v3.24.1
Retirement Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Text block [abstract]  
Summary of Defined Benefit Plans Amounts Included in Consolidated Balance Sheets 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
  
   
2022
    
2023
  
   
NT$
    
NT$
    
US$ (Note 4)
  
Present value of the defined benefit obligation
   $  10,261,997     $  10,193,848     $    332,915  
Fair value of the plan assets
     (6,477,877 )      (6,617,058 )      (216,103 ) 
 
 
 
    
 
 
    
 
 
  
Present value of unfunded defined benefit obligation
     3,784,120       3,576,790       116,812  
Recorded under other payables
     (88,983 )      (20,281 )      (662 ) 
Recorded under other
non-current
assets
     248,843       181,844       5,939  
 
 
 
    
 
 
    
 
 
  
Net defined benefit liabilities
   $ 3,943,980     $ 3,738,353     $ 122,089  
 
 
 
    
 
 
    
 
 
  
Summary of Movements in Net Defined Benefit Liability (Asset)
Movements in net defined benefit liabilities were as follows:
 
            
            
            
   
Present Value

of the Defined

Benefit

Obligation
    
Fair Value of the

Plan Assets
    
Net Defined

Benefit

Liabilities

(Assets)
  
   
NT$
    
NT$
    
NT$
  
Balance at January 1, 2021
  
$
   12,159,145
 
  
$
(5,962,305
) 
  
$
6,196,840
 
 
 
 
    
 
 
    
 
 
  
Service cost
      
Current service cost
  
 
173,307
 
  
 
— 
 
  
 
173,307
 
Past service cost and gain on settlements
  
 
(10,284
) 
  
 
— 
 
  
 
(10,284
) 
Net interest expense (income)
  
 
78,501
 
  
 
(59,761
) 
  
 
18,740
 
 
 
 
    
 
 
    
 
 
  
Recognized in profit or loss
  
 
241,524
 
  
 
(59,761
) 
  
 
181,763
 
 
 
 
    
 
 
    
 
 
  
Remeasurement
      
Return on plan assets (excluding amounts included in net interest)
  
 
— 
 
  
 
(42,636
) 
  
 
(42,636
) 
Actuarial (gain) loss
      
Changes in financial assumptions
  
 
(418,542
) 
  
 
— 
 
  
 
(418,542
) 
Experience adjustments
  
 
242,896
 
  
 
— 
 
  
 
242,896
 
Changes in demographic assumptions
  
 
160,156
 
  
 
— 
 
  
 
160,156
 
 
 
 
    
 
 
    
 
 
  
Recognized in other comprehensive income
  
 
(15,490
) 
  
 
(42,636
) 
  
 
(58,126
) 
 
 
 
    
 
 
    
 
 
  
 
 
            
            
            
 
 
Present Value

of the Defined

Benefit

Obligation
 
 
Fair Value of the

Plan Assets
 
 
Net Defined

Benefit

Liabilities

(Assets)
 
 
 
NT$
 
 
NT$
 
 
NT$
 
            
            
            
Contributions from the employer
  
$
— 
 
  
$
(542,584
) 
  
$
(542,584
) 
Benefits paid from
      
the pension fund
  
 
(556,419
) 
  
 
562,442
 
  
 
6,023
 
the Group
  
 
(80,603
) 
  
 
— 
 
  
 
(80,603
) 
Business combinations
  
 
46,291
 
  
 
— 
 
  
 
46,291
 
Exchange differences on foreign plans
  
 
(369,588
) 
  
 
181,580
 
  
 
(188,008
) 
 
 
 
    
 
 
    
 
 
  
Balance at December 31, 2021
  
 
11,424,860
 
  
 
(5,863,264
) 
  
 
5,561,596
 
 
 
 
    
 
 
    
 
 
  
Service cost
      
Current service cost
  
 
141,458
 
  
 
— 
 
  
 
141,458
 
Past service cost and gain on settlements
  
 
(100
) 
  
 
— 
 
  
 
(100
) 
Net interest expense (income)
  
 
118,489
 
  
 
(79,441
) 
  
 
39,048
 
 
 
 
    
 
 
    
 
 
  
Recognized in profit or loss
  
 
259,847
 
  
 
(79,441
) 
  
 
180,406
 
 
 
 
    
 
 
    
 
 
  
Remeasurement
      
Return on plan assets (excluding amounts included in net interest)
  
 
— 
 
  
 
(324,510
) 
  
