Debt Service:
Net cash reserves - defined as the excess of cash and short-term marketable securities over interest-bearing debt - increased by NT$17.41 billion to NT$231.20 billion at the end of 2Q09, primarily due to free cash flow of NT$17.10 billion generated during this quarter.
IV. Cash Flow
IV - 1. Cash Flow Analysis
(In NT billions) 2Q09 1Q09 2Q08
Net Income 24.44 1.56 28.77
Depreciation & Amortization 20.05 20.48 20.03
Other Operating Sources/(Uses) (19.97) 4.75 (3.75)
Total Operating Sources/(Uses) 24.52 26.79 45.05
Capital Expenditure (7.42) (5.62) (22.27)
Marketable Financial Instruments 1.68 13.80 27.20
Other Investing Sources/(Uses) (0.25) (0.04) (1.33)
Net Investing Sources/(Uses) (5.99) 8.14 3.60
Repayment of Bonds Payable 0.00 (8.00) 0.00
Purchase of Treasury Stock 0.00 0.00 (6.62)
Other Financing Sources/(Uses) (0.34) 0.12 (0.23)
Net Financing Sources/(Uses) (0.34) (7.88) (6.85)
Net Cash Position Changes 18.19 27.05 41.80
Exchange Rate Changes & Others (1.93) 1.60 (0.73)
Ending Cash Balance 239.52 223.26 185.35
Summary of Cash Flow:
Cash generated from operating activities totaled NT$24.52 billion during 2Q09, down from NT$26.79 billion in 1Q09, mainly due to higher level of business activities.
Net cash used in investing activities was NT$5.99 billion in 2Q09, reflecting capital expenditure of NT$7.42 billion and a NT$1.68 billion net decrease in marketable financial instruments.
As a result, TSMC ended 2Q09 with a cash balance of NT$239.52 billion.
IV - 2. Operating and Free Cash Flows:
Operating and Free Cash Flows:
Cash flows generated from operating activities were NT$24.52 billion during the quarter. Free cash flow, defined as the excess of operating cash flows over capital expenditures, totaled NT$17.10 billion in 2Q09, compared to NT$21.17 billion in 1Q09.
Please refer to the link for the index charts: http://www.tsmc.com/uploadfile/ir/quarterly/index_charts.pdf
V. CapEx & Capacity
V - 1. Capital Expenditures
(In US millions) 1Q09 2Q09 YTD
TSMC 161 218 379
XinTec and GUC 2 3 5
TSMC Shanghai & WaferTech 3 3 6
Other TSMC Subsidiaries 0 0 0
Total TSMC 166 224 390
Capital Expenditures:
Capital expenditures for TSMC on a consolidated basis totaled US$224 million in 2Q09.
For year 2009, total capital expenditures for TSMC is expected to be around US$2.3 billion, compared with US$1.9 billion spent in 2008.
V-2. Capacity
4Q08 1Q09 2Q09 3Q09 4Q09 2009
Fab / (Wafer size) (A) (A) (A) (F) (F) (F)
Fab-2 (6") Note 1 272 274 280 283 283 1,121
Fab-3 (8") 274 286 289 292 283 1,150
Fab-5 (8") 161 162 149 144 144 599
Fab-6 (8") 282 295 284 287 287 1,154
Fab-8 (8") 272 275 271 265 255 1,066
Fab-12 (12") Note 2 221 218 219 199 241 878
Fab-14 (12") Note 2 236 238 238 237 240 952
WaferTech (8") 106 106 107 109 109 431
TSMC China (8") 128 128 134 135 135 531
TSMC total capacity
(8" equiv. Kpcs) 2,405 2,431 2,419 2,373 2,455 9,678
SSMC (8") 73 64 65 65 65 259
Total managed capacity
(8" equiv. Kpcs) 2,478 2,495 2,483 2,438 2,520 9,937
Note 1: Figures represent number of 6" wafers. Conversion to
8"-equivalent wafers is obtained by dividing this number by 1.78
Note 2: Figures represent number of 12" wafers. Conversion to
8"-equivalent wafers is obtained by multiplying this number by
2.25
Capacity:
