XML 45 R36.htm IDEA: XBRL DOCUMENT v3.25.3

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Details of Derivative Contracts

Details of the zero cost collar contracts as of September 30, 2025 are as follows (in thousands):

Date of transaction		Total notional amount				Month of settlement
October 17, 2024		$	9,000				October 2025 to December 2025
February 03, 2025		$	9,000				January 2026 to March 2026
July 10, 2025		$	9,000				April 2026 to June 2026
July 17, 2025		$	9,000				July 2026 to September 2026
September 30, 2025		$	27,000				January 2026 to December 2026

Details of the zero cost collar contracts as of December 31, 2024 are as follows (in thousands):

Date of transaction		Total notional amount				Month of settlement
April 05, 2024		$	9,000				January 2025 to March 2025
July 09, 2024		$	18,000				April 2025 to September 2025
October 17, 2024		$	9,000				October 2025 to December 2025

Fair Values of Outstanding Zero Cost Collar and Forward Contracts Recorded as Assets and Liabilities

The fair values of the Company’s outstanding zero cost collar contracts recorded as assets and liabilities as of September 30, 2025 and December 31, 2024 are as follows (in thousands):

Derivatives designated as hedging instruments:						September 30, 2025				December 31, 2024
Assets Derivatives:
Zero cost collars			Other current assets			$	79			$	—
Liability Derivatives:
Zero cost collars			Other current liabilities			$	693			$	1,956
Zero cost collars			Other non-current liabilities			$	94			$	—

Offsetting of Derivative Assets and Liabilities

Offsetting of derivative assets and liabilities as of September 30, 2025 is as follows (in thousands):

As of September 30, 2025		Gross amounts of recognized assets/liabilities				Gross amounts offset in the balance sheets				Net amounts of assets/liabilities presented in the balance sheets				Gross amounts not offset in the balance sheets								Net amount
														Financial instruments				Cash collateral pledged
Assets Derivatives:
Zero cost collars		$	79			$	—			$	79			$	—			$	—			$	79
Liability Derivatives:
Zero cost collars		$	787			$	—			$	787			$	—			$	—			$	787

Offsetting of derivative liabilities as of December 31, 2024 is as follows (in thousands):

As of December 31, 2024		Gross amounts of recognized liabilities				Gross amounts offset in the balance sheets				Net amounts of liabilities presented in the balance sheets				Gross amounts not offset in the balance sheets								Net amount
														Financial instruments				Cash collateral pledged
Liability Derivatives:
Zero cost collars		$	1,956			$	—			$	1,956			$	—			$	(1,080	)		$	876

Impact of Derivative Instruments on Consolidated Statement of Operations

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the three months ended September 30, 2025 and 2024 (in thousands):

Derivatives in ASC 815 Cash Flow Hedging Relationships		Amount of Gain (Loss) Recognized in AOCI on Derivatives								Location/Amount of Loss Reclassified from AOCI Into Statement of Operations												Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
		Three Months Ended September 30,												Three Months Ended September 30,												Three Months Ended September 30,
		2025				2024								2025				2024								2025				2024
Zero cost collars		$	(1,022	)		$	935				Net sales			$	—			$	(118	)			Other income, net			$	—			$	(52	)
		$	(1,022	)		$	935							$	—			$	(118	)						$	—			$	(52	)

The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the nine months ended September 30, 2025 and 2024 (in thousands):

Derivatives in ASC 815 Cash Flow Hedging Relationships		Amount of Gain (Loss) Recognized in AOCI on Derivatives								Location/Amount of Loss Reclassified from AOCI Into Statement of Operations												Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives
		Nine Months Ended September 30,												Nine Months Ended September 30,												Nine Months Ended September 30,
		2025				2024								2025				2024								2025				2024
Zero cost collars		$	731			$	(477	)			Net sales			$	(604	)		$	(704	)			Other income, net			$	(51	)		$	58
		$	731			$	(477	)						$	(604	)		$	(704	)						$	(51	)		$	58

Summary Of Cash Deposits

This cash deposit is recorded as hedge collateral on the consolidated balance sheets. Cash deposits as of September 30, 2025 and December 31, 2024 are as follows (in thousands):

Counterparty		September 30, 2025				December 31, 2024
SC		$	—			$	1,000
Total		$	—			$	1,000

X

- Definition

Offsetting Assets Liabilities [Table Text Block]

+ References

No definition available.

+ Details

Name:	mx_OffsettingAssetsLiabilitiesTableTextBlock
Namespace Prefix:	mx_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of deposit assets [Table Text Block].

+ References

No definition available.

+ Details

Name:	mx_ScheduleOfDepositAssetsTableTextBlock
Namespace Prefix:	mx_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4CC
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 182
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480401/815-10-55-182

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration