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.
| December 31, 2016 | December 31, 2017 | |||||||||||||||
| Carrying Amount |
Fair Value | Carrying Amount |
Fair Value | |||||||||||||
| NT$ | NT$ | NT$ | NT$ | |||||||||||||
| (In Millions) | (In Millions) | (In Millions) | (In Millions) | |||||||||||||
|
Financial assets |
||||||||||||||||
|
Held-to-maturity financial assets |
||||||||||||||||
|
Corporate bonds |
$ | 23,849.7 | $ | 23,996.4 | $ | 19,338.8 | $ | 19,541.4 | ||||||||
|
Structured product |
1,609.9 | 1,609.7 | 1,482.9 | 1,475.4 | ||||||||||||
|
Commercial paper |
8,628.2 | 8,630.8 | — | — | ||||||||||||
|
Negotiable certificate of deposit |
4,829.9 | 4,847.8 | — | — | ||||||||||||
|
Financial liabilities |
||||||||||||||||
|
Measured at amortized cost |
||||||||||||||||
|
Bonds payable |
191,193.6 | 192,845.3 | 150,201.1 | 152,077.7 | ||||||||||||
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, 2016 | ||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| NT$ | NT$ | NT$ | NT$ | |||||||||||||
| (In Millions) | (In Millions) | (In Millions) | (In Millions) | |||||||||||||
|
Financial assets |
||||||||||||||||
|
Held-to-maturity securities |
||||||||||||||||
|
Corporate bonds |
$ | — | $ | 23,996.4 | $ | — | $ | 23,996.4 | ||||||||
|
Commercial paper |
— | 8,630.8 | — | 8,630.8 | ||||||||||||
|
Negotiable certificate of deposit |
— | 4,847.8 | — | 4,847.8 | ||||||||||||
|
Structured product |
— | 1,609.7 | — | 1,609.7 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | — | $ | 39,084.7 | $ | — | $ | 39,084.7 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Financial liabilities |
||||||||||||||||
|
Measured at amortized cost |
||||||||||||||||
|
Bonds payable |
$ | — | $ | 192,845.3 | $ | — | $ | 192,845.3 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| December 31, 2017 | ||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| NT$ | NT$ | NT$ | NT$ | |||||||||||||
| (In Millions) | (In Millions) | (In Millions) | (In Millions) | |||||||||||||
|
Financial assets |
||||||||||||||||
|
Held-to-maturity securities |
||||||||||||||||
|
Corporate bonds |
$ | — | $ | 19,541.4 | $ | — | $ | 19,541.4 | ||||||||
|
Structured product |
— | 1,475.4 | — | 1,475.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | — | $ | 21,016.8 | $ | — | $ | 21,016.8 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Financial liabilities |
||||||||||||||||
|
Measured at amortized cost |
||||||||||||||||
|
Bonds payable |
$ | — | $ | 152,077.7 | $ | — | $ | 152,077.7 | ||||||||
|
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|
|
|
|
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|
|
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