$SIMO
Silicon Motion Technology CORP

2023 Q4 Form 20-F Financial Statement

#000119312524125110 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023 Q2
Revenue $202.4M $172.3M $140.4M
YoY Change 0.81% -31.29% -44.38%
Cost Of Revenue $113.9M $99.19M $83.94M
YoY Change 0.06% -24.68% -29.31%
Gross Profit $88.53M $73.14M $56.42M
YoY Change 1.78% -38.6% -57.78%
Gross Profit Margin 43.74% 42.44% 40.2%
Selling, General & Admin $13.81M $15.80M $13.27M
YoY Change 38.35% -3.2% -41.18%
% of Gross Profit 15.59% 21.6% 23.52%
Research & Development $56.43M $41.74M $41.34M
YoY Change 8.68% -12.54% -4.44%
% of Gross Profit 63.75% 57.07% 73.26%
Depreciation & Amortization $2.778M $8.032M $5.381M
YoY Change -43.72% 65.13% 15.05%
% of Gross Profit 3.14% 10.98% 9.54%
Operating Expenses $70.24M $57.54M $54.61M
YoY Change 13.46% -10.16% -17.03%
Operating Profit $18.29M $15.60M $1.818M
YoY Change -27.05% -71.67% -97.32%
Interest Expense $3.053M $1.221M $10.09M
YoY Change 91.41% -179.13% -653.1%
% of Operating Profit 16.69% 7.83% 555.23%
Other Income/Expense, Net $8.000K $0.00
YoY Change
Pretax Income $20.63M $16.23M $11.91M
YoY Change -22.66% -69.85% -81.76%
Income Tax -$464.0K $5.642M $868.0K
% Of Pretax Income -2.25% 34.76% 7.29%
Net Earnings $21.09M $10.59M $11.04M
YoY Change -10.38% -75.32% -78.59%
Net Earnings / Revenue 10.42% 6.14% 7.87%
Basic Earnings Per Share
Diluted Earnings Per Share $0.16 $0.32 $0.33
COMMON SHARES
Basic Shares Outstanding 133.7M
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $314.3M $295.4M $249.8M
YoY Change 35.37% 48.27% 38.9%
Cash & Equivalents $314.3M $295.4M $249.8M
Short-Term Investments
Other Short-Term Assets $67.29M $66.34M $65.40M
YoY Change 9.11% 6.32% -23.75%
Inventory $217.0M $199.0M $250.5M
Prepaid Expenses
Receivables $194.7M $193.4M $166.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $793.2M $754.1M $731.8M
YoY Change 0.68% -5.37% -5.54%
LONG-TERM ASSETS
Property, Plant & Equipment $167.4M $162.1M $157.0M
YoY Change 20.07% 21.43% 19.48%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $17.12M $17.02M $19.77M
YoY Change 84.7% 104.28% 134.23%
Other Assets $30.18M $33.67M $38.08M
YoY Change 22.56% 47.83% 69.18%
Total Long-Term Assets $214.7M $212.8M $214.8M
YoY Change 23.88% 29.28% 32.34%
TOTAL ASSETS
Total Short-Term Assets $793.2M $754.1M $731.8M
Total Long-Term Assets $214.7M $212.8M $214.8M
Total Assets $1.008B $966.9M $946.6M
YoY Change 4.86% 0.57% 1.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $55.59M $26.98M $12.53M
YoY Change 54.31% -61.86% -85.64%
Accrued Expenses $149.7M $77.50M $78.77M
YoY Change 41.57% -26.78% -31.14%
Deferred Revenue $6.438M
YoY Change -6.82%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $212.8M $130.8M $122.6M
YoY Change 15.74% -41.31% -50.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $60.46M $62.11M $64.56M
YoY Change 35.0% 40.12% 46.71%
Total Long-Term Liabilities $60.46M $62.11M $64.56M
YoY Change 35.0% 40.12% 46.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $212.8M $130.8M $122.6M
Total Long-Term Liabilities $60.46M $62.11M $64.56M
Total Liabilities $273.3M $192.9M $187.1M
YoY Change 19.51% -27.8% -35.94%
SHAREHOLDERS EQUITY
Retained Earnings $411.2M
YoY Change -3.28%
Common Stock $322.4M
YoY Change 5.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $734.7M $774.1M $759.4M
YoY Change
Total Liabilities & Shareholders Equity $1.008B $966.9M $946.6M
YoY Change 4.86% 0.57% 1.02%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $21.09M $10.59M $11.04M
YoY Change -10.38% -75.32% -78.59%
Depreciation, Depletion And Amortization $2.778M $8.032M $5.381M
YoY Change -43.72% 65.13% 15.05%
Cash From Operating Activities $40.81M $64.93M $36.04M
YoY Change 2.37% 52.27% 969.55%
INVESTING ACTIVITIES
Capital Expenditures $9.530M $17.09M $10.09M
YoY Change 24.93% -299.43% -305.06%
Acquisitions
YoY Change
Other Investing Activities $1.228M
YoY Change
Cash From Investing Activities -$9.530M -$17.09M -$10.09M
YoY Change 24.93% 99.43% 105.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -16.68M -15.00K -15.00K
YoY Change -99.91% -99.97%
NET CHANGE
Cash From Operating Activities 40.81M 64.93M 36.04M
Cash From Investing Activities -9.530M -17.09M -10.09M
Cash From Financing Activities -16.68M -15.00K -15.00K
Net Change In Cash 14.60M 47.83M 25.94M
YoY Change -54.7% 173.85% -154.01%
FREE CASH FLOW
Cash From Operating Activities $40.81M $64.93M $36.04M
Capital Expenditures $9.530M $17.09M $10.09M
Free Cash Flow $31.28M $47.84M $25.96M
YoY Change -2.97% -6.58% 213.21%

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CY2023 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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17160000
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CY2023 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
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CY2022 us-gaap Gain Loss On Termination Of Lease
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CY2023 us-gaap Gain Loss On Termination Of Lease
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UnrealizedGainLossOnInvestments
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CY2022 us-gaap Unrealized Gain Loss On Investments
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CY2023 us-gaap Unrealized Gain Loss On Investments
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CY2023 us-gaap Share Based Compensation
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CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2022 us-gaap Increase Decrease In Other Operating Assets
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CY2022 simo Increase Decrease In Notes Payable And Accounts Payable Trade
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CY2023 simo Increase Decrease In Notes Payable And Accounts Payable Trade
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CY2021 simo Increase Decrease In Refund Liabilities
