0001193125-23-206234 | 10-Q | XBRL Viewer | Magnachip Semiconductor Corp

Accrued Severance Benefits (Tables)

6 Months Ended

Jun. 30, 2023

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


	Three Months Ended			Six Months Ended			Three Months Ended			Six Months Ended

	June 30, 2023						June 30, 2022

Beginning balance	$	48,574		$	48,496		$	50,771		$	51,567
Provisions		1,761			4,091			1,570			3,240
Severance payments		(4,857	)		(5,728	)		(1,545	)		(2,934	)
Translation adjustments		(357	)		(1,738	)		(3,210	)		(4,287	)

		45,121			45,121			47,586			47,586
Less: Cumulative contributions to severance insurance deposit accounts		(24,816	)		(24,816	)		(16,894	)		(16,894	)
The National Pension Fund		(30	)		(30	)		(44	)		(44	)
Group severance insurance plan		(152	)		(152	)		(182	)		(182	)

Accrued severance benefits, net	$	20,123		$	20,123		$	30,466		$	30,466

Future Benefits Payments to Employees

Fair Value Measurements

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

7. Fair Value Measurements

Fair Value of Financial Instruments

As of June 30, 2023, the following table represents the Company’s liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands):


	Carrying Value June 30, 2023		Fair Value Measurement June 30, 2023		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)	$	1,776	$	1,776		—	$	1,776		—

As of December 31, 2022, 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, 2022		Fair Value Measurement December 31, 2022		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)	$	2,015	$	2,015		—	$	2,015		—

s 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

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net income (loss)	$ (25,417)	$ 6,188
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization	8,502	7,602
Provision for severance benefits	4,091	3,240
Loss on foreign currency, net	9,117	29,183
Provision for inventory reserves	1,121	5,282
Stock-based compensation	3,212	3,626
Other, net	450	712
Changes in operating assets and liabilities
Accounts receivable, net	(342)	(12,377)
Inventories	4,911	(5,486)
Other receivables	4,407	11,640
Other current assets	395	(2,089)
Accounts payable	2,880	2,429
Other accounts payable	(6,488)	(5,861)
Accrued expenses	1,104	(2,709)
Accrued income taxes	(2,972)	(11,513)
Other current liabilities	(471)	(2,153)
Other non-current liabilities	(214)	570
Payment of severance benefits	(5,728)	(2,934)
Other, net	(487)	(385)
Net cash provided by (used in) operating activities	(1,929)	24,965
Cash flows from investing activities
Proceeds from settlement of hedge collateral	3,335	2,805
Payment of hedge collateral	(2,586)	(6,844)
Purchase of property, plant and equipment	(1,518)	(1,511)
Payment for intellectual property registration	(163)	(153)
Payment of guarantee deposits	(6,907)	(1,049)
Other, net	1,445	14
Net cash used in investing activities	(6,394)	(6,738)
Cash flows from financing activities
Proceeds from exercise of stock options	27	1,786
Acquisition of treasury stock	(36,840)	(1,826)
Repayment of financing related to water treatment facility arrangement	(248)	(261)
Repayment of principal portion of finance lease liabilities	(46)	(32)
Net cash used in financing activities	(37,107)	(333)
Effect of exchange rates on cash and cash equivalents	(7,093)	(23,644)
Net decrease in cash and cash equivalents	(52,523)	(5,750)
Cash and cash equivalents at beginning of period	225,477	279,547
Cash and cash equivalents at end of period	172,954	273,797
Supplemental cash flow information
Cash paid for income taxes	3,599	14,022
Non-cash investing activities
Property, plant and equipment additions in other accounts payable	477	$ 4,050
Non-cash financing activities
Unsettled common stock repurchases	$ 1,379

Geographic and Other Information - Additional Information (Detail)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
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%	73.00%	70.00%	72.00%
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	15.10%	26.70%	15.00%	26.10%
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	13.50%	13.30%	14.40%	13.10%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Top Customer One [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage			59.00%		56.00%
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	67.50%		62.90%
Geographic Concentration Risk [Member] \| Net Sales [Member] \| CHINA, HONG KONG [Member] \| Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage		56.50%		64.00%
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	11.30%	26.70%	14.40%	20.40%

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Estimated amount reclassified from accumulated other comprehensive income into income	$ 889
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	1,120	$ 1,840
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		$ 100

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Income Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	$ 393,353	$ 461,162	$ 428,153	$ 452,762
Total other comprehensive loss	(1,417)	(11,543)	(3,857)	(15,090)
Balance ending	364,292	448,147	364,292	448,147
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(13,236)	(3,815)	(11,328)	(770)
Other comprehensive loss before reclassifications	(2,285)	(6,862)	(4,193)	(9,907)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Total other comprehensive loss	(2,285)	(6,862)	(4,193)	(9,907)
Balance ending	(15,521)	(10,677)	(15,521)	(10,677)
Derivative Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(1,757)	(1,962)	(1,225)	(1,460)
Other comprehensive loss before reclassifications	(375)	(6,477)	(1,510)	(7,741)
Amounts reclassified from accumulated other comprehensive loss	1,243	1,796	1,846	2,558
Total other comprehensive loss	868	(4,681)	336	(5,183)
Balance ending	(889)	(6,643)	(889)	(6,643)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(14,993)	(5,777)	(12,553)	(2,230)
Other comprehensive loss before reclassifications	(2,660)	(13,339)	(5,703)	(17,648)
Amounts reclassified from accumulated other comprehensive loss	1,243	1,796	1,846	2,558
Total other comprehensive loss	(1,417)	(11,543)	(3,857)	(15,090)
Balance ending	$ (16,410)	$ (17,320)	$ (16,410)	$ (17,320)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Geographic and Other Information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Operating Segments

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


	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Revenues
Standard products business
Display Solutions	$	9,657	$	28,336	$	20,498	$	57,521
Power Solutions		41,718		62,952		82,391		127,777

Total standard products business		51,375		91,288		102,889		185,298
Transitional Fab 3 foundry services		9,604		10,088		15,095		20,171

Total revenues	$	60,979	$	101,376	$	117,984	$	205,469


	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023			June 30, 2022
Gross Profit
Standard products business	$	13,508	$	27,668	$	27,710		$	65,598
Transitional Fab 3 foundry services		30		1,277		(2,078	)		2,343

Total gross profit	$	13,538	$	28,945	$	25,632		$	67,941

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				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Korea	$	14,394	$	31,168	$	30,890	$	62,198
Asia Pacific (other than Korea)		35,024		56,068		66,925		114,328
United States		236		2,492		1,281		5,356
Europe		1,721		1,560		3,793		3,416

Total	$	51,375	$	91,288	$	102,889	$	185,298

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Line Items]
Depreciation expenses	$ 8,183	$ 7,239

Early Termination and Other Charges	6 Months Ended
Early Termination and Other Charges	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Early Termination and Other Charges	9. Early Termination and Other Charges During the first quarter of 2023, the Company commenced the voluntary resignation program (the “ 2023 Resignation Pr ogram”), which was available for the employees with more than 20 years of service. For the six months ended June 30, 2023, the Company recorded in its consolidated statement of operations $8,449 thousand of termination related charges as “early termination and other charges”, which were paid during the second quarter of 2023. For the three and six months ended June 30, 2023, the Company also recorded $802 thousand of one-time employee incentives. For the three and six months ended June 30, 2022, the Company recorded $797 thousand of professional service fees and expenses incurred in connection with certain strategic evaluations.

Geographic and Other Information - Net Sales by Region, Based on Location of Products are Billed (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 60,979	$ 101,376	$ 117,984	$ 205,469
Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	51,375	91,288	102,889	185,298
Standard products business [Member] \| Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	14,394	31,168	30,890	62,198
Standard products business [Member] \| Asia Pacific (Other Than Korea) [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	35,024	56,068	66,925	114,328
Standard products business [Member] \| United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	236	2,492	1,281	5,356
Standard products business [Member] \| Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 1,721	$ 1,560	$ 3,793	$ 3,416

- Definition

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

+ References

+ Details

Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2023

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 and six months ended June 30, 2023 and 2022:


	Three Months Ended						Six Months Ended
	June 30, 2023			June 30, 2022			June 30, 2023			June 30, 2022

	(In thousands of U.S. dollars, except share data)
Basic earnings (loss) per share
Net income (loss)	$	(3,947	)	$	(3,340	)	$	(25,417	)	$	6,188
Basic weighted average common stock outstanding		41,741,310			44,897,278			42,561,514			45,248,293
Basic earnings (loss) per common share	$	(0.09	)	$	(0.07	)	$	(0.60	)	$	0.14
Diluted earnings (loss) per share
Net income (loss)	$	(3,947	)	$	(3,340	)	$	(25,417	)	$	6,188
Basic weighted average common stock outstanding		41,741,310			44,897,278			42,561,514			45,248,293
Net effect of dilutive equity awards		—			—			—			1,081,266

Diluted weighted average common stock outstanding		41,741,310			44,897,278			42,561,514			46,329,559
Diluted earnings (loss) per share	$	(0.09	)	$	(0.07	)	$	(0.60	)	$	0.13

Diluted earnings (loss) per share adjusts basic earnings (loss) per share for the potentially dilutive impact of stock options and restricted stock units. As the Company has reported loss for the three and six months ended June 30, 2023 and three months ended June 30, 2022, all potentially dilutive securities are antidilutive and accordingly not considered, therefore basic net loss per share equals diluted net loss per share.

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


	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Options		903,558		1,145,551		903,558		130,000
Restricted Stock Units		1,538,791		1,121,574		1,538,791		—

Intangible Assets

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

4. Intangible Assets

Intangible assets as of June 30, 2023 and December 31, 2022 are comprised of the following (in thousands):


	June 30, 2023
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	8,923	$	(7,217	)	$	1,706

Intangible assets	$	8,923	$	(7,217	)	$	1,706


	December 31, 2022
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	9,111	$	(7,181	)	$	1,930

Intangible assets	$	9,111	$	(7,181	)	$	1,930

Aggregate amortization expenses for intangible assets totaled $319 thousand and $363 thousand for the six months ended June 30, 2023 and 2022, respectively.

Accrued Severance Benefits - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2023
Percentage of employees eligible for severance benefits	97.00%
Retirement age of employees	60 years
Korea [Member] \| Minimum [Member]
Korea's mandatory retirement age	60 years

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Payments to Suppliers and Employees [Abstract]
Prepayments to suppliers	$ 4,117	$ 6,605

Derivative Financial Instruments - Impact of Derivative Instruments on Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)	$ 1,243	$ 1,796	$ 1,846	$ 2,558
Cash Flow Hedging [Member]
Derivative [Line Items]
Amount of Loss Recognized in AOCI on Derivatives (Effective Portion)	(375)	(6,477)	(1,510)	(7,741)
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)	(1,243)	(1,796)	(1,846)	(2,558)
Cash Flow Hedging [Member] \| Other income, net [Member]
Derivative [Line Items]
Amount of Gain Recognized in Statement of Operations on Derivatives (Ineffective Portion)	(20)	184	(74)	55
Zero Cost Collars [Member] \| Cash Flow Hedging [Member]
Derivative [Line Items]
Amount of Loss Recognized in AOCI on Derivatives (Effective Portion)	(375)	(6,477)	(1,510)	(7,741)
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)	(1,243)	(1,796)	(1,846)	(2,558)
Zero Cost Collars [Member] \| Cash Flow Hedging [Member] \| Other income, net [Member]
Derivative [Line Items]
Amount of Gain Recognized in Statement of Operations on Derivatives (Ineffective Portion)	$ (20)	$ 184	$ (74)	$ 55

Property, Plant and Equipment

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

3. Property, Plant and Equipment

Property, plant and equipment as of June 30, 2023 and December 31, 2022 are comprised of the following (in thousands):


	June 30, 2023			December 31, 2022
Buildings and related structures	$	24,048		$	24,780
Machinery and equipment		134,806			137,666
Finance lease right-of-use assets		702			389
Others		33,689			33,890

		193,245			196,725
Less: accumulated depreciation		(105,929	)		(101,502	)
Land		12,583			13,034
Construction in progress		1,168			2,490

Property, plant and equipment, net	$	101,067		$	110,747

Aggregate depreciation expenses totaled $8,183 thousand and $7,239 thousand for the six months ended June 30, 2023 and 2022, respectively.

Early Termination and Other Charges - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Minimum requisite period of service for voluntary resignation program			20 years
Early termination charges			$ 8,449
One time employee incentives and professional service fees and expenses	$ 802		$ 802
Expenses incurred in connection with Strategic evaluations		$ 797		$ 797

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Details of Derivative Contracts

Details of the zero cost collar contracts as of June 30, 2023 are as follows (in thousands):


Date of transaction	Total notional amount		Month of settlement
March 07, 2022	$	24,000	July 2023 to December 2023
April 27, 2022	$	24,000	July 2023 to December 2023
March 08, 2023	$	18,000	July 2023 to December 2023
April 03, 2023	$	23,000	December 2023 to June 2024

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


Date of transaction	Total notional amount		Month of settlement
January 04, 2022	$	30,000	January 2023 to June 2023
March 07, 2022	$	24,000	July 2023 to December 2023
April 27, 2022	$	42,000	January 2023 to December 2023

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 liabilities as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


Derivatives designated as hedging instruments:		June 30, 2023		December 31, 2022
Liability Derivatives:
Zero cost collars	Other current liabilities	$	1,776	$	2,015

Offsetting of Derivative Liabilities

Offsetting of derivative liabilities as of June 30, 2023 is as follows (in thousands):


As of June 30, 2023	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets		Net amounts of liabilities presented in the balance sheets		Gross amounts not offset in the balance sheets					Net amount
As of June 30, 2023	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets				Financial instruments		Cash collateral pledged			Net amount
Liability Derivatives:
Zero cost collars	$	1,776	$	—	$	1,776	$	—	$	(1,120	)	$	656

Offsetting of derivative liabilities as of December 31, 2022 is as follows (in thousands):


As of December 31, 2022	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, 2022	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets				Financial instruments		Cash collateral pledged			Net amount
Liability Derivatives:
Zero cost collars	$	2,015	$	—	$	2,015	$	—	$	(1,940	)	$	75

