Intercompany balances and transactions between TSMC and its subsidiaries, which are related parties of TSMC, have been eliminated upon consolidation; therefore, those items are not disclosed in this note. The following is a summary of significant transactions between the Company and other related parties:

Related party name and categories


Related Party Name		Related Party Categories
GUC		Associates
VIS		Associates
SSMC		Associates
Xintec		Associates
TSMC Education and Culture Foundation		Other related parties
TSMC Charity Foundation		Other related parties

F - 73

Net revenue


		Years Ended December 31
		2019		2020		2021
		NT$		NT$		NT$
		(In Millions)		(In Millions)		(In Millions)
Item	Related Party Categories
Net revenue from sale of goods	Associates	$	6,253.9	$	8,129.8	$	8,475.9

Purchases


	Years Ended December 31
	2019		2020		2021
	NT$		NT$		NT$
	(In Millions)		(In Millions)		(In Millions)
Related Party Categories
Associates	$	6,301.4	$	7,606.4	$	7,569.8

Receivables from related

parties


		December 31, 2020		December 31, 2021
		NT$		NT$
		(In Millions)		(In Millions)
Item	Related Party Name/Categories
Receivables from related	GUC	$	370.6	$	597.8
parties	Xintec		187.5		117.5


		$	558.1	$	715.3

Other receivables from related	SSMC	$	45.3	$	50.4
parties	VIS		4.3		11.1
	Other associates		1.0		—


		$	50.6	$	61.5

Payables to related parties


		December 31, 2020		December 31, 2021
		NT$		NT$
		(In Millions)		(In Millions)
Item	Related Party Name/Categories
Payables to related parties	Xintec	$	1,358.6	$	725.3
	VIS		311.4		357.2
	SSMC		400.8		349.2
	Other associates		36.9		5.5


		$	2,107.7	$	1,437.2

Accrued expenses and other current liabilities


		December 31, 2020		December 31, 2021
		NT$		NT$
		(In Millions)		(In Millions)
Item	Related Party Categories
Contract liabilities	Associates	$	—	$	726.4

Others


		Years Ended December 31
		2019		2020		2021
		NT$		NT$		NT$
		(In Millions)		(In Millions)		(In Millions)
Item	Related Party Categories
Manufacturing expenses	Associates	$	2,823.0	$	5,440.0	$	5,459.9

The sales prices and payment terms to related parties were not significantly different from those of sales to third parties. For other related party transactions, price and terms were determined in accordance with mutual agreements.

The Company leased factory and office from associates. The lease terms and prices were both determined in accordance with mutual agreements. The rental expenses were paid to associates monthly; the related expenses were both classified under manufacturing expenses.

Compensation of key management personnel

The compensation to directors and other key management personnel were

follows:


	Years Ended December 31
	2019		2020		2021
	NT$		NT$		NT$
	(In Millions)		(In Millions)		(In Millions)

Short-term employee benefits	$	1,922.2	$	2,666.7	$	2,886.8
Post-employment benefits		2.7		2.3		2.9


	$	1,924.9	$	2,669.0	$	2,889.7

The compensation to directors and other key management personnel were determined by the Compensation Committee of TSMC in accordance with the individual performance and market trends.