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CY2022 simo Increase Decrease In Refund Liabilities
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CY2021 us-gaap Increase Decrease In Income Taxes
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-2087000
CY2023 us-gaap Increase Decrease In Income Taxes
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CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 simo Unpaid Purchase Of Property And Equipment
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CY2023Q4 simo Unpaid Purchase Of Property And Equipment
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51681000
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
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101000
CY2023Q4 us-gaap Dividends Payable Current And Noncurrent
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50147000
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CY2023 us-gaap Use Of Estimates
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<div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Use of Estimates </div></div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. The actual results could differ from those estimates. </div>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Concentration of Credit Risk and Significant Customers </div></div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Financial instruments that potentially subject the Company to a significant concentration of credit risk consist principally of cash equivalents and accounts receivable. Cash and cash equivalents are maintained with high quality financial institutions, the composition and maturities of which are regularly monitored by management. The Company believes that the concentration of credit risk in its accounts receivables is substantially mitigated by the Company’s credit evaluation process, relatively short collection terms and the high level of credit worthiness of its customers. The Company performs ongoing credit evaluations of its customers’ financial conditions and limits the amount of credit extended based upon payment history and the customer’s current credit worthiness. The Company regularly reviews the allowance for bad debt and doubtful accounts or expected losses during the accounts receivable collection process by considering factors, such as historical <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">write-off</div> and recovery experience, credit quality, age of the accounts receivable balances and current economic conditions that may affect a customer’s ability to pay. The Company also takes into account reasonable and supportable forecasts of future conditions when evaluating the adequacy of the allowance for doubtful accounts. </div> <div style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Historically, a relatively small number of customers have accounted for a significant portion of our net sales. Sales to two customers in 2021, and in 2022 and <div style="letter-spacing: 0px; top: 0px;display:inline;">three</div> customers in 2023 accounted for 10% or more of our net revenue, representing 36%, 45% and 45% of our net sales in 2021, 2022 and 2023, respectively. In 2021, the significant customers were Intel and Micron and in 2022, they were Micron and SK Hynix. In 2023, they were SK Hynix, Micron and AFASTOR. The Company’s top ten customers in 2021, 2022 and 2023 accounted for approximately 76%, 81% and 75% of net sales, respectively. </div>
CY2021 simo Number Of Customers Accounting For Ten Percent Or More Of Consolidated Revenue
NumberOfCustomersAccountingForTenPercentOrMoreOfConsolidatedRevenue
2
CY2022 simo Number Of Customers Accounting For Ten Percent Or More Of Consolidated Revenue
NumberOfCustomersAccountingForTenPercentOrMoreOfConsolidatedRevenue
2
CY2023 simo Number Of Customers Accounting For Ten Percent Or More Of Consolidated Revenue
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CY2023Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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CY2021 simo Depreciation And Amortization Of Property And Equipment
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17160000
CY2022 simo Depreciation And Amortization Of Property And Equipment
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CY2023 simo Depreciation And Amortization Of Property And Equipment
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CY2023 simo Percentage Of Income Tax Examination Minimum Likelihood Of Tax Benefits Being Realized Upon Ultimate Settlement
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405000
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CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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178000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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718000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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3917000
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AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
1322000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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2595000
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-227000
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CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2023 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
178000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
718000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
3917000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
1322000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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2223000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2023 simo Minimum Percentage Of Total Income Tax Paid
