AMKOR TECHNOLOGY, INC. 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities LISTING ON THE NASDAQ GLOBAL SELECT MARKET Our common stock is traded on the NASDAQ Global Select Market under the symbol “AMKR”. There were approximately 126 holders of record of our common stock as of February 12, 2021. DIVIDEND POLICY In October 2020, our Board of Directors approved the initiation of a regular quarterly cash dividend on our common stock. The first quarterly dividend of $0.04 per share was paid on January 7, 2021 to stockholders of record as of December 18, 2020. 32 Table of Contents We currently anticipate that we will continue to pay quarterly cash dividends in the future. However, the payment, amount and timing of future dividends remain within the discretion of our Board of Directors and will depend upon our results of operations, financial condition, cash requirements, debt restrictions and other factors. Refer to the Liquidity section in Item 7 of this Annual Report on Form 10-K for additional information. RECENT SALES OF UNREGISTERED SECURITIES None. EQUITY COMPENSATION PLANS The information required by this item regarding equity compensation plans is set forth in Part III, Item 12 of this Annual Report on Form 10-K. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS The following table provides information regarding repurchases of our common stock during the three months ended December 31, 2020. Period Total Number of Shares Purchased (a) Average Price Paid Per Share ($) Total Number of Shares Purchased as part of Publicly Announced Plans or Programs (b) Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs ($) (b) October 1 - October 31 — $ — — $ 91,586,032 November 1 - November 30 5,425 14.64 — 91,586,032 December 1 - December 31 — — — 91,586,032 Total 5,425 $ 14.64 — (a) Represents shares of common stock surrendered to us to satisfy tax withholding obligations associated with the vesting of restricted shares issued to employees. (b) Our Board of Directors previously authorized the repurchase of up to $300.0 million of our common stock, $150.0 million in August 2011 and $150.0 million in February 2012, exclusive of any fees, commissions or other expenses. During 2020 and 2019, we made no common stock purchases, and at December 31, 2020, approximately $91.6 million was available pursuant to the stock repurchase program. 33 Table of Contents PERFORMANCE GRAPH (1) (1) The preceding Stock Performance Graph is not deemed filed with the SEC and shall not be incorporated by reference in any of our filings under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing. The following table sets forth the cumulative total returns included in the preceding Stock Performance Graph for the years ended December 31, 2015 through 2020. For the Year Ended December 31, 2015 2016 2017 2018 2019 2020 Amkor Technology, Inc. $ 100.00 $ 173.52 $ 165.30 $ 107.89 $ 213.82 $ 248.67 S&P 500 100.00 111.96 136.40 130.42 171.49 203.04 PHLX Semiconductor 100.00 139.32 195.80 183.97 300.35 461.53 34 Table of Contents Item 6. Selected Financial Data The following selected financial data should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations and our Consolidated Financial Statements in Part II, Item 7 and Item 8, respectively, of this Annual Report on Form 10-K. SELECTED HISTORICAL CONSOLIDATED FINANCIAL DATA For the Year Ended December 31, 2020 2019 2018 2017 (f) (g) 2016 (In thousands, except per share data) Income Statement Data: Net sales $ 5,050,589 $ 4,052,650 $ 4,316,466 $ 4,207,031 $ 3,927,849 Gross profit 900,814 649,439 710,565 761,079 709,891 Operating income 457,245 233,170 258,144 405,540 308,587 Loss on debt retirement (a) 3,042 8,536 1,512 4,835 — Income tax expense (b) 46,183 37,182 56,250 39,791 51,042 Net income 340,499 122,628 129,565 267,705 178,653 Net income attributable to Amkor 338,138 120,888 127,092 263,550 175,530 Net income attributable to Amkor per common share: Basic $ 1.40 $ 0.50 $ 0.53 $ 1.10 $ 0.74 Diluted $ 1.40 $ 0.50 $ 0.53 $ 1.10 $ 0.74 Other Financial Data: Depreciation and amortization $ 510,396 $ 524,177 $ 571,961 $ 581,940 $ 555,186 Payments for property, plant and equipment 553,021 472,433 547,122 550,943 650,038 Dividends declared per common share (c) 0.04 — — — — Balance Sheet Data (d): Cash and cash equivalents $ 698,002 $ 894,948 $ 681,569 $ 596,364 $ 549,518 Working capital 816,945 941,730 512,785 325,945 404,035 Total assets (e) 5,022,311 4,695,615 4,495,447 4,508,388 4,092,086 Non-current liabilities, including debt (e) 1,352,365 1,645,573 1,481,124 1,470,620 1,683,021 Total Amkor stockholders’ equity 2,325,699 1,963,739 1,830,540 1,696,276 1,383,588 (a) In April 2019, we recorded an $8.4 million loss on extinguishment related to the call premium paid and other debt related costs associated with redemption of the outstanding $525.0 million aggregate principal amount of 6.375% Senior Notes due 2022. In July 2017, we recorded a loss on debt retirement of $4.4 million relating to the partial early repayment of our 6.625% Senior Notes due 2021. (b) In 2020, income tax expense includes a $20.2 million discrete tax benefit from the recognition of deferred tax assets we expect to utilize in future years. In 2019, income tax expense includes a net $11.1 million discrete income tax charge related to changes in the valuation of certain deferred tax assets. In 2018, we recorded a $22.3 million income tax expense to complete the accounting for the impact of the Tax Act. This expense reduced our estimated net tax benefit of $41.6 million recorded in 2017, primarily due to the reversal of a valuation allowance on certain U.S. deferred tax assets as a result of the enactment of the Tax Act. (c) In October 2020, our Board of Directors approved the initiation of a regular quarterly cash dividend on our common stock. The first quarterly dividend of $0.04 per share was paid on January 7, 2021 to stockholders of record as of December 18, 2020. (d) On January 1, 2018, we retrospectively adopted Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606). The selected financial data as of December 31, 2016 was not adjusted for this new accounting standard. 35 Table of Contents (e) On January 1, 2019, we adopted ASU 2016-02, Leases (Topic 842). As of December 31, 2019, there were increases to our consolidated balance sheet of approximately $128 million for operating lease right of use assets and approximately $132 million for operating lease liabilities. (f) On May 22, 2017, we completed the purchase of Nanium. Their financial results have been included in our Consolidated Financial Statements from the date of acquisition. (g) In May 2017, we sold the land and buildings comprising our K1 factory in Korea for $142.4 million which resulted in a pre-tax gain of $108.1 million.