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 June 30, 2023 and 2022 (in thousands):



Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Loss Recognized in AOCI on Derivatives						Location/Amount of Loss Reclassified from AOCI Into Statement of Operations								Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
	Three Months Ended June 30,								Three Months Ended June 30,								Three Months Ended June 30,
	2023			2022					2023			2022					2023			2022

Zero cost collars	$	(375	)	$	(6,477	)		Net sales	$	(1,243	)	$	(1,796	)		Other income, net	$	(20	)	$	184

	$	(375	)	$	(6,477	)			$	(1,243	)	$	(1,796	)			$	(20	)	$	184

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the six months ended June 30, 2023 and 2022 (in thousands):



Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Loss Recognized in AOCI on Derivatives						Location/Amount of Loss Reclassified from AOCI Into Statement of Operations								Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
	Six Months Ended June 30,								Six Months Ended June 30,								Six Months Ended June 30,
	2023			2022					2023			2022					2023			2022

Zero cost collars	$	(1,510	)	$	(7,741	)		Net sales	$	(1,846	)	$	(2,558	)		Other income (loss), net	$	(74	)	$	55

	$	(1,510	)	$	(7,741	)			$	(1,846	)	$	(2,558	)			$	(74	)	$	55

Summary Of Cash Deposits

This cash deposit is recorded as hedge collateral on the consolidated balance sheets. Cash deposits as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


Counterparty	June 30, 2023		December 31, 2022
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.

+ References + Details

Stock Repurchases - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			4 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2022	Dec. 21, 2021	Dec. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2021	Aug. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Accelerated share repurchases, settlement (payment) or receipt		$ 37,500
Accelerated share repurchase program adjustment (in shares)		994,695
Aggregate purchase price of shares		$ 20,073
Sale of stock issue price (in dollars per share)		$ 20.18
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, Common [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Accelerated stock repurchase					$ (17,217)
Accelerated Stock Repurchase Program [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Accelerated stock repurchase		$ 37,500
Accelerated share repurchases, settlement (payment) or receipt	$ 37,500
Accelerated Stock Repurchase Program [Member] \| Treasury Stock, Common [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 (in shares)				1,031,576
Aggregate purchase price of shares	$ 17,217
Sale of stock issue price (in dollars per share)	$ 16.69
Stock Repurchase Program [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock repurchase program, authorized amount		$ 75,000					$ 87,500
Stock repurchased (in shares)			1,235,650	3,705,443
Aggregate purchase price			$ 12,511	$ 37,429
Sale of aggregate purchase price (in dollars per share)			$ 10.13	$ 10.1
Stock repurchase program, remaining authorized repurchase amount				$ 50,000			$ 50,000

Business, Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
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 a wide range of applications including smartphones, TVs, automotive and IT applications such as monitors, notebook PCs, tablet PCs as well as AR/VRs. 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. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for a full year or for any other periods. The December 31, 2022 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, 2022. There have been no material changes to the Company’s significant accounting policies as of and for the six months ended June 30, 2023 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, 2022.

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 Loss [Member]
Balance beginning at Dec. 31, 2021	$ 452,762	$ 559	$ 241,197	$ 343,542	$ (130,306)	$ (2,230)
Balance, Shares beginning at Dec. 31, 2021		45,659,304
Stock-based compensation	3,626		3,626
Exercise of stock options	1,786	$ 1	1,785
Exercise of stock options, Shares		152,326
Settlement of restricted stock units	(125)	$ 2	(127)
Settlement of restricted stock units, Shares		177,128
Acquisition of treasury stock	(1,000)				(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	(15,090)					(15,090)
Net income (loss)	6,188			6,188
Balance ending at Jun. 30, 2022	448,147	$ 562	263,698	349,730	(148,523)	(17,320)
Balance, Shares ending at Jun. 30, 2022		44,903,718
Balance beginning at Mar. 31, 2022	461,162	$ 562	261,830	353,070	(148,523)	(5,777)
Balance, Shares beginning at Mar. 31, 2022		44,894,385
Stock-based compensation	1,988		1,988
Exercise of stock options	5	$ 0	5
Exercise of stock options, Shares		1,000
Settlement of restricted stock units	(125)	$ 0	(125)
Settlement of restricted stock units, Shares		8,333
Other comprehensive loss, net	(11,543)					(11,543)
Net income (loss)	(3,340)			(3,340)
Balance ending at Jun. 30, 2022	448,147	$ 562	263,698	349,730	(148,523)	(17,320)
Balance, Shares ending at Jun. 30, 2022		44,903,718
Balance beginning at Dec. 31, 2022	$ 428,153	$ 564	266,058	335,506	(161,422)	(12,553)
Balance, Shares beginning at Dec. 31, 2022	43,824,575	43,824,575
Stock-based compensation	$ 3,212		3,212
Exercise of stock options	27	$ 0	27
Exercise of stock options, Shares		4,000
Settlement of restricted stock units	0	$ 0	0
Settlement of restricted stock units, Shares		13,333
Acquisition of treasury stock	(37,826)				(37,826)
Acquisition of treasury stock, Shares		(3,708,010)
Other comprehensive loss, net	(3,857)					(3,857)
Net income (loss)	(25,417)			(25,417)
Balance ending at Jun. 30, 2023	$ 364,292	$ 564	269,297	310,089	(199,248)	(16,410)
Balance, Shares ending at Jun. 30, 2023	40,133,898	40,133,898
Balance beginning at Mar. 31, 2023	$ 393,353	$ 564	267,187	314,036	(173,441)	(14,993)
Balance, Shares beginning at Mar. 31, 2023		42,589,315
Stock-based compensation	2,092		2,092
Exercise of stock options	18	$ 0	18
Exercise of stock options, Shares		2,600
Settlement of restricted stock units	0	$ 0	0
Settlement of restricted stock units, Shares		10,000
Acquisition of treasury stock	(25,807)				(25,807)
Acquisition of treasury stock, Shares		(2,468,017)
Other comprehensive loss, net	(1,417)					(1,417)
Net income (loss)	(3,947)			(3,947)
Balance ending at Jun. 30, 2023	$ 364,292	$ 564	$ 269,297	$ 310,089	$ (199,248)	$ (16,410)
Balance, Shares ending at Jun. 30, 2023	40,133,898	40,133,898

Accrued Severance Benefits - Future Benefits Payments to Employees (Detail) $ in Thousands	Jun. 30, 2023 USD ($)
Postemployment Benefits [Abstract]
Remainder of 2023	$ 168
2024	319
2025	739
2026	669
2027	372
2028	3,514
2029 - 2033	$ 18,215

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2023
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 and six months ended June 30, 2023, the Company recorded an income tax benefit of $2,977 thousand and $4,204 thousand, respectively, primarily attributable to the estimated taxable loss of its Korean subsidiary for the respective period. For the three months ended June 30, 2022, the Company recorded an income tax benefit of $897 thousand primarily attributable to a decrease in its Korean subsidiary’s pre-tax income for the respective period due to the foreign currency translation loss recorded in its Korean subsidiary in connection with intercompany loans. For the six months ended June 30, 2022, the Company recorded an income tax expense of $2,586 thousand, primarily attributable to interest on intercompany loan balances and income tax in its Korean subsidiary and the U.S. parent entity based on the Company’s estimated taxable income for the respective period.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Contingency [Line Items]
Income tax expense (benefit)	$ (2,977)	$ (897)	$ (4,204)	$ 2,586

- Definition

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

+ References + Details

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Equity [Abstract]
Foreign currency translation adjustments	$ (15,521)	$ (11,328)
Derivative adjustments	(889)	(1,225)
Total	$ (16,410)	$ (12,553)

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 8,923	$ 9,111
Accumulated amortization	(7,217)	(7,181)
Net amount	1,706	1,930
Intellectual Property Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross amount	8,923	9,111
Accumulated amortization	(7,217)	(7,181)
Net amount	$ 1,706	$ 1,930

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	16. 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 $4,117 thousand and $6,605 thousand as other current assets as of June 30, 2023 and December 31, 2022, respectively.

