| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
CASH FLOWS - OPERATING ACTIVITIES | ||||||||
NET PROFIT (LOSS) ATTRIBUTABLE TO THE COMPANY | ||||||||
- | - | - | - | - | -70,269 | -18,530 | -42,367 | -120,459 |
Net loss attributable to non controlling interest | ||||||||
- | - | - | - | - | 0 | - | - | - |
Net profit | ||||||||
301,656 | 209,166 | -29,127 | -1,372 | -107,660 | -70,269 | - | - | - |
Adjustments to reconcile net profit for the period to net cash provided by operating activities: | ||||||||
Income and expense items not involving cash flows: | ||||||||
Depreciation and amortization | ||||||||
208,411 | 197,606 | 168,032 | 203,868 | 151,711 | 173,585 | 162,679 | 143,023 | 143,404 |
Financing expense associated with debentures series F | ||||||||
0 | 150 | 87,973 | 39,494 | 13,113 | - | - | - | - |
Effect of indexation, translation and fair value measurement on debt | ||||||||
-12,865 | -8,292 | -16,078 | 3,667 | -4,091 | -13,544 | 9,312 | -26,208 | -3,131 |
Financing costs relating to Jazz notes exchange | ||||||||
- | - | - | -9,817 | 0 | 0 | - | -2,350 | 0 |
Other income, net | ||||||||
-2,627 | 9,322 | -190 | -140 | -904 | -6,831 | 15,899 | 65 | 2,045 |
Gain from acquisition, net | ||||||||
0 | 50,471 | 0 | 166,404 | 0 | 0 | 19,467 | 0 | 0 |
Changes in assets and liabilities: | ||||||||
Trade accounts receivable | ||||||||
6,564 | 30,104 | 11,115 | 24,021 | 5,194 | 6,857 | 7,686 | 28,061 | -5,256 |
Other current assets | ||||||||
8,321 | 265 | 14,978 | -49,934 | 3,647 | 843 | -3,999 | 2,316 | -4,196 |
Inventories | ||||||||
4,277 | 22,069 | 17,908 | 1,758 | 780 | -2,316 | 3,999 | 10,262 | -8,649 |
Trade accounts payable | ||||||||
-8,649 | 5,550 | -26,163 | 11,107 | 25 | -7,603 | 21,733 | -2,834 | -6,185 |
Deferred revenue and customers' advances | ||||||||
-21,803 | 23,581 | 32,725 | 1,915 | 1,202 | -4,475 | -35,858 | 16,572 | 15,435 |
Employee related liabilities and other current liabilities | ||||||||
-8,219 | -145 | 8,454 | 25,744 | -38 | -23,942 | 18,174 | 13,445 | -5,595 |
Long-term employee related liabilities | ||||||||
-3,247 | -798 | -2,036 | -2,581 | - | - | - | - | - |
Deferred tax, net | ||||||||
108,459 | 4,564 | 4,173 | 23,977 | 11,453 | -9,126 | -4,791 | -1,130 | 4,516 |
Other long-term liabilities | ||||||||
-385 | 861 | -12,739 | 7,098 | -6 | 3,840 | 7,368 | 4,622 | - |
Nishiwaki employees retirement related payments in connection with its operation cessation | ||||||||
0 | 0 | 24,907 | 27,572 | 0 | - | - | - | - |
Net cash provided by operating activities | ||||||||
- | - | - | - | - | 75,179 | 107,993 | 121,445 | - |
Nishiwaki fab closure employee related retirement cost | ||||||||
- | - | - | - | - | -20,074 | 0 | 0 | - |
Employee related liabilities and other long-term liabilities | ||||||||
- | - | - | - | - | - | - | - | -4,022 |
Net cash provided by operating activities | ||||||||
355,635 | 327,468 | 170,306 | 97,765 | 42,268 | 95,253 | 107,993 | 121,445 | 37,249 |
CASH FLOWS - INVESTING ACTIVITIES | ||||||||
Investments in property and equipment, net | ||||||||
187,676 | 217,496 | 172,078 | 95,673 | 77,044 | 103,830 | 117,166 | 105,189 | 28,066 |
Proceeds from investment realization | ||||||||
- | - | - | - | - | - | 31,400 | 0 | 0 |
Proceeds related to sale and disposal of property and equipment | ||||||||
20,038 | 7,872 | 6,589 | 45,464 | - | - | 5,751 | 600 | 0 |
Acquisition of subsidiary consolidated for the first time (a) | ||||||||
- | - | - | - | - | - | -40,000 | 0 | 0 |
Investment grants received | ||||||||
2,921 | 0 | 0 | - | - | 2,618 | 33,292 | 0 | 0 |
Deposits and other investments, including marketable securities, net | ||||||||
80,643 | 17,101 | 30,000 | -9,924 | 0 | 10,000 | -98,007 | 98,007 | 0 |
Net cash used in investing activities | ||||||||
-245,360 | -226,725 | -195,489 | 17,297 | -77,453 | -115,710 | 11,284 | -204,117 | -29,538 |
