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Net Income
 12 Months Ended
Dec. 31, 2024
Analysis of income and expense [abstract]  
Net Income and Other Comprehensive Income (Loss)
32.
NET INCOME
a.
Other income and expenses

 

 

 

Year Ended December 31

 

 

 

2022

 

 

2023

 

 

2024

 

 

 

NT$

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Loss on disposal of property, plant and equipment

 

$

(5

)

 

$

—

 

 

$

(17

)

Impairment loss on property, plant and equipment

 

 

—

 

 

 

(299

)

 

 

—

 

Reversal of impairment loss / (impairment loss) on investment properties

 

 

107

 

 

 

(336

)

 

 

139

 

Impairment loss on intangible assets

 

 

(9

)

 

 

—

 

 

 

—

 

 

 

$

93

 

 

$

(635

)

 

$

122

 

 

b.
Other income

 

 

 

Year Ended December 31

 

 

 

2022

 

 

2023

 

 

2024

 

 

 

NT$

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Dividend income

 

$

157

 

 

$

167

 

 

$

240

 

Rental income

 

 

79

 

 

 

76

 

 

 

75

 

Others

 

 

133

 

 

 

139

 

 

 

148

 

 

 

$

369

 

 

$

382

 

 

$

463

 

 

 

c.
Other gains and losses

 

 

 

Year Ended December 31

 

 

 

2022

 

 

2023

 

 

2024

 

 

 

NT$

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Valuation loss on financial assets and liabilities
   at fair value through profit or loss, net

 

$

(206

)

 

$

(98

)

 

$

(147

)

Foreign currency exchange gain or loss, net

 

 

(185

)

 

 

(116

)

 

 

(22

)

Gain (loss) on disposal of investments accounted for using
   equity method, net

 

 

(14

)

 

 

6

 

 

 

85

 

Gain on disposal of financial instruments, net

 

 

1

 

 

 

—

 

 

 

1

 

Others

 

 

(14

)

 

 

(71

)

 

 

(11

)

 

 

$

(418

)

 

$

(279

)

 

$

(94

)

 

d.
Interest expenses

 

 

 

Year Ended December 31

 

 

 

2022

 

 

2023

 

 

2024

 

 

 

NT$

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Interest on bonds payable

 

$

161

 

 

$

168

 

 

$

168

 

Interest on lease liabilities

 

 

75

 

 

 

105

 

 

 

128

 

Interest paid to financial institutions

 

 

26

 

 

 

44

 

 

 

42

 

Others

 

 

1

 

 

 

2

 

 

 

1

 

 

 

$

263

 

 

$

319

 

 

$

339

 

 

e.
Impairment loss (reversal of impairment loss)

 

 

 

Year Ended December 31

 

 

 

2022

 

 

2023

 

 

2024

 

 

 

NT$

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Contract assets

 

$

1

 

 

$

2

 

 

$

3

 

Trade notes and accounts receivable

 

$

109

 

 

$

128

 

 

$

179

 

Other receivables

 

$

7

 

 

$

22

 

 

$

6

 

Inventories

 

$

34

 

 

$

23

 

 

$

60

 

Property, plant and equipment

 

$

—

 

 

$

299

 

 

$

—

 

Investment properties

 

$

(107

)

 

$

336

 

 

$

(139

)

Intangible assets

 

$

9

 

 

$

—

 

 

$

—

 

 

 

f.
Depreciation and amortization expenses

 

 

 

Year Ended December 31

 

 

 

2022

 

 

2023

 

 

2024

 

 

 

NT$

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Property, plant and equipment

 

$

28,760

 

 

$

28,839

 

 

$

28,707

 

Right-of-use assets

 

 

3,982

 

 

 

4,072

 

 

 

4,168

 

Investment properties

 

 

44

 

 

 

45

 

 

 

45

 

Intangible assets

 

 

6,643

 

 

 

6,699

 

 

 

6,699

 

Incremental costs of obtaining contracts

 

 

841

 

 

 

856

 

 

 

906

 

Total depreciation and amortization expenses

 

$

40,270

 

 

$

40,511

 

 

$

40,525

 

Depreciation expenses summarized by functions

 

 

 

 

 

 

 

 

 

Operating costs

 

$

30,735

 

 

$

30,874

 

 

$

30,770

 

Operating expenses

 

 

2,051

 

 

 

2,082

 

 

 

2,150

 

 

 

$

32,786

 

 

$

32,956

 

 

$

32,920

 

Amortization expenses summarized by functions

 

 

 

 

 

 

 

 

 

Operating costs

 

$

7,286

 

 

$

7,370

 

 

$

7,406

 

Marketing expenses

 

 

77

 

 

 

70

 

 

 

95

 

General and administrative expenses

 

 

71

 

 

 

68

 

 

 

63

 

Research and development expenses

 

 

50

 

 

 

47

 

 

 

41

 

 

 

$

7,484

 

 

$

7,555

 

 

$

7,605

 

 

g.
Employee benefit expenses

 

 

Year Ended December 31

 

 

 

2022

 

 

2023

 

 

2024

 

 

 

NT$

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Post-employment benefit

 

 

 

 

 

 

 

 

 

Defined contribution plans

 

$

862

 

 

$

963

 

 

$

1,074

 

Defined benefit plans

 

 

1,048

 

 

 

935

 

 

 

835

 

 

 

 

1,910

 

 

 

1,898

 

 

 

1,909

 

Share-based payment

 

 

 

 

 

 

 

 

 

Equity-settled share-based payment

 

 

16

 

 

 

8

 

 

 

8

 

Other employee benefit (Note)

 

 

43,746

 

 

 

44,305

 

 

 

46,964

 

Total employee benefit expenses

 

$

45,672

 

 

$

46,211

 

 

$

48,881

 

Summary by functions

 

 

 

 

 

 

 

 

 

Operating costs

 

$

21,857

 

 

$

21,858

 

 

$

22,796

 

Operating expenses

 

 

23,815

 

 

 

24,353

 

 

 

26,085

 

 

 

$

45,672

 

 

$

46,211

 

 

$

48,881

 

 

Note: Other employee benefit mainly includes salaries, compensation and labor and health insurance expenses, etc.

The amendments to the Chunghwa’s Articles of Incorporation were approved by the Chunghwa’s stockholders in their meeting on May 31, 2024. The distribution rate of employees’ compensation increased from 1.7% to 4.3% of pre-tax income to 2% to 5% of pre-tax income, while the distribution rate of directors’ remuneration remained at no higher than 0.17%. As of December 31, 2024, the payables of the employees’ compensation and the remuneration to directors were $1,932 million and $40 million, respectively. Such amounts have been approved by the Chunghwa’s Board of Directors on February 26, 2025 and will be reported to the stockholders in their meeting planned to be held on May 29, 2025.

If there is a change in the proposed amounts after the annual consolidated financial statements are authorized for issue, the difference is recorded as a change in accounting estimate.

The compensation to the employees and remuneration to the directors of 2022 and 2023 approved by the Board of Directors on February 24, 2023 and February 23, 2024, respectively, were as follows:

 

 

 

2022

 

 

2023

 

 

 

Cash

 

 

Cash

 

 

 

NT$

 

 

NT$

 

 

 

(In Millions)

 

Compensation distributed to the employees

 

$

1,498

 

 

$

1,522

 

Remuneration paid to the directors

 

 

39

 

 

 

40

 

 

There was no difference between the initial accrual amounts recognized in 2022 and 2023 and the amounts approved by in the Board of Directors in 2023 and 2024 of the aforementioned compensation to employees and the remuneration to directors.