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Investment Properties | 12 Months Ended
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Dec. 31, 2020
Disclosure Of Investment Property [Abstract] |
Investment Properties |
18. | INVESTMENT PROPERTIES
|  | December 31 |
|  | 2019 |  |  | 2020 |
|  | NT$ |  |  | NT$ |
|  | (In Millions) |
Carrying amount |  |  |  |  |  |  |  |
Investment properties |  | $ | 8,169 |  |  | $ | 9,621 |
|  |  |  | Investment Properties |
|  |  |  | NT$ |
|  |  |  | (In Millions) |
Cost |  |  |  |  |  |
Balance on January 1, 2018 |  |  |  | $ | 9,135 |
Additions |  |  |  |  | 6 |
Reclassification |  |  |  |  | 251 |
Balance on December 31, 2018 |  |  |  | $ | 9,392 |
Accumulated depreciation and impairment |  |  |  |  |  |
Balance on January 1, 2018 |  |  |  | $ | (1,087 | )
Depreciation expense |  |  |  |  | (21 | )
Reclassification |  |  |  |  | (16 | )
Reversal of impairment loss |  |  |  |  | 19 |
Balance on December 31, 2018 |  |  |  | $ | (1,105 | )
Cost |  |  |  |  |  |
Balance on January 1, 2019 |  |  |  | $ | 9,392 |
Additions |  |  |  |  | 1 |
Disposal |  |  |  |  | (6 | )
Reclassification |  |  |  |  | (173 | )
Balance on December 31, 2019 |  |  |  | $ | 9,214 |
Accumulated depreciation and impairment |  |  |  |  |  |
Balance on January 1, 2019 |  |  |  | $ | (1,105 | )
Depreciation expense |  |  |  |  | (25 | )
Disposal |  |  |  |  | 6 |
Reclassification |  |  |  |  | 22 |
Reversal of impairment loss |  |  |  |  | 57 |
Balance on December 31, 2019 |  |  |  | $ | (1,045 | )
Cost |  |  |  |  |  |
Balance on January 1, 2020 |  |  |  | $ | 9,214 |
Additions (Note 16) |  |  |  |  | 1,359 |
Disposal |  |  |  |  | (37 | )
Reclassification |  |  |  |  | 126 |
Balance on December 31, 2020 |  |  |  | $ | 10,662 |
Accumulated depreciation and impairment |  |  |  |  |  |
Balance on January 1, 2020 |  |  |  | $ | (1,045 | )
Depreciation expense |  |  |  |  | (22 | )
Reclassification |  |  |  |  | (1 | )
Reversal of impairment loss |  |  |  |  | 27 |
Balance on December 31, 2020 |  |  |  | $ | (1,041 | )
After the evaluation of land and buildings, the Company concluded the recoverable amount which represented the fair value less costs to sell of some land and buildings was higher than the carrying amount. Therefore, the Company recognized reversal of impairment losses of $19 million, $57 million and $27 million for the years ended December 31, 2018, 2019 and 2020, respectively, and the amounts were recognized only to the extent of impairment losses that had been recognized in prior years. The reversal of impairment loss was included in other income and expenses in the statements of comprehensive income. Depreciation expense is computed using the straight-line method over the following estimated service lives:
Land improvements |  | 10-30 years
Buildings |  |
Main buildings |  | 35-60 years
Other building facilities |  | 4-10 years
The fair values of the Company’s investment properties as of December 31, 2019 and 2020 were determined by Level 3 fair value measurements inputs based on the appraisal reports conducted by independent appraisers. Those appraisal reports are based on the comparison approach, income approach or cost approach. Key assumptions and the fair values were as follows:
|  | December 31 |
|  | 2019 |  |  | 2020 |
|  | NT$ |  |  | NT$ |
|  | (In Millions) |
Fair value |  | $ | 18,701 |  |  | $ | 22,644 |
Overall capital interest rate |  | 1.03%-4.04% |  |  | 0.93%-3.03% |
Profit margin ratio |  | 12%-20% |  |  | 12%-20% |
Discount rate |  | — |  |  | — |
Capitalization rate |  | 0.79%-1.74% |  |  | 0.73%-2.20% |
All of the Company’s investment properties are held under freehold interest. The future aggregate lease collection under operating lease for investment properties is as follows:
|  | December 31 |
|  | 2019 |  |  | 2020 |
|  | NT$ |  |  | NT$ |
|  | (In Millions) |
Year 1 |  | $ | 113 |  |  | $ | 115 |
Year 2 |  |  | 91 |  |  |  | 95 |
Year 3 |  |  | 71 |  |  |  | 75 |
Year 4 |  |  | 61 |  |  |  | 53 |
Year 5 |  |  | 39 |  |  |  | 38 |
Onwards |  |  | 96 |  |  |  | 58 |
|  | $ | 471 |  |  | $ | 434 |

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- Definition The entire disclosure for investment property. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 40 -IssueDate 2020-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=40&code=ifrs-tx-2020-en-r&doctype=Standard&dita_xref=IAS40_g74-79_TI -URIDate 2020-01-01 + Details
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