193			193

Net current-period other comprehensive income (loss)		(6,543	)		2,397			(4,146	)

Ending balance	$	11,503		$	(1,004	)	$	10,499

Changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2021 and 2020 are as follows (in thousands):


Six Months Ended June 30, 2021	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	2,069		$	1,634		$	3,703

Other comprehensive loss before reclassifications		(1,949	)		(1,693	)		(3,642	)
Amounts reclassified from accumulated other comprehensive income		—			(986	)		(986	)

Net current-period other comprehensive loss		(1,949	)		(2,679	)		(4,628	)

Ending balance	$	120		$	(1,045	)	$	(925	)


Six Months Ended June 30, 2020	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(4,205	)	$	1,545		$	(2,660	)

Other comprehensive income (loss) before reclassifications		15,708			(2,800	)		12,908
Amounts reclassified from accumulated other comprehensive loss		—			251			251

Net current-period other comprehensive income (loss)		15,708			(2,549	)		13,159

Ending balance	$	11,503		$	(1,004	)	$	10,499

Earnings (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2021

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 earnings (loss) per common share for the three and six months ended June 30, 2021 and 2020:


	Three Months Ended					Six Months Ended
	June 30, 2021			June 30, 2020		June 30, 2021			June 30, 2020
	(In thousands of U.S. dollars, except share data)
Basic earnings (loss) per share
Income (loss) from continuing operations	$	(198	)	$	11,774	$	(7,671	)	$	(19,304	)
Income from discontinued operations, net of tax		—			17,397		—			24,726

Net income (loss)	$	(198	)	$	29,171	$	(7,671	)	$	5,422

Basic weighted average common stock outstanding		46,322,027			35,092,312		43,324,088			34,992,734
Basic earnings (loss) per common share
Continuing operations	$	(0.00	)	$	0.34	$	(0.18	)	$	(0.55	)
Discontinued operations		—			0.50		—			0.71

Total	$	(0.00	)	$	0.84	$	(0.18	)	$	0.16

Diluted earnings (loss) per share
Income (loss) from continuing operations	$	(198	)	$	11,774	$	(7,671	)	$	(19,304	)
Add back: Interest expense on Exchangeable Notes		—			1,425		—			—

Income (loss) from continuing operations allocated to common stockholders	$	(198	)	$	13,199	$	(7,671	)	$	(19,304	)
Income from discontinued operations, net of tax		—			17,397		—			24,726

Net income (loss) allocated to common stockholders	$	(198	)	$	30,596	$	(7,671	)	$	5,422

Basic weighted average common stock outstanding		46,322,027			35,092,312		43,324,088			34,992,734
Net effect of dilutive equity awards		—			1,237,770		—			—
Net effect of assumed conversion of 5.0% Exchangeable Notes to common stock		—			10,144,155		—			—

Diluted weighted average common stock outstanding		46,322,027			46,474,237		43,324,088			34,992,734
Continuing operations	$	(0.00	)	$	0.28	$	(0.18	)	$	(0.55	)
Discontinued operations		—			0.37		—			0.71

Total	$	(0.00	)	$	0.65	$	(0.18	)	$	0.16

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

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

	Three Months Ended				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Options		1,470,421		699,167		1,470,421		2,075,494
Restricted Stock Units		1,012,197		—		1,012,197		1,238,639

Business, Basis of Presentation and Significant Accounting Policies - Additional Information (Detail) - Sep. 01, 2020 $ in Millions, ₩ in Billions	USD ($)	KRW (₩)
Foundry Services Group [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Proceeds from Sale of Business	$ 350.6
MX Foundry Services Group [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Proceeds from Divestiture of Businesses	46.5	₩ 360.6
Liabilities Incurred	$ 100.0

Merger Agreement - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Mar. 25, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Business acquisition, share price	$ 0.01	$ 0.01		$ 0.01
Business acquisition, transaction costs	$ 2,459	$ 12,290
South Dearborn Limited [Member]
Business Acquisition [Line Items]
Business acquisition, share price			$ 0.01
Business acquisition, consideration in cash	$ 29.00	$ 29.00
Business acquisition, transaction costs	$ 2,459	$ 12,290