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235570000
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
287055000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
368990000
CY2022Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
206674000
CY2023Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
194721000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
569000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
20000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1561000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
540000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
569000
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-21000
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
29000
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-549000
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1000000
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
540000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
569000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
20000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
98307000
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
61336000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
111530000
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
86930000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
78127000
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
68684000
CY2022Q4 simo Inventory
Inventory
287964000
CY2023Q4 simo Inventory
Inventory
216950000
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
5689000
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
15833000
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
7920000
CY2022Q4 us-gaap Long Term Investments
LongTermInvestments
9267000
CY2023Q4 us-gaap Long Term Investments
LongTermInvestments
17116000
CY2022 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
896000
CY2023 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
8002000
CY2022Q4 us-gaap Land
Land
68243000
CY2023Q4 us-gaap Land
Land
67640000
CY2022Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
29314000
CY2023Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
28668000
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
56995000
CY2023Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
61997000
CY2022Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
8737000
CY2023Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
9104000
CY2022Q4 simo Building And Leasehold Improvements Gross
BuildingAndLeaseholdImprovementsGross
9057000
CY2023Q4 simo Building And Leasehold Improvements Gross
BuildingAndLeaseholdImprovementsGross
8360000
CY2022Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
45333000
CY2023Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
56241000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
217679000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
232010000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
98164000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
112654000
CY2022 simo Prepayment For Construction In Progress
PrepaymentForConstructionInProgress
19919000
CY2023 simo Prepayment For Construction In Progress
PrepaymentForConstructionInProgress
48061000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
139434000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
167417000
CY2021 simo Operating Leases Income Statement Lease Revenues
OperatingLeasesIncomeStatementLeaseRevenues
44000
CY2022 simo Operating Leases Income Statement Lease Revenues
OperatingLeasesIncomeStatementLeaseRevenues
44000
CY2023 simo Operating Leases Income Statement Lease Revenues
OperatingLeasesIncomeStatementLeaseRevenues
36000
CY2022Q4 us-gaap Property Subject To Or Available For Operating Lease Net
PropertySubjectToOrAvailableForOperatingLeaseNet
617000
CY2023Q4 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
594000
CY2022 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
40000000
CY2022Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0455
CY2021 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
0
CY2022 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
71000
CY2023 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
0
CY2022 simo Customer Refund Liability Current Beginning Balance
CustomerRefundLiabilityCurrentBeginningBalance
3882000
CY2023 simo Customer Refund Liability Current Beginning Balance
CustomerRefundLiabilityCurrentBeginningBalance
6471000
CY2022 simo Additions Charged To Expense Net
AdditionsChargedToExpenseNet
19196000
CY2023 simo Additions Charged To Expense Net
AdditionsChargedToExpenseNet
5780000
CY2022 simo Sales Return And Discounts
SalesReturnAndDiscounts
-16607000
CY2023 simo Sales Return And Discounts
SalesReturnAndDiscounts
-8922000
CY2022Q4 simo Customer Refund Liability Current Ending Balance
CustomerRefundLiabilityCurrentEndingBalance
6471000
CY2023Q4 simo Customer Refund Liability Current Ending Balance
CustomerRefundLiabilityCurrentEndingBalance
3329000
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
53987000
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
37881000
CY2022Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
691000
CY2023Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
50838000
CY2022Q4 simo Accrued Licenses Current
AccruedLicensesCurrent
7145000
CY2023Q4 simo Accrued Licenses Current
AccruedLicensesCurrent
9922000
CY2022Q4 simo Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
9355000
CY2023Q4 simo Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
15953000
CY2022Q4 simo Accrued Fixture Current
AccruedFixtureCurrent
1683000
CY2023Q4 simo Accrued Fixture Current
AccruedFixtureCurrent
2228000
CY2022Q4 simo Accrued Lease Liability Current
AccruedLeaseLiabilityCurrent
3204000
CY2023Q4 simo Accrued Lease Liability Current
AccruedLeaseLiabilityCurrent
2343000
CY2022Q4 simo Accrued Property And Equipment Current
AccruedPropertyAndEquipmentCurrent
2311000
CY2023Q4 simo Accrued Property And Equipment Current
AccruedPropertyAndEquipmentCurrent
1523000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3986000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
8380000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6909000
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6438000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
9989000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
10845000
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
99260000
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
146351000
CY2020Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
1716000
CY2021Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
1803000
CY2022Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
244000
CY2021 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
35000
CY2022 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
13000
CY2023 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
19000
CY2021 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
20000
CY2022 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
14000
CY2023 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
8000
CY2021 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
-142000
CY2022 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
205000
CY2023 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
252000
CY2021 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
110000
CY2022 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
1236000
CY2023 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
0
CY2021 us-gaap Defined Benefit Plan Settlements Benefit Obligation
DefinedBenefitPlanSettlementsBenefitObligation
0
CY2022 us-gaap Defined Benefit Plan Settlements Benefit Obligation
DefinedBenefitPlanSettlementsBenefitObligation
-145000
CY2023 us-gaap Defined Benefit Plan Settlements Benefit Obligation
DefinedBenefitPlanSettlementsBenefitObligation
0
CY2021Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
1803000
CY2022Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
244000
CY2023Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
19000
CY2020Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
1551000
CY2021Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
1639000
CY2022Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
552000
CY2021 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
48000
CY2022 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
120000
CY2023 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
37000
CY2021 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
70000
CY2022 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
50000
CY2023 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0
CY2021 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
30000
CY2022 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
1257000
CY2023 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
0
CY2021Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
1639000
CY2022Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
552000
CY2023Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
589000
CY2021Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
-164000
CY2022Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
308000
CY2023Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
570000
CY2021Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesAfterTax
-718000
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesAfterTax
-1322000
CY2023Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesAfterTax
-1070000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
718000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
1322000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
1070000
CY2021Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
1085000
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
162000
CY2021 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
35000
CY2022 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
13000
CY2023 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
19000
CY2021 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
20000
CY2022 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
14000
CY2023 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
8000
CY2021 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
33000
CY2022 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
30000
CY2023 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
17000
CY2021 simo Defined Benefit Plan Amortization Of Unrecognized Gains Losses
DefinedBenefitPlanAmortizationOfUnrecognizedGainsLosses
34000
CY2022 simo Defined Benefit Plan Amortization Of Unrecognized Gains Losses
DefinedBenefitPlanAmortizationOfUnrecognizedGainsLosses
35000
CY2023 simo Defined Benefit Plan Amortization Of Unrecognized Gains Losses
DefinedBenefitPlanAmortizationOfUnrecognizedGainsLosses
24000
CY2021 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
0
CY2022 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
-156000
CY2023 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
0
CY2021 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
56000
CY2022 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
188000
CY2023 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
34000
CY2021 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
36000
CY2022 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
-604000
CY2023 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
252000
CY2021 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-36000
CY2022 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
604000
CY2023 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-252000
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths
17000
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo
5000
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
5000
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
5000
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
5000
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
101000
CY2021Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.0075
CY2022Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.0175
CY2023Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.0141
CY2021Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease
0.04
CY2022Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease
0.045
CY2023Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease
0.04
CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0075
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0175
CY2023 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0141
CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.02
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.03
CY2023 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.03
CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease
0.04
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease
0.045
CY2023 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease
0.04
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-22847000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-39449000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-17082000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
270111000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
252027000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
78130000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
247264000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
212578000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
61048000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
49005000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
42594000
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
7747000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1743000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2526000
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
428000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
47262000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40068000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8175000
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.191
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.188
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.134
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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Office Building Construction On February 18, 2021, the Company won a bid with a third-party to build an office building in Taipei and entered into a property development agreement in May 2021, at which time it delivered a US$5,322 thousand performance bond secured by a certificate of deposit. Based on the terms of the property development agreement, the Company is required to complete construction within three years after the construction license is approved. As of the date of this annual report, the government has yet to approve the construction license required for the project. Litigation On June 2, 2023, the Company was named as a defendant in a patent infringement lawsuit which was filed by Unification Technologies LLC in the United States District Court for the Eastern District of Texas, Marshall Divisions. After the Company filed an inter partes review petition to invalidate one of the asserted patents on December 18, 2023, the Company reached a mutually agreed settlement with Unification Technologies LLC., which provides for payment by the Company is not expected to a material adverse effect on our business, results of operations, financial position or cash flow. The terms and conditions of the settlement are confidential under this agreement and subject to a nondisclosure obligation.On August 10, 2023, a customer of the Company’s subsidiary, Bigtera (Beijing) Ltd., filed a lawsuit in Beijing Chaoyang District Court against Bigtera (Beijing) Ltd., asserting that Bigtera (Beijing) Ltd. is in breach of its two purchase contracts with the said customer due to ceasing its operation. Beijing Chaoyang District Court accepted this case, but no court date has been scheduled so far. The ultimate outcome cannot be reasonably estimated at the current stage. On October 5, 2023, we filed a claim in the SIAC against MaxLinear for breaching the Merger Agreement. In the arbitration, we are seeking payment of the termination fee of US$160 million, together with further   substantial damages, interests, and costs. However, in the event that an award is handed down in favor of the Company there is a risk that it will not be able to collect the award due to MaxLinear’s financial condition. In addition, there is a risk that if the Company does not prevail on some or all of its claims, there is a risk that it can be required to pay some or all of MaxLinear’s legal fees and costs. The arbitration tribunal has been constituted, a procedural timetable has been issued and a hearing has been fixed for October 2025. Under the SIAC Arbitration Rules, all matters relating to the proceeding are confidential.On November 20, 2023, MaxLinear filed its defense to the aforementioned claims, asserting that the Company breached the Merger Agreement because its business allegedly sustained a material adverse effect and it failed to operate its business in the ordinary course. MaxLinear also asserted a claim for fraud, alleging that the projections that it was provided prior to entering into the Merger Agreement were inflated. MaxLinear seeks damages in an unspecified amount. The Company believes that the claims are meritless. The ultimate outcome cannot be reasonably estimated at the current stage.
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5322000
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June 2, 2023
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