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Property, Plant and Equipment | 9 Months Ended
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Sep. 30, 2025
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | 4. Property, Plant and Equipment Property, plant and equipment as of September 30, 2025 and December 31, 2024 are comprised of the following (in thousands):
|  | September 30, 2025 |  |  | December 31, 2024 |
Buildings and related structures |  | $ | 24,750 |  |  | $ | 21,873 |
Machinery and equipment |  |  | 138,733 |  |  |  | 126,971 |
Finance lease right-of-use assets |  |  | 611 |  |  |  | 606 |
Others |  |  | 32,677 |  |  |  | 33,274 |
|  |  | 196,771 |  |  |  | 182,724 |
Less: accumulated depreciation |  |  | (128,790 | ) |  |  | (115,236 | )
Land |  |  | 11,951 |  |  |  | 11,237 |
Construction in progress |  |  | 14,986 |  |  |  | 2,738 |
Property, plant and equipment, net |  | $ | 94,918 |  |  | $ | 81,463 |
Aggregate depreciation expenses associated with continuing operations totaled $9,368 thousand and $10,750 thousand for the nine months ended September 30, 2025 and 2024, respectively. On March 26, 2024, Magnachip Semiconductor, Ltd., a Korean limited liability company (“MSK”) and indirect wholly owned subsidiary of the Company, executed a Standard Credit Agreement (together with its General Terms and Conditions, the “Loan Agreement”) with Korea Development Bank (“KDB”). In connection with the Loan Agreement, on March 26, 2024, MSK entered into a Kun-Pledge (Mortgage) Agreement (the “Pledge Agreement”) with KDB pursuant to which MSK pledged its real property and buildings located in Gumi, Korea in favor of KDB. On December 16, 2024, MSK executed a Standard Credit Agreement (as amended) (together with its General Terms and Conditions, the “Equipment Financing Credit Agreement”) with KDB. In connection with the Equipment Financing Credit Agreement, on December 8, 2024, MSK amended the Kun-Pledge Agreement (the “Equipment Pledge Agreement”) with KDB, originally executed on or about March 26, 2024, to increase the maximum secured amount and to expand the scope of collateral to include certain machinery and equipment owned by MSK, which are located in its fabrication facility located in Gumi, Korea. See “Note 11. Long-Term Borrowings” to these consolidated financial statements belo w for more information regarding the Loan Agreement.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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