Tower Semiconductor Reports 2023 Fourth Quarter and Full Year Financial Results
|
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |
CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED) | |
(dollars in thousands) | | | | |
Three months ended | | | | | |
December 31, | | |
September 30, | | |
December 31, | | | | |
2023 | | |
2023 | | |
2022 | | | |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
$ |
314,816 | | |
$ |
318,195 | | |
$ |
390,369 | | | |
Net cash provided by operating activities * |
126,098 | | |
402,242 | | |
132,750 | | | |
Investments in property and equipment, net |
(136,426 |
) | |
(101,080 |
) | |
(38,186 |
) | | |
Debt received (repaid) and others, net |
(8,950 |
) | |
15,493 | | |
(11,465 |
) | | |
Proceeds from an investment in a subsidiary |
-- | | |
-- | | |
6,216 | | | |
Effect of Japanese Yen exchange rate change over cash balance |
2,101 | | |
(1,537 |
) | |
11,498 | | | |
Investments in short-term deposits, marketable securities and other assets, net |
(36,975 |
) | |
(318,497 |
) | |
(150,423 |
) | | |
CASH AND CASH EQUIVALENTS - END OF PERIOD |
$ |
260,664 | | |
$ |
314,816 | | |
$ |
340,759 | | | | |
* Merger-contract termination fee received from Intel during the third quarter of 2023, net of cost, in the amount of $313,501 was
|
included within the net cash provided by operating activities for the three months ended September 30, 2023.
| | | | | |
Year ended
| | | | | | |
December 31, | | |
December 31, | | | | | | | |
2023 | | |
2022 | | | | | | |
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD |
$ |
340,759 | | |
$ |
210,930 | | | | | | |
Net cash provided by operating activities ** |
676,561 | | |
529,820 | | | | | | |
Investments in property and equipment, net |
(432,184 |
) | |
(213,537 |
) | | | | | |
Debt repaid and others, net |
(32,346 |
) | |
(78,335 |
) | | | | | |
Proceeds from an investment in a subsidiary |
1,932 | | |
11,685 | | | | | | |
Effect of Japanese Yen exchange rate change over cash balance |
(5,395 |
) | |
(3,893 |
) | | | | | |
Investments in short-term deposits, marketable securities and other assets, net |
(288,663 |
) | |
(115,911 |
) | | | | | |
CASH AND CASH EQUIVALENTS - END OF PERIOD |
$ |
260,664 | | |
$ |
340,759 | | | | | | | |
** Merger-contract termination fee received from Intel during 2023, net of cost, in the amount of $313,501 was included within the net cash provided by operating activities for the year ended December 31, 2023.
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