Asus 2009 Annual Report Download - page 178

Download and view the complete annual report

Please find page 178 of the 2009 Asus annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 239

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239

174
ASUSTeK COMPUTER INC. AND SUBSIDIARIES
Notes to Financial Statements
(Continued)
2009/12/31 2008/12/31
Less: Convertible bonds payable –redeemable
within one year (3,609,633) (10,536,272)
Corporate bonds payable – net $ - -
Debt-component embedded derivative:
－ call/put option and conversion price reset
option $ 9,417 189,153
－ conversion rights 273,455 653,028
$ 282,872 842,181
2009/1/1~12/31 2008/1/1~12/31
Gain/(loss) on valuation of financial liabilities $ 179,298 942,440
Interest expense $ 128,051 269,514
The Company reclassified the convertible bonds and the related financial liabilities as current
liabilities as of December 31, 2009, because the bondholders could opt to request the Company
to redeem the convertible bonds on November 7, 2010.
(15) Pension
A. Because of the spin-off, except for a few foreign employees, the Company had settled its
financial obligation to employees under the pension plan accounted for based on SFAS No. 18
as of December 31, 2007. Thereafter, the Company is subject to the Labor Pension Act.
B. The Company obtained permission from the Labor Affairs Bureau, Taipei, to suspend the
appropriation of pension funds for those foreign employees subject to the Labor Standards
Laws in 2009.
C. The pension cost for the years ended December 31, 2009 and 2008, consisted of the following:
2009/1/1~2009/12/31 2008/1/1~2008/12/31
Net pension cost
Defined benefit pension plan $ 9,923 (20,516)
Defined contribution pension plan
(including annuity) $ 1,490,653 566,465
D. The Company and the subsidiaries in R.O.C. had an actuarial valuation of their defined benefit
pension plan as of December 31, 2009 and 2008. According to the actuarial reports, the
funded status was reconciled with prepaid pension cost as follows: