Retirement Benefit Plans (Tables)
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12 Months Ended |
Dec. 31, 2023 |
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| Statement [LineItems] |
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| Amounts Recognized in Consolidated Statements of Profit or Loss and Other Comprehensive Income of Defined Benefit Plans |
Amounts recognized in respect of these defined benefit plans were as follows:
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Current service cost |
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$ |
145.3 |
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$ |
134.3 |
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$ |
139.1 |
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Net interest expense |
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47.2 |
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74.3 |
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142.3 |
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Components of defined benefit costs recognized in profit or loss |
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192.5 |
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208.6 |
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281.4 |
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Remeasurement on the net defined benefit liability: |
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Return on plan assets (excluding amounts included in net interest expense) |
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(73.3 |
) |
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(429.9 |
) |
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(16.2 |
) |
Actuarial loss arising from experience adjustments |
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94.3 |
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1,413.8 |
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68.3 |
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Actuarial loss arising from changes in demographic assumptions |
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277.4 |
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- |
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- |
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Actuarial (gain) loss arising from changes in financial assumptions |
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(540.5 |
) |
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(160.8 |
) |
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571.3 |
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Components of defined benefit costs recognized in other comprehensive income (loss) |
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(242.1 |
) |
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823.1 |
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623.4 |
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Total |
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$ |
(49.6 |
) |
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$ |
1,031.7 |
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$ |
904.8 |
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| Pension Costs of Defined Benefit Plans Recognized in Profit or Loss by Categories |
The pension costs of the aforementioned defined benefit plans were recognized in profit or loss by the following categories:
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Cost of revenue |
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$ |
124.5 |
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$ |
135.1 |
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$ |
182.3 |
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Research and development expenses |
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52.8 |
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55.6 |
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76.1 |
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General and administrative expenses |
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12.5 |
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15.1 |
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19.3 |
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Marketing expenses |
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2.7 |
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2.8 |
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3.7 |
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$ |
192.5 |
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$ |
208.6 |
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$ |
281.4 |
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| Funded Status of Defined Benefit Plans, Movements in Present Value of Defined Benefit Obligation and Fair Value of Plan Assets |
The amounts arising from the defined benefit obligation of the Company were as follows:
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Present value of defined benefit obligation |
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$ |
17,484.0 |
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$ |
17,995.1 |
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Fair value of plan assets |
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(8,162.9 |
) |
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(8,737.9 |
) |
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Net defined benefit liability |
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$ |
9,321.1 |
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$ |
9,257.2 |
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| Fair Value of Plan Assets by Major Categories |
The fair value of the plan assets by major categories at the end of reporting period was as follows:
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Cash |
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$ |
1,337.9 |
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$ |
1,351.8 |
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Equity instruments |
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4,696.9 |
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4,998.9 |
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Debt instruments |
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2,128.1 |
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2,387.2 |
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$ |
8,162.9 |
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$ |
8,737.9 |
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| Principal Assumptions for Actuarial Valuation of Present Value of Defined Benefit Obligation |
The actuarial valuations of the present value of the defined benefit obligation were carried out by qualified actuaries. The principal assumptions of the actuarial valuation were as follows:
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Discount rate |
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1.80% |
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1.40% |
Future salary increase rate |
|
4.00% |
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4.00% |
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| Present value of defined benefit obligation [member] |
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| Statement [LineItems] |
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| Funded Status of Defined Benefit Plans, Movements in Present Value of Defined Benefit Obligation and Fair Value of Plan Assets |
Movements in the present value of the defined benefit obligation were as follows:
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Balance, beginning of year |
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$ |
16,980.3 |
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$ |
16,585.5 |
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$ |
17,484.0 |
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Current service cost |
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|
145.3 |
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134.3 |
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139.1 |
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Interest expense |
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66.7 |
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120.8 |
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304.0 |
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Remeasurement: |
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Actuarial loss arising from experience adjustments |
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94.3 |
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1,413.8 |
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68.3 |
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Actuarial loss arising from changes in demographic assumptions |
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|
277.4 |
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- |
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- |
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Actuarial (gain) loss arising from changes in financial assumptions |
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(540.5 |
) |
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(160.8 |
) |
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571.3 |
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Benefits paid from plan assets |
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(431.8 |
) |
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(585.3 |
) |
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(556.5 |
) |
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Benefits paid directly by the Company |
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(6.2 |
) |
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(24.3 |
) |
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(15.1 |
) |
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Balance, end of year |
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$ |
16,585.5 |
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$ |
17,484.0 |
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$ |
17,995.1 |
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| Fair value of plan assets [member] |
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| Statement [LineItems] |
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| Funded Status of Defined Benefit Plans, Movements in Present Value of Defined Benefit Obligation and Fair Value of Plan Assets |
Movements in the fair value of the plan assets were as follows:
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Balance, beginning of year |
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$ |
5,066.2 |
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$ |
5,548.6 |
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$ |
8,162.9 |
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Interest income |
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19.5 |
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46.5 |
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|
161.7 |
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Remeasurement: |
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Return on plan assets (excluding amounts included in net interest expense) |
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|
73.3 |
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|
429.9 |
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|
16.2 |
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Contributions from employer |
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821.4 |
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2,723.2 |
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|
953.6 |
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Benefits paid from plan assets |
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(431.8 |
) |
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(585.3 |
) |
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(556.5 |
) |
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Balance, end of year |
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$ |
5,548.6 |
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$ |
8,162.9 |
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$ |
8,737.9 |
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