XML 35 R20.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Debt | 12 Months Ended
--- | ---
Dec. 31, 2023
Debt Disclosure [Abstract] |
Debt | 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. Certain of our foreign debt is collateralized by the land, buildings, equipment and accounts receivable in the respective locations. As of December 31, 2023 the collateralized debt balance was $679.7 million, of which $326.5 million of assets were pledged as collateral. Interest Rates Interest is payable semiannually on our senior notes and quarterly or monthly on our other fixed- and variable-rate debt. 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 | % |  | — |
Compliance with Debt Covenants The debt of Amkor Technology, Inc. is structurally subordinated in right of payment to all existing and future debt and other liabilities of our subsidiaries. From time to time, Amkor Technology, Inc., ATT, AATT and ATSH guarantee certain debt of our subsidiaries. The agreements governing our indebtedness contain affirmative and negative covenants which restrict our ability to pay dividends and could restrict our operations. These restrictions are determined in part by calculations based upon cumulative net income and do not currently have a material impact on our ability to make dividend payments or stock repurchases. We were in compliance with all debt covenants at December 31, 2023 and 2022. 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 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B 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(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration