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Consolidated Statements of Cash Flows
$ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
TWD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
TWD ($)
Dec. 31, 2017
TWD ($)
Cash flows from operating activities:        
Net income before tax $ 4,806,596 $ 160,702 $ 2,117,920 $ 7,671,710
Adjustments to reconcile net income before tax to net cash provided by operating activities:        
Depreciation 47,172,881 1,577,161 49,948,589 50,965,120
Amortization 2,216,654 74,111 2,100,130 2,133,726
Expected credit losses 627,159 20,968 409,237 0
Bad debt reversal 0 0 0 (1,752)
Net (gain) loss of financial assets and liabilities at fair value through profit or loss (1,279,931) (42,793) 1,167,735 (598,270)
Interest expense 2,933,815 98,088 2,768,672 2,406,872
Interest income (994,061) (33,235) (789,001) (353,159)
Dividend income (711,614) (23,792) (602,375) (522,428)
Share-based payment 366,186 12,243 695,669 0
Share of (profit) loss of associates and joint ventures (115,329) (3,856) 616,665 (157,837)
Gain on disposal of property, plant and equipment (43,036) (1,439) (136,743) (82,397)
Gain on disposal of other assets 0 0 0 (6,601)
Loss (gain) on disposal of investments 16,293 545 19,286 (1,269,369)
Impairment loss on financial assets 0 0 0 950,335
Impairment loss on non-financial assets 118,134 3,950 46,225 0
Exchange (gain) loss on financial assets and liabilities 206,612 6,907 1,217,590 (2,432,098)
Bargain purchase gain in acquisition of additional shares of equity investees 0 0 0 (5,130)
Bargain purchase gain (171,585) (5,736) 0 0
Amortization of deferred government grants (4,062,148) (135,812) (3,885,722) (1,469,616)
Income and expense adjustments 46,280,030 1,547,310 53,575,957 49,557,396
Changes in operating assets and liabilities:        
Financial assets and liabilities at fair value through profit or loss (594,847) (19,888) 789,666 520,335
Contract assets (126,340) (4,224) (357,515) 0
Notes receivable and accounts receivable 439,400 14,691 (1,382,668) 1,587,562
Other receivables 67,347 2,251 618,317 (261,834)
Inventories (1,370,249) (45,812) (46,497) (1,565,132)
Other current assets 5,769,041 192,880 743,519 (4,397,764)
Contract fulfillment costs 8,054 269 (448,933) 0
Contract liabilities 69,329 2,318 (3,020,517) 0
Notes and accounts payable (739,066) (24,710) 257,044 (185,907)
Other payables 511,244 17,092 (332,290) 727,300
Other current liabilities 796,243 26,621 215,062 1,803,309
Net defined benefit liabilities (35,398) (1,183) (26,405) (14,562)
Other noncurrent liabilities (3,240) (108) 0 (209,250)
Cash generated from operations 55,878,144 1,868,209 52,702,660 55,233,163
Interest received 973,241 32,539 666,774 329,194
Dividend received 818,691 27,372 782,157 584,612
Interest paid (2,147,320) (71,793) (2,221,301) (1,905,718)
Income tax paid (618,608) (20,682) (995,314) (1,766,856)
Net cash provided by operating activities 54,904,148 1,835,645 50,934,976 52,474,395
Cash flows from investing activities:        
Acquisition of financial assets at fair value through profit or loss (354,249) (11,844) (593,563) (138,022)
Proceeds from disposal of financial assets at fair value through profit or loss 229,553 7,675 1,061 18,789
Proceeds from disposal of equity instruments investments measured at fair value through other comprehensive income or loss 44,466 1,487 0 0
Acquisition of available-for-sale financial assets 0 0 0 (998,216)
Proceeds from disposal of available-for-sale financial assets 0 0 0 2,159,636
Acquisition of financial assets measured at cost 0 0 0 (14,419)
Proceeds from disposal of financial assets measured at cost 0 0 0 361
Acquisition of investments accounted for under the equity method (730,000) (24,407) (840,000) (204,280)
Proceeds from disposal of investments accounted for under the equity method 5,970 200 0 0
Increase in prepayment for investments (17,974) (601) 0 (17,200)
Proceeds from capital reduction and liquidation of investments 32,214 1,077 61,800 2,101,791
Acquisition of subsidiary (net of cash acquired) (12,800,981) (427,983) 0 0
Disposal of subsidiary 32,017 1,070 (9,813) 0
Derecognition of hedging financial assets and liabilities 0 0 (2,572) 0
Acquisition of property, plant and equipment (16,518,483) (552,273) (19,590,075) (44,236,276)
Proceeds from disposal of property, plant and equipment 45,042 1,506 200,991 119,613
Increase in refundable deposits (257,909) (8,623) (1,674,984) (109,627)
Decrease in refundable deposits 441,013 14,745 691,807 424,706
Acquisition of intangible assets (2,443,593) (81,698) (838,675) (1,283,938)
Government grants related to assets acquisition 617,685 20,651 7,129,770 6,755,920
Increase in other noncurrent assets (15,074) (504) (36,440) (30,294)
Decrease in other noncurrent assets 8,786 294 1,090 35,864
Net cash used in investing activities (31,681,517) (1,059,228) (15,499,603) (35,415,592)
Cash flows from financing activities:        
Increase in short-term loans 25,732,933 860,345 22,021,005 48,804,321
Decrease in short-term loans (26,726,656) (893,569) (34,309,253) (42,925,604)
Cash payments for the principal portion of the lease liability (633,488) (21,180) 0 0
Proceeds from bonds issued 0 0 0 13,700,000
Bonds issuance costs 0 0 0 (15,785)
Redemption of bonds (2,500,000) (83,584) (7,500,000) (7,500,000)
Proceeds from long-term loans 11,449,930 382,813 758,500 12,000,708
Repayments of long-term loans (7,572,939) (253,191) (2,638,697) (7,602,596)
Increase in guarantee deposits 269,415 9,008 213,432 194,555
Decrease in guarantee deposits (17,146) (573) (125,301) (84,192)
Cash dividends (6,911,058) (231,062) (8,557,684) (6,103,195)
Treasury stock acquired (2,972,243) (99,373) (6,148,273) 0
Treasury stock sold to employees 0 0 2,204,000 0
Acquisition of non-controlling interests 0 0 0 (1,308,614)
Change in non-controlling interests 3,388 113 597,385 1,994
Others 10,818 362 0 0
Net cash provided by (used in) financing activities (9,867,046) (329,891) (33,484,886) 9,161,592
Effect of exchange rate changes on cash and cash equivalents (1,524,847) (50,981) 36,680 (2,124,804)
Net increase in cash and cash equivalents 11,830,738 395,545 1,987,167 24,095,591
Cash and cash equivalents at beginning of year 83,661,739 2,797,116 81,674,572 57,578,981
Cash and cash equivalents at end of year $ 95,492,477 $ 3,192,661 $ 83,661,739 $ 81,674,572