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Retirement Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Text block [abstract]  
Summary of Defined Benefit Plans Amounts Included in Consolidated Balance Sheets
4)
The amounts included in the consolidated balance sheets arising from the Group’s obligation in respect of its defined benefit plans excluding those for executive managers were as follows:
 
 
 
December 31
 
 
2018
 
2019
 
 
NT$
 
NT$
 
US$ (Note 4)
 
 
 
 
 
 
 
Present value of the defined benefit obligation
 
$
10,297,139
 
 
$
10,668,574
 
 
$
356,689
 
Fair value of the plan assets
 
 
(5,492,123
)
 
 
(5,742,178
)
 
 
(191,982
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
       
Present value of unfunded defined benefit obligation
 
$
4,805,016
 
 
$
4,926,396
 
 
$
164,707
 
Recorded under other payables
 
 
(18,791
)
 
 
(19,014
)
 
 
(636
)
Recorded under other non-current assets
 
 
11,910
 
 
 
11,910
 
 
 
399
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net defined benefit liability
 
$
4,798,135
 
 
$
4,919,292
 
 
$
164,470
 
Summary of Movements in Net Defined Benefit Liability (Asset)
Movements in net defined benefit liability (asset) were as follows:
 
 
 
 
Present Value
of the Defined Benefit Obligation
 
Fair Value of the Plan Assets
 
Net Defined Benefit
Liability (Asset)
 
 
NT$
 
NT$
 
NT$
 
 
 
 
 
 
 
Balance at January 1, 2017
 
$
8,389,884
 
 
$
(4,417,367
)
 
$
3,972,517
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
 
 
 
 
 
 
 
 
 
 
 
 
Current service cost
 
 
278,412
 
 
 
—  
 
 
 
278,412
 
Past service cost and gain on settlements
 
 
(68,979
)
 
 
—  
 
 
 
(68,979
)
Net interest expense (income)
 
 
157,404
 
 
 
(103,741
)
 
 
53,663
 
Recognized in profit or loss
 
 
366,837
 
 
 
(103,741
)
 
 
263,096
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Remeasurement
 
 
 
 
 
 
 
 
 
 
 
 
Return on plan assets (excluding amounts included in net interest)
 
 
—  
 
 
 
52,124
 
 
 
52,124
 
Actuarial loss arising from changes in financial assumptions
 
 
56,860
 
 
 
—  
 
 
 
56,860
 
 
 
 
 
 
 
 
Present Value
 
of the Defined Benefit Obligation
 
 
Fair Value of the Plan Assets
 
Net Defined Benefit
Liability (Asset)
 
 
 
NT$
 
 
 
NT$
 
 
 
NT$
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Actuarial gain arising from experience adjustments
 
$ 
(315,090
)
 
$ 
—  
 
 
 $
(315,090
)
Actuarial loss arising from changes in demographic assumptions
 
 
762
 
 
 
—  
 
 
 
762
 
Recognized in other comprehensive income
 
 
(257,468
)
 
 
52,124
 
 
 
(205,344
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Contributions from the employer
 
 
—  
 
 
 
(484,790
)
 
 
(484,790
)
Benefits paid from the pension fund
 
 
(690,830
)
 
 
690,830
 
 
 
—  
 
Benefits paid from the Group
 
 
(96,575
)
 
 
—  
 
 
 
(96,575
)
Exchange differences on foreign plans
 
 
198,790
 
 
 
(78,429
)
 
 
120,361
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2017
 
 
7,910,638
 
 
 
(4,341,373
)
 
 
3,569,265
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
 
 
 
 
 
 
 
 
 
 
 
 
Current service cost
 
 
224,126
 
 
 
—  
 
 
 
224,126
 
Net interest expense (income)
 
 
178,779
 
 
 
(122,709
)
 
 
56,070
 
Recognized in profit or loss
 
 
402,905
 
 
 
(122,709
)
 
 
280,196
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Remeasurement
 
 
 
 
 
 
 
 
 
 
 
 
Return on plan assets (excluding amounts included in net interest)
 
 
—  
 
 
 
(16,589
)
 
 
(16,589
)
Actuarial gain arising from changes in financial assumptions
 
 
(8,643
)
 
 
—  
 
 
 
(8,643
)
Actuarial loss arising from experience adjustments
 
 
302,499
 
 
 
—  
 
 
 
302,499
 
Actuarial loss arising from changes in demographic assumptions
 
 
8,190
 
 
 
—  
 
 
 
8,190
 
Actuarial loss arising from changes in other assumptions
 
 
22,723
 
 
 
—  
 
 
 
22,723
 
Recognized in other comprehensive income
 
 
324,769
 
 
 
(16,589
)
 
 
308,180
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Contributions from the employer
 
 
—  
 
 
 
(364,237
)
 
 
(364,237
)
Benefits paid from the pension fund
 
 
(541,989
)
 
 
541,989
 
 
 
—  
 
Benefits paid from the Group
 
 
(295,953
)
 
 
—  
 
 
 
(295,953
)
Business combinations
 
 
2,522,805
 
 
 
(1,210,524
)
 
 
1,312,281
 
Exchange differences on foreign plans
 
 
(26,036
)
 
 
21,320
 
 
 
(4,716
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2018
 
 
10,297,139
 
 
 
(5,492,123
)
 
 
4,805,016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
 
 
 
 
 
 
 
 
 
 
 
 
Current service cost
 
 
211,226
 
 
 
—  
 
 
 
211,226
 
Net interest expense (income)
 
 
151,635
 
 
 
(97,387
)
 
 
54,248
 
Recognized in profit or loss
 
 
362,861
 
 
 
(97,387
)
 
 
 
265,474
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Remeasurement
 
 
 
 
 
 
 
 
 
 
 
 
Return on plan assets (excluding amounts included in net interest)
 
 
—  
 
 
 
(104,516
)
 
 
(104,516
)
Actuarial gain arising from changes in financial assumptions
 
 
398,732
 
 
 
—  
 
 
 
398,732
 
Actuarial loss arising from experience adjustments
 
 
70,374
 
 
 
—  
 
 
 
70,374
 
Actuarial loss arising from changes in demographic assumptions
 
 
(2,329
)
 
 
—  
 
 
 
(2,329
)
Recognized in other comprehensive income
 
$
466,777
 
 
$
(104,516
)
 
$
362,261
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Contributions from the employer
 
 
—  
 
 
 
(514,617
)
 
 
(514,617
)
Benefits paid from the pension fund
 
 
(393,897
)
 
 
393,897
 
 
 
—  
 
Benefits paid from the Group
 
 
(21,439
)
 
 
—  
 
 
 
(21,439
)
Business combinations
 
 
62,857
 
 
 
(28,380
)
 
 
34,477
 
Exchange differences on foreign plans
 
 
(105,724
)
 
 
100,948
 
 
 
(4,776
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2019
 
$
10,668,574
 
 
$
(5,742,178
)
 
$
4,926,396
 
 
 
 
 
 
Present Value
of the Defined Benefit Obligation
 
Fair Value of the Plan Assets
 
Net Defined Benefit
Liability (Asset)
 
 
 
US$ (Note 4)
 
 
 
US$ (Note 4)
 
 
 
US$ (Note 4)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at January 1, 2019
 
$
344,271
 
 
$
(183,621
)
 
$
160,650
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
 
 
 
 
 
 
 
 
 
 
 
 
Current service cost
 
 
7,062
 
 
 
—  
 
 
 
7,062
 
Net interest expense (income)
 
 
5,070
 
 
 
(3,256
)
 
 
1,814
 
Recognized in profit or loss
 
 
12,132
 
 
 
(3,256
)
 
 
8,876
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Remeasurement
 
 
 
 
 
 
 
 
 
 
 
 
Return on plan assets (excluding amounts included in net interest)
 
 
—  
 
 
 
(3,494
)
 
 
(3,494
)
Actuarial gain arising from changes in financial assumptions
 
 
13,331
 
 
 
—  
 
 
 
13,331
 
Actuarial loss arising from experience adjustments
 
 
2,353
 
 
 
—  
 
 
 
2,353
 
Actuarial loss arising from changes in demographic assumptions
 
 
(78
)
 
 
—  
 
 
 
(78
)
Recognized in other comprehensive income
 
 
15,606
 
 
 
(3,494
)
 
 
12,112
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Contributions from the employer
 
 
—  
 
 
 
(17,206
)
 
 
(17,206
)
Benefits paid from the pension fund
 
 
(13,169
)
 
 
13,169
 
 
 
—  
 
Benefits paid from the Group
 
 
(717
)
 
 
—  
 
 
 
(717
)
Business combinations
 
 
2,101
 
 
 
(949
)
 
 
1,152
 
Exchange differences on foreign plans
 
 
(3,535
)
 
 
3,375
 
 
 
(160
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2019
 
$
356,689
 
 
$
(191,982
)
 
$
164,707
 
 
Summary of Fair Value of the Plan Assets by Major Categories
The fair value of the plan assets by major categories at each balance sheet date was as follows:
 
 
 
December 31
 
 
2018
 
2019
 
 
NT$
 
NT$
 
US$ (Note 4)
 
 
 
 
 
 
 
Cash
 
$
2,340,903
 
 
$
2,396,657
 
 
$
80,129
 
Debt instruments
 
 
902,886
 
 
 
1,029,884
 
 
 
34,433
 
Equity instruments
 
 
2,164,895
 
 
 
2,315,637
 
 
 
77,420
 
Others
 
 
83,439
 
 
 
—  
 
 
 
—  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
5,492,123
 
 
$
5,742,178
 
 
$
191,982
 
Summary of Key Assumptions Used for the Actuarial Valuations
 
8)
The present value of the defined benefit obligation and the related current service cost and past service cost were measured using the Projected Unit Credit Method. Except the pension plans for executive managers, the key assumptions used for the actuarial valuations were as follow:
 
 
 
 
December 31
 
 
 
 
2018
 
 
 
2019
 
 
 
 
 
 
 
 
 
 
Discount rates (%)
 
 
0.05-3.02
 
 
 
0.08-2.85
 
Expected rates of salary increase (%)
 
 
1.75-4.06
 
 
 
1.00-4.01
 
 
Summary of Sensitivity Analysis on Defined Obligations
The sensitivity analysis below has been determined based on reasonably possible changes of the respective assumptions occurring at each balance sheet date, while holding all other assumptions constant.
 
 
 
December 31
 
 
2018
 
2019
 
 
NT$
 
NT$
 
US$ (Note 4)
 
 
 
 
 
 
 
Discount Rate
 
 
 
 
 
 
 
 
 
 
 
 
0.5% higher
 
$
(555,181
)
 
$
(555,266
)
 
$
(18,565
)
0.5% lower
 
$
603,089
 
 
$
601,616
 
 
$
20,114
 
Expected rates of salary increase
 
 
 
 
 
 
 
 
 
 
 
 
0.5% higher
 
$
591,712
 
 
$
591,915
 
 
$
19,790
 
0.5% lower
 
$
(547,522
)
 
$
(545,528
)
 
$
(18,239
)
Summary of Maturity Analysis of Undiscounted Pension Benefit
9)
Maturity analysis of undiscounted pension benefit
 
 
 
December 31
 
 
2018
 
2019
 
 
NT$
 
NT$
 
US$ (Note 4)
 
 
 
 
 
 
 
No later than 1 year
 
$
368,592
 
 
$
422,067
 
 
$
14,111
 
Later than 1 year but not later than 5 years
 
 
1,886,738
 
 
 
2,081,540
 
 
 
69,593
 
Later than 5 years
 
 
13,322,695
 
 
 
12,216,422
 
 
 
408,439
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
15,578,025
 
 
$
14,720,029
 
 
$
492,143