0001193125-22-143665 | 10-Q | XBRL Viewer | Magnachip Semiconductor Corp

Date of transaction

Total notional amount

Month of settlement

May 13, 2021

January 2022 to September 2022

August 13, 2021

January 2022 to December 2022

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Leases - Components of lease cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease cost	$ 569	$ 680
Finance lease cost [Abstract]
Amortization of right-of-use assets	16	17
Interest on lease liabilities	2	4
Total lease cost	$ 587	$ 701

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure	14. Stockholders’ Equity Accelerated Stock Repurchase Program On December 21, 2021, the Board of Directors authorized the Company to repurchase up to $75,000 thousand of the Company’s outstanding common stock and the Company entered into an accelerated stock repurchase agreement (the “ASR Agreement”) with JPMorgan Chase Bank, National Association (“JPM”) to repurchase an aggregate of $37,500 thousand of the Company’s common stock. Pursuant to the terms of the ASR Agreement dated December 21, 2021, the Company paid to JPM $37,500 thousand in cash and received an initial delivery of 994,695 shares of its common stock in the open market for an aggregate purchase price of $20,073 thousand and a price per share of $20.18 on December 22, 2021. As of December 31, 2021, the Company accounted for the remaining portion of the ASR Agreement as a forward contract indexed to its own common stock and recorded $17,427 thousand in additional paid-in capital in stockholders’ equity in its consolidated balance sheets. In March 2022, the previously announced repurchase of $37,500 thousand of the Company’s common stock was completed pursuant to the ASR Agreement, and as a result, the Company additionally received 1,031,576 shares of its common stock for an aggregate purchase price of $ 17,217 thousand at a price per share of $16.69, which was reclassified as a treasury stock from additional paid-in capital in stockholder’s equity in its consolidated balance sheets.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Inventories - Changes in Inventory Reserve (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Inventory Disclosure [Abstract]
Beginning balance	$ (5,730)	$ (5,901)
Change in reserve
Inventory reserve charged to costs of sales	(1,607)	(2,164)
Sale of previously reserved inventory	1,452	634
Change in reserve	(155)	(1,530)
Write off	211	902
Translation adjustments	119	248
Ending balance	$ (5,555)	$ (6,281)

Accrued Severance Benefits - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022
Percentage of employees eligible for severance benefits	98.00%
Korea [Member] \| Maximum [Member]
Korea's mandatory retirement age	60 years

Geographic and Other Information (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Schedule of Operating Segments

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


	Three Months Ended
	March 31, 2022		March 31, 2021
Revenues
Standard products business

Display Solutions	$	29,185	$	58,895
Power Solutions		64,825		54,011

Total standard products business	$	94,010	$	112,906
Transitional Fab 3 foundry services		10,083		10,113

Total revenues	$	104,093	$	123,019


	Three Months Ended
	March 31, 2022		March 31, 2021
Gross Profit

Standard products business	$	37,930	$	33,659
Transitional Fab 3 foundry services		1,066		723

Total gross profit	$	38,996	$	34,382

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

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


	Three Months Ended
	March 31, 2022		March 31, 2021

Korea	$	31,030	$	26,434
Asia Pacific (other than Korea)		58,260		83,740
United States		2,864		1,274
Europe		1,856		1,243
Others		—		215

Total	$	94,010	$	112,906

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible asset, Gross amount	$ 9,180	$ 9,312
Accumulated amortization	(6,977)	(6,935)
Intangible asset, Net amount	2,203	2,377
Intellectual Property Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, Gross amount	9,180	9,312
Accumulated amortization	(6,977)	(6,935)
Intangible asset, Net amount	$ 2,203	$ 2,377

Fair Value Measurements

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

8. Fair Value Measurements

Fair Value of Financial Instruments

As of March 31, 2022, 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 March 31, 2022		Fair Value Measurement March 31, 2022		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 non-current assets)	$	94	$	94		—	$	94		—
Liabilities:
Derivative liabilities (other current liabilities)	$	2,421	$	2,421		—	$	2,421		—
Derivative liabilities (other non-current liabilities)	$	149	$	149		—	$	149		—

As of December 31, 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 December 31, 2021		Fair Value Measurement December 31, 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)	$	2,020	$	2,020		—	$	2,020		—

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.

- 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

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	11. 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 months ended March 31, 2022, the Company recorded an income tax expense of $3,483 thousand, primarily relate d to its primary operating entity in Korea based on the estimated taxable income for the respective period. For the three months ended March 31, 2021, the Company recorded an income tax expense of $290 thousand, primarily attributable to interest on intercompany loan balances, which was offset in part by the tax benefit recognized on the loss for the first quarter of 2021 from the Company’s Korean subsidiary.

- 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.

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+ Details

Foreign Currency Loss, Net	3 Months Ended
Foreign Currency Loss, Net	Mar. 31, 2022
Foreign Currency [Abstract]
Foreign Currency Loss, Net	10. Foreign Currency Loss, Net Net foreign currency gain or loss includes non-cash translation gain or loss associated with intercompany balances. A substantial portion of the Company’s net foreign currency gain or loss is non-cash translation gain or loss associated with intercompany long-term loans to the Company’s Korean subsidiary. The loans are denominated in U.S. dollars and are affected by changes in the exchange rate between the Korean won and the U.S. dollar. As of March 31, 2022 and December 31, 2021, the outstanding intercompany loan balances including accrued interest between the Korean subsidiary and the Dutch subsidiary were $ 348,477 thousand and $344,411 thousand, respectively. The Korean won to U.S. dollar exchange rates were 1,210.8:1 and 1,185.5:1 using the first base rate as of March 31, 2022 and December 31, 2021, respectively, as quoted by the KEB Hana Bank.

Earnings (Loss) Per Share - Schedule of Antidilutive Securities Excluded from the Computation of Loss Per Common Share (Detail) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding units and warrants excluded from computation of diluted loss per share/unit		5,783,919
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	130,000	1,471,421
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	0	1,109,572

Accrued Severance Benefits (Tables)

3 Months Ended

Mar. 31, 2022

Postemployment Benefits [Abstract]

Changes in Accrued Severance Benefits

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


	Three Months Ended
	March 31, 2022			March 31, 2021

Beginning balance	$	51,567		$	54,452
Provisions		1,670			1,771
Severance payments		(1,389	)		(1,493	)
Translation adjustments		(1,077	)		(2,177	)

		50,771			52,553
Less: Cumulative contributions to severance insurance deposit accounts		(17,954	)		(13,212	)
The National Pension Fund		(50	)		(61	)
Group severance insurance plan		(195	)		(210	)

Accrued severance benefits, net	$	32,572		$	39,070

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 2022	$	253
2023		631
2024		923
2025		1,505
2026		2,183
2027		1,746
2028 – 2032		20,679

Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
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, computing, industrial and automotive applications. 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, computing, servers, automotive, and industrial applications. On September 1, 2020, 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”. Following the consummation of the sale, and for up to three years, the Company is expected to provide transitional foundry services associated with its fabrication facility located in Gumi, Korea, known as “Fab 3, at an agreed upon cost plus mark-up (the “Transitional Fab 3 Foundry Services”).
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 months ended March 31, 2022 are not necessarily indicative of the results to be expected for a full year or for any other periods. The December 31, 2021 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, 2021. There have been no material changes to the Company’s significant accounting policies as of and for the three months ended March 31, 2022 as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)” (“ASU 2020-06”), which updates various codification topics to simplify the accounting guidance for certain financial instruments with characteristics of liabilities and equity, with a specific focus on convertible instruments and the derivative scope exception for contracts in an entity’s own equity and amends the diluted EPS computation for these instruments. The Company adopted ASU 2020-06 as of January 1, 2022, and the adoption of ASU 2020-06 did not have an impact on the Company’s consolidated financial statements. In May 2021, the FASB issued ASU No. 2021-04, “Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50)”, Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options” (“ASU 2021-04”), ASU 2021-04 clarifies the accounting for modifications or exchanges of freestanding equity-classified written call options so that the transaction should be treated as an exchange of the original instrument for a new instrument. The Company adopted ASU 2021-04 as of January 1, 2022, and the adoption of ASU 2021-04 did not have an impact on the Company’s consolidated financial statements.

