Discontinued Operations and Assets Held for Sale (Tables)

9 Months Ended

Sep. 30, 2020

Discontinued Operations and Assets Held for Sale [Abstract]

Schedule Of Results From Discontinued Operations

The following table summarizes the results from discontinued operations, net of tax, for the three and nine months ended September 30, 2020 and 2019.

	Three Months Ended						Nine Months Ended
	September 30, 2020			September 30, 2019			September 30, 2020			September 30, 2019
	(In thousands of U.S. dollars, except share data)
Revenues:
Net sales – Foundry Services Group	$	72,674		$	90,404		$	254,732		$	220,659
Net sales – transitional Fab 3 foundry services		(6,277	)		(9,894	)		(25,887	)		(25,776	)
Total revenues		66,397			80,510			228,845			194,883
Cost of sales:
Cost of sales – Foundry Services Group		52,420			64,793			182,872			179,152
Cost of sales – transitional Fab 3 foundry services		(6,277	)		(9,894	)		(25,887	)		(25,776	)
Total cost of sales		46,143			54,899			156,985			153,376
Gross profit		20,254			25,611			71,860			41,507
Operating expenses:
Selling, general and administrative expenses		4,068			6,126			14,704			18,040
Research and development expenses		5,166			7,135			19,484			22,326
Restructuring and other charges		7,870			763			10,574			4,787
Total operating expenses		17,104			14,024			44,762			45,153
Operating income (loss) from discontinued operations		3,150			11,587			27,098			(3,646	)
Foreign currency gain (loss), net		(797	)		780			1,277			2,533
Others, net		18			(10	)		66			(59	)
Income (loss) from discontinued operations before income tax expense		2,371			12,357			28,441			(1,172	)
Income tax expense (benefit)		14,173			(280	)		15,517			(209	)
Gain on sale of discontinued operations		287,117			—			287,117			—
Transaction costs		(10,814	)		—			(10,814	)		—
Income (loss) from discontinued operations, net of tax		264,501			12,637			289,227			(963	)

Schedule Of Results From Discontinued Operations Balance Sheet

The following table provides a reconciliation of the aggregate carrying amounts of major classes of assets and liabilities relating to the Foundry Services Group business and Fab 4, which are included in assets and liabilities held for sale as of December 31, 2019 in the accompanying consolidated balance sheet:

	December 31, 2019
	(In thousands of U.S. dollars)
Assets
Current assets
Accounts receivable, net	$	48,194
Unbilled accounts receivable		16,463
Inventories, net		31,863
Other current assets		3,301
Total current assets held for sale	$	99,821
Property, plant and equipment, net		109,506
Intangible assets, net		1,245
Other non-current assets		12,683
Total assets held for sale	$	223,255
Liabilities
Current liabilities
Accounts payable	$	20,503
Other current liabilities		16,537
Total current liabilities held for sale	$	37,040
Accrued severance benefits, net		95,547
Other non-current liabilities		15,334
Total liabilities held for sale	$	147,921

Schedule Of Results From Discontinued Operations Alternative Cash Flow Information

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

	Nine Months Ended
	September 30, 2020			September 30, 2019
	(In thousands of U.S. dollars)
Significant non-cash operating activities:
Depreciation and amortization	$	5,365		$	16,958
Provision for severance benefits		8,209			5,997
Stock-based compensation		388			259
Investing activities:
Capital expenditures	$	(5,838	)	$	(9,174	)