Page 199 - TSMC 2018 Annual Report

19. OTHERASSETS
Tax receivable Prepaid expenses Others
Current portion Noncurrent portion
20. SHORT-TERM LOANS
Unsecured loans Amount
Original loan content US$ (in thousands) EUR (in thousands) Annual interest rate Maturity date
21. PROVISIONS
December 31, 2018
$ 3,780,293 1,298,710 1,912,067
$ 6,991,070
$ 5,406,423 1,584,647
$ 6,991,070
December 31, 2018
$ 88,754,640
$ 2,610,000 242,000 0.01%-3.22% Due by January
2019
December 31, 2017
$ 4,021,602 1,559,963 1,623,995
$ 7,205,560
$ 4,222,440 2,983,120
$ 7,205,560
December 31, 2017
$ 63,766,850
$ 2,150,000 - 1.54%-1.82%
Due by February 2018
Sales Returns and Allowances
$ 18,037,789 44,833,557
(48,884,704) (24,855)
$ 13,961,787
The Company’s current provisions were provisions for sales returns and allowances.
Year Ended December 31, 2017
Balance, beginning of year Provision
Payment
Effect of exchange rate changes
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.
Starting from 2018, the Company recognizes the estimation of sales returns and allowance as refund liability (classified under accrued expenses and other current liabilities) upon initial application of IFRS 15.
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