Accrued Severance Benefits - Changes in Accrued Severance Benefits (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Postemployment Benefits [Abstract]
Beginning balance	$ 51,567	$ 54,452
Provisions	1,670	1,771
Severance payments	(1,389)	(1,493)
Translation adjustments	(1,077)	(2,177)
Ending balance	50,771	52,553
Less: Cumulative contributions to severance insurance deposit accounts	(17,954)	(13,212)
The National Pension Fund	(50)	(61)
Group severance insurance plan	(195)	(210)
Accrued severance benefits, net	$ 32,572	$ 39,070	$ 33,064

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 21, 2021	Mar. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated Share Repurchases, Settlement (Payment) or Receipt	$ 37,500	$ 37,500	$ 37,500
Accelerated share repurchase program adjustment shares		994,695
Aggregate purchase price of shares		$ 20,073
Additional Paid-In Capital [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated stock repurchase			17,217	$ 17,427
Treasury Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated stock repurchase			$ (17,217)
Treasury Stock [Member] \| Reclassified As A Treasury Stock From Additional Paid In Capital [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated share repurchase program adjustment shares			1,031,576
Aggregate purchase price of shares	$ 17,217		$ 17,217
Sale of stock issue price per share	$ 16.69
Accelerated Stock Repurchase Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchase Program, Authorized Amount		75,000
Accelerated stock repurchase		$ 37,500

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Details of Derivative Contracts

Details of the zero cost collar contracts as of March 31, 2022 are as follows (in thousands):


Date of transaction	Total notional amount		Month of settlement


May 13, 2021	$	24,000	April 2022 to September 2022
August 13, 2021	$	39,000	April 2022 to December 2022
January 04, 2022	$	39,000	October 2022 to June 2023
March 07, 2022	$	24,000	July 2023 to December 2023

Details of the zero cost collar contracts as of December 31, 2021 are as follows (in thousands):

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

The fair values of the Company’s outstanding zero cost collar contracts recorded as assets and liabilities as of March 31, 2022 and December 31, 2021 are as follows (in thousands):


Derivatives designated as hedging instruments:		March 31, 2022		December 31, 2021
Asset Derivatives:

Zero cost collars	Other non-current assets	$	94	$	—
Liability Derivatives:
Zero cost collars	Other current liabilities	$	2,421	$	2,020
Zero cost collars	Other non-current liabilities	$	149	$	—

Offsetting of Derivative Assets and Liabilities

Offsetting of derivative assets and liabilities as of March 31, 2022 is as follows (in thousands):


As of March 31, 2022	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 March 31, 2022	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	$	94	$	—	$	94	$	—	$	—	$	94
Liability Derivatives:
Zero cost collars	$	2,570	$	—	$	2,570	$	—	$	(3,060)	$	(490)

Offsetting of Derivative Liabilities

Offsetting of derivative liabilities as of December 31, 2021 is as follows (in thousands):


As of December 31, 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 December 31, 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	$	2,020	$	—	$	2,020	$	—	$	(2,060)	$	(40)

Impact of Derivative Instruments on Consolidated Statement of Operations

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the three months ended March 31, 2022 and 2021 (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 Loss Recognized in Statement of Operations on Derivatives
	Three Months Ended March 31,								Three Months Ended March 31,							Three Months Ended March 31,
	2022			2021					2022			2021				2022			2021

Zero cost collars	$	(1,264	)	$	(2,125	)		Net sales	$	(762	)	$	511		Other income, net	$	(129	)	$	(86)

	$	(1,264	)	$	(2,125	)			$	(762	)	$	511			$	(129	)	$	(86)

Summary Of Cash Deposits

These cash deposits are recorded as hedge collateral on the consolidated balance sheets. Cash deposits as of March 31, 2022 and December 31, 2021 are as follows (in thousands):


Counterparties	March 31, 2022		December 31, 2021

SC	$	1,000	$	1,000

Total	$	1,000	$	1,000

- 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

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
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	56,225,441	55,905,320
Common stock, shares outstanding	44,894,385	45,659,304
Treasury stock, shares	11,331,056	10,246,016

Geographic and Other Information - Net Sales by Region, Based on Location of Products are Billed (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 104,093	$ 123,019
Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	94,010	112,906
Standard products business [Member] \| Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	31,030	26,434
Standard products business [Member] \| Asia Pacific (Other Than Korea) [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	58,260	83,740
Standard products business [Member] \| United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	2,864	1,274
Standard products business [Member] \| Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	1,856	1,243
Standard products business [Member] \| Others [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 0	$ 215

- 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).

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+ Details

Leases - Aggregate future lease payment (Detail) $ in Thousands	Mar. 31, 2022 USD ($)
Leases [Abstract]
Operating Leases, Remainder of 2022	$ 1,837
Operating Leases, 2023	1,079
Operating Leases, 2024	607
Operating Leases, 2025	393
Operating Leases, Total future lease payments	3,916
Less: Present value adjustment	(197)
Present value of future payments	3,719
Finance Leases [Abstract]
Finance Leases, Remainder of 2022	56
Finance Leases, 2023	74
Finance Leases, 2024	0
Finance Leases, 2025	0
Finance Leases, Total future lease payments	130
Less: Present value adjustment	(9)
Present value of future payments	$ 121

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
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
Stock-based compensation	$ 1,646		1,646
Exchange of exchangeable senior notes into common stock	83,740	10,144,131
Exchange of exchangeable senior notes	$ 83,740	$ 101	83,639
Exercise of stock options	2,538	$ 2	2,536
Exercise of stock options, Shares		175,760
Settlement of restricted stock units		$ 2	(2)
Settlement of restricted stock units, Shares		205,630
Acquisition of treasury stock	(1,010)				(1,010)
Acquisition of treasury stock, Shares		(51,455)
Other comprehensive loss, net	(4,694)					(4,694)
Net income (loss)	(7,473)			(7,473)
Balance ending at Mar. 31, 2021	420,347	$ 555	250,829	279,361	(109,407)	(991)
Balance, Shares ending at Mar. 31, 2021		46,257,413
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
Accelerated stock repurchase			17,427
Balance ending at Dec. 31, 2021	$ 452,762	$ 559	241,197	343,542	(130,306)	(2,230)
Balance, Shares ending at Dec. 31, 2021	45,659,304	45,659,304
Stock-based compensation	$ 1,638		1,638
Exercise of stock options	1,781	$ 1	1,780
Exercise of stock options, Shares		151,326
Settlement of restricted stock units		$ 2	(2)
Settlement of restricted stock units, Shares		168,795
Acquisition of treasury stock	(1,000)		0		(1,000)
Acquisition of treasury stock, Shares		(53,464)
Accelerated stock repurchase			17,217		(17,217)
Accelerated stock repurchase, Shares		(1,031,576)
Other comprehensive loss, net	(3,547)					(3,547)
Net income (loss)	9,528			9,528
Balance ending at Mar. 31, 2022	$ 461,162	$ 562	$ 261,830	$ 353,070	$ (148,523)	$ (5,777)
Balance, Shares ending at Mar. 31, 2022	44,894,385	44,894,385

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events The Terminated Merger The Merger Agreement was previously terminated on December 20, 2021 pursuant to the Termination Agreement following the Company’s receipt of a portion of the Termination Fee equal to $51,000 thousand from Parent and the issuance of a standby letter of credit, which secured a deferred portion of the Termination Fee equal to $19,200 thousand from Parent due on or before March 31, 2022. In connection therewith, the Company, Parent and Wise Road entered into a first amendment to the Termination Agreement, dated April 4, 2022, pursuant to which Parent agreed to pay the Company $19,200 thousand, of which $14,400 thousand has been paid on April 4, 2022 and payment of the remaining $4,800 thousand (which amount is secured by a new standby letter of credit, dated April 4, 2022), will be paid by Parent on or before June 30, 2022. Derivative contracts In April 2022, the Company and NFIK entered into derivative contracts of zero cost collars for the period from April 2023 to December 2023. The total notional amounts are $33,000 thousand. In April 2022, the Company and SC entered into derivative contracts of zero cost collars for the period from October 2022 to March 2023. The total notional amounts are $18,000 thousand.

