Page 219 - TSMC 2019 Annual Report

Fair value hierarchy
The table below sets out the fair value hierarchy for the Company’s assets and liabilities which are not required to measure at fair value:
December 31, 2019
Carrying Amount
$ 7,648,798
$ 56,900,000
Level 2 Fair Value
7,718,731
Financial assets
Financial assets at amortized costs Corporate bonds
Financial liabilities
Financial liabilities at amortized costs Bonds payable
Financial assets
Financial assets at amortized costs Corporate bonds
Commercial paper
Financial liabilities
Financial liabilities at amortized costs Bonds payable
The fair value of corporate bonds is determined by quoted market prices provided by third party pricing services.
The fair value of commercial paper is determined by the present value of future cash flows based on the discounted curves that are derived from the quoted market prices.
The fair value of the Company’s bonds payable is determined by quoted market prices provided by third party pricing services.
$
$ 57,739,115
December 31, 2018
Carrying Amount
$ 19,511,794 2,294,098
$ 21,805,892
Level 2 Fair Value
$ 19,554,553 2,296,188
$ 21,850,741
$ 93,171,255
$ 91,800,000 Valuation techniques and assumptions used in Level 2 fair value measurement
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