UMC Reports Fourth Quarter 2016 Results

² Revenue in this section represents wafer sales

³ Utilization Rate = Quarterly Wafer Out / Quarterly Capacity

⁴ Estimated capacity numbers are based on calculated maximum output rather than designed capacity. The actual capacity numbers may differ depending upon equipment delivery schedules, pace of migration to more advanced process technologies, and other factors affecting production ramp-up.


UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Balance Sheet
As of December 31, 2016
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)


	December 31, 2016
	US$		NT$		%
Assets
Current assets
Cash and cash equivalents	1,785		57,579		14.9	%
Financial assets at fair value through profit or loss, current	22		714		0.2	%
Notes & Accounts receivable, net	715		23,046		6.0	%
Inventories, net	527		16,998		4.4	%
Other current assets	376		12,133		3.1	%
Total current assets	3,425		110,470		28.6	%

Non-current assets
Funds and investments	1,078		34,766		9.0	%
Property, plant and equipment	6,976		224,983		58.2	%
Other non-current assets	510		16,436		4.2	%
Total non-current assets	8,564		276,185		71.4	%
Total assets	11,989		386,655		100.0	%

Liabilities
Current liabilities
Short-term loans	637		20,551		5.3	%
Financial liabilities at fair value through profit or loss, current	2		61		0.0	%
Payables	1,162		37,476		9.7	%
Current portion of long-term liabilities	326		10,501		2.7	%
Other current liabilities	105		3,389		0.9	%
Total current liabilities	2,232		71,978		18.6	%

Non-current liabilities
Bonds payable	1,069		34,482		8.9	%
Long-term loans	814		26,247		6.8	%
Other non-current liabilities	1,091		35,206		9.1	%
Total non-current liabilities	2,974		95,935		24.8	%
Total liabilities	5,206		167,913		43.4	%

Equity
Equity attributable to the parent company
Capital	3,915		126,243		32.7	%
Additional paid-in capital	1,271		40,997		10.6	%
Retained earnings, unrealized gain or loss on available-for-sale financial assets and exchange differences on translation of foreign operations	1,676		54,059		13.9	%
Treasury stock	(146	)	(4,719	)	(1.2	%)
Total equity attributable to the parent company	6,716		216,580		56.0	%
Non-controlling interests	67		2,162		0.6	%
Total equity	6,783		218,742		56.6	%
Total liabilities and equity	11,989		386,655		100.0	%

Note：New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2016 exchange rate of NT $32.25 per U.S. Dollar.


UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data


	Year over Year Comparison										Quarter over Quarter Comparison
	Three-Month Period Ended										Three-Month Period Ended
	December 31, 2016				December 31, 2015				Chg.		December 31, 2016				September 30, 2016				Chg.
	US$		NT$		US$		NT$		%		US$		NT$		US$		NT$		%
Net operating revenues	1,188		38,306		1,050		33,849		13.2	%	1,188		38,306		1,183		38,164		0.4	%
Operating costs	(916	)	(29,547	)	(834	)	(26,870	)	10.0	%	(916	)	(29,547	)	(926	)	(29,863	)	(1.1	%)
Gross profit	272		8,759		216		6,979		25.5	%	272		8,759		257		8,301		5.5	%
	22.9	%	22.9	%	20.6	%	20.6	%			22.9	%	22.9	%	21.8	%	21.8	%
Operating expenses
- Sales and marketing expenses	(40	)	(1,282	)	(32	)	(1,044	)	22.8	%	(40	)	(1,282	)	(37	)	(1,207	)	6.2	%
- General and administrative expenses	(47	)	(1,521	)	(29	)	(916	)	66.0	%	(47	)	(1,521	)	(55	)	(1,769	)	(14.0	%)
- Research and development expenses	(118	)	(3,824	)	(96	)	(3,105	)	23.2	%	(118	)	(3,824	)	(105	)	(3,397	)	12.6	%
Subtotal	(205	)	(6,627	)	(157	)	(5,065	)	30.8	%	(205	)	(6,627	)	(197	)	(6,373	)	4.0	%
Net other operating income and expenses	4		144		(1	)	(34	)	-		4		144		(14	)	(443	)	-
Operating income	71		2,276		58		1,880		21.1	%	71		2,276		46		1,485		53.3	%
	5.9	%	5.9	%	5.6	%	5.6	%			5.9	%	5.9	%	3.9	%	3.9	%

Net non-operating income and expenses	(38	)	(1,210	)	28		906		-		(38	)	(1,210	)	14		466		-
Income from continuing operations before income tax	33		1,066		86		2,786		(61.7	%)	33		1,066		60		1,951		(45.4	%)
	2.8	%	2.8	%	8.2	%	8.2	%			2.8	%	2.8	%	5.1	%	5.1	%

Income tax benefit (expense)	(19	)	(617	)	9		285		-		(19	)	(617	)	(6	)	(195	)	216.4	%
Net income	14		449		95		3,071		(85.4	%)	14		449		54		1,756		(74.4	%)
	1.2	%	1.2	%	9.1	%	9.1	%			1.2	%	1.2	%	4.6	%	4.6	%

Other comprehensive income (loss)	(18	)	(591	)	55		1,776		-		(18	)	(591	)	(68	)	(2,213	)	(73.3	%)

Total comprehensive income (loss)	(4	)	(142	)	150		4,847		-		(4	)	(142	)	(14	)	(457	)	(68.9	%)