Discontinued Operations - Schedule Of Results From Discontinued Operations (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Operating Expenses [Abstract]
Income from discontinued operations, net of tax	$ 17,397	$ 24,726
Discontinued Operations [Member]
Revenues:
Total revenues	85,906	162,448
Cost of sales:
Total cost of sales	54,996	110,842
Gross profit	30,910	51,606
Operating Expenses [Abstract]
Selling, general and administrative expenses	4,992	10,636
Research and development expenses	6,915	14,318
Restructuring and other charges	589	2,704
Total operating expenses	12,496	27,658
Operating income from discontinued operations	18,414	23,948
Foreign currency gain (loss), net	(23)	2,074
Others, net	(59)	48
Income from discontinued operations before income tax expense	18,332	26,070
Income tax expense	935	1,344
Income from discontinued operations, net of tax	17,397	24,726
Foundry Services Group [Member] \| Discontinued Operations [Member]
Revenues:
Total revenues	95,779	182,058
Cost of sales:
Total cost of sales	64,869	130,452
Fab Three Foundry Services [Member] \| Discontinued Operations [Member]
Revenues:
Total revenues	(9,873)	(19,610)
Cost of sales:
Total cost of sales	$ (9,873)	$ (19,610)

Discontinued Operations - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
MX Foundry Services Group [Member]
Schedule Of Disposal Group Not Discontinued Operation Income Statement [Line Items]
Gain on sale of foundry services group business					$ 287,117
Foundry Services Group And Fab Four [Member]
Schedule Of Disposal Group Not Discontinued Operation Income Statement [Line Items]
Restructuring and other charges		$ 589		$ 2,704
Foundry Services Group And Fab Four [Member] \| MX Foundry Services Group [Member]
Schedule Of Disposal Group Not Discontinued Operation Income Statement [Line Items]
Accounts receivable from transaction services agreement	$ 11,166		$ 24,790

Discontinued Operations - Schedule Of Results From Discontinued Operations Alternative Cash Flow Information (Detail) - Foundry Services Group And Fab Three Foundry Services [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
Significant non-cash operating activities:
Depreciation and amortization	$ 5,365
Provision for severance benefits	6,405
Stock-based compensation	263
Investing activities:
Capital expenditures	$ (4,415)

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 7,829		$ 6,425
Semi-finished goods and work-in-process	32,524		30,968
Raw materials	8,524		6,526
Materials in-transit	593		1,021
Less: inventory reserve	(8,101)	$ (6,281)	(5,901)	$ (5,307)	$ (4,807)	$ (5,947)
Inventories, net	$ 41,369		$ 39,039

Inventories - Changes in Inventory Reserve (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Inventory Disclosure [Abstract]
Beginning balance	$ (6,281)	$ (4,807)	$ (5,901)	$ (5,947)
Change in reserve
Inventory reserve charged to costs of sales	(3,186)	(1,794)	(5,350)	(3,069)
Sale of previously reserved inventory	1,343	747	1,977	1,653
Change in reserve	(1,843)	(1,047)	(3,373)	(1,416)
Write off	28	642	930	1,141
Translation adjustments	(5)	(95)	243	221
Reclassified to assets held for sale				694
Ending balance	$ (8,101)	$ (5,307)	$ (8,101)	$ (5,307)

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Line Items]
Depreciation expenses	$ 6,626	$ 4,794

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 173,667	$ 171,586
Less: accumulated depreciation	(93,549)	(90,370)
Property, plant and equipment, net	94,721	96,383
Buildings and Related Structures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	24,184	24,882
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	104,875	106,244
Finance Lease Right Of Use Assets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	331	344
Others [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	44,277	40,116
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	$ 14,603	$ 15,167

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 372	$ 320

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible asset, Gross amount	$ 9,425	$ 9,486
Accumulated amortization	(6,884)	(6,759)
Intangible asset, Net amount	2,541	2,727
Intellectual Property Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, Gross amount	9,425	9,486
Accumulated amortization	(6,884)	(6,759)
Intangible asset, Net amount	$ 2,541	$ 2,727

Leases - Additional Information (Detail)	6 Months Ended
Leases - Additional Information (Detail)	Jun. 30, 2021
Maximum [Member]
Lease Agreements Remaining Term of Lease	5 years
Minimum [Member]
Lease Agreements Remaining Term of Lease	1 year

Leases - Supplemental Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets
Operating lease	$ 4,520	$ 4,632
Total lease assets	4,685	4,838
Current
Operating	2,181	2,210
Non-current
Operating	2,338	2,422
Total lease liabilities	4,700	4,853
Operating Lease Right Of Use Assets [Member]
Assets
Operating lease	4,520	4,632
Property, Plant and Equipment, Net [Member]
Assets
Finance lease	165	206
Current Operating Lease Liabilities [Member]
Current
Operating	2,181	2,210
Other Current Liabilities [Member]
Current
Finance	69	68
Non Current Operating Lease Liabilities [Member]
Non-current
Operating	2,338	2,422
Other Noncurrent Liabilities [Member]
Non-current
Finance	$ 112	$ 153

Leases - Components of lease cost (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease cost	$ 727	$ 461	$ 1,407	$ 929
Finance lease cost [Abstract]
Amortization of right-of-use assets	16	15	33	31
Interest on lease liabilities	3	4	7	9
Total lease cost	$ 746	$ 480	$ 1,447	$ 969

Leases - Other lease information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 727	$ 461	$ 1,407	$ 929
Operating cash flows from finance leases	3	4	7	9
Financing cash flows from finance leases	$ 17	$ 14	$ 33	$ 28
Weighted average remaining lease term
Operating leases	2 years 10 months 24 days		2 years 10 months 24 days		3 years
Finance leases	2 years 6 months		2 years 6 months		3 years
Weighted average discount rate
Operating leases	4.71%		4.71%		5.55%
Finance leases	7.75%		7.75%		7.75%

Leases - Aggregate future lease payment (Detail) $ in Thousands	Jun. 30, 2021 USD ($)
Leases [Abstract]
Operating Leases, Remainder of 2021	$ 1,409
Operating Leases, 2022	1,574
Operating Leases, 2023	837
Operating Leases, 2024	601
Operating Leases, 2025	414
Operating Leases, Total future lease payments	4,835
Less: Present value adjustment	(316)
Present value of future payments	4,519
Finance Leases [Abstract]
Finance Leases, Remainder of 2021	40
Finance Leases, 2022	79
Finance Leases, 2023	80
Finance Leases, 2024	0
Finance Leases, 2025	0
Finance Leases, Total future lease payments	199
Less: Present value adjustment	(18)
Present value of future payments	$ 181

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Payroll, benefits and related taxes, excluding severance benefits	$ 8,259	$ 10,296
Withholding tax attributable to intercompany interest income	1,144	28
Interest on senior notes		1,396
Outside service fees	1,179	755
Restructuring and others	1,611	2,658
Others	827	1,108
Accrued expenses	$ 13,020	$ 16,241

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Estimated amount reclassified from accumulated other comprehensive income into income	$ 1,045
Zero Cost Collar and Forward Contracts [Member] \| DB
Derivative [Line Items]
Threshold amount of cash collateral	580
Zero Cost Collar and Forward Contracts [Member] \| Nomura Financial Investment (Korea) Co., Ltd. [Member]
Derivative [Line Items]
Threshold amount of cash collateral	500	$ 0
Termination provisions for cash and cash equivalents	$ 30,000

Derivative Financial Instruments - Details of Derivative Contracts (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Zero Cost Collar One [Member]
Derivative [Line Items]
Date of transaction	Dec. 15, 2020	Jul. 13, 2020
Total notional amount	$ 30,000	$ 30,000
Month of settlement, start	2021-07	2021-01
Month of settlement, end	2021-12	2021-06
Zero Cost Collar Two [Member]
Derivative [Line Items]
Date of transaction	Feb. 26, 2021	Dec. 15, 2020
Total notional amount	$ 18,000	$ 30,000
Month of settlement, start	2021-07	2021-07
Month of settlement, end	2021-12	2021-12
Zero Cost Collar Three [Member]
Derivative [Line Items]
Date of transaction	May 13, 2021	Dec. 18, 2020
Total notional amount	$ 39,000	$ 18,000
Month of settlement, start	2022-01	2021-03
Month of settlement, end	2022-09	2021-06

