0000928876 2024-01-01 2024-06-30 0000928876 us-gaap:CommonStockMember 2024-01-01 2024-06-30 0000928876 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-06-30 0000928876 us-gaap:DeferredCompensationShareBasedPaymentsMember 2024-01-01 2024-06-30 0000928876 us-gaap:RetainedEarningsMember 2024-01-01 2024-06-30 0000928876 us-gaap:ComprehensiveIncomeMember 2024-01-01 2024-06-30 0000928876 us-gaap:NoncontrollingInterestMember 2024-01-01 2024-06-30 0000928876 tsem:AccumulatedOtherComprehensiveIncomeExcludingForeignCurrencyMember 2024-01-01 2024-06-30 0000928876 us-gaap:CommonStockMember 2024-06-30 0000928876 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0000928876 us-gaap:DeferredCompensationShareBasedPaymentsMember 2024-06-30 0000928876 tsem:AccumulatedOtherComprehensiveIncomeExcludingForeignCurrencyMember 2024-06-30 0000928876 us-gaap:AccumulatedTranslationAdjustmentMember 2024-06-30 0000928876 us-gaap:RetainedEarningsMember 2024-06-30 0000928876 us-gaap:TreasuryStockCommonMember 2024-06-30 0000928876 us-gaap:NoncontrollingInterestMember 2024-06-30 0000928876 2024-06-30 0000928876 2023-12-31 0000928876 us-gaap:NoncontrollingInterestMember 2023-12-31 0000928876 us-gaap:TreasuryStockCommonMember 2023-12-31 0000928876 us-gaap:RetainedEarningsMember 2023-12-31 0000928876 us-gaap:AccumulatedTranslationAdjustmentMember 2023-12-31 0000928876 tsem:AccumulatedOtherComprehensiveIncomeExcludingForeignCurrencyMember 2023-12-31 0000928876 us-gaap:DeferredCompensationShareBasedPaymentsMember 2023-12-31 0000928876 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0000928876 us-gaap:CommonStockMember 2023-12-31 0000928876 us-gaap:AccumulatedTranslationAdjustmentMember 2024-01-01 2024-06-30 0000928876 2023-01-01 2023-06-30 0000928876 2024-04-01 2024-06-30 0000928876 2023-04-01 2023-06-30 0000928876 2022-12-31 0000928876 2023-06-30 0000928876 tsem:TpscoMember 2024-06-30 pure shares iso4217:USD iso4217:USD shares 0000928876 false --12-31 2024-06-30 6-K 000-24790 TOWER SEMICONDUCTOR LTD. Ramat Gavriel Industrial Park P.O. Box 619 Migdal Haemek IL 2310502 265313000 260664000 903401000 790823000 65331000 184960000 165161000 154067000 276082000 282688000 35414000 35956000 1710702000 1709158000 8452000 8452000 1199191000 1155929000 11218000 12115000 32604000 32863000 2962167000 2918517000 61365000 58952000 123782000 139128000 23988000 18418000 57121000 51054000 23919000 9286000 290175000 276838000 126715000 172611000 16118000 25710000 6123000 6098000 10323000 10221000 449454000 491478000 2512713000 2427039000 2962167000 2918517000 66934000 188826000 678419000 712802000 351181000 357191000 518891000 530568000 264259000 270674000 159528000 182234000 86922000 86517000 38945000 38783000 18994000 19452000 37720000 36016000 19050000 17387000 0 50282000 0 1952000 -6270000 17776000 -6270000 1101000 70395000 42293000 31774000 35988000 89133000 139941000 55148000 50529000 11694000 10921000 7710000 3924000 100827000 150862000 62858000 54453000 1030000 20788000 6108000 5747000 99797000 130074000 56750000 48706000 1718000 7482000 3305000 -2484000 98079000 122592000 53445000 51190000 0.88 1.11 0.48 0.46 110938000 110025000 111037000 110088000 0.88 1.1 0.48 0.46 98079000 122592000 53445000 51190000 111964000 111153000 111979000 111234000 99797000 130074000 56750000 48706000 -16056000 -12818000 -7483000 -11904000 -3740000 -2727000 -2668000 -1964000 55000 -185000 28000 -93000 79946000 114714000 46571000 34931000 1718000 7482000 3305000 -2484000 78228000 107232000 43266000 37415000 110912000 443631000 1380917000 202343000 2507000 -55442000 467615000 -9072000 -5460000 2427039000 245000 1007000 -1007000 0 14711000 14711000 98079000 98079000 1718000 99797000 -16056000 -16056000 -8983000 -25039000 -3740000 -3740000 -3740000 55000 55000 55000 78228000 111157000 444638000 1379910000 217054000 -1288000 -71498000 565694000 -9072000 -12725000 2512713000 111070000 99797000 130074000 125111000 125966000 -852000 -2176000 -5993000 -666000 13943000 13828000 10313000 -976000 5959000 41105000 12818000 19830000 -4022000 -26193000 17142000 -50533000 25000 638000 -4378000 -446000 223123000 148221000 210633000 194678000 -16330000 -66809000 -194303000 -127869000 18848000 20396000 0 18493000 0 1932000 -18848000 -36957000 -5323000 -5959000 4649000 -22564000 260664000 340759000 265313000 318195000 68901000 67967000 14166000 10785000 4801000 6916000 <div> <div> <div> <div> <div> <div> <div> <div> <div> <div style="text-align:justify;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">NOTE 1</span><span>       <span style="font-weight:bold"><span style="font-weight:bold">-</span>       GENERAL</span></span></span></span> <p style="margin:0pt"> </p> </div> <div style="text-align:justify;text-indent:-31.5pt;margin-right:18pt;margin-left:103.5pt;line-height:1.25;font-family:'Times New Roman',Times,serif;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Basis for Presentation</span></span> <p style="margin:0pt"> </p> </div> <div style="text-align:justify;margin-left:72pt;line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The unaudited condensed interim consolidated financial statements of Tower Semiconductor Ltd. (“Tower”) as of June 30, 2024 include the financial statements of Tower and (i) its wholly-owned subsidiary Tower US Holdings Inc., the sole owner of: (1) Tower Semiconductor NPB Holdings, Inc. and its wholly-owned subsidiary, Tower Semiconductor Newport Beach, Inc. (collectively referred to herein as “TSNB”), (2) Tower Semiconductor San Antonio, Inc. (“TSSA”), (ii) its 51% owned subsidiary, Tower Partners Semiconductor Co., Ltd. (“TPSCo”) and (iii) its wholly-owned subsidiary, Tower Semiconductor Italy S.r.l. (“TSIT”).</span></span> <p style="margin:0pt"> </p> </div> <div style="text-align:justify;margin-left:72pt;line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The Company’s unaudited condensed interim consolidated financial statements are presented after elimination of inter-company transactions and balances and are presented in accordance with U.S. generally accepted accounting principles (“US GAAP”).</span></span> <p style="margin:0pt"> </p> </div> <div style="text-align:justify;margin-left:72pt;line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The unaudited condensed interim consolidated financial statements of the Company should be read in conjunction with the audited consolidated financial statements of the Company as of December 31, 2023 and for the year then ended, including the notes thereto.</span></span></div> <div style="text-align:justify;margin-left:72pt;line-height:1.25;font-family:'Times New Roman',Times,serif"> </div> <div style="text-align:justify;margin-left:72pt;line-height:1.25;font-family:'Times New Roman',Times,serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">In the opinion of the Company's management, the unaudited condensed interim consolidated financial statements include all adjustments necessary for a fair presentation of the Company’s financial position as of the dates presented and results of operations for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the results to be expected on a full-year basis.</span></span></div> </div> </div> </div> </div> </div> </div> </div> </div> </div> 0.51