Page 212 - TSMC 2020 Annual Report

b. Contract balances
Contract liabilities (classified under accrued
expenses and other current liabilities) $ 13,775,088
December 31, 2020
December 31,
2019 2019
satisfaction of performance obligation and the customer’s payment.
The Company recognized revenue from the beginning balance of contract liability, which amounted to NT$4,737,915 thousand and NT$3,876,603 thousand for the years ended December 31, 2020 and 2019, respectively.
c. Refund liabilities
Estimated sales returns and other allowances is made and adjusted based on historical experience and the consideration of varying contractual terms, which amounted to NT$40,453,153 thousand and NT$36,211,421 thousand for the years ended December 31, 2020 and 2019, respectively. As of December 31, 2020 and 2019, the aforementioned refund liabilities amounted to NT$33,194,765 thousand and NT$19,620,159 thousand (classified under accrued expenses and other current liabilities), respectively.
$ 6,784,323
The changes in the contract liability balances primarily result from the timing difference between the
January 1,
$ 4,684,024
24. INTEREST INCOME
Interest income
Bank deposits
Financial assets at FVTPL Financial assets at FVTOCI Financial assets at amortized cost
25. FINANCECOSTS
Interest expense Corporate bonds Bank loans Lease liabilities Others
Years Ended December 31
$
2020
5,139,149 2,522 3,121,856 754,873
$
2019
11,454,032 339,480 3,476,192 919,670
$ 9,018,400
$ 16,189,374
$
2020
1,337,347 500,875 227,752
$
2019
1,139,935 1,869,335 240,927 650
Years Ended December 31
15,481 $ 2,081,455
$ 3,250,847
- 53 -
- 53 -