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Consolidation of Subsidiary | 12 Months Ended
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Dec. 31, 2017
Text block1 [abstract] |
Consolidation of Subsidiary |
33. | CONSOLIDATION OF SUBSIDIARY
Due to a Chinese consortium’s acquisition of OVT, major shareholders of VisEra Holding and OVT Taiwan, the Company acquired OVT’s 49.1% ownership in VisEra Holding and 100% ownership in OVT Taiwan on November 20, 2015. The related information is as follows:
| a. | Subsidiaries acquired
|  | Principal Activity |  | Date of Acquisition |  | Proportion of Voting Equity Interests Acquired (%) |  |  | Consideration Transferred NT$ (In Millions) |
VisEra Holding |  | Investing in companies involved in the design, manufacturing and other related businesses in the semiconductor industry |  | November 20, 2015 |  |  | 49.1 |  |  | $ | 3,536.1 |
OVT Taiwan |  | Investment activities |  | November 20, 2015 |  |  | 100 |  |  | $ | 394.7 |
| b. | Considerations transferred
|  | VisEra Holding |  |  | OVT Taiwan |
|  | NT$ |  |  | NT$ |
|  | (In Millions) |  |  | (In Millions) |
Cash |  | $ | 3,536.1 |  |  | $ | 394.7 |
| c. | Assets acquired and liabilities assumed at the date of acquisition
|  | VisEra Holding |  |  | OVT Taiwan |
|  | NT$ |  |  | NT$ |
|  | (In Millions) |  |  | (In Millions) |
Current assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 3,858.5 |  |  | $ | 20.7 |
Accounts receivable |  |  | 512.0 |  |  |  | — |
Inventories |  |  | 59.1 |  |  |  | — |
Other financial assets |  |  | 706.5 |  |  |  | 373.8 |
Other current assets |  |  | 26.4 |  |  |  | 0.2 |
Noncurrent assets |  |  |  |  |  |  |  |
Investments accounted for using equity method |  |  | 721.6 |  |  |  | — |
Property, plant and equipment |  |  | 2,651.2 |  |  |  | — |
Intangible assets |  |  | 12.1 |  |  |  | — |
Deferred income tax assets |  |  | 30.0 |  |  |  | — |
Refundable deposits |  |  | 15.6 |  |  |  | — |
|  |  | 8,593.0 |  |  |  | 394.7 |
|  | VisEra Holding |  |  | OVT Taiwan |
|  | NT$ |  |  | NT$ |
|  | (In Millions) |  |  | (In Millions) |
Current liabilities |  |  |  |  |  |  |  |
Financial liabilities at fair value through profit or loss |  | $ | 1.0 |  |  | $ | — |
Accounts payable |  |  | 87.5 |  |  |  | — |
Salary and bonus payable |  |  | 183.1 |  |  |  | — |
Accrued profit sharing bonus to employees and compensation to directors and supervisors |  |  | 45.8 |  |  |  | — |
Payables to contractors and equipment suppliers |  |  | 132.3 |  |  |  | — |
Income tax payable |  |  | 47.9 |  |  |  | — |
Provisions |  |  | 126.0 |  |  |  | — |
Accrued expenses and other current liabilities |  |  | 102.8 |  |  |  | — |
Noncurrent liabilities |  |  |  |  |  |  |  |
Guarantee deposits |  |  | 1.3 |  |  |  | — |
|  |  | 727.7 |  |  |  | — |
Net assets |  | $ | 7,865.3 |  |  | $ | 394.7 |
| d. | Goodwill arising on acquisition
|  | VisEra Holding |  |  |  |
|  | NT$ |  |  |  |
|  | (In Millions) |  |  |  |
Consideration transferred |  | $ | 3,536.1 |  |  |  |  |
Fair value of investments previously owned |  |  | 3,458.2 |  |  |  |  |
Less: Fair value of identifiable net assets acquired |  |  | (7,865.3 | ) |  |  |  |
Non-controlling interests |  |  | 923.7 |  |  |  |  |
Goodwill arising on acquisition |  | $ | 52.7 |  |  |  |  |
| e. | Net cash outflow on acquisition of subsidiaries
|  | VisEra Holding |  |  | OVT Taiwan |
|  | NT$ |  |  | NT$ |
|  | (In Millions) |  |  | (In Millions) |
Consideration paid in cash |  | $ | 3,536.1 |  |  | $ | 394.7 |
Less: Cash and cash equivalent balances acquired |  |  | (3,858.5 | ) |  |  | (20.7 | )
|  | $ | (322.4 | ) |  | $ | 374.0 |
| f. | Impact of acquisitions on the results of the Company
The results of VisEra Holding since the acquisition date included in the consolidated statements of profit or loss and other comprehensive income for the year ended December 31, 2015 were as follows:
|  | VisEra Holding |  |  |  |
|  | NT$ |  |  |  |
|  | (In Millions) |  |  |  |
Net revenue |  | $ | 254.3 |  |  |  |  |
Net income |  | $ | 13.9 |  |  |  |  |
Had the business combination of VisEra Holding been in effect on January 1, 2015, the Company’s net revenue and net income for the year ended December 31, 2015 would have been NT$846,401.8 million and NT$302,964.4 million, respectively. This pro-forma information is for illustrative purposes only and is not necessarily an indication of revenue and results of operations of the Company that actually would have been achieved had the acquisition been completed on January 1, 2015, nor is it intended to be a projection of future results. The aforementioned pro-forma net revenue and net income were calculated based on the fair value of assets acquired and liabilities assumed at the date of acquisition.

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