CASH FLOWS - FINANCING ACTIVITIES | ||||||||
Issuance of debentures, net | ||||||||
0 | 113,149 | 0 | 9,214 | 0 | - | - | - | - |
Exercise of warrants and options, net | ||||||||
31,315 | 38,803 | 14,424 | 10,399 | 105 | - | - | - | - |
Exercise of warrants and options, net | ||||||||
- | - | - | - | 38,851 | 104,690 | 22,653 | 158,825 | 52,922 |
Proceeds from loans | ||||||||
0 | 55,960 | 70,592 | 85,884 | 0 | 14,443 | 0 | 0 | - |
Short-term debt | ||||||||
- | - | - | - | - | 3,800 | 0 | 0 | - |
Short-term loan repayment to Panasonic | ||||||||
- | - | - | 85,884 | 0 | 0 | - | - | - |
Loans repayment | ||||||||
43,259 | 132,018 | 18,200 | 41,181 | 0 | - | - | - | - |
Principal payments on account of capital lease obligation | ||||||||
781 | 0 | 0 | - | - | - | - | - | - |
Debentures repayment | ||||||||
6,215 | 0 | 51,489 | 10,230 | 6,540 | - | - | - | - |
Dividend paid to Panasonic | ||||||||
4,378 | 2,563 | 1,570 | 0 | 0 | - | - | - | - |
Debt repayment | ||||||||
- | - | - | - | - | -55,854 | -141,242 | -57,599 | -13,670 |
Net cash provided by financing activities | ||||||||
- | - | - | -31,798 | 32,416 | 67,079 | -118,589 | - | - |
Net cash provided by (used in) financing activities | ||||||||
-23,318 | 73,331 | 13,757 | - | - | - | - | 101,226 | 39,252 |
EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGE | ||||||||
3,720 | 5,635 | -166 | -8,968 | -7,758 | -4,299 | 86 | 26 | -73 |
INCREASE IN CASH AND CASH EQUIVALENTS | ||||||||
90,677 | 179,709 | -11,592 | 74,296 | -10,527 | 22,249 | 774 | 18,580 | 46,890 |
NON-CASH ACTIVITIES: | ||||||||
Investments in property and equipment | ||||||||
28,419 | 23,747 | 18,657 | 27,495 | 11,161 | 8,737 | 15,546 | 7,896 | 5,703 |
Equity increase associated with Jazz notes exchange | ||||||||
- | - | - | 9,609 | 0 | - | - | - | - |
Equity increase arising from exchange of straight to convertible debt | ||||||||
- | - | - | - | - | 0 | - | - | - |
Conversion of debentures to share capital | ||||||||
0 | 611 | 195,726 | 34,822 | 0 | 0 | 7,006 | 37,567 | 4,101 |
Reclassification of warrant to shareholders' equity | ||||||||
- | - | - | - | - | - | - | - | 404 |
Stock based compensation to the Banks | ||||||||
- | - | - | - | - | - | - | 2,478 | 3,829 |
Beneficial conversion feature | ||||||||
- | - | - | - | - | 109,768 | 0 | 0 | - |
Shares issued to the Banks in consideration for the interest reduction, following September 2006 amendment with the Banks | ||||||||
- | - | - | - | - | - | 12,087 | 0 | 0 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||||
Cash paid during the period for interest | ||||||||
10,198 | 9,534 | 12,371 | 34,042 | 33,298 | 46,454 | 23,357 | 21,641 | 25,717 |
Cash paid during the period for income taxes, net | ||||||||
17,668 | 3,485 | 3,469 | -1,563 | 190 | 852 | 2,907 | 3,757 | 2,010 |
Working capital (excluding cash and cash equivalents) | ||||||||
0 | 10,775 | - | 32,406 | - | - | - | - | - |
Fixed assets | ||||||||
0 | 106,919 | - | 245,278 | - | - | - | - | - |
Intangible assets | ||||||||
0 | 2,799 | - | 24,520 | - | - | - | - | - |
Short-term loan | ||||||||
- | - | - | 85,249 | - | - | - | - | - |
Long-term liabilities | ||||||||
0 | 28,021 | - | 93,602 | - | - | - | - | - |
Total | ||||||||
0 | 92,472 | - | 123,353 | - | - | - | - | - |
Share capital | ||||||||
0 | 40,000 | - | 14,531 | - | - | - | - | - |
Gain from acquisition, net | ||||||||
0 | 52,472 | 0 | 166,404 | - | - | - | - | - |
Paid-in capital | ||||||||
0 | 50,471 | 0 | - | 0 | 0 | - | - | - |
Bargain purchase | ||||||||
0 | 92,472 | - | 180,935 | - | - | - | - | - |
Investments in other assets, intangible assets and others | ||||||||
- | - | - | - | 409 | 4,498 | 0 | 1,521 | 1,472 |
Cash from the acquisition of a subsidiaries consolidated for the first time | ||||||||
- | - | - | 57,582 | 0 | 0 | - | - | - |