 
(324,510
) 
Actuarial (gain) loss
      
Changes in financial assumptions
  
 
(1,053,680
) 
  
 
— 
 
  
 
(1,053,680
) 
Experience adjustments
  
 
217,658
 
  
 
— 
 
  
 
217,658
 
Changes in demographic assumptions
  
 
(507
) 
  
 
— 
 
  
 
(507
) 
 
 
 
    
 
 
    
 
 
  
Recognized in other comprehensive income
  
 
(836,529
) 
  
 
(324,510
) 
  
 
(1,161,039
) 
 
 
 
    
 
 
    
 
 
  
Contributions from the employer
  
 
— 
 
  
 
(736,508
) 
  
 
(736,508
) 
Benefits paid from
      
the pension fund
  
 
(571,930
) 
  
 
571,930
 
  
 
— 
 
the Group
  
 
(115,695
) 
  
 
— 
 
  
 
(115,695
) 
Assets extinguished on settlement
  
 
(2,920
) 
  
 
— 
 
  
 
(2,920
) 
Exchange differences on foreign plans
  
 
104,364
 
  
 
(46,084
) 
  
 
58,280
 
 
 
 
    
 
 
    
 
 
  
Balance at December 31, 2022
  
 
10,261,997
 
  
 
(6,477,877
) 
  
 
3,784,120
 
 
 
 
    
 
 
    
 
 
  
Service cost
      
Current service cost
  
 
126,956
 
  
 
— 
 
  
 
126,956
 
Past service cost and loss on settlements
  
 
1,194
 
  
 
— 
 
  
 
1,194
 
Net interest expense (income)
  
 
236,102
 
  
 
(173,994
) 
  
 
62,108
 
Other termination benefit cost
  
 
7,822
 
  
 
— 
 
  
 
7,822
 
 
 
 
    
 
 
    
 
 
  
Recognized in profit or loss
  
 
372,074
 
  
 
(173,994
) 
  
 
198,080
 
 
 
 
    
 
 
    
 
 
  
Remeasurement
      
Return on plan assets (excluding amounts included in net interest)
  
 
— 
 
  
 
(9,327
) 
  
 
(9,327
) 
Actuarial (gain) loss
      
Changes in financial assumptions
  
 
391,077
 
  
 
— 
 
  
 
391,077
 
 
 
            
            
            
 
 
Present Value

of the Defined

Benefit

Obligation
 
 
Fair Value of the

Plan Assets
 
 
Net Defined

Benefit

Liabilities

(Assets)
 
 
 
NT$
 
 
NT$
 
 
NT$
 
                                      
Experience adjustments
  
$
(309,843
) 
  
$
— 
 
  
$
(309,843
) 
Changes in demographic assumptions
  
 
(6,476
) 
  
 
— 
 
  
 
(6,476
) 
 
 
 
    
 
 
    
 
 
  
Recognized in other comprehensive income
  
 
74,758
 
  
 
(9,327
) 
  
 
65,431
 
 
 
 
    
 
 
    
 
 
  
Contributions from the employer
  
 
    — 
 
  
 
(597,870
) 
  
 
(597,870
) 
Benefits paid from
      
the pension fund
  
 
(609,975
) 
  
 
609,975
 
  
 
     — 
 
the Group
  
 
(79,659
) 
  
 
— 
 
  
 
(79,659
) 
Liabilities extinguished on settlement
  
 
(2,830
) 
  
 
— 
 
  
 
(2,830
) 
Liabilities assumed in a business combination
  
 
188,364
 
  
 
— 
 
  
 
188,364
 
Exchange differences on foreign plans
  
 
(10,881
) 
  
 
32,035
 
  
 
21,154
 
 
 
 
    
 
 
    
 
 
  
Balance at December 31, 2023
  
$
10,193,848
 
  
$
(6,617,058
) 
  
$
3,576,790
 
 
 
 
    
 
 
    
 
 
  
 
                                      
   
Present Value

of the Defined

Benefit

Obligation
    
Fair Value of the

Plan Assets
    
Net Defined

Benefit

Liabilities

(Assets)
  
   
US$ (Note 4)
    
US$ (Note 4)
    
US$ (Note 4)
  
Balance at January 1, 2023
  
$
335,140
 
  
$
(211,557
) 
  
$
   123,583
 
 
 
 
    
 
 
    
 
 
  
Service cost
      
Current service cost
  
 
4,146
 
  
 
— 
 
  
 
