HTC 2015 Annual Report Download - page 138

Financial information
Financial information
272
273
The appropriations of 2014 earnings and the loss off-setting for 2013 had been approved in the shareholders' meetings on June 2, 2015
and June 19, 2014, respectively. The appropriations and dividends per share were as follows:
Appropriation of Earnings
(The Loss Off-setting) Dividends Per Share (NT$)
For 2014 For 2013 For 2014 For 2013
Legal reserve $148,305 $ - $ - $ -
Special reserve reversal - (854,138) - -
Cash dividends 314,636 - 0.38 -
Information on the earnings appropriation proposed by the Company's board of directors and approved by the Company's shareholders
is available on the Market Observation Post System website of the Taiwan Stock Exchange.
Other Equity
December 31
2015 2014
Exchange differences on translating foreign operations
Unrealized losses on available-for-sale financial assets
Unearned employee benefit
$ 1,473,417
( 13,633)
( 371,369)
$ 1,462,855
( 2,167)
( 398,570)
$ 1,088,415 $ 1,062,118
a. Exchange differences on translating foreign operations
Exchange differences relating to the translation of the results and net assets of the Company's foreign operations from
their functional currencies to the Company's presentation currency (New Taiwan dollars) were recognized directly in other
comprehensive income and accumulated in the foreign currency translation reserve. Exchange differences previously accumulated
in the foreign currency translation reserve were reclassified to profit or loss on the disposal of the foreign operation.
b. Unrealized gains or losses on available-for-sale financial assets
Unrealized gains or losses on available-for-sale financial assets represents the cumulative gains and losses arising on the
revaluation of AFS financial assets that have been recognized in other comprehensive income, net of amounts reclassified to profit
or loss when those assets have been disposed of or are determined to be impaired.
c. Cash flow hedge
The cash flow hedging reserve represents the cumulative effective portion of gains or losses arising on changes in fair value of
hedging instruments entered into for cash flow hedges. The cumulative gain or loss arising on changes in fair value of the hedging
instruments that are recognized and accumulated under the heading of cash flow hedging reserve will be transferred to profit or
loss only when the hedged transaction affects the profit or loss, or included as a basis adjustment to the non-financial hedged item.
d. Unearned employee benefit
In the meeting of shareholders on June 2, 2015 and June 19, 2014, the shareholders approved a restricted stock plan for employees.
Refer to Note 29 for the information of restricted shares issued.
For the Year Ended December 31
2015 2014
Balance, beginning of the year
Issuance of shares
Adjustment of turnover rate
Share-based payment expenses recognized
$(398,570)
(233,265)
3,395
257,071
$ -
(443,855)
-
45,285
Balance, end of the year $( 371,369) $(398,570)
Treasury Shares
On August 24, 2015, the Company's board of directors passed a resolution to buy back 50,000 thousand Company shares from the open
market. The repurchase period was between August 25, 2015 and October 24, 2015, and the repurchase price ranged from NT$35 to
NT$60 per share. If the Company's share price i lower than this price range, the Company may continue to buy back its shares. The
Company had bought back 4,110 thousand shares for NT$200,955 thousand during the repurchase period.
The Company had repurchased company shares from the open market for transferring to employees and some of them had not been
transferred before the expiry time. The Board of Directors approved the retirement of 6,914 thousand, 10,000 thousand and 1,999
thousand treasury shares in March 2015, October 2014 and February 2014, respectively. The related information on the treasury share
transactions was as follows:
(In Thousands of Shares)
Reason to Reacquire
Number of Shares,
Beginning of Year
Addition During
the Year
Reduction During
the Year
Number of Shares,
End of Year
For 2015
To transfer shares to the Company's employees 6,914 - 6,914 -
To maintain the Company's credibility and stockholders' interest - 4,110 - 4,110
6,914 4,110 6,914 4,110
For 2014
To transfer shares to the Company's employees 18,913 - 11,999 6,914
Based on the Securities and Exchange Act of the ROC, the number of reacquired shares should not exceed 10% of a company's issued
and outstanding shares, and the total purchase amount should not exceed the sum of the retained earnings, additional paid-in capital in
excess of par and realized capital surplus.
Under the Securities and Exchange Act, HTC shall neither pledge treasury shares nor exercise shareholders' rights on these shares,
such as rights to dividends and to vote.
25. REVENUE
For the Year Ended December 31
2015 2014
Sale of goods
Other operating income
$120,087,853
1,596,378
$184,929,230
2,981,970
$121,684,231 $ 187,911,200
Some sales denominated in foreign currencies were hedged for cash flow risk. Accordingly, the Company transferred $22,604 thousand
and NT$102,057 thousand of the gain or loss on the hedging instrument that was determined to be the effective portion of the hedge to
sales of goods for the years ended in 2015 and 2014, respectively.
26. NET (LOSS) PROFIT FROM CONTINUING OPERATIONS AND OTHER
COMPREHENSIVE INCOME AND LOSS
a. Other income
For the Year Ended December 31
2015 2014
Interest income
Bank Deposits
Other receivables
$344,769
75,200
$307,005
96,150
(Continued)