SEC Filings

20-F
TOWER SEMICONDUCTOR LTD filed this Form 20-F on 04/10/2017
Entire Document
 

 
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars in thousands, except per share data)
 
NOTE 18       -      INFORMATION ON GEOGRAPHIC AREAS AND MAJOR CUSTOMERS (cont.)
 
D.
Major Customers - as Percentage of Total Revenue

   
Year ended December 31,
 
   
2016
   
2015
   
2014
 
Customer A
   
35
%
   
40
%
   
38
%
Customer B
   
12
     
13
     
9
 
Other customers *
   
14
     
6
     
14
 
 
*
Represents sales to two different customers accounted for 5% and 9% of sales during 2016, to one customer accounted for 6% of sales during 2015 and to two different customers accounted for 7% each during 2014.
 
NOTE 19       -      INTEREST EXPENSES, NET AND OTHER FINANCING EXPENSES, NET
 
A.
Interest Expense, Net

Interest expense net, for the years ended December 31, 2016, 2015 and 2014 were $11,857, $13,179 and $33,409, respectively.

B.
Other Financing Expense, Net

Other financing expense, net consist of the following:
 
   
Year ended December 31,
 
   
2016
   
2015
   
2014
 
             
 
Jazz Notes accretion and amortization
 
$
3,571
   
$
3,015
   
$
9,307
 
Jazz 2014 Exchange Agreement related financing costs, see Note 13E
   
--
     
--
     
9,817
 
Changes in fair value (total level 3 changes in fair value, see Note 14E)
   
7,900
     
16,092
     
(1,669
)
Debentures Series G amortization, rate differences and hedging results
   
1,901
     
--
     
--
 
Debentures Series F accretion and amortization including accelerated accretion, see Note 13C
   
150
     
87,973
     
39,494
 
Exchange rate differences
   
(3,768
)
   
1,056
     
(5,352
)
Others
   
2,738
     
1,794
     
3,807
 
 
$
12,492
   
$
109,930
   
$
55,404
 
 
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