Accrued Expenses

6 Months Ended

Jun. 30, 2023

Payables and Accruals [Abstract]

Accrued Expenses

5. Accrued Expenses

Accrued expenses as of June 30, 2023 and December 31, 2022 are comprised of the following (in thousands):


	June 30, 2023		December 31, 2022
Payroll, benefits and related taxes, excluding severance benefits	$	7,210	$	7,620
Withholding tax attributable to intercompany interest income		886		43
Outside service fees		1,522		1,642
Others		838		383

Accrued expenses	$	10,456	$	9,688

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Net sales	$ 60,979	$ 101,376	$ 117,984	$ 205,469
Cost of sales:
Cost of sales	47,441	72,431	92,352	137,528
Gross profit	13,538	28,945	25,632	67,941
Operating expenses:
Selling, general and administrative expenses	12,137	12,736	24,302	26,899
Research and development expenses	11,255	13,410	24,553	25,364
Early Termination And Other Charges	802	797	9,251	797
Total operating expenses	24,194	26,943	58,106	53,060
Operating income (loss)	(10,656)	2,002	(32,474)	14,881
Interest income	2,692	1,061	5,534	1,776
Interest expense	(200)	(499)	(456)	(610)
Foreign currency gain (loss), net	1,237	(7,012)	(2,193)	(7,702)
Other income (loss), net	3	211	(32)	429
Income (loss) before income tax expense	(6,924)	(4,237)	(29,621)	8,774
Income tax expense (benefit)	(2,977)	(897)	(4,204)	2,586
Net income (loss)	$ (3,947)	$ (3,340)	$ (25,417)	$ 6,188
Basic earnings (loss) per common share—	$ (0.09)	$ (0.07)	$ (0.6)	$ 0.14
Diluted earnings (loss) per common share—	$ (0.09)	$ (0.07)	$ (0.6)	$ 0.13
Weighted average number of shares—
Basic	41,741,310	44,897,278	42,561,514	45,248,293
Diluted	41,741,310	44,897,278	42,561,514	46,329,559
Standard products business [Member]
Revenues:
Net sales	$ 51,375	$ 91,288	$ 102,889	$ 185,298
Cost of sales:
Cost of sales	37,867	63,620	75,179	119,700
Gross profit	13,508	27,668	27,710	65,598
Fab 3 Foundry Services [Member]
Revenues:
Net sales	9,604	10,088	15,095	20,171
Cost of sales:
Cost of sales	9,574	8,811	17,173	17,828
Gross profit	$ 30	$ 1,277	$ (2,078)	$ 2,343

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Payroll, benefits and related taxes, excluding severance benefits	$ 7,210	$ 7,620
Withholding tax attributable to intercompany interest income	886	43
Outside service fees	1,522	1,642
Others	838	383
Accrued expenses	$ 10,456	$ 9,688

Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
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 a wide range of applications including smartphones, TVs, automotive and IT applications such as monitors, notebook PCs, tablet PCs as well as AR/VRs. 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. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for a full year or for any other periods. The December 31, 2022 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, 2022. There have been no material changes to the Company’s significant accounting policies as of and for the six months ended June 30, 2023 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, 2022.

Derivative Financial Instruments - Cash deposits (Details) - Zero Cost Collar And Forward Contracts [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Deposit Assets [Line Items]
Deposit with counterparty	$ 1,000	$ 1,000
SC
Deposit Assets [Line Items]
Deposit with counterparty	$ 1,000	$ 1,000

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 193,245	$ 196,725
Less: accumulated depreciation	(105,929)	(101,502)
Land	12,583	13,034
Construction in progress	1,168	2,490
Property, plant and equipment, net	101,067	110,747
Buildings and Related Structures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	24,048	24,780
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	134,806	137,666
Finance Lease Right-of-Use Assets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	702	389
Others [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 33,689	$ 33,890

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 319	$ 363

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

As of June 30, 2023, the following table represents the Company’s liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands):


	Carrying Value June 30, 2023		Fair Value Measurement June 30, 2023		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)	$	1,776	$	1,776		—	$	1,776		—

As of December 31, 2022, 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, 2022		Fair Value Measurement December 31, 2022		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)	$	2,015	$	2,015		—	$	2,015		—

Earnings (Loss) Per Share - Schedule of Antidilutive Securities Excluded from the Computation of Loss Per Common Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding units and warrants excluded from computation of diluted earnings (loss) per share/unit (in shares)	903,558	1,145,551	903,558	130,000
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding units and warrants excluded from computation of diluted earnings (loss) per share/unit (in shares)	1,538,791	1,121,574	1,538,791	0

Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

Intangible assets as of June 30, 2023 and December 31, 2022 are comprised of the following (in thousands):


	June 30, 2023
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	8,923	$	(7,217	)	$	1,706

Intangible assets	$	8,923	$	(7,217	)	$	1,706


	December 31, 2022
	Gross amount		Accumulated amortization			Net amount
Intellectual property assets	$	9,111	$	(7,181	)	$	1,930

Intangible assets	$	9,111	$	(7,181	)	$	1,930

Earnings (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings (Loss) Per Common Share

The following table illustrates the computation of basic and diluted earnings (loss) per common share for the three and six months ended June 30, 2023 and 2022:


	Three Months Ended						Six Months Ended
	June 30, 2023			June 30, 2022			June 30, 2023			June 30, 2022

	(In thousands of U.S. dollars, except share data)
Basic earnings (loss) per share
Net income (loss)	$	(3,947	)	$	(3,340	)	$	(25,417	)	$	6,188
Basic weighted average common stock outstanding		41,741,310			44,897,278			42,561,514			45,248,293
Basic earnings (loss) per common share	$	(0.09	)	$	(0.07	)	$	(0.60	)	$	0.14
Diluted earnings (loss) per share
Net income (loss)	$	(3,947	)	$	(3,340	)	$	(25,417	)	$	6,188
Basic weighted average common stock outstanding		41,741,310			44,897,278			42,561,514			45,248,293
Net effect of dilutive equity awards		—			—			—			1,081,266

Diluted weighted average common stock outstanding		41,741,310			44,897,278			42,561,514			46,329,559
Diluted earnings (loss) per share	$	(0.09	)	$	(0.07	)	$	(0.60	)	$	0.13

Schedule of Antidilutive Securities Excluded from Computation of Earnings (Loss) Per Common Share

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


	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Options		903,558		1,145,551		903,558		130,000
Restricted Stock Units		1,538,791		1,121,574		1,538,791		—

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 172,954	$ 225,477
Accounts receivable, net	35,009	35,380
Inventories, net	32,337	39,883
Other receivables	3,498	7,847
Prepaid expenses	9,553	10,560
Hedge collateral (Note 6)	2,120	2,940
Other current assets (Note 16)	19,070	15,766
Total current assets	274,541	337,853
Property, plant and equipment, net	101,067	110,747
Operating lease right-of-use assets	5,224	5,265
Intangible assets, net	1,706	1,930
Long-term prepaid expenses	7,430	10,939
Deferred income taxes	37,141	38,324
Other non-current assets	16,626	11,587
Total assets	443,735	516,645
Current liabilities
Accounts payable	20,367	17,998
Other accounts payable	8,473	9,702
Accrued expenses (Note 5)	10,456	9,688
Accrued income taxes	91	3,154
Operating lease liabilities	1,745	1,397
Other current liabilities	4,506	5,306
Total current liabilities	45,638	47,245
Accrued severance benefits, net	20,123	23,121
Non-current operating lease liabilities	3,671	4,091
Other non-current liabilities	10,011	14,035
Total liabilities	79,443	88,492
Commitments and contingencies (Note 16)
Stockholders' equity
Common stock, $0.01 par value, 150,000,000 shares authorized, 56,449,782 shares issued and 40,133,898 outstanding at June 30, 2023 and 56,432,449 shares issued and 43,824,575 outstanding at December 31, 2022	564	564
Additional paid-in capital	269,297	266,058
Retained earnings	310,089	335,506
Treasury stock, 16,315,884 shares at June 30, 2023 and 12,607,874 shares at December 31, 2022, respectively	(199,248)	(161,422)
Accumulated other comprehensive loss	(16,410)	(12,553)
Total stockholders' equity	364,292	428,153
Total liabilities and stockholders' equity	$ 443,735	$ 516,645

Derivative Financial Instruments

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

6. Derivative Financial Instruments

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

Details of the zero cost collar contracts as of June 30, 2023 are as follows (in thousands):


Date of transaction	Total notional amount		Month of settlement
March 07, 2022	$	24,000	July 2023 to December 2023
April 27, 2022	$	24,000	July 2023 to December 2023
March 08, 2023	$	18,000	July 2023 to December 2023
April 03, 2023	$	23,000	December 2023 to June 2024

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


Date of transaction	Total notional amount		Month of settlement
January 04, 2022	$	30,000	January 2023 to June 2023
March 07, 2022	$	24,000	July 2023 to December 2023
April 27, 2022	$	42,000	January 2023 to December 2023

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 liabilities as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


Derivatives designated as hedging instruments:		June 30, 2023		December 31, 2022
Liability Derivatives:
Zero cost collars	Other current liabilities	$	1,776	$	2,015

Offsetting of derivative liabilities as of June 30, 2023 is as follows (in thousands):


As of June 30, 2023	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets		Net amounts of liabilities presented in the balance sheets		Gross amounts not offset in the balance sheets					Net amount
As of June 30, 2023	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets				Financial instruments		Cash collateral pledged			Net amount
Liability Derivatives:
Zero cost collars	$	1,776	$	—	$	1,776	$	—	$	(1,120	)	$	656

Offsetting of derivative liabilities as of December 31, 2022 is as follows (in thousands):


As of December 31, 2022	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, 2022	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets				Financial instruments		Cash collateral pledged			Net amount
Liability Derivatives:
Zero cost collars	$	2,015	$	—	$	2,015	$	—	$	(1,940	)	$	75

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 or loss (“AOCI”) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative, representing hedge components excluded from the assessment of effectiveness, are recognized in current earnings.

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the three months ended June 30, 2023 and 2022 (in thousands):



Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Loss Recognized in AOCI on Derivatives						Location/Amount of Loss Reclassified from AOCI Into Statement of Operations								Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
	Three Months Ended June 30,								Three Months Ended June 30,								Three Months Ended June 30,
	2023			2022					2023			2022					2023			2022

Zero cost collars	$	(375	)	$	(6,477	)		Net sales	$	(1,243	)	$	(1,796	)		Other income, net	$	(20	)	$	184

	$	(375	)	$	(6,477	)			$	(1,243	)	$	(1,796	)			$	(20	)	$	184

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the six months ended June 30, 2023 and 2022 (in thousands):



Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Loss Recognized in AOCI on Derivatives						Location/Amount of Loss Reclassified from AOCI Into Statement of Operations								Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
	Six Months Ended June 30,								Six Months Ended June 30,								Six Months Ended June 30,
	2023			2022					2023			2022					2023			2022

Zero cost collars	$	(1,510	)	$	(7,741	)		Net sales	$	(1,846	)	$	(2,558	)		Other income (loss), net	$	(74	)	$	55

	$	(1,510	)	$	(7,741	)			$	(1,846	)	$	(2,558	)			$	(74	)	$	55

As of June 30, 2023, the amount expected to be reclassified from accumulated other comprehensive loss into loss within the next 12 months is $889 thousand.

The Company set aside cash deposit to the counterparty, Standard Chartered Bank Korea Limited (“SC”), as required for the zero cost collar contracts. This cash deposit is recorded as hedge collateral on the consolidated balance sheets. Cash deposits as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


Counterparty	June 30, 2023		December 31, 2022
SC	$	1,000	$	1,000

Total	$	1,000	$	1,000

The Company is required to deposit additional cash collateral with Nomura Financial Investment (Korea) Co., Ltd. (“NFIK”) and SC for any exposure in excess of $500 thousand. As of June 30, 2023, $1,120 thousand of additional cash collateral was required by NFIK, and recorded as hedge collateral on the consolidated balance sheet. As of December 31, 2022, $1,840 thousand and $100 thousand of additional cash collateral were 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.

Accrued Severance Benefits - Changes in Accrued Severance Benefits (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Postemployment Benefits [Abstract]
Beginning balance	$ 48,574	$ 50,771	$ 48,496	$ 51,567
Provisions	1,761	1,570	4,091	3,240
Severance payments	(4,857)	(1,545)	(5,728)	(2,934)
Translation adjustments	(357)	(3,210)	(1,738)	(4,287)
Ending balance	45,121	47,586	45,121	47,586
Less: Cumulative contributions to severance insurance deposit accounts	(24,816)	(16,894)	(24,816)	(16,894)
The National Pension Fund	(30)	(44)	(30)	(44)
Group severance insurance plan	(152)	(182)	(152)	(182)
Accrued severance benefits, net	$ 20,123	$ 30,466	$ 20,123	$ 30,466	$ 23,121

