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55
2000 Annual Report •Hyundai-Motor Company
NOTES TO FINANCIAL STATEMENTS
December 31, 2000 and 1999
Beginning of the year
Addition:
Expenditures for the year
Deduction:
Ordinary development and
research expenses
Amortization
End of the year
2000
$ 418,947
421,920
(9,204)
(108,819)
$ 722,844
1999
$ 159,532
302,963
(8,359)
(35,189)
$ 418,947
1999
￦200,963
381,642
(10,530)
(44,327)
￦
￦527,748
2000
￦527,748
531,493
(11,596)
(137,079)
￦
￦910,566
U.S. dollars (Note 2)
(in thousands)
Korean won
(in millions)
Long-term notes and accounts receivable,
less unamortized present value
discount of ￦8,622 million in 2000 and
￦2,340 million in 1999 (Note 2
Other long-term accounts receivable
Lease and rental deposits
Long-term deposits
Accrued gain on valuation of
derivatives (See Note 2)
Other
2000
$ 5,789
219,102
156,047
231,769
-
143,089
$ 755,796
1999
$ 34,210
-
171,335
300,415
9,579
125,855
$ 641,395
1999
￦43,094
-
215,831
378,433
12,067
158,540
￦
￦807,965
2000
￦7,293
276,002
196,572
291,960
-
180,249
￦
￦952,076
U.S. dollars (Note 2)
(in thousands)
Korean won
(in millions)
Development costs as of December 31, 2000 and 1999 are as follows:
Development costs are amortized over a period not to exceed 5 years from the date of usage of the related products using the
straight-line method. Ordinary development expenses and research expenses are charged to current operations as selling and
administrative expenses.
9. Other Assets
Other assets as of December 31, 2000 and 1999 consist of the following:
10. Short-term Borrowings
Short-term borrowings as of December 31, 2000 and 1999 amount to ￦526,500 million ($417,957 thousand) and ￦267,931
million ($212,694 thousand), respectively, and consist primarily of bank loans and export financing loans with annual interest
rates ranging from 6.15 percent to 11.5 percent. These borrowings are secured by certain bank deposits, investment securities
and property, plant and equipment (See Note 6).