AU OPTRONICS CORP | CIK:0001172494 | 3

  • Filed: 3/29/2018
  • Entity registrant name: AU OPTRONICS CORP (CIK: 0001172494)
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  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1172494/000095010318003972/0000950103-18-003972-index.htm
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    • ifrs-full:DisclosureOfRelatedPartyExplanatory

    38.
    Related-party Transactions
     
    All inter-company transactions and balances between AUO and its subsidiaries are eliminated in the consolidated financial statements. The transactions between the Company and its related parties are set out as follows:
     
    (a)
    Compensation to key management personnel
     
    Key management personnel’s compensation comprised:
     
     
     
    For the years ended December 31,
     
     
     
    2017
     
    2016
     
    2015
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    (in thousands)
     
    Short-term employee benefits
     
    $
    566,231
     
     
    354,883
     
     
    365,310
     
    Post-employment benefits
     
     
    2,244
     
     
    1,937
     
     
    2,168
     
     
     
    $
    568,475
     
     
    356,820
     
     
    367,478
     
     
    (b)
    Except for otherwise disclosed in other notes to the consolidated financial statements, the Company’s significant related party transactions and balances were as follows:
     
    (1)
    Sales
     
     
     
    Sales
     
    Accounts receivable
    from related parties
     
     
     
    For the years ended December 31,
     
    December 31,
     
     
     
    2017
     
    2016
     
    2015
     
    2017
     
    2016
     
     
     
    (in thousands)
     
    Associates(1)
     
    $
    1,216,868
     
     
    554,889
     
     
    8,745,681
     
     
    184,948
     
     
    58,755
     
    Joint ventures
     
     
    -
     
     
    4,105,390
     
     
    5,453,152
     
     
    -
     
     
    -
     
    Others(1)
     
     
    11,959,720
     
     
    12,767,161
     
     
    6,005,175
     
     
    1,668,114
     
     
    2,474,469
     
     
     
    $
    13,176,588
     
     
    17,427,440
     
     
    20,204,008
     
     
    1,853,062
     
     
    2,533,224
     
     
    The collection terms for sales to related parties were month-end 30 to 55 days. The pricing for sales to related parties were not materially different from those with third parties.
     
    (2)
    Purchases
     
     
     
    Purchases
     
    Accounts payable to related parties
     
     
     
    For the years ended December 31,
     
    December 31,
     
     
     
    2017
     
    2016
     
    2015
     
    2017
     
    2016
     
     
     
    (in thousands)
     
    Associates(1)
     
    $
    8,667,555
     
     
    9,886,487
     
     
    19,563,609
     
     
    3,233,050
     
     
    3,734,927
     
    Joint ventures
     
     
    1,057,106
     
     
    3,754,404
     
     
    4,786,344
     
     
    -
     
     
    -
     
    Others(1)
     
     
    17,549,228
     
     
    18,317,386
     
     
    10,587,095
     
     
    4,431,681
     
     
    5,088,138
     
     
     
    $
    27,273,889
     
     
    31,958,277
     
     
    34,937,048
     
     
    7,664,731
     
     
    8,823,065
     
     
    The payment terms for purchases from related parties were 30 to 120 days. The pricing and payment terms with related parties were not materially different from those with third parties.
     
    (3)
    Acquisition of property, plant and equipment
     
     
     
    For the years ended December 31,
     
     
     
    2017
     
    2016
     
    2015
     
     
     
    (in thousands)
     
    Associates(1)
     
    $
    1,549
     
     
    7,391
     
     
    368,171
     
    Others(1)
     
     
    2,801
     
     
    -
     
     
    326
     
     
     
    $
    4,350
     
     
    7,391
     
     
    368,497
     
     
    (4)
    Disposal of property, plant and equipment and others
     
     
     
    Proceeds from disposal
     
     
     
    For the years ended December 31,
     
     
     
    2017
     
    2016
     
    2015
     
     
     
    (in thousands)
     
    Associates(1)
     
    $
    -
     
     
    926
     
     
    -
     
    Joint ventures
     
     
    -
     
     
    -
     
     
    8
     
    Others(1)
     
     
    3,352
     
     
    -
     
     
    1,790
     
     
     
    $
    3,352
     
     
    926
     
     
    1,798
     
     
     
     
    Gains on disposal
     
     
     
    For the years ended December 31,
     
     
     
    2017
     
    2016
     
    2015
     
     
     
    (in thousands)
     
    Associates(1)
     
    $
    -
     
     
    22
     
     
    -
     
    Joint ventures
     
     
    -
     
     
    -
     
     
    8
     
    Others(1)
     
     
    2,212
     
     
    -
     
     
    36
     
     
     
    $
    2,212
     
     
    22
     
     
    44
     
     
    (5)
    Other related party transactions
     
     
     
    Other receivables due from
    related parties
     
     
     
    December 31,
     
     
     
    2017
     
    2016
     
     
     
    (in thousands)
     
    Associates(1)
     
    $
    47,746
     
     
    10,970
     
    Others(1)
     
     
    6,347
     
     
    23,318
     
     
     
    $
    54,093
     
     
    34,288
     
     
     
     
    Other payables due to related parties (including equipment payable)
     
     
     
    December 31,
     
     
     
    2017
     
    2016
     
     
     
    (in thousands)
     
    Associates(1)
     
    $
    9,009
     
     
    16,218
     
    Joint ventures
     
     
    292
     
     
    406
     
    Others(1)
     
     
    15,137
     
     
    10,717
     
     
     
    $
    24,438
     
     
    27,341
     
     
     
     
    Rental income
     
     
     
    For the years ended December 31,
     
     
     
    2017
     
    2016
     
    2015
     
     
     
    (in thousands)
     
    Associates(1)
     
    $
    48,223
     
     
    31,858
     
     
    61,159
     
    Joint ventures
     
     
    6,611
     
     
    6,611
     
     
    6,659
     
    Others(1)
     
     
    82,427
     
     
    90,032
     
     
    47,271
     
     
     
    $
    137,261
     
     
    128,501
     
     
    115,089
     
     
     
     
    Administration and other income
     
     
     
    For the years ended December 31,
     
     
     
    2017
     
    2016
     
    2015
     
     
     
    (in thousands)
     
    Associates(1)
     
    $
    14,311
     
     
    15,083
     
     
    21,132
     
    Joint ventures
     
     
    -
     
     
    8,301
     
     
    11,538
     
    Others(1)
     
     
    9,246
     
     
    5,174
     
     
    2,889
     
     
     
    $
    23,557
     
     
    28,558
     
     
    35,559
     
     
     
     
    Rental and other expenses
     
     
     
    For the years ended December 31,
     
     
     
    2017
     
    2016
     
    2015
     
     
     
    (in thousands)
     
    Associates(1)
     
    $
    28,017
     
     
    36,499
     
     
    104,415
     
    Joint ventures
     
     
    1,389
     
     
    21,821
     
     
    1,168
     
    Others(1)
     
     
    35,040
     
     
    55,131
     
     
    40,546
     
     
     
    $
    64,446
     
     
    113,451
     
     
    146,129
     
     
    (1)
    In May 2015, the Company ceased having significant influence over Qisda, as such Qisda was no longer an associate. However, Qisda and its subsidiaries still remained as a related party and the related transaction amounts starting from June 2015 are included in the “Others” category.
       
    The Company leased portion of its facilities to related parties. The collection term was 15 days from quarter-end, and the pricing was not materially different from that with third parties.
     
    For the years ended December 31, 2017, 2016 and 2015, cash dividends declared by related parties of $420,547 thousand, $307,481 thousand and $380,433 thousand, respectively, were received by the Company.