Geographic and Other Information - Schedule of Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Total revenues	$ 60,979	$ 101,376	$ 117,984	$ 205,469
Total gross profit	13,538	28,945	25,632	67,941
Standard Products Business [Member]
Segment Reporting Information [Line Items]
Total revenues	51,375	91,288	102,889	185,298
Total gross profit	13,508	27,668	27,710	65,598
Fab 3 Foundry Services [Member]
Segment Reporting Information [Line Items]
Total revenues	9,604	10,088	15,095	20,171
Total gross profit	30	1,277	(2,078)	2,343
Operating Segments [Member] \| Standard Products Business [Member]
Segment Reporting Information [Line Items]
Total revenues	51,375	91,288	102,889	185,298
Operating Segments [Member] \| Standard Products Business [Member] \| Display Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	9,657	28,336	20,498	57,521
Operating Segments [Member] \| Standard Products Business [Member] \| Power Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 41,718	$ 62,952	$ 82,391	$ 127,777

- Definition

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

Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Accumulated Other Comprehensive Loss

13. Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consists of the following as of June 30, 2023 and December 31, 2022, respectively (in thousands):


	June 30, 2023			December 31, 2022
Foreign currency translation adjustments	$	(15,521	)	$	(11,328	)
Derivative adjustments		(889	)		(1,225	)

Total	$	(16,410	)	$	(12,553	)

Changes in accumulated other comprehensive loss for the three months ended June 30, 2023 and 2022 are as follows (in thousands):


Three Months Ended June 30, 2023	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(13,236	)	$	(1,757	)	$	(14,993	)

Other comprehensive loss before reclassifications		(2,285	)		(375	)		(2,660	)
Amounts reclassified from accumulated other comprehensive loss		—			1,243			1,243

Net current-period other comprehensive loss		(2,285	)		868			(1,417	)

Ending balance	$	(15,521	)	$	(889	)	$	(16,410	)


Three Months Ended June 30, 2022	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(3,815	)	$	(1,962	)	$	(5,777	)

Other comprehensive loss before reclassifications		(6,862	)		(6,477	)		(13,339	)
Amounts reclassified from accumulated other comprehensive loss		—			1,796			1,796

Net current-period other comprehensive loss		(6,862	)		(4,681	)		(11,543	)

Ending balance	$	(10,677	)	$	(6,643	)	$	(17,320	)

Changes in accumulated other comprehensive loss for the six months ended June 30, 2023 and 2022 are as follows (in thousands):


Six Months Ended June 30, 2023	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(11,328	)	$	(1,225	)	$	(12,553	)

Other comprehensive loss before reclassifications		(4,193	)		(1,510	)		(5,703	)
Amounts reclassified from accumulated other comprehensive loss		—			1,846			1,846

Net current-period other comprehensive loss		(4,193	)		336			(3,857	)

Ending balance	$	(15,521	)	$	(889	)	$	(16,410	)


Six Months Ended June 30, 2022	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(770	)	$	(1,460	)	$	(2,230	)

Other comprehensive loss before reclassifications		(9,907	)		(7,741	)		(17,648	)
Amounts reclassified from accumulated other comprehensive loss		—			2,558			2,558

Net current-period other comprehensive loss		(9,907	)		(5,183	)		(15,090	)

Ending balance	$	(10,677	)	$	(6,643	)	$	(17,320	)

Earnings (Loss) Per Share - Schedule of Computation of Basic and Diluted Loss Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Basic Earnings (Loss) per Share [Abstract]
Net income (loss)	$ (3,947)	$ (3,340)	$ (25,417)	$ 6,188
Basic weighted average common stock outstanding (in shares)	41,741,310	44,897,278	42,561,514	45,248,293
Basic earnings (loss) per share (in dollars per share)	$ (0.09)	$ (0.07)	$ (0.6)	$ 0.14
Diluted Earnings (Loss) per Share [Abstract]
Basic weighted average common stock outstanding (in shares)	41,741,310	44,897,278	42,561,514	45,248,293
Net effect of dilutive equity awards (in shares)	0	0	0	1,081,266
Diluted weighted average common stock outstanding (in shares)	41,741,310	44,897,278	42,561,514	46,329,559
Diluted earnings (loss) per share (in dollars per share)	$ (0.09)	$ (0.07)	$ (0.6)	$ 0.13

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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Derivative Financial Instruments - Offsetting of Derivative Assets and Liabilities (Details) - Zero Cost Collars [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Liability Derivatives:
Gross amounts of recognized liabilities	$ 1,776	$ 2,015
Gross amounts offset in the balance sheets	0	0
Net amounts of liabilities presented in the balance sheets	1,776	2,015
Gross amounts not offset in the balance sheets, Financial instruments	0	0
Gross amounts not offset in the balance sheets, Cash collateral pledged	(1,120)	(1,940)
Net amount	$ 656	$ 75

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Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

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-URI https://asc.fasb.org//1943274/2147482907/825-10-50-10

+ Details

Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2023

Payables and Accruals [Abstract]

Summary of Accrued Expenses

Accrued expenses as of June 30, 2023 and December 31, 2022 are comprised of the following (in thousands):


	June 30, 2023		December 31, 2022
Payroll, benefits and related taxes, excluding severance benefits	$	7,210	$	7,620
Withholding tax attributable to intercompany interest income		886		43
Outside service fees		1,522		1,642
Others		838		383

Accrued expenses	$	10,456	$	9,688

Derivative Financial Instruments - Details of Derivative Contracts (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Zero Cost Collar One [Member]
Derivative [Line Items]
Date of transaction	Mar. 07, 2022	Jan. 04, 2022
Total notional amount	$ 24,000	$ 30,000
Month of settlement, start	2023-07	2023-01
Month of settlement, end	2023-12	2023-06
Zero Cost Collar Two [Member]
Derivative [Line Items]
Date of transaction	Apr. 27, 2022	Mar. 07, 2022
Total notional amount	$ 24,000	$ 24,000
Month of settlement, start	2023-07	2023-07
Month of settlement, end	2023-12	2023-12
Zero Cost Collar Three [Member]
Derivative [Line Items]
Date of transaction	Mar. 08, 2023	Apr. 27, 2022
Total notional amount	$ 18,000	$ 42,000
Month of settlement, start	2023-07	2023-01
Month of settlement, end	2023-12	2023-12
Zero Cost Collar Four [Member]
Derivative [Line Items]
Date of transaction	Apr. 03, 2023
Total notional amount	$ 23,000
Month of settlement, start	2023-12
Month of settlement, end	2024-06

Accrued Severance Benefits

6 Months Ended

Jun. 30, 2023

Postemployment Benefits [Abstract]

Accrued Severance Benefits

8. Accrued Severance Benefits

The majority of accrued severance benefits are for employees in the Company’s Korean subsidiary. Pursuant to the Employee Retirement Benefit Security Act of Korea, eligible employees and executive officers with one or more years of service are entitled to severance benefits upon the termination of their employment based on their length of service and rate of pay. As of June 30, 2023, 97% of all employees of the Company were eligible for severance benefits.

