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Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of short term borrowings and long term debt | Short-term borrowings and long-term debt consist of the following:
| December 31,
| 2023 |  | 2022
| (In thousands)
Debt of Amkor Technology, Inc.: |  |  |
Senior notes: |  |  |
6.625% Senior notes, due September 2027 | $ | 525,000 |  |  | $ | 525,000 |
Debt of subsidiaries: |  |  |
Amkor Technology Korea, Inc.: |  |  |
Term loan, fixed rate at 1.85%, due April 2024 (1) | — |  |  | — |
Term loan, fixed rate at 2.12%, due December 2028 | 200,000 |  |  | 200,000 |
Amkor Technology Japan, Inc.: |  |  |
Short-term term loans, variable rate (2) | 5,098 |  |  | 4,042 |
Term loan, fixed rate at 1.30%, due July 2023 | — |  |  | 29,744 |
Term loan, fixed rate at 1.35%, due December 2024 | 40,414 |  |  | 86,943 |
Term loan, fixed rate at 1.20%, due December 2025 | 30,913 |  |  | 49,878 |
Term loan, fixed rate at 1.23%, due December 2026 | 55,729 |  |  | 79,927 |
Term loan, fixed rate at 1.59%, due December 2027 | 89,053 |  |  | 119,738 |
Term loan, fixed rate at 1.80%, due December 2028 (3) | 124,078 |  |  | — |
Amkor Assembly & Test (Shanghai) Co., Ltd.: |  |  |
Term loans, SOFR plus 0.75%, due March 2024 (4) | — |  |  | 46,000 |
Term loans, SOFR plus 0.75%, due June 2025 (4) | 37,000 |  |  | 39,000 |
Term loans, SOFR plus 0.75%, due 2025 (4) | 57,500 |  |  | 59,500 |
Term loans, SOFR plus 1.40%, due December 2026 (5) | 45,000 |  |  | — |
Other: |  |  |
Credit facility, TAIFX plus the applicable bank rate, due December 2024 (Taiwan) (6) | — |  |  | — |
Senior secured revolving credit facility, applicable bank rate plus 1.75%, due March 2027 (Singapore) (7) | — |  |  | — |
| 1,209,785 |  |  | 1,239,772 |
Less: Unamortized discount and deferred debt costs, net | (6,329) |  |  | (7,438) |
Less: Short-term borrowings and current portion of long-term debt | (131,624) |  |  | (143,813) |
Long-term debt | $ | 1,071,832 |  |  | $ | 1,088,521 |
(1)In April 2021, we entered into a ₩80 billion term loan agreement with the option to borrow and re-borrow the funds up to six times per year through April 2024. Principal is payable at maturity, and interest is payable monthly. As of December 31, 2023, ₩80.0 billion, or approximately $62 million, was available to be drawn. (2)We entered into various short-term term loans which mature semiannually. Principal and interest are payable in monthly installments. As of December 31, 2023, $7.7 million was available to be drawn. (3)In December 2023, we borrowed ¥17.5 billion (US$123.3 million) under a new term loan agreement due December 2028, guaranteed by Amkor Technology, Inc. and our subsidiary, ATSH. Principal is due in 20 equal, quarterly installments plus accrued interest, through maturity. (4)In June 2023, Amkor Assembly & Test (Shanghai) Co. Ltd. amended all term loans to replace London Interbank Offered Rate (“LIBOR”) with a Secured Overnight Financing Rate (“SOFR”) plus 0.75% annual base rate. This contractual amendment is treated as a modification with no recognized gain or loss. (5)In December 2023, we entered into a $45.0 million term loan. Principal is payable in semiannual installments of $0.5 million, with the remaining balance due at maturity. Interest is payable quarterly. (6)In March 2022, ATT amended an existing revolving credit facility to reduce the availability from $36.0 million to $15.0 million. As of December 31, 2023, $15.0 million was available for future borrowings under such credit facility. (7)In March 2022, ATSH entered into the 2022 Singapore Revolver, which is guaranteed by Amkor Technology, Inc., ATT and AATT. The maximum borrowing capacity under the 2022 Singapore Revolver is limited to a base amount equal to the lesser of: (1) $600.0 million; or (2) $250.0 million plus a variable amount equal to 37.5% of our consolidated accounts receivable balance. As of December 31, 2023, $600.0 million was available for future borrowings under the 2022 Singapore Revolver.
Schedule of interest rates | Refer to the table above for the interest rates on our fixed-rate debt and to the table below for the interest rates on our variable-rate debt.
| December 31,
| 2023 |  | 2022
Amkor Technology Japan, Inc: |  |  |
Short-term term loans, variable rate | 0.24 | % |  | 0.29 | %
Amkor Assembly & Test (Shanghai) Co., Ltd.: |  |  |
Term loans, SOFR plus 0.75% due March 2024 | — |  |  | 5.83 | %
Term loans, SOFR plus 0.75% due June 2025 | 6.07 | % |  | 5.55 | %
Term loans, SOFR plus 0.75%, due 2025 | 6.07 | % |  | 5.48 | %
Term loans, SOFR plus 1.40%, due December 2026 | 6.76 | % |  | — |
Schedule of maturities of long-term debt | Maturities
| Total Debt
| (In thousands)
Payments due for the year ending December 31, |
2024 | $ | 131,624 |
2025 | 222,612 |
2026 | 158,655 |
2027 | 622,079 |
2028 | 74,815 |
Thereafter | — |
Total debt | $ | 1,209,785 |

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