4,146
 
Past service cost and loss on settlements
  
 
39
 
  
 
— 
 
  
 
39
 
Net interest expense (income)
  
 
7,711
 
  
 
(5,682
) 
  
 
2,029
 
Other benefit cost
  
 
255
 
  
 
— 
 
  
 
255
 
 
 
 
    
 
 
    
 
 
  
Recognized in profit or loss
  
 
12,151
 
  
 
(5,682
) 
  
 
6,469
 
 
 
 
    
 
 
    
 
 
  
Remeasurement
      
Return on plan assets (excluding amounts included in net interest)
    
   — 
 
    
(305
) 
    
(305
) 
Actuarial (gain) loss
      
Changes in financial assumptions
  
 
12,772
 
  
 
— 
 
  
 
12,772
 
Experience adjustments
  
 
(10,119
) 
  
 
— 
 
  
 
(10,119
) 
Changes in demographic assumptions
  
 
(211
) 
  
 
— 
 
  
 
(211
) 
 
 
 
    
 
 
    
 
 
  
Recognized in other comprehensive income
  
 
2,442
 
  
 
(305
) 
  
 
2,137
 
 
 
 
    
 
 
    
 
 
  
Contributions from the employer
  
 
— 
 
  
 
(19,526
) 
  
 
(19,526
) 
Benefits paid from
      
the pension fund
  
 
(19,921
) 
  
 
19,921
 
  
 
— 
 
the Group
  
 
(2,602
) 
  
 
— 
 
  
 
(2,602
) 
 
            
            
            
 
 
Present Value

of the Defined

Benefit

Obligation
 
 
Fair Value of the

Plan Assets
 
 
Net Defined

Benefit

Liabilities

(Assets)
 
 
 
US$ (Note 4)
 
 
US$ (Note 4)
 
 
US$ (Note 4)
 
Liabilities extinguished on settlement
  
$
(92
) 
  
$
— 
 
  
$
(92
) 
Liabilities assumed in a business combination
  
 
6,152
 
  
 
— 
 
  
 
6,152
 
Exchange differences on foreign plans
  
 
(355
) 
  
 
1,046
 
  
 
691
 
 
 
 
    
 
 
    
 
 
  
Balance at December 31, 2023
  
$
   332,915
 
  
$
(216,103
) 
  
$
   116,812
 
 
 
 
    
 
 
    
 
 
  
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
  
   
2022
    
2023
  
   
NT$
    
NT$
    
US$ (Note 4)
  
Cash
   $   2,351,189     $   2,373,133     $ 77,503  
Equity instruments
     2,839,966       2,872,293       93,805  
Debt instruments
     1,079,917       1,117,087       36,482  
Others
     206,805       254,545       8,313  
 
 
 
    
 
 
    
 
 
  
Total
   $ 6,477,877     $ 6,617,058     $    216,103  
 
 
 
    
 
 
    
 
 
  
Summary of Key Assumptions Used for the Actuarial Valuations 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
  
    
2022
     
2023
  
Discount rates (%)
     
0.05-5.63
        0.16-4.91  
Expected rates of salary increase (%)
      1.00-3.96       
1.00-4.06
  
Summary of Sensitivity Analysis on Defined Obligations
   
December 31
  
   
2022
    
2023
  
   
NT$
    
NT$
    
US$ (Note 4)
  
Discount rate
      
0.5% higher
   $ (437,529 )    $ (421,758 )    $ (13,774 ) 
 
 
 
    
 
 
    
 
 
  
0.5% lower
   $ 472,595     $ 455,520     $ 14,877  
 
 
 
    
 
 
    
 
 
  
Expected rates of salary increase
      
0.5% higher
   $     444,815     $     425,080     $     13,882  
 
 
 
    
 
 
    
 
 
  
0.5% lower
   $ (416,488 )    $ (397,988 )    $ (12,998 ) 
 
 
 
    
 
 
    
 
 
  
Summary of Maturity Analysis of Undiscounted Pension Benefit Maturity analysis of undiscounted pension benefit
   
December 31
  
   
2022
    
2023
  
   
NT$
    
NT$
    
US$ (Note 4)
  
No later than 1 year
   $ 646,243     $ 675,526     $ 22,062  
Later than 1 year but not later than 5 years
     2,760,990       2,719,262       88,807  
Later than 5 years
     9,930,085       10,022,055       327,304  
 
 
 
    
 
 
    
 
 
  
  $  13,337,318     $    13,416,843     $      438,173