Company: AMKR
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001047127-25-000190
Chunk: 132

Company: AMKOR TECHNOLOGY, INC.
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 132
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 variety of factors, including the cyclical nature of the semiconductor industry and other factors discussed in Part II, Item 1A of this Form 10-Q.

Our primary source of cash and the source of funds for our operations are cash flows from operations, current cash and cash equivalents, short-term investments, borrowings under available credit facilities and proceeds from any additional 

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debt or equity financings.  Please refer to Note 7 and Note 11 to our Consolidated Financial Statements in Part 1, Item 1 of this Form 10-Q for additional information on our investments and borrowings, respectively. 

As of September 30, 2025, we had cash and cash equivalents and short-term investments of $2,110.4 million.  Included in our cash and short-term investments balances as of September 30, 2025 is $1,109.3 million held offshore by our foreign subsidiaries.  We have the ability to access cash held offshore by our foreign subsidiaries primarily through the repayment of intercompany debt obligations.  If we were to distribute this offshore cash to the United States as dividends from our foreign subsidiaries, the dividends generally would not be subject to U.S. federal income tax, but the distributions may be subject to foreign withholding and state income taxes. 

For certain accounts receivable, we use non-recourse factoring arrangements with third party financial institutions to manage our working capital and cash flows.  Under these arrangements, we sell receivables to a financial institution for cash at a discount to the face amount.  Available capacity under these arrangements is dependent on the level of our trade accounts receivable eligible to be sold, the financial institutions’ willingness to purchase such receivables and the limits provided by the financial institutions.  These factoring arrangements can be reduced or eliminated at any time due to market conditions and changes in the creditworthiness of customers.  For the nine months ended September 30, 2025 and 2024, we sold receivables totaling $88.7 million and $59.4 million, respectively, net of discounts and fees which were insignificant for the respective periods.

We operate in a capital-intensive industry.  Servicing our current and future customers may require that we incur significant operating expenses and make significant investments in equipment and facilities, which are generally made in advance of the related revenues and without firm customer commitments.  

In December 2024, we signed a Direct Funding Agreement with Commerce for the award of up to $407 million in