Page 291 - TSMC 2019 Annual Report

The Company’s goodwill has been tested for impairment at the end of the annual reporting period and the recoverable amount is determined based on the value in use. The value in use was calculated based on the cash flow forecast from the financial budgets covering the future five-year period, and the Company used annual discount rates of 8.0% and 9.0% in its test of impairment as of December 31, 2019 and 2018, respectively, to reflect the relevant specific risk in the cash-generating unit.
For the years ended December 31, 2019 and 2018, the Company did not recognize any impairment loss on goodwill.
15. SHORT-TERM LOANS
Unsecured loans
Related parties unsecured loans
Original loan content US$ (in thousands) EUR(in thousands) Annual interest rate Maturity date
December 31, 2019
$ 118,522,290 29,988,000
$ 148,510,290
December 31, 2018
$ 88,754,640 3,227,700
$ 91,982,340
$ 2,715,000 242,000 0.01%-3.22%
Due by April 2019
The borrowing rates from loans between the Company and related parties should be determined by mutual consent as the loan are repayable on related parties’ demand.
16. BONDSPAYABLE
Domestic unsecured bonds Less: Current portion
The major terms of domestic unsecured bonds are as follows:
December 31, 2019
$ 56,900,000 (31,800,000)
$ 25,100,000
December 31, 2018
$
Due by July 2020
3,370,000
1,410,000 0%-2.22%
$
$ 56,900,000
91,800,000 (34,900,000)
Issuance Tranche
100-1 B
100-2 B 101-1 B 101-2 B
Issuance Period
September 2011 to September 2018
January 2012 to January 2019 August 2012 to
August 2019 September 2012 to September 2019
Coupon Total Amount Rate
$ 7,500,000 1.63%
7,000,000 1.46% 9,000,000 1.40% 9,000,000 1.39%
Repayment and Interest Payment
Bullet repayment; interest payable annually
The same as above The same as above The same as above
(Continued)
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