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	Jun. 30, 2021	Dec. 31, 2020
Asset Derivatives:
Other current assets		$ 2,036
Liability Derivatives:
Other current liabilities	$ 912	195
Other Current Assets [Member]
Asset Derivatives:
Other current assets		2,036
Other Current Liabilities [Member]
Liability Derivatives:
Other current liabilities	846	$ 195
Other Noncurrent Liabilities [Member]
Liability Derivatives:
Other current liabilities	$ 66

Derivative Financial Instruments - Offsetting of Derivative Assets and Liabilities (Details) - Zero Cost Collars [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Asset Derivatives:
Asset Derivatives, Gross amounts of recognized assets/liabilities		$ 2,036
Asset Derivatives, Gross amounts offset in the balance sheets		0
Asset Derivatives, Net amounts of assets/liabilities presented in the balance sheets		2,036
Asset Derivatives, Gross amounts not offset in the balance sheets, Financial instruments		0
Asset Derivatives, Gross amounts not offset in the balance sheets, Cash collateral pledged		0
Asset Derivatives, Net amount		2,036
Liability Derivatives:
Liability Derivatives, Gross amounts of recognized liabilities	$ 912	195
Liability Derivatives, Gross amounts offset in the balance sheets	0	0
Liability Derivatives, Net amounts of liabilities presented in the balance sheets	912	195
Liability Derivatives, Gross amounts not offset in the balance sheets, Financial instruments	0	0
Liability Derivatives, Gross amounts not offset in the balance sheets, Cash collateral pledged	(580)	0
Liability Derivatives, Net amount after master netting	$ 332	$ 195

Derivative Financial Instruments - Impact of Derivative Instruments on Consolidated Statement of Operations (Detail) - Cash Flow Hedging [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative [Line Items]
Amount of Income (Loss) Recognized in AOCI on Derivatives (Effective Portion)	$ 432	$ 2,204	$ (1,693)	$ (2,800)
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)	475	(193)	986	(251)
Amount of Loss Recognized in Statement of Operations on Derivatives (Ineffective Portion)	(58)	55	(144)	172
Zero Cost Collars [Member]
Derivative [Line Items]
Amount of Income (Loss) Recognized in AOCI on Derivatives (Effective Portion)	432	2,204	(1,693)	(2,800)
Zero Cost Collars [Member] \| Other income, net [Member]
Derivative [Line Items]
Amount of Loss Recognized in Statement of Operations on Derivatives (Ineffective Portion)	(58)	55	(144)	172
Zero Cost Collars [Member] \| Net Sales [Member]
Derivative [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)	$ 475	$ (193)	$ 986	$ (251)

Derivative Financial Instruments - Cash deposits (Details) - Zero Cost Collar And Forward Contracts [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Deposit Assets [Line Items]
Margin Deposit Assets	$ 4,250	$ 5,250
DB
Deposit Assets [Line Items]
Margin Deposit Assets	0	1,000
NFIK
Deposit Assets [Line Items]
Margin Deposit Assets	3,250	3,250
SC
Deposit Assets [Line Items]
Margin Deposit Assets	$ 1,000	$ 1,000

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
	Jan. 17, 2017	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Feb. 28, 2019	Dec. 31, 2018
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%	5.00%
Due date	Mar. 01, 2021	Mar. 01, 2021	Mar. 01, 2021
Aggregate principal amount	$ 86,250
Debt issuance costs paid	$ 5,902	$ 5,902
Principal Repurchase Amount Of Exchangeable Notes					$ 920	$ 1,590
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

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Carrying Value [Member] \| Other Current Assets [Member]
Assets:
Derivative assets		$ 2,036
Carrying Value [Member] \| Other Current Liabilities [Member]
Liabilities:
Derivative liabilities	$ 846	195
Carrying Value [Member] \| Other Noncurrent Liabilities [Member]
Liabilities:
Derivative liabilities	66
Estimate of Fair Value Measurement [Member] \| Other Current Assets [Member]
Assets:
Derivative assets		2,036
Estimate of Fair Value Measurement [Member] \| Other Current Liabilities [Member]
Liabilities:
Derivative liabilities	846	195
Estimate of Fair Value Measurement [Member] \| Other Noncurrent Liabilities [Member]
Liabilities:
Derivative liabilities	66
Significant Other Observable Inputs (Level 2) [Member] \| Other Current Assets [Member]
Assets:
Derivative assets		2,036
Significant Other Observable Inputs (Level 2) [Member] \| Other Current Liabilities [Member]
Liabilities:
Derivative liabilities	846	$ 195
Significant Other Observable Inputs (Level 2) [Member] \| Other Noncurrent Liabilities [Member]
Liabilities:
Derivative liabilities	$ 66

Fair Value Measurements - Schedule of Fair Value of Long-term Borrowings (Detail) $ in Thousands	Dec. 31, 2020 USD ($)
Long-term Borrowings:
Carrying amount of senior notes	$ 0
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	83,479
Estimated fair value of senior notes	$ 145,466

Fair Value Measurements - Schedule of Fair Value of Long-term Borrowings (Parenthetical) (Detail) - 5.0% Exchangeable Senior Notes due March 2021 [Member] - Exchangeable Senior Notes [Member]		6 Months Ended	12 Months Ended
	Jan. 17, 2017	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	5.00%	5.00%	5.00%	5.00%
Due date	Mar. 01, 2021	Mar. 01, 2021	Mar. 01, 2021

Borrowings - Additional Information (Detail) - 5.0% Exchangeable Senior Notes due March 2021 [Member] - Exchangeable Senior Notes [Member] - USD ($) $ in Thousands				3 Months Ended	6 Months Ended		12 Months Ended
	Mar. 01, 2021	Jan. 17, 2017	Jan. 17, 2017	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Feb. 28, 2019
Debt Instrument [Line Items]
Aggregate principal amount		$ 86,250	$ 86,250
Interest rate		5.00%	5.00%	5.00%	5.00%	5.00%			5.00%
Aggregate principal amount of senior notes pricing		5.00%
Conversion of converted notes, shares issued	10,144,131
Debt issuance costs paid			$ 5,902		$ 5,902
Interest expense related to the Exchangeable Notes				$ 1,425	$ 958	$ 2,841
Debt Instrument, Repurchased Face Amount								$ 1,590		$ 920
Loss on early extinguishment of long-term borrowings, net							$ 63	$ 234

Borrowings - Components of Long-term Borrowings (Detail) $ in Thousands	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Less: unamortized discount and debt issuance costs	$ (261)
Total borrowings, net	83,479
Less: current portion of long-term borrowings, net	83,479
Long-term borrowings, net	0
Exchangeable Senior Notes [Member] \| 5.0% Exchangeable Senior Notes due March 2021 [Member]
Debt Instrument [Line Items]
Long-term borrowings	$ 83,740

Accrued Severance Benefits - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2021
Percentage of employees eligible for severance benefits	98.00%
Korea [Member] \| Maximum [Member]
Retirement age of employees	60 years

Accrued Severance Benefits - Changes in Accrued Severance Benefits (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Postemployment Benefits [Abstract]
Beginning balance	$ 52,553	$ 50,610	$ 54,452	$ 53,344
Provisions	1,736	1,755	3,507	3,774
Severance payments	(1,343)	(1,502)	(2,836)	(3,454)
Translation adjustments	159	922	(2,018)	(1,879)
Ending balance	53,105	51,785	53,105	51,785
Less: Cumulative contributions to severance insurance deposit accounts	(13,316)	(1,570)	(13,316)	(1,570)
The National Pension Fund	(59)	(73)	(59)	(73)
Group severance insurance plan	(210)	(215)	(210)	(215)
Accrued severance benefits, net	$ 39,520	$ 49,927	$ 39,520	$ 49,927	$ 40,462

