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Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Statement [LineItems]

Categories of Financial Instruments

a. Categories of financial instruments

		December 31, 2018				December 31, 2019
		NT$				NT$
		(In Millions)				(In Millions)
Financial assets
FVTPL (Note 1)		$	3,504.6			$	326.8
FVTOCI (Note 2)			107,067.5				134,776.8
Hedging financial assets			23.5				25.9
Amortized cost (Note 3)			745,585.8				612,740.6
		$	856,181.4			$	747,870.1
Financial liabilities
FVTPL (Note 4)		$	40.8			$	982.3
Hedging financial liabilities			155.8				1.8
Amortized cost (Note 5)			318,475.8				533,581.7
		$	318,672.4			$	534,565.8

Note 1:		Financial assets mandatorily measured at FVTPL.
Note 2:		Including notes and accounts receivable (net), equity and debt investments.
Note 3:		Including cash and cash equivalents, financial assets at amortized cost, notes and accounts receivable (including related parties), other receivables and refundable deposits.
Note 4:		Held for trading.
Note 5:		Including short-term loans, accounts payable (including related parties), payables to contractors and equipment suppliers, cash dividends payable, accrued expenses and other current liabilities, bonds payable and guarantee deposits.

Summary of Current Credit Risk Assessment Policies

The Company assesses the 12-month expected credit loss and lifetime expected credit loss based on the probability of default and loss given default provided by external credit rating agencies. The current credit risk assessment policies are as follows:

Category		Description		Basis for Recognizing Expected Credit Loss		Expected Credit Loss Ratio
Performing		Credit rating on trade date and valuation date: (1)  Within investment grade (2)  Between BB+ and BB-		12 months expected credit loss		0—0.1%
Doubtful		Credit rating on trade date and valuation date: (1)  From investment grade to non-investment grade (2)  From BB+~BB— to B+~CCC-		Lifetime expected credit loss-not credit impaired		—
In default		Credit rating CC or below		Lifetime expected credit loss-credit impaired		—
Write-off		There is evidence indicating that the debtor is in severe financial difficulty and the Company has no realistic prospect of recovery		Amount is written off		—

Summary of Maturity Profile of Financial Liabilities Based on Contractual Undiscounted Payments, Including Principal and Interest

The table below summarizes the maturity profile of the Company’s financial liabilities based on contractual undiscounted payments, including principal and interest.

		Less Than 1 Year				1-3 Years				3-5 Years				More Than 5 Years				Total
		NT$				NT$				NT$				NT$				NT$
		(In Millions)				(In Millions)				(In Millions)				(In Millions)				(In Millions)
December 31, 2018
Non-derivative financial liabilities
Short-term loans		$	88,810.7			$	—			$	—			$	—			$	88,810.7
Accounts payable (including related parties)			34,357.4				—				—				—				34,357.4
Payables to contractors and equipment suppliers			43,133.7				—				—				—				43,133.7
Accrued expenses and other current liabilities			50,241.0				—				—				—				50,241.0
Bonds payable			36,039.9				35,340.8				22,979.4				—				94,360.1
Guarantee deposits (including those classified under accrued expenses and other current liabilities)			6,835.7				2,891.6				461.7				—				10,189.0
			259,418.4				38,232.4				23,441.1				—				321,091.9
Derivative financial instruments
Forward exchange contracts
Outflows			49,302.3				—				—				—				49,302.3
Inflows			(49,393.7	)			—				—				—				(49,393.7	)
			(91.4	)			—				—				—				(91.4	)
		$	259,327.0			$	38,232.4			$	23,441.1			$	—			$	321,000.5
December 31, 2019
Non-derivative financial liabilities
Short-term loans		$	118,562.6			$	—			$	—			$	—			$	118,562.6
Accounts payable (including related parties)			40,206.0				—				—				—				40,206.0
Payables to contractors and equipment suppliers			140,810.7				—				—				—				140,810.7
Accrued expenses and other current liabilities			45,760.9				—				—				—				45,760.9
Bonds payable			32,338.9				7,777.7				18,203.6				—				58,320.2
Lease liabilities (including those classified under accrued expenses and other current liabilities)			2,475.1				2,782.9				2,484.5				10,947.7				18,690.2
Guarantee deposits (including those classified under accrued expenses and other current liabilities)			1,553.0				121.0				55.5				0.4				1,729.9
			381,707.2				10,681.6				20,743.6				10,948.1				424,080.5
Derivative financial instruments
Forward exchange contracts
Outflows			141,450.8				—				—				—				141,450.8
Inflows			(141,128.9	)			—				—				—				(141,128.9	)
			321.9				—				—				—				321.9
		$	382,029.1			$	10,681.6			$	20,743.6			$	10,948.1			$	424,402.4

Summary of Additional Information About In Maturity Lease Liabilities

Additional information about the maturity analysis for lease liabilities:

Less than 5 Years

5-10 Years

10-15 Years

15-20 Years

More Than 20 Years

NT$

NT$

NT$

NT$

NT$

(In Millions)

(In Millions)

(In Millions)

(In Millions)

(In Millions)

Lease liabilities

$

7,742.5

$

5,581.1

$

3,691.3

$

1,600.9

$

74.4

Summary of Level 3 Fair Value Were Financial Assets at FVTPL and Equity Investments classified as Financial Assets at FVTOCI

