Amkor Technology, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Amkor Technology, Inc. has filed its 2023 annual report on Form 10-K, detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

AMKOR TECHNOLOGY, INC. (AMKR) filed a Annual Report (10-K) with the SEC on February 16, 2024. Amkor Technology, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 2045 East Innovation Circle, Tempe, AZ 85284. Amkor Technology, Inc. is classified under Standard Industrial Classification 3674: Semiconductors & Related Devices. The filing was submitted on February 16, 2024.

Why It Matters

For investors and stakeholders tracking AMKOR TECHNOLOGY, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Amkor Technology's financial health, operational performance, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's value and future prospects. As a key player in the semiconductor industry, Amkor Technology's annual report offers insights into the broader trends and challenges within the semiconductor supply chain, impacting other companies in the sector.

Risk Assessment

Risk Level: medium — AMKOR TECHNOLOGY, INC. shows moderate risk based on this filing. The company operates in the highly cyclical and competitive semiconductor industry, which is subject to rapid technological changes and fluctuations in demand, as indicated by its SIC code (3674) and the nature of its business.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Amkor Technology's performance and outlook in the semiconductor market.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-16 — Filing Date (Date of submission)
• 3674 — SIC Code (Industry classification)

Key Players & Entities

• AMKOR TECHNOLOGY, INC. (company) — Filer name
• AMKR (company) — Ticker symbol
• 20231231 (date) — Fiscal year end
• 20240216 (date) — Filing date
• 2045 EAST INNOVATION CIRCLE, TEMPE, AZ 85284 (address) — Business address
• 3674 (industry_code) — Standard Industrial Classification

FAQ

Industry Context

Amkor Technology operates in the semiconductor packaging and test industry, a critical segment of the broader semiconductor manufacturing ecosystem.

Regulatory Implications

The filing is a standard 10-K annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Review the consolidated financial statements for the fiscal year ended December 31, 2023.
2. Analyze the 'Risk Factors' section for potential challenges and uncertainties.
3. Examine management's discussion and analysis of financial condition and results of operations.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-16: Filing Date — Date Amkor Technology, Inc. submitted its 10-K filing.

Year-Over-Year Comparison

This is the initial filing analyzed for the fiscal year 2023. Previous filings would provide comparative data.

Key Financial Figures

• $0.001 — ange on Which Registered Common Stock, $0.001 par value AMKR The Nasdaq Global Select

Filing Documents

• amkr-20231231.htm (10-K) — 2498KB
• amkr123123ex1021.htm (EX-10.21) — 90KB
• amkr123123ex1022.htm (EX-10.22) — 91KB
• amkr123123ex211.htm (EX-21.1) — 12KB
• amkr123123ex231.htm (EX-23.1) — 2KB
• amkr123123ex311.htm (EX-31.1) — 11KB
• amkr123123ex312.htm (EX-31.2) — 12KB
• amkr123123ex321.htm (EX-32.1) — 8KB
• amkr123123ex971.htm (EX-97.1) — 47KB
• amkr-20231231_g1.jpg (GRAPHIC) — 293KB
• 0001047127-24-000019.txt (&nbsp;) — 14176KB
• amkr-20231231.xsd (EX-101.SCH) — 72KB
• amkr-20231231_cal.xml (EX-101.CAL) — 151KB
• amkr-20231231_def.xml (EX-101.DEF) — 317KB
• amkr-20231231_lab.xml (EX-101.LAB) — 1123KB
• amkr-20231231_pre.xml (EX-101.PRE) — 715KB
• amkr-20231231_htm.xml (XML) — 2292KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 35 Item 1C. Cybersecurity 35 Item 2.

Properties

Properties 36 Item 3.

Legal Proceedings

Legal Proceedings 36 Item 4. Mine Safety Disclosures 36 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 37 Item 6. <Reserved> 38 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 39 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 50 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 93 Item 9A.

Controls and Procedures

Controls and Procedures 93 Item 9B. Other Information 94 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 94 PART III Item 10. Directors, Executive Officers and Corporate Governance 94 Item 11.

Executive Compensation

Executive Compensation 94 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 94 Item 13. Certain Relationships and Related Transactions and Director Independence 95 Item 14. Principal Accountant Fees and Services 95 PART IV Item 15. Exhibits and Financial Statement Schedules 96 Item 16. Form 10-K Summary 99

Forward-Looking Statements

Forward-Looking Statements All references to "Amkor," "we," "us," "our" or the "Company" in this Annual Report on Form 10-K (this "Form 10-K") are to Amkor Technology, Inc. and its subsidiaries. We refer to the Republic of Korea, which is also commonly known as South Korea, as "Korea." Amounts preceded by are in Japanese yen and are in Korean won. Amkor , Amkor Technology , Micro LeadFrame , and SWIFT , among others, are trademarks of Amkor Technology, Inc. All other trademarks appearing herein are held by their respective owners. Subsequent use of the above trademarks in this Form 10-K may occur without the respective superscript symbol ( and TM ) in order to facilitate the readability of this Form 10-K and are not a waiver of any rights that may be associated with the relevant trademarks. 1 Table of Contents This Form 10-K contains forward-looking statements within the meaning of the federal securities laws, including, but not limited to, statements regarding (1) the amount, timing and focus of our expected capital investments in 2024, (2) our ability to fund our operating activities and financial requirements for the next twelve months, (3) the effect of changes in revenue levels and capacity utilization on our gross margin, (4) the impact of health conditions or pandemics, such as the Covid-19 pandemic, on our operations, financial results and supply chain, (5) the focus of our research and development activities, (6) the anticipated impact of tax law changes in the jurisdictions in which we operate, (7) the grant and expiration of conditional reduced tax rates in jurisdictions in which we operate and expectations regarding our effective tax rate and the availability of tax incentives, (8) the creation or release of valuation allowances related to taxes in the future, (9) our repurchase or repayment of outstanding debt, (10) payment of dividends, (11) compliance with restrictive covenants in the indentures and agreements governing our current and future i

Business

Item 1. Business OVERVIEW Amkor is one of the world's leading providers of outsourced semiconductor packaging and test services. Amkor was a pioneer in the outsourcing of semiconductor packaging and test services, and over the years we have built a leading position by: Designing and developing innovative packaging and test technologies focused on advanced packaging solutions in high growth markets, including artificial intelligence; Building expertise in high-volume manufacturing processes and developing a reputation for high quality and solid execution; Cultivating long-standing relationships with our customers, which include many of the world's leading semiconductor companies; Collaborating with customers, foundries, original equipment manufacturers ("OEMs") and equipment and material suppliers; Focusing on strategic end markets that offer solid growth potential; Providing a geographically diverse operating base with manufacturing facilities in multiple countries across Asia and in Europe; and Developing a competitive cost structure through disciplined capital investment. Our packaging and test services are designed to meet application and chip-specific requirements, including: the required type of interconnect technology; size; thickness; and electrical, mechanical and thermal performance. We provide turnkey packaging and test services including semiconductor wafer bump, wafer probe, wafer back-grind, package design, packaging, system-level and final test and drop shipment services. Our customers use us for one or more of these services. We provide our services to integrated device manufacturers ("IDMs"), "fabless" semiconductor companies, OEMs and contract foundries. IDMs generally design, manufacture, package and test semiconductors in their own facilities. However, the availability of technologically advanced outsourced manufacturing services has encouraged IDMs to outsource a portion of their manufacturing. By offering a broad package portfolio, Am

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View this 10-K filing on SEC EDGAR