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Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM)
Change In Receivables
$-17 Mil (As of Dec. 2014)

Taiwan Semiconductor Manufacturing Co Ltd's change in receivables for the quarter that ended in Dec. 2014 was $-17 Mil. It means Taiwan Semiconductor Manufacturing Co Ltd's accounts receivables declined by $17 Mil from Sep. 2014 to Dec. 2014 .

Taiwan Semiconductor Manufacturing Co Ltd's change in receivables for the fiscal year that ended in Dec. 2014 was $-1,376 Mil. It means Taiwan Semiconductor Manufacturing Co Ltd's accounts receivables declined by $1,376 Mil from Dec. 2013 to Dec. 2014 .

Taiwan Semiconductor Manufacturing Co Ltd's accounts receivables for the quarter that ended in Dec. 2014 was $3,675 Mil.

Days sales outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed. Taiwan Semiconductor Manufacturing Co Ltd's days sales outstanding for the three months ended in Dec. 2014 was 47.25.

In Ben Graham’s calculation of liquidation value, Apple Inc's accounts receivables are only considered to be worth 75% of book value. Taiwan Semiconductor Manufacturing Co Ltd's liquidation value for the three months ended in Dec. 2014 was $2,787 Mil.


Definition

Change In Accounts Receivable relative to the previous period. It is any increase or decrease in the cash a company is owed by its customers.


Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days sales outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Taiwan Semiconductor Manufacturing Co Ltd's Days Sales Outstanding for the quarter that ended in Dec. 2014 is calculated as:

Days Sales Outstanding
=Account Receivable/Revenue*Days in Period
=3675.25732093/7098.01217789*91
=47.25

2. In Ben Graham’s calculation of liquidation value, Taiwan Semiconductor Manufacturing Co Ltd's accounts receivable are only considered to be worth 75% of book value:

Taiwan Semiconductor Manufacturing Co Ltd's liquidation value for the quarter that ended in Dec. 2014 is calculated as:

Liquidation Value
=Cash and Cash Equivalents-Total Liabilities+(0.75 * Account Receivable)+(0.5 * Inventory)
=14047.0274529-15074.6685209+0.75 * 3675.25732093+0.5 * 2115.91641974
=2,787

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.


Related Terms

Days Sales Outstanding, Account Receivable, Revenue, NCAV, Cash and Cash Equivalents, Total Liabilities, Inventory


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Taiwan Semiconductor Manufacturing Co Ltd Annual Data

Dec05Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14
ChangeInReceivables -325222-319726-524-25442-419-481-1,376

Taiwan Semiconductor Manufacturing Co Ltd Quarterly Data

Sep12Dec12Mar13Jun13Sep13Dec13Mar14Jun14Sep14Dec14
ChangeInReceivables -131246-261-50126259-79-418-918-17
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