Page 283 - 2017 TSMC Annual Report

16. SHORT-TERM LOANS
Unsecured loans Amount
Original loan content US$ (in thousands) Annual interest rate Maturity date
17. PROVISIONS
December 31, 2017
$ 63,766,850
$ 2,150,000 1.54%-1.82% Due by February 2018
December 31, 2016
$ 57,958,200
$ 1,800,000 0.87%-1.07% Due by January 2017
Sales Returns and Allowances
$ 16,991,612 44,244,876
(48,061,663) $ 13,174,825
$ 9,011,863 35,699,912
(27,720,163) $ 16,991,612
The Company’s current provisions were provisions for sales returns and allowances.
Year ended December 31, 2017
Balance, beginning of year Provision
Payment
Balance, end of year
Year ended December 31, 2016
Balance, beginning of year Provision
Payment
Balance, end of year
Provisions for sales returns and allowances are estimated based on historical experience and the consideration of varying contractual terms, and are recognized as a reduction of revenue in the same year of the related product sales.
18. BONDS PAYABLE
Domestic unsecured bonds Less: Current portion
December 31, 2017
$ 116,100,000 (24,300,000)
$ 91,800,000
December 31, 2016
$ 154,200,000 (38,100,000)
$ 116,100,000
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