Inventories (Tables)

3 Months Ended

Mar. 31, 2022

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories as of March 31, 2022 and December 31, 2021 consist of the following (in thousands):


	March 31, 2022			December 31, 2021

Finished goods	$	5,591		$	9,594
Semi-finished goods and work-in-process		25,119			25,968
Raw materials		9,839			9,443
Materials in-transit		1,953			95
Less: inventory reserve		(5,555	)		(5,730	)

Inventories, net	$	36,947		$	39,370

Changes in Inventory Reserve

Changes in inventory reserve for the three months ended March 31, 2022 and 2021 are as follows (in thousands):


	Three Months Ended
	March 31, 2022			March 31, 2021

Beginning balance	$	(5,730	)	$	(5,901	)
Change in reserve
Inventory reserve charged to costs of sales		(1,607	)		(2,164	)
Sale of previously reserved inventory		1,452			634

		(155	)		(1,530	)
Write off		211			902
Translation adjustments		119			248

Ending balance	$	(5,555	)	$	(6,281	)

Accrued Expenses

3 Months Ended

Mar. 31, 2022

Payables and Accruals [Abstract]

Accrued Expenses

6. Accrued Expenses

Accrued expenses as of March 31, 2022 and December 31, 2021 are comprised of the following (in thousands):


	March 31, 2022		December 31, 2021

Payroll, benefits and related taxes, excluding severance benefits	$	8,854	$	9,548
Withholding tax attributable to intercompany interest income		2,405		1,950
Outside service fees		1,829		1,088
Merger-related costs		6,325		7,035
Others		1,160		450

Accrued expenses	$	20,573	$	20,071

Leases - Additional Information (Detail)	3 Months Ended
Leases - Additional Information (Detail)	Mar. 31, 2022
Maximum [Member]
Lease Agreements Remaining Term of Lease	4 years
Minimum [Member]
Lease Agreements Remaining Term of Lease	1 year

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 284,921	$ 279,547
Accounts receivable, net	51,208	50,954
Inventories, net	36,947	39,370
Other receivables (Notes 16 and 18)	26,121	25,895
Prepaid expenses	9,124	7,675
Hedge collateral (Note 7)	4,060	3,060
Other current assets (Note 17)	9,262	2,619
Total current assets	421,643	409,120
Property, plant and equipment, net	102,675	107,882
Operating lease right-of-use assets	3,719	4,275
Intangible assets, net	2,203	2,377
Long-term prepaid expenses	6,771	8,243
Deferred income taxes	40,246	41,095
Other non-current assets	10,608	10,662
Total assets	587,865	583,654
Current liabilities
Accounts payable	37,566	37,593
Other accounts payable	7,707	6,289
Accrued expenses (Note 6)	20,573	20,071
Accrued income taxes	9,361	11,823
Operating lease liabilities	2,223	2,323
Other current liabilities	6,989	7,382
Total current liabilities	84,419	85,481
Accrued severance benefits, net	32,572	33,064
Non-current operating lease liabilities	1,496	1,952
Other non-current liabilities	8,216	10,395
Total liabilities	126,703	130,892
Commitments and contingencies (Note 17)
Stockholders' equity
Common stock, $0.01 par value, 150,000,000 shares authorized, 56,225,441 shares issued and 44,894,385 outstanding at March 31, 2022 and 55,905,320 shares issued and 45,659,304 outstanding at December 31, 2021	562	559
Additional paid-in capital	261,830	241,197
Retained earnings	353,070	343,542
Treasury stock, 11,331,056 shares at March 31, 2022 and 10,246,016 shares at December 31, 2021, respectively	(148,523)	(130,306)
Accumulated other comprehensive loss	(5,777)	(2,230)
Total stockholders' equity	461,162	452,762
Total liabilities and stockholders' equity	$ 587,865	$ 583,654

Geographic and Other Information - Schedule of Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 104,093	$ 123,019
Total gross profit	38,996	34,382
Standard products business [Member]
Segment Reporting Information [Line Items]
Total revenues	94,010	112,906
Total gross profit	37,930	33,659
Fab Three Foundry Services [Member]
Segment Reporting Information [Line Items]
Total revenues	10,083	10,113
Total gross profit	1,066	723
Operating Segments [Member] \| Standard products business [Member]
Segment Reporting Information [Line Items]
Total revenues	94,010	112,906
Operating Segments [Member] \| Standard products business [Member] \| Display Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	29,185	58,895
Operating Segments [Member] \| Standard products business [Member] \| Power Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 64,825	$ 54,011

- Definition

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

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Accrued Expenses (Tables)

3 Months Ended

Mar. 31, 2022

Payables and Accruals [Abstract]

Summary of Accrued Expenses

Accrued expenses as of March 31, 2022 and December 31, 2021 are comprised of the following (in thousands):


	March 31, 2022		December 31, 2021

Payroll, benefits and related taxes, excluding severance benefits	$	8,854	$	9,548
Withholding tax attributable to intercompany interest income		2,405		1,950
Outside service fees		1,829		1,088
Merger-related costs		6,325		7,035
Others		1,160		450

Accrued expenses	$	20,573	$	20,071

Derivative Financial Instruments - Offsetting of Derivative Assets and Liabilities (Details) - Zero Cost Collars [Member] - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Asset Derivatives:
Asset Derivatives, Gross amounts of recognized assets/liabilities	$ 94
Asset Derivatives, Gross amounts offset in the balance sheets	0
Asset Derivatives, Net amounts of assets/liabilities presented in the balance sheets	94
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	94
Liability Derivatives:
Liability Derivatives, Gross amounts of recognized liabilities	2,570	$ 2,020
Liability Derivatives, Gross amounts offset in the balance sheets	0	0
Liability Derivatives, Net amounts of liabilities presented in the balance sheets	2,570	2,020
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	(3,060)	(2,060)
Liability Derivatives, Net amount after master netting	$ (490)	$ (40)

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Other Current Assets [Member]
Loss Contingencies [Line Items]
Prepayments to suppliers	$ 8,001	$ 1,708

Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Accumulated Other Comprehensive Loss

13. Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consists of the following as of March 31, 2022 and December 31, 2021, respectively (in thousands):


	March 31, 2022			December 31, 2021

Foreign currency translation adjustments	$	(3,815	)	$	(770	)
Derivative adjustments		(1,962	)		(1,460	)

Total	$	(5,777	)	$	(2,230	)

Changes in accumulated other comprehensive loss for the three months ended March 31, 2022 and 2021 are as follows (in thousands):


Three Months Ended March 31, 2022	Foreign currency translation adjustments			Derivative adjustments			Total

Beginning balance	$	(770	)	$	(1,460	)	$	(2,230	)

Other comprehensive loss before reclassifications		(3,045	)		(1,264	)		(4,309	)
Amounts reclassified from accumulated other comprehensive loss		—			762			762

Net current-period other comprehensive loss		(3,045	)		(502	)		(3,547	)

Ending balance	$	(3,815	)	$	(1,962	)	$	(5,777	)


Three Months Ended March 31, 2021	Foreign currency translation adjustments			Derivative adjustments			Total

Beginning balance	$	2,069		$	1,634		$	3,703

Other comprehensive loss before reclassifications		(2,058	)		(2,125	)		(4,183	)
Amounts reclassified from accumulated other comprehensive income		—			(511	)		(511	)

Net current-period other comprehensive loss		(2,058	)		(2,636	)		(4,694	)

Ending balance	$	11		$	(1,002	)	$	(991	)

Property, Plant and Equipment

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

3. Property, Plant and Equipment

Property, plant and equipment as of March 31, 2022 and December 31, 2021 are comprised of the following (in thousands):


	March 31, 2022			December 31, 2021

Buildings and related structures	$	24,003		$	24,273
Machinery and equipment		103,386			105,300
Finance lease right-of-use assets		309			316
Others		32,682			32,396

		160,380			162,285
Less: accumulated depreciation		(95,839	)		(94,119	)
Land		13,608			13,898
Construction in progress		24,526			25,818

Property, plant and equipment, net	$	102,675		$	107,882

Aggregate depreciation expenses totaled $3,706 thousand and $3,262 thousand for the three months ended March 31, 2022 and 2021, respectively.