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


	Three Months Ended			Six Months Ended			Three Months Ended			Six Months Ended

	June 30, 2023						June 30, 2022

Beginning balance	$	48,574		$	48,496		$	50,771		$	51,567
Provisions		1,761			4,091			1,570			3,240
Severance payments		(4,857	)		(5,728	)		(1,545	)		(2,934	)
Translation adjustments		(357	)		(1,738	)		(3,210	)		(4,287	)

		45,121			45,121			47,586			47,586
Less: Cumulative contributions to severance insurance deposit accounts		(24,816	)		(24,816	)		(16,894	)		(16,894	)
The National Pension Fund		(30	)		(30	)		(44	)		(44	)
Group severance insurance plan		(152	)		(152	)		(182	)		(182	)

Accrued severance benefits, net	$	20,123		$	20,123		$	30,466		$	30,466

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 pursuant to Employee Retirement Benefit Security Act of Korea. 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 2023	$	168
2024		319
2025		739
2026		669
2027		372
2028		3,514
2029 – 2033		18,215

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 years of age or older under the Employment Promotion for the Aged Act. The Company sets the retirement age of employees at 60.

Derivative Financial Instruments - Fair Values of Outstanding Zero Cost Collar and Forward Contracts Recorded as Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Liability Derivatives:
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current
Zero Cost Collars [Member]
Liability Derivatives:
Other current liabilities	$ 1,776	$ 2,015

- Definition

+ References

+ Details

Inventories - Changes in Inventory Reserve (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Changes In Inventory Reserve [Abstract]
Beginning balance	$ (14,941)	$ (5,555)	$ (14,677)	$ (5,730)
Change in reserve [Abstract]
Inventory reserve charged to costs of sales	(2,023)	(6,093)	(4,607)	(7,700)
Sale of previously reserved inventory	2,047	872	3,523	2,324
Change in reserve	24	(5,221)	(1,084)	(5,376)
Write off	67	84	482	295
Translation adjustments	105	486	534	605
Ending balance	$ (14,745)	$ (10,206)	$ (14,745)	$ (10,206)

Inventories

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Inventories

2. Inventories

Inventories as of June 30, 2023 and December 31, 2022 consist of the following (in thousands):


	June 30, 2023			December 31, 2022
Finished goods	$	5,025		$	6,799
Semi-finished goods and work-in-process		35,379			40,265
Raw materials		6,664			7,460
Materials in-transit		14			36
Less: inventory reserve		(14,745	)		(14,677	)

Inventories, net	$	32,337		$	39,883

Changes in inventory reserve for the three and six months ended June 30, 2023 and 2022 are as follows (in thousands):


	Three Months Ended			Six Months Ended			Three Months Ended			Six Months Ended

	June 30, 2023						June 30, 2022
Beginning balance	$	(14,941	)	$	(14,677	)	$	(5,555	)	$	(5,730	)
Change in reserve
Inventory reserve charged to costs of sales		(2,023	)		(4,607	)		(6,093	)		(7,700	)
Sale of previously reserved inventory		2,047			3,523			872			2,324

		24			(1,084	)		(5,221	)		(5,376	)
Write off		67			482			84			295
Translation adjustments		105			534			486			605

Ending balance	$	(14,745	)	$	(14,745	)	$	(10,206	)	$	(10,206	)

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.

Stock Repurchases	6 Months Ended
Stock Repurchases	Jun. 30, 2023
Equity [Abstract]
Stock Repurchases	14. Stock Repurchases Accelerated Stock Repurchase Program On December 21, 2021, the Board of Directors authorized the Company to repurchase up to $75,000 thousand of its outstanding common stock and the Company entered into an accelerated stock repurchase agreement dated December 21, 2021 (the “ASR Agreement”) with JPMorgan Chase Bank, National Association (“JPM”) to repurchase an aggregate of $37,500 thousand of its common stock. Pursuant to the terms of the ASR Agreement, 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 treasury stock from additional paid-in capital in stockholder’s equity in its consolidated balance sheets. Expanded Stock Repurchase Program On August 31, 2022, the Board of Directors authorized an expansion of the Company’s previously announced stock repurchase program from $75,000 thousand to $87,500 thousand of its common stock. The remaining $50,000 thousand of the expanded $87,500 thousand program was expected to be repurchased in the open market or through privately negotiated transactions. In June 2023, the Company completed the repurchase of its common stock under its expanded stock repurchase program using the remaining $50,000 thousand through open market purchase s . From September 2022 to December 2022, the Company repurchased 1,235,650 shares of its common stock in the open market for an aggregate purchase price of $12,511 thousand and a price per share of $10.13 under the expanded stock repurchase program. During the first half of 2023, the Company repurchased 3,705,443 shares of its common stock in the open market for an aggregate purchase price of $37,429 thousand and a price per share of $10.10 under the expanded stock repurchase program.

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 5,025		$ 6,799
Semi-finished goods and work-in-process	35,379		40,265
Raw materials	6,664		7,460
Materials in-transit	14		36
Less: inventory reserve	(14,745)	$ (14,941)	(14,677)	$ (10,206)	$ (5,555)	$ (5,730)
Inventories, net	$ 32,337		$ 39,883

Geographic and Other Information

6 Months Ended

Jun. 30, 2023

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				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Revenues
Standard products business
Display Solutions	$	9,657	$	28,336	$	20,498	$	57,521
Power Solutions		41,718		62,952		82,391		127,777

Total standard products business		51,375		91,288		102,889		185,298
Transitional Fab 3 foundry services		9,604		10,088		15,095		20,171

Total revenues	$	60,979	$	101,376	$	117,984	$	205,469


	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023			June 30, 2022
Gross Profit
Standard products business	$	13,508	$	27,668	$	27,710		$	65,598
Transitional Fab 3 foundry services		30		1,277		(2,078	)		2,343

Total gross profit	$	13,538	$	28,945	$	25,632		$	67,941


	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Korea	$	14,394	$	31,168	$	30,890	$	62,198
Asia Pacific (other than Korea)		35,024		56,068		66,925		114,328
United States		236		2,492		1,281		5,356
Europe		1,721		1,560		3,793		3,416

Total	$	51,375	$	91,288	$	102,889	$	185,298

For the three months ended June 30, 2023 and 2022, 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 67.5% and 56.5%, respectively, and net sales—standard products business in Vietnam represented 11.3% and 26.7%, respectively. For the six months ended June 30, 2023 and 2022, of the Company’s net sales – standard products business in Asia Pacific (other than Korea), net sales – standard products business in China and Hong Kong represented 62.9% and 64.0%, respectively, and net sales—standard products business in Vietnam represented 14.4% and 20.4%, 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 73% for the three months ended June 30, 2023 and 2022, respectively, and 70% and 72% for the six months ended June 30, 2023 and 2022, respectively.

For the three months ended June 30, 2023, the Company had two customers that represented 15.1% and 13.5% of its net sales—standard products business, respectively. For the six months ended June 30, 2023, the Company had two customers that represented 15.0% and 14.4% of its net sales—standard products business, respectively. For the three months ended June 30, 2022, the Company had two customers that represented 26.7% and 13.3% of its net sales – standard products business. For the six months ended June 30, 2022, the Company had two customers that represented 26.1% and 13.1% of its net sales – standard products business.

As of June 30, 2023, the Company’s accounts receivable was concentrated with four customers at June 30, 2023, who represented a total of 59% of its accounts receivable – standard products business (which does not include the Transitional Fab 3 Foundry Services), compared with four customers at December 31, 2022, who represented 56% of its accounts receivable – standard products business (which does not include the Transitional Fab 3 Foundry Services).