Accrued Severance Benefits - Future Benefits Payments to Employees (Detail) $ in Thousands	Jun. 30, 2021 USD ($)
Retirement Benefits [Abstract]
Remainder of 2021	$ 78
2022	258
2023	651
2024	932
2025	2,051
2026	2,356
2027 – 2031	$ 19,643

Foreign Currency Gain (Loss), Net - Additional Information (Detail) $ in Thousands	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)
Foreign Currency Transaction [Abstract]
Exchange rates using first base rate	1,130.0	1,088.0
Intercompany loan balances	$ 387,486	$ 378,852

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Income Tax Contingency [Line Items]
Income tax expenses (benefits)	$ 2,601	$ 678	$ 2,891	$ 1,981
Korean Subsidiary [Member]
Income Tax Contingency [Line Items]
Income tax expenses (benefits)	$ 624
The net operating income carry forwards of the taxable income					60.00%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Geographic and Other Information - Additional Information (Detail)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Customer Concentration Risk [Member] \| Net Sales [Member] \| Top Ten Customers [Member] \| Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	80.00%	88.00%	81.00%	89.00%
Customer Concentration Risk [Member] \| Net Sales [Member] \| Top Customer One [Member] \| Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	40.00%	56.50%	44.60%	54.70%
Customer Concentration Risk [Member] \| Net Sales [Member] \| Top Customer Two [Member] \| Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	11.70%		10.80%	10.70%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Top Customer One [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage			26.90%		45.10%
Geographic Concentration Risk [Member] \| Net Sales [Member] \| Asia Pacific Other Than Korea [Member] \| Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	60.60%		58.60%
Geographic Concentration Risk [Member] \| Net Sales [Member] \| CHINA, HONG KONG \| Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage		82.80%		88.80%
Geographic Concentration Risk [Member] \| Net Sales [Member] \| VIET NAM \| Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	32.00%	13.80%	35.00%	7.70%

Geographic and Other Information - Schedule of Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Total revenues	$ 113,876	$ 118,828	$ 236,895	$ 239,301
Total gross profit	33,970	32,138	68,352	61,268
Standard products business [Member]
Segment Reporting Information [Line Items]
Total revenues	103,268	108,955	216,174	219,691
Total gross profit	32,859	32,138	66,518	61,268
Fab Three Foundry Services [Member]
Segment Reporting Information [Line Items]
Total revenues	10,608	9,873	20,721	19,610
Total gross profit	1,111		1,834
Operating Segments [Member] \| Standard products business [Member]
Segment Reporting Information [Line Items]
Total revenues	103,268	108,955	216,174	219,691
Operating Segments [Member] \| Standard products business [Member] \| Display Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	46,601	69,176	105,496	146,769
Operating Segments [Member] \| Standard products business [Member] \| Power Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 56,667	$ 39,779	$ 110,678	$ 72,922

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

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- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

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+ Details

Geographic and Other Information - Net Sales by Region, Based on Location of Products are Billed (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 113,876	$ 118,828	$ 236,895	$ 239,301
Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	103,268	108,955	216,174	219,691
Standard products business [Member] \| Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	30,868	21,957	57,302	52,774
Standard products business [Member] \| Asia Pacific (Other Than Korea) [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	69,352	84,210	153,092	161,752
Standard products business [Member] \| United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	1,363	1,461	2,637	2,170
Standard products business [Member] \| Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	1,206	856	2,449	1,827
Standard products business [Member] \| Others [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 479	$ 471	$ 694	$ 1,168

- Definition

+ References

+ Details

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Equity [Abstract]
Foreign currency translation adjustments	$ 120	$ 2,069
Derivative adjustments	(1,045)	1,634
Total	$ (925)	$ 3,703