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Line Items]
Depreciation expenses	$ 3,706	$ 3,262

Leases

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

5. Leases

The Company has operating and finance leases for buildings and other assets such as vehicles and office equipment. The Company’s leases have remaining lease terms ranging from 1 year to 4 years.

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

Supplemental balance sheets information related to leases as of March 31, 2022 and December 31, 2021 are as follows (in thousands):


Leases	Classification	March 31, 2022		December 31, 2021
Assets

Operating lease	Operating lease right-of-use assets	$	3,719	$	4,275
Finance lease	Property, plant and equipment, net		108		126

Total lease assets		$	3,827	$	4,401

Liabilities
Current
Operating	Operating lease liabilities	$	2,223	$	2,323
Finance	Other current liabilities		67		68
Non-current
Operating	Non-current operating lease liabilities		1,496		1,952
Finance	Other non-current liabilities		54		73

Total lease liabilities		$	3,840	$	4,416

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


	March 31, 2022			December 31, 2021

Weighted average remaining lease term

Operating leases		2.3 years			2.4 years
Finance leases		1.8 years			2.0 years
Weighted average discount rate
Operating leases		4.12	%		4.20	%
Finance leases		7.75	%		7.75	%

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


	Three Months Ended
	March 31, 2022		March 31, 2021



Operating lease cost	$	569	$	680
Finance lease cost
Amortization of right-of-use assets		16		17
Interest on lease liabilities		2		4

Total lease cost	$	587	$	701

The above table does not include an immaterial cost of short-term leases for the three months ended March 31, 2022 and 2021.

Other lease information is as follows (in thousands):


	Three Months Ended
	March 31, 2022		March 31, 2021
Cash paid for amounts included in the measurement of lease liabilities

Operating cash flows from operating leases	$	569	$	680
Operating cash flows from finance leases		2		4
Financing cash flows from finance leases		16		16

The aggregate future lease payments for operating and finance leases as of March 31, 2022 are as follows (in thousands):


	Operating Leases			Finance Leases

Remainder of 2022	$	1,837		$	56
2023		1,079			74
2024		607			—
2025		393			—

Total future lease payments		3,916			130
Less: Imputed interest		(197	)		(9	)

Present value of future payments	$	3,719		$	121

Foreign Currency Loss, Net - Additional Information (Detail) $ in Thousands	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Foreign Currency Transaction [Abstract]
Exchange rates using first base rate	1,210.8	1,185.5
Intercompany loan balances	$ 348,477	$ 344,411

Leases - Other lease information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 569	$ 680
Operating cash flows from finance leases	2	4
Financing cash flows from finance leases	$ 16	$ 16
Weighted average remaining lease term
Operating leases	2 years 3 months 18 days		2 years 4 months 24 days
Finance leases	1 year 9 months 18 days		2 years
Weighted average discount rate
Operating leases	4.12%		4.20%
Finance leases	7.75%		7.75%

Merger Agreement	3 Months Ended
Merger Agreement	Mar. 31, 2022
Business Combinations [Abstract]
Merger Agreement	16. 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 (“Wise Road”), 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 (as amended, the “Merger Agreement”), providing for, among other things and subject to the terms and conditions thereof, the merger of Merger Sub with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly owned subsidiary of Parent. The closing of the Merger was subject to certain conditions, including clearance by the Committee on Foreign Investment in the United States (“CFIUS”) under the Defense Production Act of 1950, as amended. The Company and Parent were advised that CFIUS clearance of the Merger would not be forthcoming and received permission from CFIUS to withdraw their joint filing. In connection therewith, the Company and Parent entered into a Termination and Settlement Agreement, dated December 13, 2021 (the “Termination Agreement”), pursuant to which Parent agreed to pay $70,200 thousand (the “Termination Fee”) to the Company on the terms specified in the Termination Agreement in satisfaction of Parent’s obligation to pay a termination fee in connection with the termination of the Merger Agreement. On December 20, 2021, the Merger Agreement was terminated pursuant to the Termination Agreement after the Company’s receipt of a fee of $51,000 thousand from Parent and a standby letter of credit, which secures a deferred fee of $19,200 thousand from Parent due on or before March 31, 2022. As of March 31, 2022, of the Termination Fee, $19,200 thousand deferred fee was recorded as other receivables. For the three months ended March 31, 2021, the Company incurred $9,831 thousand of professional fees and certain transaction related-expenses incurred in connection with the Merger, which were recognized in merger-related costs in the consolidated statements of operations.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net income (loss)	$ 9,528	$ (7,473)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization	3,891	3,448
Provision for severance benefits	1,670	1,771
Amortization of debt issuance costs and original issue discount		261
Loss on foreign currency, net	6,380	14,873
Provision for inventory reserves	145	1,504
Stock-based compensation	1,638	1,646
Other, net	161	154
Changes in operating assets and liabilities
Accounts receivable, net	(1,213)	9,794
Inventories	1,456	6,071
Other receivables	667	(1,438)
Other current assets	(6,829)	5,427
Accounts payable	538	(7,701)
Other accounts payable	(702)	1,570
Accrued expenses	187	2,393
Accrued income taxes	(2,346)	(10,700)
Other current liabilities	(711)	1,087
Other non-current liabilities	(73)	18
Payment of severance benefits	(1,389)	(1,493)
Other, net	(178)	12
Net cash provided by operating activities	12,820	21,224
Cash flows from investing activities
Proceeds from settlement of hedge collateral	1,829
Payment of hedge collateral	(2,891)
Purchase of property, plant and equipment	(944)	(1,082)
Payment for intellectual property registration	(59)	(171)
Other, net	(77)	(111)
Net cash used in investing activities	(2,142)	(1,364)
Cash flows from financing activities
Proceeds from exercise of stock options	1,781	2,538
Acquisition of treasury stock	(830)	(1,540)
Repayment of financing related to water treatment facility arrangement	(134)	(144)
Repayment of principal portion of finance lease liabilities	(16)	(16)
Net cash used in financing activities	801	838
Effect of exchange rates on cash and cash equivalents	(6,105)	(10,444)
Net increase in cash and cash equivalents	5,374	10,254
Cash and cash equivalents at beginning of period	279,547	279,940
Cash and cash equivalents at end of period	284,921	290,194
Supplemental cash flow information
Cash paid for interest		2,094
Cash paid for income taxes	5,421	9,633
Non-cash investing activities
Property, plant and equipment additions in other accounts payable	524	$ 622
Exchange of exchangeable senior notes into common stock		83,740
Acquisition of treasury stock to satisfy the tax withholding obligations in connection with equity-based compensation	$ (996)	$ (114)

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

7. 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 March 31, 2022 are as follows (in thousands):


Date of transaction	Total notional amount		Month of settlement


May 13, 2021	$	24,000	April 2022 to September 2022
August 13, 2021	$	39,000	April 2022 to December 2022
January 04, 2022	$	39,000	October 2022 to June 2023
March 07, 2022	$	24,000	July 2023 to December 2023

Details of the zero cost collar contracts as of December 31, 2021 are as follows (in thousands):

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

The fair values of the Company’s outstanding zero cost collar contracts recorded as assets and liabilities as of March 31, 2022 and December 31, 2021 are as follows (in thousands):


Derivatives designated as hedging instruments:		March 31, 2022		December 31, 2021
Asset Derivatives:

Zero cost collars	Other non-current assets	$	94	$	—
Liability Derivatives:
Zero cost collars	Other current liabilities	$	2,421	$	2,020
Zero cost collars	Other non-current liabilities	$	149	$	—

Offsetting of derivative assets and liabilities as of March 31, 2022 is as follows (in thousands):


As of March 31, 2022	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 March 31, 2022	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	$	94	$	—	$	94	$	—	$	—	$	94
Liability Derivatives:
Zero cost collars	$	2,570	$	—	$	2,570	$	—	$	(3,060)	$	(490)

Offsetting of derivative liabilities as of December 31, 2021 is as follows (in thousands):


As of December 31, 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 December 31, 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	$	2,020	$	—	$	2,020	$	—	$	(2,060)	$	(40)

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

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the three months ended March 31, 2022 and 2021 (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 Loss Recognized in Statement of Operations on Derivatives
	Three Months Ended March 31,								Three Months Ended March 31,							Three Months Ended March 31,
	2022			2021					2022			2021				2022			2021

Zero cost collars	$	(1,264	)	$	(2,125	)		Net sales	$	(762	)	$	511		Other income, net	$	(129	)	$	(86)

	$	(1,264	)	$	(2,125	)			$	(762	)	$	511			$	(129	)	$	(86)

As of March 31, 2022, the amount expected to be reclassified from accumulated other comprehensive loss into loss within the next 12 months is $1,907 thousand.

The Company set aside cash deposits to the counterparties, Nomura Financial Investment (Korea) Co., Ltd. (“NFIK”) 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 March 31, 2022 and December 31, 2021 are as follows (in thousands):


Counterparties	March 31, 2022		December 31, 2021

SC	$	1,000	$	1,000

Total	$	1,000	$	1,000

The Company is required to deposit additional cash collateral with NFIK and SC for any exposure in excess of $500 thousand. As of March 31, 2022, $2,360 thousand and $700 thousand of additional cash collateral w

required by NFIK and SC, respectively, and recorded as hedge collateral on the consolidated balance sheet. As of December 31, 2021, $760 thousand and $1,300 thousand of additional cash collateral w

required by NFIK and SC, respectively, and recorded as hedge collateral on the consolidated balance sheet.

These zero cost collar contracts may be terminated by the counterparties 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.

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Estimated amount reclassified from accumulated other comprehensive income into income	$ 1,907
Nomura Financial Investment (Korea) Co., Ltd. [Member]
Derivative [Line Items]
Threshold amount of cash collateral		$ 760
Standard Chartered Bank Korea Limited [Member]
Derivative [Line Items]
Threshold amount of cash collateral		$ 1,300
Zero Cost Collar and Forward Contracts [Member] \| Nomura Financial Investment (Korea) Co., Ltd. [Member]
Derivative [Line Items]
Threshold amount of cash collateral	500
Cash collateral for credit exposure in derivatives	2,360
Termination provisions for cash and cash equivalents	30,000
Zero Cost Collar and Forward Contracts [Member] \| Standard Chartered Bank Korea Limited [Member]
Derivative [Line Items]
Cash collateral for credit exposure in derivatives	$ 700

Derivative Financial Instruments - Impact of Derivative Instruments on Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)	$ 762	$ (511)
Zero Cost Collars [Member] \| Cash Flow Hedging [Member]
Derivative [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion)	(1,264)	(2,125)
Zero Cost Collars [Member] \| Cash Flow Hedging [Member] \| Other income, net [Member]
Derivative [Line Items]
Amount of Loss Recognized in Statement of Operations on Derivatives (Ineffective Portion)	(129)	(86)
Total Revenue	(129)	(86)
Zero Cost Collars [Member] \| Cash Flow Hedging [Member] \| Net Sales [Member]
Derivative [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)	(762)	511
Total Revenue	$ (762)	$ 511

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 32
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 4
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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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
	Mar. 31, 2022	Mar. 31, 2021
Basic Earnings (Loss) per Share
Net income (loss)	$ 9,528	$ (7,473)
Basic weighted average common stock outstanding	45,603,208	40,292,838
Basic earnings (loss) per share	$ 0.21	$ (0.19)
Diluted earnings (loss) per share
Basic weighted average common stock outstanding	45,603,208	40,292,838
Net effect of dilutive equity awards	1,090,086	0
Diluted weighted average common stock outstanding	46,693,294	40,292,838
Diluted earnings (loss) per share	$ 0.20	$ (0.19)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- 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

Accrued Severance Benefits

3 Months Ended

Mar. 31, 2022

Postemployment Benefits [Abstract]

Accrued Severance Benefits

9. Accrued Severance Benefits

The majority of accrued severance benefits are for employees in the Company’s Korean subsidiary. Pursuant to the Employee Retirement Benefit Security Act of Korea, eligible employees and executive officers with one or more years of service are entitled to severance benefits upon the termination of their employment based on their length of service and rate of pay. As of March 31, 2022, 98% of all employees of the Company were eligible for severance benefits.

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


	Three Months Ended
	March 31, 2022			March 31, 2021

Beginning balance	$	51,567		$	54,452
Provisions		1,670			1,771
Severance payments		(1,389	)		(1,493	)
Translation adjustments		(1,077	)		(2,177	)

		50,771			52,553
Less: Cumulative contributions to severance insurance deposit accounts		(17,954	)		(13,212	)
The National Pension Fund		(50	)		(61	)
Group severance insurance plan		(195	)		(210	)

Accrued severance benefits, net	$	32,572		$	39,070

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 2022	$	253
2023		631
2024		923
2025		1,505
2026		2,183
2027		1,746
2028 – 2032		20,679

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.

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Income Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	$ 452,762	$ 345,600
Total other comprehensive loss	(3,547)	(4,694)
Balance ending	461,162	420,347
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(770)	2,069
Other comprehensive income (loss) before reclassifications	(3,045)	(2,058)
Total other comprehensive loss	(3,045)	(2,058)
Balance ending	(3,815)	11
Derivative Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(1,460)	1,634
Other comprehensive income (loss) before reclassifications	(1,264)	(2,125)
Amounts reclassified from accumulated other comprehensive loss	762	(511)
Total other comprehensive loss	(502)	(2,636)
Balance ending	(1,962)	(1,002)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(2,230)	3,703
Other comprehensive income (loss) before reclassifications	(4,309)	(4,183)
Amounts reclassified from accumulated other comprehensive loss	762	(511)
Total other comprehensive loss	(3,547)	(4,694)
Balance ending	$ (5,777)	$ (991)

- 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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.5-02(31))
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

4. Intangible Assets

Intangible assets as of March 31, 2022 and December 31, 2021 are comprised of the following (in thousands):


	March 31, 2022
	Gross amount		Accumulated amortization			Net amount

Intellectual property assets	$	9,180	$	(6,977	)	$	2,203

Intangible assets	$	9,180	$	(6,977	)	$	2,203


	December 31, 2021
	Gross amount		Accumulated amortization			Net amount

Intellectual property assets	$	9,312	$	(6,935	)	$	2,377

Intangible assets	$	9,312	$	(6,935	)	$	2,377

Aggregate amortization expenses for intangible assets totaled $185 thousand and $186 thousand for the three months ended March 31, 2022 and 2021, respectively.

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Payroll, benefits and related taxes, excluding severance benefits	$ 8,854	$ 9,548
Withholding tax attributable to intercompany interest income	2,405	1,950
Outside service fees	1,829	1,088
Merger-related costs	6,325	7,035
Others	1,160	450
Accrued expenses	$ 20,573	$ 20,071

Subsequent Events - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 04, 2022	Dec. 20, 2021	Apr. 30, 2022
Proceed From Merger Termination		$ 51,000
Deferred Costs		$ 19,200
Subsequent Event [Member] \| Termination Agreement [Member]
Termination agreement amount payable	$ 19,200
Termination agreement amount Paid	14,400
Termination agreement Outstanding amount	$ 4,800
Termination agreement expiration date	Jun. 30, 2022
Subsequent Event [Member] \| Nomura Financial Investment Co Ltd [Member]
Derivative, Notional Amount			$ 33,000
Subsequent Event [Member] \| Standard Chartered Bank Korea Limited [Member]
Derivative, Notional Amount			$ 18,000

