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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income (loss) $ (21,470) $ 9,528
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Depreciation and amortization 4,357 3,891
Provision for severance benefits 2,330 1,670
Loss on foreign currency, net 9,082 6,380
Provision for inventory reserves 1,138 145
Stock-based compensation 1,120 1,638
Other, net 237 161
Changes in operating assets and liabilities    
Accounts receivable, net 2,973 (1,213)
Inventories 1,062 1,456
Other receivables 2,376 667
Other current assets 1,456 (6,829)
Accounts payable 1,904 538
Other accounts payable (1,424) (702)
Accrued expenses 7,600 187
Accrued income taxes (2,923) (2,346)
Other current liabilities (596) (711)
Other non-current liabilities (169) (73)
Payment of severance benefits (871) (1,389)
Other, net (306) (178)
Net cash provided by operating activities 7,876 12,820
Cash flows from investing activities    
Proceeds from settlement of hedge collateral 1,155 1,829
Payment of hedge collateral (1,093) (2,891)
Purchase of property, plant and equipment (135) (944)
Payment for intellectual property registration (74) (59)
Payment of guarantee deposits (3,482) (79)
Other, net 19 2
Net cash used in investing activities (3,610) (2,142)
Cash flows from financing activities    
Proceeds from exercise of stock options 9 1,781
Acquisition of treasury stock (12,264) (830)
Repayment of financing related to water treatment facility arrangement (126) (134)
Repayment of principal portion of finance lease liabilities (24) (16)
Net cash provided by (used in) financing activities (12,405) 801
Effect of exchange rates on cash and cash equivalents (5,253) (6,105)
Net increase (decrease) in cash and cash equivalents (13,392) 5,374
Cash and cash equivalents at beginning of period 225,477 279,547
Cash and cash equivalents at end of period 212,085 284,921
Supplemental cash flow information    
Cash paid for income taxes 2,644 5,421
Non-cash investing and financing activities    
Property, plant and equipment additions in other accounts payable 629 524
Acquisition of treasury stock to satisfy the tax withholding obligations in connection with equity-based compensation 0 996
Unsettled common stock repurchases $ 401 $ 0