Company: AMKR
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001047127-25-000087
Chunk: 122

Company: AMKOR TECHNOLOGY, INC.
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 122
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4, primarily due to development projects in new advanced packaging technologies.

Other Income and Expense

For the Three Months Ended March 31,20252024Change(In thousands, except percentages)Interest expense$16,809 $16,439 $370 2.3 %Interest income(14,453)(16,796)2,343 (13.9)%Foreign currency (gain) loss, net3,760 1,545 2,215 >100%Other, net(382)(44)(338)>100%Total other expense, net$5,734 $1,144 $4,590 >100%

The components of total other expense, net have remained consistent between the three months ended March 31, 2025 and the three months ended March 31, 2024.

Income Tax Expense

For the Three Months Ended March 31,20252024Change(In thousands)Income tax expense$3,936 $12,196 $(8,260)

Income tax expense, which includes foreign withholding taxes and minimum taxes, reflects the applicable tax rates in effect in the various countries where our income is earned and is subject to volatility depending on the relative mix of earnings in each location.  Income tax expense decreased for the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily due to a decrease in income before income taxes.

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During the three months ended March 31, 2025 and 2024, our subsidiaries in Korea, Singapore and Vietnam operated under various conditional reduced tax rates.  As these conditional reduced tax rates expire, income earned in these jurisdictions will be subject to higher statutory income tax rates, which may cause our effective tax rate to increase.

See Note 4 to our Consolidated Financial Statements in Part 1, Item 1 of this Form 10-Q for additional information about our income tax expense.

Liquidity

We assess our liquidity based on our current expectations regarding sales and operating expenses, capital spending, dividend payments, stock and debt repurchases, debt service requirements, lease obligations and other funding needs.  Based on this assessment, we believe that our cash flow from operating activities, together with existing cash and cash equivalents, short-term investments and availability under our credit facilities, will be sufficient to fund our working capital, capital expenditures, dividend payments, debt service, debt repurchases and other financial requirements for at least the next 12 months.   

Our