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Fair Value Information | 12 Months Ended
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Dec. 31, 2024
Disclosure Of Fair Value Measurement Of Financial Instruments [Abstract] |
Fair Value Information | 39. FAIR VALUE INFORMATION The fair value measurement guidance establishes a framework for measuring fair value and expands disclosure about fair value measurements. The standard describes a fair value hierarchy based on three levels of inputs that may be used to measure fair value. These levels are: Level 1 fair value measurements: These measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 fair value measurements: These measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). Level 3 fair value measurements: These measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs). a. Financial instruments that are not measured at fair value but for which fair value is disclosed Except those listed in the table below, the Company considers that the carrying amounts of financial assets and liabilities not measured at fair value approximate their fair values.
|  | December 31, 2023 |  |  | December 31, 2024 |
|  | Carrying Value |  |  | Fair Value |  |  | Carrying Value |  |  | Fair Value |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |
Financial assets at amortized cost |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | — |  |  | $ | — |  |  | $ | 2,000 |  |  | $ | 2,002 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |
Financial liabilities at amortized cost |  |  |  |  |  |  |  |  |  |  |  |
Bonds payable |  | $ | 30,483 |  |  | $ | 30,469 |  |  | $ | 30,488 |  |  | $ | 30,485 |
The fair value of bonds is measured using Level 2 inputs. The valuation of fair value is based on the quoted market prices provided by third party pricing services. b. Financial instruments that are measured at fair value on a recurring basis December 31, 2023
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial assets at FVTPL |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Listed stocks |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-listed stocks |  |  | — |  |  |  | — |  |  |  | 793 |  |  |  | 793 |
Limited partnership |  |  | — |  |  |  | — |  |  |  | 219 |  |  |  | 219 |
Other investing agreements |  |  | — |  |  |  | — |  |  |  | 24 |  |  |  | 24 |
|  | $ | — |  |  | $ | 1 |  |  | $ | 1,036 |  |  | $ | 1,037 |
Financial assets at FVOCI |  |  |  |  |  |  |  |  |  |  |  |
Listed and emerging stocks |  | $ | 243 |  |  | $ | — |  |  | $ | — |  |  | $ | 243 |
Non-listed stocks |  |  | — |  |  |  | — |  |  |  | 4,169 |  |  |  | 4,169 |
|  | $ | 243 |  |  | $ | — |  |  | $ | 4,169 |  |  | $ | 4,412 |
Hedging financial liabilities |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
December 31, 2024
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial assets at FVTPL |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Non-listed stocks |  |  | — |  |  |  | — |  |  |  | 661 |  |  |  | 661 |
Limited partnership |  |  | — |  |  |  | — |  |  |  | 307 |  |  |  | 307 |
Other investing agreements |  |  | — |  |  |  | — |  |  |  | 37 |  |  |  | 37 |
|  | $ | — |  |  | $ | — |  |  | $ | 1,005 |  |  | $ | 1,005 |
Financial assets at FVOCI |  |  |  |  |  |  |  |  |  |  |  |
Listed and emerging stocks |  | $ | 126 |  |  | $ | — |  |  | $ | — |  |  | $ | 126 |
Non-listed stocks |  |  | — |  |  |  | — |  |  |  | 4,541 |  |  |  | 4,541 |
|  | $ | 126 |  |  | $ | — |  |  | $ | 4,541 |  |  | $ | 4,667 |
Hedging financial assets |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Hedging financial liabilities |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |
There were no transfers between Levels 1 and 2 for the years ended December 31, 2022, 2023 and 2024. The reconciliations for financial assets measured at Level 3 were listed below: 2022
Financial Assets |  | Measured at Fair Value through Profit or Loss |  |  | Measured at Fair Value through Other Comprehensive Income |  |  | Total |
|  | NT$ |  |  | NT$ |  |  | NT$ |
|  |  |  |  | (In Millions) |  |  |  |
Balance at January 1, 2022 |  | $ | 909 |  |  | $ | 3,157 |  |  | $ | 4,066 |
Acquisition |  |  | 348 |  |  |  | 16 |  |  |  | 364 |
Disposal |  |  | — |  |  |  | — |  |  |  | — |
Recognized in profit or loss under “Other gains and losses” |  |  | (215 | ) |  |  | — |  |  |  | (215 | )
Recognized in other comprehensive income under “Unrealized gain or loss on financial assets at fair value through other comprehensive income” |  |  | — |  |  |  | 52 |  |  |  | 52 |
Proceeds from capital reduction from investees |  |  | (22 | ) |  |  | (7 | ) |  |  | (29 | )
