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Investment Properties | 12 Months Ended
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Dec. 31, 2024
Disclosure of detailed information about investment property [abstract] |
Investment Properties | 19. INVESTMENT PROPERTIES
|  | December 31 |
|  | 2023 |  |  | 2024 |
|  | NT$ |  |  | NT$ |
|  | (In Millions) |
Carrying amount |  |  |  |  |  |
Investment properties |  | $ | 9,805 |  |  | $ | 12,302 |
|  |  |  | Investment Properties |
|  |  |  | NT$ |
|  |  |  | (In Millions) |
Cost |  |  |  |  |
Balance on January 1, 2022 |  |  |  | $ | 10,663 |
Additions |  |  |  |  | 18 |
Reclassification |  |  |  |  | 99 |
Balance on December 31, 2022 |  |  |  | $ | 10,780 |
Accumulated depreciation and impairment |  |  |  |  |
Balance on January 1, 2022 |  |  |  | $ | (1,000 | )
Depreciation expense |  |  |  |  | (44 | )
Reversal of impairment loss |  |  |  |  | 107 |
Reclassification |  |  |  |  | (39 | )
Balance on December 31, 2021 |  |  |  | $ | (976 | )
Balance on December 31, 2021, net |  |  |  | $ | 9,804 |
Cost |  |  |  |  |
Balance on January 1, 2023 |  |  |  | $ | 10,780 |
Additions |  |  |  |  | 54 |
Reclassification |  |  |  |  | 328 |
Balance on December 31, 2023 |  |  |  | $ | 11,162 |
Accumulated depreciation and impairment |  |  |  |  |
Balance on January 1, 2023 |  |  |  | $ | (976 | )
Depreciation expense |  |  |  |  | (45 | )
Impairment loss |  |  |  |  | (336 | )
Balance on December 31, 2023 |  |  |  | $ | (1,357 | )
Balance on December 31, 2023, net |  |  |  | $ | 9,805 |
Cost |  |  |  |  |
Balance on January 1, 2024 |  |  |  | $ | 11,162 |
Additions |  |  |  |  | 4 |
Reclassification |  |  |  |  | 2,427 |
Balance on December 31, 2024 |  |  |  | $ | 13,593 |
Accumulated depreciation and impairment |  |  |  |  |
Balance on January 1, 2024 |  |  |  | $ | (1,357 | )
Depreciation expense |  |  |  |  | (45 | )
Reversal of impairment loss |  |  |  |  | 139 |
Reclassification |  |  |  |  | (28 | )
Balance on December 31, 2024 |  |  |  | $ | (1,291 | )
Balance on December 31, 2024, net |  |  |  | $ | 12,302 |
After the evaluation of land and buildings by comparing the recoverable amount which represented the fair value less costs of disposal with the carrying amount, the Company recognized reversal of impairment losses of $107 million and $139 million for the years ended December 31, 2022 and 2024, respectively, and an impairment loss of $336 million for the year ended December 31, 2023. The impairment loss and the reversal of impairment loss were included in “other income and expenses” in the consolidated statements of comprehensive income. Depreciation expense is computed using the straight-line method over the following estimated service lives:
Land improvements |  | 15-30 years
Buildings |  |
Main buildings |  | 8-60 years
Other building facilities |  | 10-35 years
The fair values of the Company’s investment properties as of December 31, 2023 and 2024 were determined by Level 3 fair value measurements inputs based on the appraisal reports conducted by independent appraisers. Those appraisal reports are based on the comparison approach, income approach or cost approach. Key assumptions and the fair values were as follows:
|  |  | December 31
|  |  | 2023 |  |  | 2024
|  |  | NT$ |  |  | NT$
|  |  | (In Millions)
Fair value |  | $ | $24,237 |  | $ | $41,285
Overall capital interest rate |  |  | 1.43%-5.51% |  |  | 1.47%-5.81%
Profit margin ratio |  |  | 10%-20% |  |  | 12%-20%
Discount rate |  |  | — |  |  | 0%-10%
Capitalization rate |  |  | 0.23%-2.28% |  |  | 1.12%-2.13%
All of the Company’s investment properties are held under freehold interest. The future aggregate lease collection under operating lease for investment properties is as follows:
|  | December 31 |
|  | 2023 |  |  | 2024 |
|  | NT$ |  |  | NT$ |
|  | (In Millions) |
Year 1 |  | $ | 168 |  |  | $ | 274 |
Year 2 |  |  | 157 |  |  |  | 248 |
Year 3 |  |  | 134 |  |  |  | 217 |
Year 4 |  |  | 105 |  |  |  | 192 |
Year 5 |  |  | 83 |  |  |  | 190 |
Onwards |  |  | 435 |  |  |  | 1,306 |
|  | $ | 1,082 |  |  | $ | 2,427 |

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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 2024-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=40&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IAS40_g74-79_TI -URIDate 2024-03-27 + Details
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