Net income attributable to:
Stockholders of the parent	79		2,548		98		3,160		(19.4	%)	79		2,548		92		2,975		(14.4	%)
Non-controlling interests	(65	)	(2,099	)	(3	)	(89	)	2,258.4	%	(65	)	(2,099	)	(38	)	(1,219	)	72.2	%

Comprehensive income (loss) attributable to:
Stockholders of the parent	59		1,902		154		4,961		(61.7	%)	59		1,902		25		802		137.2	%
Non-controlling interests	(63	)	(2,044	)	(4	)	(114	)	1,693.0	%	(63	)	(2,044	)	(39	)	(1,259	)	62.4	%

Earnings per share-basic	0.007		0.21		0.008		0.25				0.007		0.21		0.007		0.24
Earnings per ADS ⁽²⁾	0.033		1.05		0.039		1.25				0.033		1.05		0.037		1.20
Weighted average number of shares
outstanding (in millions)			12,208				12,408						12,208				12,208


Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2016 exchange rate of NT $32.25 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.


UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statements of Comprehensive Income
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)
Except Per Share and Per ADS Data

	For the Three-Month Period Ended						For the Twelve-Month Period Ended
	December 31, 2016						December 31, 2016
	US$		NT$		%		US$		NT$		%
Net operating revenues	1,188		38,306		100.0	%	4,585		147,870		100.0	%
Operating costs	(916	)	(29,547	)	(77.1	%)	(3,643	)	(117,491	)	(79.5	%)
Gross profit	272		8,759		22.9	%	942		30,379		20.5	%


Operating expenses
- Sales and marketing expenses	(40	)	(1,282	)	(3.3	%)	(142	)	(4,589	)	(3.1	%)
- General and administrative expenses	(47	)	(1,521	)	(4.0	%)	(180	)	(5,801	)	(3.9	%)
- Research and development expenses	(118	)	(3,824	)	(10.0	%)	(420	)	(13,532	)	(9.1	%)
Subtotal	(205	)	(6,627	)	(17.3	%)	(742	)	(23,922	)	(16.1	%)
Net other operating income and expenses	4		144		0.3	%	(8	)	(263	)	(0.2	%)
Operating income	71		2,276		5.9	%	192		6,194		4.2	%

Net non-operating income and expenses	(38	)	(1,210	)	(3.1	%)	(42	)	(1,347	)	(0.9	%)
Income from continuing operations before income tax	33		1,066		2.8	%	150		4,847		3.3	%


Income tax expense	(19	)	(617	)	(1.6	%)	(30	)	(984	)	(0.7	%)
Net income	14		449		1.2	%	120		3,863		2.6	%

Other comprehensive income (loss)	(18	)	(591	)	(1.6	%)	(136	)	(4,365	)	(2.9	%)

Total comprehensive income (loss)	(4	)	(142	)	(0.4	%)	(16	)	(502	)	(0.3	%)

Net income attributable to:
Stockholders of the parent	79		2,548		6.7	%	258		8,316		5.6	%
Non-controlling interests	(65	)	(2,099	)	(5.5	%)	(138	)	(4,453	)	(3.0	%)

Comprehensive income (loss) attributable to:
Stockholders of the parent	59		1,902		5.0	%	124		3,983		2.7	%
Non-controlling interests	(63	)	(2,044	)	(5.4	%)	(140	)	(4,485	)	(3.0	%)

Earnings per share-basic	0.007		0.21				0.021		0.68
Earnings per ADS ⁽²⁾	0.033		1.05				0.105		3.40

Weighted average number of shares outstanding (in millions)			12,208						12,289

Notes:
(1) New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2016 exchange rate of NT $32.25 per U.S. Dollar.
(2) 1 ADS equals 5 common shares.


UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES
Consolidated Condensed Statement of Cash Flows
For The Twelve-Month Period Ended December 31, 2016
Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

	US$		NT$
Cash flows from operating activities :
Net income before tax	150		4,847
Depreciation & Amortization	1,612		51,984
Gain on disposal of investments	(65	)	(2,098	)
Changes in notes & accounts receivable	(114	)	(3,690	)
Changes in prepayments	(293	)	(9,456	)
Changes in payables	40		1,304
Changes in other current liabilities	43		1,398
Changes in assets, liabilities and others	139		4,483
Income tax paid	(72	)	(2,322	)
Net cash provided by operating activities	1,440		46,450

Cash flows from investing activities :
Proceeds from disposal of available-for-sale financial assets	112		3,626
Acquisition of property, plant and equipment	(2,839	)	(91,561	)
Acquisition of intangible assets	(48	)	(1,554	)
Others	292		9,403
Net cash used in investing activities	(2,483	)	(80,086	)

Cash flows from financing activities :
Increase in short-term loans	469		15,129
Proceeds from long-term loans	764		24,629
Repayments of long-term loans	(236	)	(7,624	)
Increase in other financial liabilities	495		15,979
Cash dividends	(214	)	(6,907	)
Treasury stock acquired	(74	)	(2,396	)
Others	(1	)	(15	)
Net cash provided by financing activities	1,203		38,795

Effect of exchange rate changes on cash and cash equivalents	(27	)	(870	)
Net Increase in cash and cash equivalents	133		4,289

Cash and cash equivalents at beginning of period	1,652		53,290

Cash and cash equivalents at end of period	1,785		57,579


Note: New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2016 exchange rate of NT $32.25 per U.S. Dollar.

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 Next Page »