| Summary of Changes in Liabilities Attributable to Financing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Leases |
|
|
Nordic Bonds |
|
|
Liabilities
to credit
institutions |
|
|
Convertible Notes |
|
|
Total |
|
Balance at January 1, 2023 |
|
|
99,108 |
|
|
|
— |
|
|
|
52,590 |
|
|
|
— |
|
|
|
151,698 |
|
Cash flows |
|
|
(11,411 |
) |
|
|
— |
|
|
|
61,985 |
|
|
|
324,950 |
|
|
|
375,524 |
|
Non-cash flows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Addition – leases |
|
|
21,341 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
21,341 |
|
Foreign exchange adjustments |
|
|
2,844 |
|
|
|
— |
|
|
|
407 |
|
|
|
— |
|
|
|
3,251 |
|
Fair value changes (including interest expenses) recognized in the consolidated statement of operations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(74,078 |
) |
|
|
(74,078 |
) |
Change in fair value recognized in consolidated statement of comprehensive loss |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
72,656 |
|
|
|
72,656 |
|
Remeasurement - leases(1) |
|
|
(17,886 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(17,886 |
) |
Other changes |
|
|
(4,994 |
) |
|
|
— |
|
|
|
5,323 |
|
|
|
— |
|
|
|
329 |
|
Balance at December 31, 2023 |
|
|
89,002 |
|
|
|
— |
|
|
|
120,305 |
|
|
|
323,528 |
|
|
|
532,835 |
|
Cash flows |
|
|
(19,645 |
) |
|
|
— |
|
|
|
(2,678 |
) |
|
|
— |
|
|
|
(22,323 |
) |
Non-cash flows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Addition – leases |
|
|
2,880 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,880 |
|
Foreign exchange adjustments |
|
|
(2,027 |
) |
|
|
— |
|
|
|
840 |
|
|
|
— |
|
|
|
(1,187 |
) |
Fair value changes (including interest expenses) recognized in the consolidated statement of operations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
867 |
|
|
|
867 |
|
Cancellation - leases(2) |
|
|
(25,118 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(25,118 |
) |
Other changes |
|
|
(9 |
) |
|
|
— |
|
|
|
3,506 |
|
|
|
— |
|
|
|
3,497 |
|
Balance at December 31, 2024 |
|
|
45,083 |
|
|
|
— |
|
|
|
121,973 |
|
|
|
324,395 |
|
|
|
491,451 |
|
Cash flows |
|
|
(11,945 |
) |
|
|
175,415 |
|
|
|
(130,521 |
) |
|
|
(24,629 |
) |
|
|
8,320 |
|
Non-cash flows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Addition – leases |
|
|
1,258 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,258 |
|
Foreign exchange adjustments |
|
|
3,301 |
|
|
|
4,280 |
|
|
|
(1,745 |
) |
|
|
— |
|
|
|
5,836 |
|
Fair value changes (including interest expenses) recognized in the consolidated statement of operations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
30,739 |
|
|
|
30,739 |
|
Change in fair value recognized in consolidated statement of comprehensive loss |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
16,355 |
|
|
|
16,355 |
|
Separation of embedded derivative |
|
|
— |
|
|
|
3,075 |
|
|
|
— |
|
|
|
— |
|
|
|
3,075 |
|
Fair value change embedded derivative recognized in the consolidated statement of operations |
|
|
— |
|
|
|
72 |
|
|
|
— |
|
|
|
— |
|
|
|
72 |
|
Repurchase of U.S. Notes |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(13,715 |
) |
|
|
(13,715 |
) |
Other changes(3) |
|
|
(511 |
) |
|
|
4,217 |
|
|
|
13,138 |
|
|
|
— |
|
|
|
16,844 |
|
Balance at December 31, 2025 |
|
|
37,186 |
|
|
|
187,059 |
|
|
|
2,845 |
|
|
|
333,145 |
|
|
|
560,235 |
|
(1) Remeasurement related to change of lease term due to the decision to discontinue the construction of the production facility in Peterborough, UK. (2) Cancellation is primarily related to terminated lease contract due to the continued exit of the production facility in Peterborough, UK. (3) Other changes in liabilities to credit institutions includes transaction costs of $10.4 million that were expensed when the TLB agreement was extinguished on October 3, 2025. See Note 25 “Interest-bearing loans and borrowings” for further details.
|