Hyundai 2000 Annual Report Download - page 51

49
2000 Annual Report •Hyundai-Motor Company
NOTES TO FINANCIAL STATEMENTS
December 31, 2000 and 1999
Equity securities accounted for using the equity method as of December 31, 2000 consist of the following:
(*) Use of the equity method was discontinued since the value of investments is less than zero due to an accumulated deficit.
The difference between the acquisition cost and the Company’s portion of an investee’s net equity at the date the Company
was considered to be able to exercise significant influence over the operating and financial policy of an investee is amortized
(or reversed) over 20 years, using the straight-line method. Significant unrealized profit (loss) that occurred in transactions with
investees are eliminated. The unamortized balance of goodwill as of December 31, 2000 is ￦150,681 million ($119,617
thousand). Investments, excluding those in Kia Motor Corporation, Hyundai HYSCO(formerly Hyundai Pipe Co., Ltd.), Hyundai
Capital Service Inc. and KEFICO, are valued based on the latest financial statements since investees did not prepare financial
statements as of December 31, 2000. The difference of ￦11,814 million ($9,378 thousand) between historical cost and equity
value has been accounted for as a credit of ￦111,937 million ($88,860 thousand) to beginning retained earnings, a charge to
retained earnings of ￦28,613 million ($22,713 thousand), gain on valuation of ￦70,675 million ($56,103 thousand) reflected in
current operations and loss on valuation of ￦142,185 million ($112,872 thousand) reflected in capital adjustments.
Hyundai Motor India
Hyundai Motor America (*)
Hyundai America Technical Center Inc.
Hyundai Machine Tool Europe GmbH
Hyundai Motor Japan Co.
Hyundai Motor Poland Sp.zo.o.
Hyundai Motor Europe Parts
HMJ R&D Center Inc.
Hyundai Precision America Inc.
Hyundai Capital Service Inc.
HAOSVT (Turkey)
Korea Drive Train System
Korea Rolling Stock Co.
Korea Space & Aircraft Co., Ltd.
e-HD.com
Kia Motor Corporation
Beijing Hyundai Namyang
Real Estate Development center Ltd.
KEFICO
Hyundai Space & Aircraft Co., Ltd.
Korea Economy Daily
Wuhan Grand Motor Co., Ltd.
Hyundai-Kia-Yueda Motor Company
Iljin Forging Co., Ltd.
Daesung Automotive Co., Ltd.
Hyundai HYSCO
(formerly Hyundai Pipe Co., Ltd.)
Book value Ownership
Percentage
$ 164,488
-
8,643
20,034
8,853
8,797
1,129
1,636
66,000
269,717
17,671
26,443
79,669
76,538
2,643
859,447
5,836
33,709
36,223
17,614
6,137
2,663
3,998
1,901
143,224
$ 1,863,013
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
85.57
50.00
49.93
39.18
33.33
33.30
30.15
30.00
29.94
25.96
22.75
21.43
20.00
20.00
20.00
23.43
Acquisition cost
$ 193,710
102,867
4,728
20,161
8,853
8,797
2,155
1,199
59,520
216,379
38,138
26,368
90,255
76,526
2,643
711,155
5,836
16,600
89,382
10,980
4,368
2,663
656
318
159,378
$ 1,853,635
Book value
￦207,205
-
10,887
25,237
11,152
11,082
1,422
2,061
83,140
339,763
22,260
33,310
100,359
96,416
3,330
1,082,645
7,351
42,463
45,630
22,188
7,731
3,354
5,038
2,395
180,419
￦
￦2,346,838
AcquisitioncostAffiliated Company
￦244,017
129,582
5,956
25,397
11,152
11,082
2,715
1,510
74,977
272,573
48,042
33,216
113,694
96,400
3,330
895,842
7,351
20,911
112,595
13,832
5,502
3,354
826
400
200,768
￦
￦2,335,024
U.S. dollars (Note 2)
(in thousands)
Korean won
(in millions)