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	$ 420,347	$ (21,156)	$ 345,600	$ (14,981)
Total other comprehensive income (loss)	66	(4,146)	(4,628)	13,159
Balance ending	422,631	6,175	422,631	6,175
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	11	18,046	2,069	(4,205)
Other comprehensive income (loss) before reclassifications	109	(6,543)	(1,949)	15,708
Total other comprehensive income (loss)	109	(6,543)	(1,949)	15,708
Balance ending	120	11,503	120	11,503
Derivative Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(1,002)	(3,401)	1,634	1,545
Other comprehensive income (loss) before reclassifications	432	2,204	(1,693)	(2,800)
Amounts reclassified from accumulated other comprehensive loss	(475)	193	(986)	251
Total other comprehensive income (loss)	(43)	2,397	(2,679)	(2,549)
Balance ending	(1,045)	(1,004)	(1,045)	(1,004)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(991)	14,645	3,703	(2,660)
Other comprehensive income (loss) before reclassifications	541	(4,339)	(3,642)	12,908
Amounts reclassified from accumulated other comprehensive loss	(475)	193	(986)	251
Total other comprehensive income (loss)	66	(4,146)	(4,628)	13,159
Balance ending	$ (925)	$ 10,499	$ (925)	$ 10,499

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Earnings (Loss) Per Share - Additional Information (Detail) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Conversion Of Exchangeable Notes	2,875,982	10,144,155

Earnings (Loss) Per Share - Schedule of Computation of Basic and Diluted Loss Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Basic earnings (loss) per share
Income (loss) from continuing operations	$ (198)	$ 11,774	$ (7,671)	$ (19,304)
Income from discontinued operations, net of tax	0	17,397	0	24,726
Net income (loss)	$ (198)	$ 29,171	$ (7,671)	$ 5,422
Basic weighted average common stock outstanding	46,322,027	35,092,312	43,324,088	34,992,734
Basic earnings (loss) per common share
Continuing operations	$ 0.00	$ 0.34	$ (0.18)	$ (0.55)
Discontinued operations	0	0.50	0	0.71
Total	$ 0.00	$ 0.84	$ (0.18)	$ 0.16
Diluted earnings (loss) per share
Income (loss) from continuing operations	$ (198)	$ 11,774	$ (7,671)	$ (19,304)
Add back: Interest expense on Exchangeable Notes	0	1,425	0	0
Income (loss) from continuing operations allocated to common stockholders	(198)	13,199	(7,671)	(19,304)
Income from discontinued operations, net of tax	0	17,397	0	24,726
Net income (loss) allocated to common stockholders	$ (198)	$ 30,596	$ (7,671)	$ 5,422
Basic weighted average common stock outstanding	46,322,027	35,092,312	43,324,088	34,992,734
Net effect of dilutive equity awards	0	1,237,770	0	0
Net effect of assumed conversion of 5.0% Exchangeable Notes to common stock	0	10,144,155	0	0
Diluted weighted average common stock outstanding	46,322,027	46,474,237	43,324,088	34,992,734
Continuing operations	$ 0.00	$ 0.28	$ (0.18)	$ (0.55)
Discontinued operations	0	0.37	0	0.71
Total	$ 0.00	$ 0.65	$ (0.18)	$ 0.16

Earnings (Loss) Per Share - Schedule of Computation of Basic and Diluted Loss Per Common Share (Parenthetical) (Detail)	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Jan. 17, 2017
5.0% Exchangeable Senior Notes due March 2021 [Member] \| Exchangeable Senior Notes [Member]
Earnings Per Share [Line Items]
Conversion of exchangeable notes to common stock rate	5.00%	5.00%	5.00%	5.00%

Earnings (Loss) Per Share - Schedule of Antidilutive Securities Excluded from the Computation of Loss Per Common Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding units and warrants excluded from computation of diluted loss per share/unit			2,875,982	10,144,155
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	1,470,421	699,167	1,470,421	2,075,494
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	1,012,197	0	1,012,197	1,238,639

Other Charges - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Other Charges [Line Items]
Other charges	$ 5,020	$ 15,436	$ 554
Business acquisition, transaction costs	2,459	12,290
Non recurring professional fees and expenses for treasury and finance initiatives			$ 554
Regulatory Requests Non Recurring Professional Fees And Expenses	$ 2,561	$ 3,146

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Other Current Assets [Member]
Loss Contingencies [Line Items]
Prepayments to suppliers	$ 1,150	$ 5,500