Page 48 - 2021 CPC Corporation,Taiwan

CPC Corporation, Taiwan
During the year ended 2020 the loss before tax of Exploration and exploitation business division has increased as compared to the year ended 2019; this was mainly due to the impairment of mining area. The refining and sales division suffered losses due to the drop in oil prices and the impact of the COVID-19.
The capital expenditure incurred in 2020 was NT$33,736 million, a 38.77% decrease from 2019; this was mainly due to adopt IFRS 16 from the beginning on January 1, 2019. On transition to IFRS 16, the Company recognized additional NT$40,187 million of right-of-use assets in 2019.
The breakdown of the expenditure was as follows: Production & manufacturing45.93%
Marketing & transportation 21.40%
Others 32.67%
The exchange rate between the NT dollar and the US dollar was 28.097:1 on December 31, 2020.
STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019
(In Thousands of New Taiwan Dollars)
Operating Revenues
Sales
Other operating revenues
Total operating revenues Operating Costs and Expenses
Cost of goods sold
Exploration expenses
Oil and gas transmission and storage expenses Other operating costs
Total operating costs
Gross Profit(Loss)
Operating Expenses
Non-Operating Income and Gains Non-Operating Expenses and Losses INCOME (LOSS) BEFORE INCOME TAX Income Tax Expense (Benefit)
NET INCOME (LOSS) FOR THE YEAR
2020
$713,747,247
7,953,696 721,700,943
682,590,726 1,712,403 12,156,335 15,807,765 712,267,229 9,433,714 20,153,836 9,724,748 6,707,832 (7,703,206) (361,653) $(7,341,553)
2019
$1,004,844,431
9,263,603 1,014,108,034
931,947,648 2,031,934 10,631,088 11,737,534 956,348,204 57,759,830 21,546,875 4,819,308 7,694,931 33,337,332 894,513 $32,442,819