Page 227 - TSMC 2020 Annual Report

3) Fair value of financial instruments that are not measured at fair value
Except as detailed in the following table, the Company considers that the carrying amounts of financial instruments in the consolidated financial statements that are not measured at fair value approximate their fair values.
Fair value hierarchy
The table below sets out the fair value hierarchy for the Company’s financial assets and liabilities which are not required to measure at fair value:
December 31, 2020
Carrying Amount
10,970,199
Level 2 Fair Value
11,053,550
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
Financial liabilities
Financial liabilities at amortized costs Bonds payable
The fair values of corporate bonds and the Company’s bonds payable are determined by quoted market prices provided by third party pricing services.
$
$
$ 256,705,084
$ 257,551,196
December 31, 2019
$
Carrying Amount
7,648,798
Level 2 Fair Value
$ 7,718,731
$ 57,739,115
$
Valuation techniques and assumptions used in Level 2 fair value measurement
56,900,000
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