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Consolidated Statements of Cash Flows
$ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
TWD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
TWD ($)
Dec. 31, 2018
TWD ($)
Cash flows from operating activities:        
Net income before tax $ 22,542,750 $ 802,805 $ 4,806,596 $ 2,117,920
Adjustments to reconcile net income before tax to net cash provided by operating activities:        
Depreciation 46,163,693 1,644,006 47,172,881 49,948,589
Amortization 2,744,383 97,734 2,216,654 2,100,130
Expected credit impairment losses (gains) (392,145) (13,965) 627,159 409,237
Net loss (gain) of financial assets and liabilities at fair value through profit or loss (2,011,403) (71,630) (1,279,931) 1,167,735
Interest expense 2,004,418 71,382 2,933,815 2,768,672
Interest income (737,913) (26,279) (994,061) (789,001)
Dividend income (698,155) (24,863) (711,614) (602,375)
Share-based payment 959,219 34,160 366,186 695,669
Share of loss (profit) of associates and joint ventures (1,300,263) (46,306) (115,329) 616,665
Gain on disposal of property, plant and equipment (1,137,320) (40,503) (43,036) (136,743)
Loss on disposal of investments 91,070 3,243 16,293 19,286
Impairment loss on non-financial assets     118,134 46,225
Exchange loss (gain) on financial assets and liabilities (1,386,657) (49,381) 206,612 1,217,590
Bargain purchase gain     (171,585)  
Gain on lease modification (1,765) (63)    
Amortization of deferred government grants (3,994,818) (142,266) (4,062,148) (3,885,722)
Income and expense adjustments 40,302,344 1,435,269 46,280,030 53,575,957
Changes in operating assets and liabilities:        
Financial assets and liabilities at fair value through profit or loss 876,876 31,228 (594,847) 789,666
Contract assets (49,108) (1,749) (126,340) (357,515)
Notes receivable and accounts receivable (1,501,100) (53,458) 439,400 (1,382,668)
Other receivables (224,488) (7,995) 67,347 618,317
Inventories (1,014,039) (36,113) (1,370,249) (46,497)
Other current assets 2,981,984 106,196 5,769,041 743,519
Contract fulfillment costs 4,200 150 8,054 (448,933)
Contract liabilities 1,072,225 38,185 69,329 (3,020,517)
Notes and accounts payable (944,909) (33,651) (739,066) 257,044
Other payables 2,247,473 80,038 511,244 (332,290)
Other current liabilities (593,710) (21,144) 796,243 215,062
Net defined benefit liabilities (55,300) (1,969) (35,398) (26,405)
Other noncurrent liabilities 53,743 1,914 (3,240)  
Cash generated from operations 65,698,941 2,339,706 55,878,144 52,702,660
Interest received 758,235 27,003 973,241 666,774
Dividend received 1,041,972 37,107 818,691 782,157
Interest paid (1,735,327) (61,799) (2,147,320) (2,221,301)
Income tax paid (18,629) (664) (618,608) (995,314)
Net cash provided by operating activities 65,745,192 2,341,353 54,904,148 50,934,976
Cash flows from investing activities:        
Acquisition of financial assets at fair value through profit or loss (1,118,572) (39,835) (354,249) (593,563)
Proceeds from disposal of financial assets at fair value through profit or loss 326,127 11,614 229,553 1,061
Proceeds from disposal of financial assets at fair value through other comprehensive income or loss     44,466  
Acquisition of investments accounted for under the equity method (59,900) (2,133) (730,000) (840,000)
Proceeds from disposal of investments accounted for under the equity method 30,611 1,090 5,970  
Increase in prepayment for investments     (17,974)  
Proceeds from capital reduction and liquidation of investments 27,200 969 32,214 61,800
Acquisition of subsidiary (net of cash acquired)     (12,800,981)  
Disposal of subsidiary (785,772) (27,983) 32,017 (9,813)
Derecognition of hedging financial assets and liabilities       (2,572)
Acquisition of property, plant and equipment (26,345,302) (938,223) (16,518,483) (19,590,075)
Proceeds from disposal of property, plant and equipment 1,737,125 61,863 45,042 200,991
Increase in refundable deposits (160,254) (5,707) (257,909) (1,674,984)
Decrease in refundable deposits 448,893 15,986 441,013 691,807
Acquisition of intangible assets (2,009,031) (71,547) (2,443,593) (838,675)
Government grants related to assets acquisition 242,264 8,628 617,685 7,129,770
Increase in other financial assets (18,422,183) (656,061)    
Decrease in other financial assets 5,984,342 213,118    
Increase in other noncurrent assets (7,049) (251) (15,074) (36,440)
Decrease in other noncurrent assets     8,786 1,090
Net cash used in investing activities (40,111,501) (1,428,472) (31,681,517) (15,499,603)
Cash flows from financing activities:        
Increase in short-term loans 16,271,732 579,478 25,732,933 22,021,005
Decrease in short-term loans (17,205,124) (612,718) (26,726,656) (34,309,253)
Cash payments for the principal portion of the lease liability (726,626) (25,877) (633,488)  
Redemption of bonds (13,702,875) (487,994) (2,500,000) (7,500,000)
Proceeds from long-term loans 13,528,900 481,798 11,449,930 758,500
Repayments of long-term loans (13,391,980) (476,921) (7,572,939) (2,638,697)
Increase in guarantee deposits 303,720 10,816 269,415 213,432
Decrease in guarantee deposits (363,539) (12,947) (17,146) (125,301)
Cash dividends (9,765,694) (347,781) (6,911,058) (8,557,684)
Treasury stock acquired (1,678,272) (59,768) (2,972,243) (6,148,273)
Treasury stock sold to employees 1,677,900 59,754   2,204,000
Change in non-controlling interests (551,608) (19,644) 3,388 597,385
Others 2,120 75 10,818  
Net cash used in financing activities (25,601,346) (911,729) (9,867,046) (33,484,886)
Effect of exchange rate changes on cash and cash equivalents (1,476,786) (52,592) (1,524,847) 36,680
Net increase (decrease) in cash and cash equivalents (1,444,441) (51,440) 11,830,738 1,987,167
Cash and cash equivalents at beginning of year 95,492,477 3,400,729 83,661,739 81,674,572
Cash and cash equivalents at end of year $ 94,048,036 $ 3,349,289 $ 95,492,477 $ 83,661,739