Leases - Supplemental Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Operating lease	$ 3,719	$ 4,275
Total lease assets	3,827	4,401
Current
Operating	2,223	2,323
Non-current
Operating	1,496	1,952
Total lease liabilities	3,840	4,416
Operating Lease Right Of Use Assets [Member]
Assets
Operating lease	3,719	4,275
Property, Plant and Equipment, Net [Member]
Assets
Finance lease	$ 108	$ 126
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Current Operating Lease Liabilities [Member]
Current
Operating	$ 2,223	$ 2,323
Other Current Liabilities [Member]
Current
Finance	$ 67	$ 68
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Non Current Operating Lease Liabilities [Member]
Non-current
Operating	$ 1,496	$ 1,952
Other Noncurrent Liabilities [Member]
Non-current
Finance	$ 54	$ 73
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. Commitments and Contingencies Advances to Suppliers The Company, from time to time, may make advances in form of prepayments or deposits to suppliers, including external foundries, to meet its planned production. The Company recorded advances of $8,001 thousand and $1,708 thousand as other current assets as of March 31, 2022 and December 31, 2021, 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. The extent to which the COVID-19 pandemic impacts the Company’s business, results of operations and financial condition will depend on future developments, which, despite progress in vaccination efforts, are highly uncertain and cannot be predicted with confidence, including the duration of the outbreak, new information that may emerge concerning the severity of the COVID-19 pandemic, such as new strains of the virus, including the Delta and Omicron variants and any future variants that may emerge, which may impact rates of infection and vaccination efforts, developments or perceptions regarding the safety of vaccines and the extent and effectiveness of actions to contain the COVID-19 pandemic or treat its impact, including vaccination campaigns and lockdown measures, among others. In addition, recurrences or additional waves of COVID-19 cases could cause other widespread or more severe impacts depending on where infection rates are highest. The Company cannot presently predict the scope and severity of any potential business shutdowns or disruptions, but if the Company or any of its customers and suppliers were to experience prolonged business shutdowns or other disruptions, its ability to conduct its business could be materially and negatively affected, which could have a material adverse impact on its business, results of operations and financial condition. 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 ongoing and uncertain global health crisis and the resulting global economic consequences.

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Carrying Value [Member] \| Other Noncurrent Assets [Member]
Assets:
Derivative assets	$ 94
Carrying Value [Member] \| Other Current Liabilities [Member]
Liabilities:
Derivative liabilities	2,421	$ 2,020
Carrying Value [Member] \| Other Noncurrent Liabilities [Member]
Liabilities:
Derivative liabilities	149
Estimate of Fair Value Measurement [Member] \| Other Noncurrent Assets [Member]
Assets:
Derivative assets	94
Estimate of Fair Value Measurement [Member] \| Other Current Liabilities [Member]
Liabilities:
Derivative liabilities	2,421	2,020
Estimate of Fair Value Measurement [Member] \| Other Noncurrent Liabilities [Member]
Liabilities:
Derivative liabilities	149
Significant Other Observable Inputs (Level 2) [Member] \| Other Noncurrent Assets [Member]
Assets:
Derivative assets	94
Significant Other Observable Inputs (Level 2) [Member] \| Other Current Liabilities [Member]
Liabilities:
Derivative liabilities	2,421	$ 2,020
Significant Other Observable Inputs (Level 2) [Member] \| Other Noncurrent Liabilities [Member]
Liabilities:
Derivative liabilities	$ 149

Earnings (Loss) Per Share - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022 BusinessLines $ / shares	Mar. 31, 2021 shares	Dec. 31, 2021 $ / shares
Conversion Of Exchangeable Notes \| shares		5,783,919
Common stock, par value	$ 0.01		$ 0.01
Redemption of rights per right \| BusinessLines	0.001
Common Stock, Voting Rights	50
Percentage of assets or earning power of the Company	50.00%
Acquiring Person [Member]
Business Acquisition, Percentage of Voting Interests Acquired	12.50%
Passive Institutional Investor [Member]
Business Acquisition, Percentage of Voting Interests Acquired	20.00%
Series A1 [Member]
Common stock, par value	$ 0.01
Sale of stock issue price per share	$ 80

Geographic and Other Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Geographic and Other Information

12. Geographic and Other Information

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


	Three Months Ended
	March 31, 2022		March 31, 2021
Revenues
Standard products business

Display Solutions	$	29,185	$	58,895
Power Solutions		64,825		54,011

Total standard products business	$	94,010	$	112,906
Transitional Fab 3 foundry services		10,083		10,113

Total revenues	$	104,093	$	123,019


	Three Months Ended
	March 31, 2022		March 31, 2021
Gross Profit

Standard products business	$	37,930	$	33,659
Transitional Fab 3 foundry services		1,066		723

Total gross profit	$	38,996	$	34,382


	Three Months Ended
	March 31, 2022		March 31, 2021

Korea	$	31,030	$	26,434
Asia Pacific (other than Korea)		58,260		83,740
United States		2,864		1,274
Europe		1,856		1,243
Others		—		215

Total	$	94,010	$	112,906

For the three months ended March 31, 2022 and 2021, 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

together

represented 71.1% and 57.1%, respectively, and net sales—standard products business in Vietnam represented 14.4% and 37.4%, 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 72% and 82% for the three months ended March 31, 2022 and 2021, respectively.

For the three months ended March 31, 2022, the Company had two customers that represented 25.5% and 12.9% of its net sales – standard products business

, respectively.

For the three months ended March 31, 2021, the Company had two customers that represented 48.8% and 10.0% of its net sales – standard products business

, respectively.

As of March 31, 2022, two customers accounted for 17.0% and 16.7% of accounts receivable, respectively. As of December 31, 2021, two customers accounted for 25.6% and 18.6% 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
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-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
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Leases (Tables)

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Supplemental Balance Sheet Information Related To Leases

Supplemental balance sheets information related to leases as of March 31, 2022 and December 31, 2021 are as follows (in thousands):


Leases	Classification	March 31, 2022		December 31, 2021
Assets

Operating lease	Operating lease right-of-use assets	$	3,719	$	4,275
Finance lease	Property, plant and equipment, net		108		126

Total lease assets		$	3,827	$	4,401

Liabilities
Current
Operating	Operating lease liabilities	$	2,223	$	2,323
Finance	Other current liabilities		67		68
Non-current
Operating	Non-current operating lease liabilities		1,496		1,952
Finance	Other non-current liabilities		54		73

Total lease liabilities		$	3,840	$	4,416

Lease, Cost

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


	March 31, 2022			December 31, 2021

Weighted average remaining lease term

Operating leases		2.3 years			2.4 years
Finance leases		1.8 years			2.0 years
Weighted average discount rate
Operating leases		4.12	%		4.20	%
Finance leases		7.75	%		7.75	%

Other Lease Information

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


	Three Months Ended
	March 31, 2022		March 31, 2021



Operating lease cost	$	569	$	680
Finance lease cost
Amortization of right-of-use assets		16		17
Interest on lease liabilities		2		4

Total lease cost	$	587	$	701

The above table does not include an immaterial cost of short-term leases for the three months ended March 31, 2022 and 2021.

Other lease information is as follows (in thousands):


	Three Months Ended
	March 31, 2022		March 31, 2021
Cash paid for amounts included in the measurement of lease liabilities

Operating cash flows from operating leases	$	569	$	680
Operating cash flows from finance leases		2		4
Financing cash flows from finance leases		16		16

Schedule Of Future Lease Payments

The aggregate future lease payments for operating and finance leases as of March 31, 2022 are as follows (in thousands):


	Operating Leases			Finance Leases

Remainder of 2022	$	1,837		$	56
2023		1,079			74
2024		607			—
2025		393			—

Total future lease payments		3,916			130
Less: Imputed interest		(197	)		(9	)

Present value of future payments	$	3,719		$	121

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 160,380	$ 162,285
Less: accumulated depreciation	(95,839)	(94,119)
Land	13,608	13,898
Construction in progress	24,526	25,818
Property, plant and equipment, net	102,675	107,882
Buildings and Related Structures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	24,003	24,273
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	103,386	105,300
Finance Lease Right Of Use Assets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	309	316
Others [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 32,682	$ 32,396

Derivative Financial Instruments - Details of Derivative Contracts (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Zero Cost Collar One [Member]
Derivative [Line Items]
Date of transaction	May 13, 2021	May 13, 2021
Total notional amount	$ 24,000	$ 39,000
Month of settlement, start	2022-04	2022-01
Month of settlement, end	2022-09	2022-09
Zero Cost Collar Two [Member]
Derivative [Line Items]
Date of transaction	Aug. 13, 2021	Aug. 13, 2021
Total notional amount	$ 39,000	$ 48,000
Month of settlement, start	2022-04	2022-01
Month of settlement, end	2022-12	2022-12
Zero Cost Collar Three [Member]
Derivative [Line Items]
Date of transaction	Jan. 04, 2022
Total notional amount	$ 39,000
Month of settlement, start	2022-10
Month of settlement, end	2023-06
Zero Cost Collar Four [Member]
Derivative [Line Items]
Date of transaction	Mar. 07, 2022
Total notional amount	$ 24,000
Month of settlement, start	2023-07
Month of settlement, end	2023-12

Geographic and Other Information - Additional Information (Detail)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
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	72.00%	82.00%
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	25.50%	48.80%
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	12.90%	10.00%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Top Customer One [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	17.00%		25.60%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Top Customer Two [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	16.70%		18.60%
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	71.10%
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		57.10%
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	14.40%	37.40%

Derivative Financial Instruments - Cash deposits (Details) - Zero Cost Collar And Forward Contracts [Member] - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Deposit Assets [Line Items]
Margin Deposit Assets	$ 1,000	$ 1,000
SC
Deposit Assets [Line Items]
Margin Deposit Assets	$ 1,000	$ 1,000

Inventories

3 Months Ended

Mar. 31, 2022

Inventory Disclosure [Abstract]

Inventories

2. Inventories

Inventories as of March 31, 2022 and December 31, 2021 consist of the following (in thousands):


	March 31, 2022			December 31, 2021

Finished goods	$	5,591		$	9,594
Semi-finished goods and work-in-process		25,119			25,968
Raw materials		9,839			9,443
Materials in-transit		1,953			95
Less: inventory reserve		(5,555	)		(5,730	)

Inventories, net	$	36,947		$	39,370

Changes in inventory reserve for the three months ended March 31, 2022 and 2021 are as follows (in thousands):


	Three Months Ended
	March 31, 2022			March 31, 2021

Beginning balance	$	(5,730	)	$	(5,901	)
Change in reserve
Inventory reserve charged to costs of sales		(1,607	)		(2,164	)
Sale of previously reserved inventory		1,452			634

		(155	)		(1,530	)
Write off		211			902
Translation adjustments		119			248

Ending balance	$	(5,555	)	$	(6,281	)

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.

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net sales	$ 104,093	$ 123,019
Cost of sales	65,097	88,637
Gross profit	38,996	34,382
Operating expenses:
Selling, general and administrative expenses	14,163	12,634
Research and development expenses	11,954	13,423
Merger-related costs		9,831
Other charges		585
Total operating expenses	26,117	36,473
Operating income (loss)	12,879	(2,091)
Interest expense	(111)	(1,041)
Foreign currency loss, net	(690)	(4,671)
Other income, net	933	620
Income (loss) before income tax expense	13,011	(7,183)
Income tax expense	3,483	290
Net income (loss)	$ 9,528	$ (7,473)
Basic earnings (loss) per common share—	$ 0.21	$ (0.19)
Diluted earnings (loss) per common share—	$ 0.20	$ (0.19)
Weighted average number of shares—
Basic	45,603,208	40,292,838
Diluted	46,693,294	40,292,838
Standard products business [Member]
Net sales	$ 94,010	$ 112,906
Cost of sales	56,080	79,247
Gross profit	37,930	33,659
Fab Three Foundry Services [Member]
Net sales	10,083	10,113
Cost of sales	9,017	9,390
Gross profit	$ 1,066	$ 723

Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

15. Earnings (Loss) Per Share

The following table illustrates the computation of basic and diluted earnings (loss) per common share for the three months ended March 31, 2022 and 2021:


	Three Months Ended
	March 31, 2022		March 31, 2021
	(In thousands of U.S. dollars, except share data)

Basic Earnings (Loss) per Share

Net income (loss)	$	9,528	$	(7,473	)

Basic weighted average common stock outstanding		45,603,208		40,292,838
Basic earnings (loss) per share	$	0.21	$	(0.19	)
Diluted Earnings (Loss) per Share
Net income (loss)	$	9,528	$	(7,473	)

Basic weighted average common stock outstanding		45,603,208		40,292,838
Net effect of dilutive equity awards		1,090,086		—

Diluted weighted average common stock outstanding		46,693,294		40,292,838
Diluted earnings (loss) per share	$	0.20	$	(0.19	)

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


	Three Months Ended
	March 31, 2022		March 31, 2021
Options		130,000		1,471,421
Restricted Stock Units		—		1,109,572

For the three months ended March 31, 2021, 5,783,919 shares of potential common stock from the assumed conversion of Exchangeable Notes were excluded from the computation of diluted loss per share as the effect were anti-dilutive for the period.

Rights Plan

The Company entered into a Rights Agreement, dated as of December 13, 2021, between the Company and American Stock Transfer & Trust Company, LLC, as rights agent (the “Rights Agreement”), and the Board of Directors of the Company authorized and declared a dividend of one preferred stock purchase right (a “Right” and collectively, the “Rights”) for each share of the Company’s common stock, par value $0.01 per share, outstanding at the close of business on December 23, 2021. Each Right, once exercisable, will entitle the registered holder to purchase from the Company one

one-thousandth

of a share of Series

A-1

Junior Participating Preferred Stock, par value $0.01 per share, at a purchase price of $80, subject to adjustment (the “Purchase Price”). The Rights are not presently exercisable and remain attached to the shares of common stock unless and until the occurrence of the earlier of the following (the “Distribution Date”): (i) the tenth day after the public announcement or disclosure by the Company or any person or group of affiliated or associated persons that any person or group of affiliated or associated persons has become an “Acquiring Person” by obtaining beneficial ownership of 12.5% (or 20% in the case of a “passive institutional investor,” which is defined generally as any person who has reported beneficial ownership of shares of common stock on Schedule 13G under the Securities Exchange Act of 1934) or more of the Company’s outstanding common stock, subject to certain exceptions; or (ii) the tenth business day (or such later date as the Company’s Board of Directors may designate before a person or group of affiliated or associated persons becomes an Acquiring Person) after (and not including) the commencement of, or first public announcement of the intent of any person to commence, a tender or exchange offer by any person or group of affiliated or associated persons, which would, if consummated, result in such person or group becoming an Acquiring Person. The Board of Directors may redeem all of the Rights for $0.001 per Right at any time before any person or group of affiliated or associated persons becomes an Acquiring Person. In addition, at any time on or after any person or group of affiliated or associated persons becomes an Acquiring Person (but before any person or group of affiliated or associated persons becomes the owner of 50% or more of the Company’s outstanding common stock), the Board of Directors may exchange all or part of the Rights (other than the Rights beneficially owned by the Acquiring Person and certain affiliated persons) for shares of common stock at an exchange ratio of one share of common stock per Right. The Rights will expire at the close of business on December 12, 2022, unless redeemed or exchanged prior to that time.

If any person or group of affiliated or associated persons becomes an Acquiring Person, then, after the Distribution Date, each Right (other than Rights beneficially owned by the Acquiring Person and certain affiliated persons or transferees thereof) will entitle the holder to purchase, for the Purchase Price, a number of shares of common stock having a market value of twice the Purchase Price. Alternatively, if, after any person or group of affiliated or associated persons becomes an Acquiring Person, (1) the Company is involved in a merger or other business combination in which the Company is not the surviving corporation or its common stock is changed into or exchanged for other securities or assets; or (2) the Company or one or more of its subsidiaries sell or otherwise transfer assets or earning power aggregating more than 50% of the assets or earning power of the Company and its subsidiaries, taken as a whole, then each Right (other than Rights beneficially owned by the Acquiring Person and certain affiliated persons) will entitle the holder to purchase, for the Purchase Price, a number of shares of common stock of the other party to such business combination or sale (or in certain circumstances, an affiliate) having a market value of twice the Purchase Price.