Balance at December 31, 2022 |  | $ | 1,020 |  |  | $ | 3,218 |  |  | $ | 4,238 |
Unrealized gain or loss in 2022 |  | $ | (209 | ) |  |  |  |  |  |
2023
Financial Assets |  | Measured at Fair Value through Profit or Loss |  |  | Measured at Fair Value through Other Comprehensive Income |  |  | Total |
|  | NT$ |  |  | NT$ |  |  | NT$ |
|  |  |  |  | (In Millions) |  |  |  |
Balance at January 1, 2023 |  | $ | 1,020 |  |  | $ | 3,218 |  |  | $ | 4,238 |
Acquisition |  |  | 133 |  |  |  | 305 |  |  |  | 438 |
Recognized in profit or loss under “Other gains and losses” |  |  | (95 | ) |  |  | — |  |  |  | (95 | )
Recognized in other comprehensive income under “Unrealized gain or loss on financial assets at fair value through other comprehensive income” |  |  | — |  |  |  | 649 |  |  |  | 649 |
Proceeds from capital reduction from investees and profit distribution |  |  | (22 | ) |  |  | (3 | ) |  |  | (25 | )
Balance at December 31, 2023 |  | $ | 1,036 |  |  | $ | 4,169 |  |  | $ | 5,205 |
Unrealized gain or loss in 2023 |  | $ | (95 | ) |  |  |  |  |  |
2024
Financial Assets |  | Measured at Fair Value through Profit or Loss |  |  | Measured at Fair Value through Other Comprehensive Income |  |  | Total |
|  | NT$ |  |  | NT$ |  |  | NT$ |
|  |  |  |  | (In Millions) |  |  |  |
Balance at January 1, 2024 |  | $ | 1,036 |  |  | $ | 4,169 |  |  | $ | 5,205 |
Acquisition |  |  | 159 |  |  |  | 313 |  |  |  | 472 |
Recognized in profit or loss under “Other gains and losses” |  |  | (147 | ) |  |  | — |  |  |  | (147 | )
Recognized in other comprehensive income under “Unrealized gain or loss on financial assets at fair value through other comprehensive income” |  |  | — |  |  |  | 62 |  |  |  | 62 |
Proceeds from capital reduction from investees and profit distribution |  |  | (43 | ) |  |  | (3 | ) |  |  | (46 | )
Balance at December 31, 2024 |  | $ | 1,005 |  |  | $ | 4,541 |  |  | $ | 5,546 |
Unrealized gain or loss in 2024 |  | $ | (143 | ) |  |  |  |  |  |
The fair values of financial assets and financial liabilities of Level 2 are determined as follows: 1) The fair values of financial assets and financial liabilities with standard terms and conditions and traded in active markets are determined with reference to quoted market prices. 2) For derivatives, fair values are estimated using discounted cash flow model. Future cash flows are estimated based on observable inputs including forward exchange rates at the end of the reporting periods and the forward and spot exchange rates stated in the contracts, discounted at a rate that reflects the credit risk of various counterparties. The fair values of non-listed domestic and foreign equity investments and film and drama investing agreements were Level 3 financial assets and determined using the market approach by reference the Price-to-Book ratios (P/B ratios) of peer companies that traded in active markets, using the income approach, in which the discounted cash flow is used to capture the present value of the expected future economic benefits to be derived from the investments, or using assets approach. The significant unobservable inputs used were listed in the below table. An increase in growth rate of long-term revenue, a decrease in discount for the lack of marketability or noncontrolling interests discount, or a decrease in the discount rate would result in increases in the fair values.
|  | December 31
|  | 2023 |  | 2024
Discount for lack of marketability |  | 3.75%-20.00% |  | 20.00%-30.00%
Noncontrolling interests discount |  | 17.01%-25.00% |  | 15.00%-29.04%
Growth rate of long-term revenue |  | 0.19% |  | 0.12%
Discount rate |  | 7.11%-8.20% |  | 8.32%-14.40%
If the inputs to the valuation model were changed to reflect reasonably possible alternative assumptions while all the other variables were held constant, the fair values of Level 3 financial assets would increase (decrease) as below table.
|  | December 31 |
|  | 2023 |  |  | 2024 |
|  | NT$ |  |  | NT$ |
|  | (In Millions) |
Discount for lack of marketability |  |  |  |  |  |
5% increase |  | $ | (49 | ) |  | $ | (63 | )
5% decrease |  | $ | 45 |  |  | $ | 63 |
Noncontrolling interests discount |  |  |  |  |  |
5% increase |  | $ | (22 | ) |  | $ | (51 | )
5% decrease |  | $ | 22 |  |  | $ | 51 |
Growth rate of long-term revenue |  |  |  |  |  |
0.1% increase |  | $ | 35 |  |  | $ | 31 |
0.1% decrease |  | $ | (35 | ) |  | $ | (31 | )
Discount rate |  |  |  |  |  |
1% increase |  | $ | (396 | ) |  | $ | (363 | )
1% decrease |  | $ | 488 |  |  | $ | 439 |

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