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Summary of Property, Plant and Equipment

Property, plant and equipment as of June 30, 2023 and December 31, 2022 are comprised of the following (in thousands):


	June 30, 2023			December 31, 2022
Buildings and related structures	$	24,048		$	24,780
Machinery and equipment		134,806			137,666
Finance lease right-of-use assets		702			389
Others		33,689			33,890

		193,245			196,725
Less: accumulated depreciation		(105,929	)		(101,502	)
Land		12,583			13,034
Construction in progress		1,168			2,490

Property, plant and equipment, net	$	101,067		$	110,747

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (3,947)	$ (3,340)	$ (25,417)	$ 6,188
Other comprehensive loss
Foreign currency translation adjustments	(2,285)	(6,862)	(4,193)	(9,907)
Derivative adjustments
Fair valuation of derivatives	(375)	(6,477)	(1,510)	(7,741)
Reclassification adjustment for loss on derivatives included in net income (loss)	1,243	1,796	1,846	2,558
Total other comprehensive loss	(1,417)	(11,543)	(3,857)	(15,090)
Total comprehensive loss	$ (5,364)	$ (14,883)	$ (29,274)	$ (8,902)

- Definition

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

+ References

+ Details

Inventories (Tables)

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories as of June 30, 2023 and December 31, 2022 consist of the following (in thousands):


	June 30, 2023			December 31, 2022
Finished goods	$	5,025		$	6,799
Semi-finished goods and work-in-process		35,379			40,265
Raw materials		6,664			7,460
Materials in-transit		14			36
Less: inventory reserve		(14,745	)		(14,677	)

Inventories, net	$	32,337		$	39,883

Changes in Inventory Reserve

Changes in inventory reserve for the three and six months ended June 30, 2023 and 2022 are as follows (in thousands):


	Three Months Ended			Six Months Ended			Three Months Ended			Six Months Ended

	June 30, 2023						June 30, 2022
Beginning balance	$	(14,941	)	$	(14,677	)	$	(5,555	)	$	(5,730	)
Change in reserve
Inventory reserve charged to costs of sales		(2,023	)		(4,607	)		(6,093	)		(7,700	)
Sale of previously reserved inventory		2,047			3,523			872			2,324

		24			(1,084	)		(5,221	)		(5,376	)
Write off		67			482			84			295
Translation adjustments		105			534			486			605

Ending balance	$	(14,745	)	$	(14,745	)	$	(10,206	)	$	(10,206	)

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2023	Jul. 31, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	001-34791
Entity Registrant Name	Magnachip Semiconductor Corporation
Entity Central Index Key	0001325702
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-0406195
Entity Address, Address Line One	c/o Magnachip Semiconductor, Ltd.
Entity Address, Address Line Two	15F, 76 Jikji-daero 436beon-gil
Entity Address, City or Town	Heungdeok-gu
Entity Address, Country	KR
Entity Address, Postal Zip Code	28581
City Area Code	82
Local Phone Number	(2) 6903-3000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		40,259,499

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
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	56,449,782	56,432,449
Common stock, shares outstanding	40,133,898	43,824,575
Treasury stock, shares	16,315,884	12,607,874

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consists of the following as of June 30, 2023 and December 31, 2022, respectively (in thousands):


	June 30, 2023			December 31, 2022
Foreign currency translation adjustments	$	(15,521	)	$	(11,328	)
Derivative adjustments		(889	)		(1,225	)

Total	$	(16,410	)	$	(12,553	)

Changes in Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss for the three months ended June 30, 2023 and 2022 are as follows (in thousands):


Three Months Ended June 30, 2023	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(13,236	)	$	(1,757	)	$	(14,993	)

Other comprehensive loss before reclassifications		(2,285	)		(375	)		(2,660	)
Amounts reclassified from accumulated other comprehensive loss		—			1,243			1,243

Net current-period other comprehensive loss		(2,285	)		868			(1,417	)

Ending balance	$	(15,521	)	$	(889	)	$	(16,410	)


Three Months Ended June 30, 2022	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(3,815	)	$	(1,962	)	$	(5,777	)

Other comprehensive loss before reclassifications		(6,862	)		(6,477	)		(13,339	)
Amounts reclassified from accumulated other comprehensive loss		—			1,796			1,796

Net current-period other comprehensive loss		(6,862	)		(4,681	)		(11,543	)

Ending balance	$	(10,677	)	$	(6,643	)	$	(17,320	)

Changes in accumulated other comprehensive loss for the six months ended June 30, 2023 and 2022 are as follows (in thousands):


Six Months Ended June 30, 2023	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(11,328	)	$	(1,225	)	$	(12,553	)

Other comprehensive loss before reclassifications		(4,193	)		(1,510	)		(5,703	)
Amounts reclassified from accumulated other comprehensive loss		—			1,846			1,846

Net current-period other comprehensive loss		(4,193	)		336			(3,857	)

Ending balance	$	(15,521	)	$	(889	)	$	(16,410	)


Six Months Ended June 30, 2022	Foreign currency translation adjustments			Derivative adjustments			Total
Beginning balance	$	(770	)	$	(1,460	)	$	(2,230	)

Other comprehensive loss before reclassifications		(9,907	)		(7,741	)		(17,648	)
Amounts reclassified from accumulated other comprehensive loss		—			2,558			2,558

Net current-period other comprehensive loss		(9,907	)		(5,183	)		(15,090	)

Ending balance	$	(10,677	)	$	(6,643	)	$	(17,320	)

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - Other Current Liabilities [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Carrying Value [Member]
Liabilities:
Derivative liabilities	$ 1,776	$ 2,015
Estimate of Fair Value Measurement [Member]
Liabilities:
Derivative liabilities	1,776	2,015
Significant Other Observable Inputs (Level 2) [Member]
Liabilities:
Derivative liabilities	$ 1,776	$ 2,015

- Definition

+ References

+ Details

Foreign Currency Loss, Net - Additional Information (Detail) $ in Thousands	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Foreign Currency Transaction [Abstract]
Exchange rates using first base rate	1,312.8	1,267.3
Intercompany loan balances	$ 293,077	$ 310,988

Foreign Currency Loss, Net	6 Months Ended
Foreign Currency Loss, Net	Jun. 30, 2023
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 June 30, 2023 and December 31, 2022, the outstanding intercompany loan balances including accrued interest between the Korean subsidiary and the Dutch subsidiary were $293,077 thousand and $310,988 thousand, respectively. The Korean won to U.S. dollar exchange rates were 1,312.8:1 and 1,267.3:1 using the first base rate as of June 30, 2023 and December 31, 2022, respectively, as quoted by the KEB Hana Bank.

- Definition

The entire disclosure for foreign currency transactions and translation. This may include description of foreign currency transactions, foreign currency gains and losses, explanation of change in cumulative translation adjustment, description of effect of subsequent foreign currency exchange rate change, cumulative translation adjustment movement, foreign currency translation adjustment by component movement, translation adjustment for net investment hedge movement, adjustment for long-term intercompany transactions, schedule of long-term intercompany balances and any other foreign currency transactions and translation related items.

+ References + Details