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

As of March 31, 2022, 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 March 31, 2022		Fair Value Measurement March 31, 2022		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 non-current assets)	$	94	$	94		—	$	94		—
Liabilities:
Derivative liabilities (other current liabilities)	$	2,421	$	2,421		—	$	2,421		—
Derivative liabilities (other non-current liabilities)	$	149	$	149		—	$	149		—

As of December 31, 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 December 31, 2021		Fair Value Measurement December 31, 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)	$	2,020	$	2,020		—	$	2,020		—

- 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

Earnings (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2022

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 months ended March 31, 2022 and 2021:


	Three Months Ended
	March 31, 2022		March 31, 2021
	(In thousands of U.S. dollars, except share data)

Basic Earnings (Loss) per Share

Net income (loss)	$	9,528	$	(7,473	)

Basic weighted average common stock outstanding		45,603,208		40,292,838
Basic earnings (loss) per share	$	0.21	$	(0.19	)
Diluted Earnings (Loss) per Share
Net income (loss)	$	9,528	$	(7,473	)

Basic weighted average common stock outstanding		45,603,208		40,292,838
Net effect of dilutive equity awards		1,090,086		—

Diluted weighted average common stock outstanding		46,693,294		40,292,838
Diluted earnings (loss) per share	$	0.20	$	(0.19	)

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

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


	Three Months Ended
	March 31, 2022		March 31, 2021
Options		130,000		1,471,421
Restricted Stock Units		—		1,109,572

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 185	$ 186

Merger Agreement - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Dec. 20, 2021	Mar. 31, 2021	Dec. 31, 2021	Mar. 31, 2022
Business Acquisition [Line Items]
Merger Related Costs Income Net		$ 9,831
Merger Termination Fee			$ 70,200
Proceed from termination cost	$ 51,000
Secures Deferred Merger Termination Fee	$ 19,200
Other Receivable [Member]
Business Acquisition [Line Items]
Deferred Merger Termination Fee As Other Receivable				$ 19,200

Derivative Financial Instruments - Fair Values of Outstanding Zero Cost Collar and Forward Contracts Recorded as Assets and Liabilities (Detail) - Zero Cost Collars [Member] - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Asset Derivatives:
Other non current assets	$ 94
Liability Derivatives:
Other non current liabilities	2,570	$ 2,020
Other Noncurrent Assets [Member]
Asset Derivatives:
Other non current assets	94	0
Other Current Liabilities [Member]
Liability Derivatives:
Other non current liabilities	2,421	2,020
Other Noncurrent Liabilities [Member]
Liability Derivatives:
Other non current liabilities	$ 149	$ 0

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Foreign currency translation adjustments	$ (3,815)	$ (770)
Derivative adjustments	(1,962)	(1,460)
Total	$ (5,777)	$ (2,230)

- 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

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 5,591	$ 9,594
Semi-finished goods and work-in-process	25,119	25,968
Raw materials	9,839	9,443
Materials in-transit	1,953	95
Less: inventory reserve	(5,555)	(5,730)	$ (6,281)	$ (5,901)
Inventories, net	$ 36,947	$ 39,370

Business, Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
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, computing, industrial and automotive applications. 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, computing, servers, automotive, and industrial applications. On September 1, 2020, 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”. Following the consummation of the sale, and for up to three years, the Company is expected to provide transitional foundry services associated with its fabrication facility located in Gumi, Korea, known as “Fab 3, at an agreed upon cost plus mark-up (the “Transitional Fab 3 Foundry Services”). 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 months ended March 31, 2022 are not necessarily indicative of the results to be expected for a full year or for any other periods. The December 31, 2021 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, 2021. There have been no material changes to the Company’s significant accounting policies as of and for the three months ended March 31, 2022 as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Recently Adopted Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)” (“ASU 2020-06”), which updates various codification topics to simplify the accounting guidance for certain financial instruments with characteristics of liabilities and equity, with a specific focus on convertible instruments and the derivative scope exception for contracts in an entity’s own equity and amends the diluted EPS computation for these instruments. The Company adopted ASU 2020-06 as of January 1, 2022, and the adoption of ASU 2020-06 did not have an impact on the Company’s consolidated financial statements. In May 2021, the FASB issued ASU No. 2021-04, “Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50)”, Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options” (“ASU 2021-04”), ASU 2021-04 clarifies the accounting for modifications or exchanges of freestanding equity-classified written call options so that the transaction should be treated as an exchange of the original instrument for a new instrument. The Company adopted ASU 2021-04 as of January 1, 2022, and the adoption of ASU 2021-04 did not have an impact on the Company’s consolidated financial statements.

Accrued Severance Benefits - Future Benefits Payments to Employees (Detail) $ in Thousands	Mar. 31, 2022 USD ($)
Postemployment Benefits [Abstract]
Remainder of 2022	$ 253
2023	631
2024	923
2025	1,505
2026	2,183
2027	1,746
2028 – 2032	$ 20,679

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 9,528	$ (7,473)
Other comprehensive loss
Foreign currency translation adjustments	(3,045)	(2,058)
Derivative adjustments
Fair valuation of derivatives	(1,264)	(2,125)
Reclassification adjustment for loss (gain) on derivatives included in net income (loss)	762	(511)
Total other comprehensive loss	(3,547)	(4,694)
Total comprehensive income (loss)	$ 5,981	$ (12,167)

- Definition

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

+ References

+ Details

Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consists of the following as of March 31, 2022 and December 31, 2021, respectively (in thousands):


	March 31, 2022			December 31, 2021

Foreign currency translation adjustments	$	(3,815	)	$	(770	)
Derivative adjustments		(1,962	)		(1,460	)

Total	$	(5,777	)	$	(2,230	)

Changes in Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss for the three months ended March 31, 2022 and 2021 are as follows (in thousands):


Three Months Ended March 31, 2022	Foreign currency translation adjustments			Derivative adjustments			Total

Beginning balance	$	(770	)	$	(1,460	)	$	(2,230	)

Other comprehensive loss before reclassifications		(3,045	)		(1,264	)		(4,309	)
Amounts reclassified from accumulated other comprehensive loss		—			762			762

Net current-period other comprehensive loss		(3,045	)		(502	)		(3,547	)

Ending balance	$	(3,815	)	$	(1,962	)	$	(5,777	)


Three Months Ended March 31, 2021	Foreign currency translation adjustments			Derivative adjustments			Total

Beginning balance	$	2,069		$	1,634		$	3,703

Other comprehensive loss before reclassifications		(2,058	)		(2,125	)		(4,183	)
Amounts reclassified from accumulated other comprehensive income		—			(511	)		(511	)

Net current-period other comprehensive loss		(2,058	)		(2,636	)		(4,694	)

Ending balance	$	11		$	(1,002	)	$	(991	)

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Contingency [Line Items]
Income tax expenses (benefits)	$ 3,483	$ 290

- Definition

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

+ References + Details

Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

Intangible assets as of March 31, 2022 and December 31, 2021 are comprised of the following (in thousands):


	March 31, 2022
	Gross amount		Accumulated amortization			Net amount

Intellectual property assets	$	9,180	$	(6,977	)	$	2,203

Intangible assets	$	9,180	$	(6,977	)	$	2,203


	December 31, 2021
	Gross amount		Accumulated amortization			Net amount

Intellectual property assets	$	9,312	$	(6,935	)	$	2,377

Intangible assets	$	9,312	$	(6,935	)	$	2,377

Property, Plant and Equipment (Tables)

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Summary of Property, Plant and Equipment

Property, plant and equipment as of March 31, 2022 and December 31, 2021 are comprised of the following (in thousands):


	March 31, 2022			December 31, 2021

Buildings and related structures	$	24,003		$	24,273
Machinery and equipment		103,386			105,300
Finance lease right-of-use assets		309			316
Others		32,682			32,396

		160,380			162,285
Less: accumulated depreciation		(95,839	)		(94,119	)
Land		13,608			13,898
Construction in progress		24,526			25,818

Property, plant and equipment, net	$	102,675		$	107,882