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(version en ingles)
International Cooperation and Development Fund
Statements of Cash Flows

For the Years Ended December 31, 2016 and 2015
(Expressed in NT$)

2016 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Excess of revenues over expenses $ 7,069,271 $ 59,323,768
Adjustments to reconcile excess of revenues over expenses to
net cash (used in) provided by operating activities:
Depreciation 4,545,577 3,458,495
Amortization 6,323,170 2,196,408
Reversal of allowance for bad debts ( 10,078,349 ) ( 4,550,445 )
Held-to-maturity financial assets - interest amortization 6,193,379 7,221,485
Impairment loss on financial assets carried at cost - 12,616,040
Gain on disposal of investment ( 33,662,687 ) -
Loss on disposal of fixed assets 909,504 368,528
Changes in assets and liabilities:
Receivables 9,425,533 13,927,209
Prepayments ( 3,112,115 ) ( 3,888,241 )
Other current assets ( 19,422,422 ) ( 476,971 )
Accrued expenses 265,752 ( 12,658,914 )
Other payables ( 138,142,533 ) 49,437,564
Unearned revenue ( 69,600 ) 2,400
Collections payable ( 2,393 ) ( 639,729 )
Other current liabilities ( 48,147 ) ( 4,396,433 )
Other liabilities 345,580 2,000
Cash (used in) provided by operations ( 169,460,480 ) 121,943,164
Net cash (used in) provided by operating activities ( 169,460,480 ) 121,943,164
CASH FLOWS FROM INVESTING ACTIVITIES
Increase in long-term lending ( 276,465,851 ) ( 388,926,789 )
Proceeds from long-term loans receivable 409,747,510 463,621,074
Acquisition of available-for-sale financial assets ( 57,373,616 ) ( 269,418,126 )
Proceeds from disposal of available-for-sale financial assets 325,638,210 -
Acquisition of held-to-maturity financial assets ( 940,845,878 ) ( 758,787,176 )
Proceeds upon maturity of held-to-maturity financial assets 91,354,387 505,769,824
Acquisition of financial assets carried at cost ( 134,870,072 ) ( 1,004,407 )
Withdrawal of financial assets carried at cost - 325,000,000
Acquisition of fixed assets ( 6,006,527 ) ( 10,044,824 )
Proceeds from disposal of fixed assets - 66,570
(Increase) decrease in deposits-out ( 345,580 ) 21,112
Increase in deferred assets ( 7,494,921 ) ( 17,755,199 )
Net cash used in investing activities ( 596,662,338 ) ( 151,457,941 )
CASH FLOWS FROM FINANCING ACTIVITY
Increase (decrease) in deposits-in 9,719,000 ( 3,758,000 )
Net cash flows from (used in) financing activities 9,719,000 ( 3,758,000 )
NET DECREASE IN CASH AND CASH EQUIVALENTS ( 756,403,818 ) ( 33,272,777 )
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 7,631,214,015 7,664,486,792
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR $ 6,874,810,197 $ 7,631,214,015

The accompanying notes are an integral part of these financial statements. See report of independent accountants dated
March 22, 2017.

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