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Inventories
 12 Months Ended
Dec. 31, 2023
Classes of current inventories [abstract]  
Inventories
11.
INVENTORIES

 

 

December 31

 

 

 

2022

 

 

2023

 

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Merchandise

 

$

3,978

 

 

$

4,340

 

Project in process

 

 

4,859

 

 

 

4,771

 

Work in process

 

 

98

 

 

 

74

 

Raw materials

 

 

279

 

 

 

221

 

 

 

 

9,214

 

 

 

9,406

 

Land held under development

 

 

1,999

 

 

 

1,999

 

Construction in progress

 

 

103

 

 

 

116

 

 

 

$

11,316

 

 

$

11,521

 

 

The operating costs related to inventories were $51,180 million, $49,544 million and $53,814 million for the years ended December 31, 2021, 2022 and 2023, respectively.

For the years ended December 31, 2021, 2022 and 2023, valuation loss on inventories recognized as operating costs included the amounts of $207 million, $34 million and $23 million, respectively.

As of December 31, 2022 and 2023, inventories of $2,102 million and $2,115 million, respectively, were expected to be realized from the sale after more than twelve months. The aforementioned amount of inventories is related to property development owned by LED.

Land held under development and construction in progress was mainly developed by LED for Qingshan Sec., Dayuan Dist., Taoyuan City project. The Board of Directors of LED resolved to sign a joint construction and separate sale contract with Farglory Land Development Co., Ltd. in June 2021. LED entrusts Land Bank of Taiwan to execute fund control and property right management for the land held under development.