UNITED MICROELECTRONICS CORPORATION AND SUBSIDIARIES

Consolidated Condensed Statement of Cash Flows

For The Twelve-Month Period Ended December 31, 2014

 Figures in Millions of New Taiwan Dollars (NT$) and U.S. Dollars (US$)

USD

NTD

Cash flows from operating activities :

    Net income before tax

427

13,513

    Depreciation & Amortization

1,286

40,657

    Impairment loss on financial assets

10

305

    Impairment loss on non-financial assets

19

597

    Gain on disposal of investments

(75)

(2,378)

    Changes in notes & accounts receivable

(190)

(6,013)

    Changes in inventory

(60)

(1,894)

    Changes in payables

42

1,322

    Changes in assets, liabilities and others

(43)

(1,321)

Net cash provided by operating activities

1,416

44,788

Cash flows from investing activities :

    Acquisition of available-for-sale financial assets

(61)

(1,942)

    Proceeds from disposal of available-for-sale financial assets

105

3,311

    Acquisition of financial assets measured at cost

(15)

(489)

    Proceeds from disposal of financial assets measured at cost

21

677

    Acquisition of investments accounted for under the equity method

(6)

(182)

    Acquisition of property, plant and equipment

(1,367)

(43,237)

    Proceeds from disposal of property, plant and equipment

11

338

    Acquisition of intangible assets

(36)

(1,153)

    Others

1

71

Net cash used in investing activities

(1,347)

(42,606)

Cash flows from financing activities :

    Increase in short-term loans

131

4,135

    Proceeds from bonds issued

158

5,000

    Redemption of bonds

(447)

(14,137)

    Proceeds from long-term loans

199

6,284

    Repayments of long-term loans

(122)

(3,859)

    Cash dividends and cash paid from additional paid-in capital

(198)

(6,253)

    Others

18

572

Net cash used in financing activities

(261)

(8,258)

Effect of exchange rate changes on cash and cash equivalents

45

1,457

Net decrease in cash and cash equivalents

(147)

(4,619)

Cash and cash equivalents at beginning of period

1,608

50,831

Cash and cash equivalents at end of period

1,461

46,212

Reconciliation of the balances of cash and cash equivalents at end of period :

Cash and cash equivalents balances on the consolidated balance sheets

1,445

45,701

Cash and cash equivalents of disposal group included in non-current assets held for sale

16

511

Cash and cash equivalents at end of period

1,461

46,212

Note: New Taiwan Dollars have been translated into U.S. Dollars at the December 31, 2014 exchange rate of NT $31.62 per U.S. Dollar.

         All figures are prepared in accordance with TIFRSs.