The financial assets measured at Level 3 fair value were financial assets at FVTPL and equity investments classified as financial assets at FVTOCI. Reconciliations for the years ended December 31, 2018 and 2019 were as follows:

		Years Ended December 31
		2018				2019
		NT$				NT$
		(In Millions)				(In Millions)
Balance, beginning of year		$	5,841.4			$	3,910.7
Additions			212.5				372.3
Recognized in other comprehensive income			(2,141.4	)			129.5
Disposals and proceeds from return of capital of investments			(175.8	)			(76.5	)
Transfers out of level 3 (Note)			—				(43.6	)
Effect of exchange rate changes			174.0				(83.5	)
Balance, end of year		$	3,910.7			$	4,208.9

Measured at fair value on a recurring basis [member]

Statement [LineItems]

Fair Value of Financial Instruments

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis:

		December 31, 2018
		Level 1				Level 2				Level 3				Total
		NT$				NT$				NT$				NT$
		(In Millions)				(In Millions)				(In Millions)				(In Millions)
Financial assets at FVTPL
Mandatorily measured at FVTPL
Agency mortgage-backed securities		$	—			$	3,419.3			$	—			$	3,419.3
Forward exchange contracts			—				85.3				—				85.3
		$	—			$	3,504.6			$	—			$	3,504.6
Financial assets at FVTOCI
Investments in debt instruments
Corporate bonds		$	—			$	40,753.6			$	—			$	40,753.6
Agency bonds/Agency mortgage-backed securities			—				31,288.8				—				31,288.8
Asset-backed securities			—				15,670.3				—				15,670.3
Government bonds			11,006.2				145.1				—				11,151.3
Commercial paper			—				107.6				—				107.6
Investments in equity instruments
Non-publicly traded equity investments			—				—				3,910.7				3,910.7
Publicly traded stocks			590.1				—				—				590.1
Notes and accounts receivable, net			—				3,595.1				—				3,595.1
		$	11,596.3			$	91,560.5			$	3,910.7			$	107,067.5
Hedging financial assets
Cash flow hedges
Forward exchange contracts		$	—			$	23.5			$	—			$	23.5
Financial liabilities at FVTPL
Held for trading
Forward exchange contracts		$	—			$	40.8			$	—			$	40.8
Hedging financial liabilities
Fair value hedges
Interest rate futures contracts		$	153.9			$	—			$	—			$	153.9
Cash flow hedges
Forward exchange contracts			—				1.9				—				1.9
		$	153.9			$	1.9			$	—			$	155.8

		December 31, 2019
		Level 1				Level 2				Level 3				Total
		NT$				NT$				NT$				NT$
		(In Millions)				(In Millions)				(In Millions)				(In Millions)
Financial assets at FVTPL
Mandatorily measured at FVTPL
Forward exchange contracts		$	—			$	162.1			$	—			$	162.1
Convertible bonds			—				—				123.8				123.8
Agency mortgage-backed securities			—				40.9				—				40.9
		$	—			$	203.0			$	123.8			$	326.8
Financial assets at FVTOCI
Investments in debt instruments
Agency bonds/Agency mortgage-backed securities		$	—			$	51,966.5			$	—			$	51,966.5
Corporate bonds			—				51,790.0				—				51,790.0
Government bonds			12,678.1				146.1				—				12,824.2
Asset-backed securities			—				10,815.9				—				10,815.9
Investments in equity instruments
Non-publicly traded equity investments			—				39.2				4,085.1				4,124.3
Notes and accounts receivable, net			—				3,255.9				—				3,255.9
		$	12,678.1			$	118,013.6			$	4,085.1			$	134,776.8
Hedging financial assets
Fair value hedges
Interest rate futures contracts		$	22.4			$	—			$	—			$	22.4
Cash flow hedges
Forward exchange contracts			—				3.5				—				3.5
		$	22.4			$	3.5			$	—			$	25.9
Financial liabilities at FVTPL
Held for trading
Forward exchange contracts		$	—			$	982.3			$	—			$	982.3
Hedging financial liabilities
Cash flow hedges
Forward exchange contracts		$	—			$	1.8			$	—			$	1.8

Not measured at fair value but for which the fair value is disclosed [member]

Statement [LineItems]

Fair Value of Financial Instruments

The table below sets out the fair value hierarchy for the Company’s assets and liabilities which are not required to measure at fair value:

		December 31, 2018
		Carrying				Level 2
		Amount				Fair Value
		NT$				NT$
		(In Millions)				(In Millions)
Financial assets
Financial assets at amortized costs
Corporate bonds		$	19,511.8			$	19,554.5
Commercial paper			2,294.1				2,296.2
		$	21,805.9			$	21,850.7
Financial liabilities
Financial liabilities at amortized costs
Bonds payable		$	91,800.0			$	93,171.3

		December 31, 2019
		Carrying				Level 2
		Amount				Fair Value
		NT$				NT$
		(In Millions)				(In Millions)
Financial assets
Financial assets at amortized costs
Corporate bonds		$	7,648.8			$	7,718.7
Financial liabilities
Financial liabilities at amortized costs
Bonds payable		$	56,900.0			$	57,739.1

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The disclosure of the credit risk exposure. Credit risk exposure is the credit risk inherent in an entity’s financial assets and commitments to extend credit.

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