Hyundai 2001 Annual Report Download - page 61

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December 31, 2001 and 2000
The computation of the proposed dividends for 2000 is as follows:
Common shares, net of treasury shares
Preferred shares, net of treasury shares:
Old
New
"123,195
15,913
26,279
"
"165,387
$92,900
12,000
19,817
$124,717
12%
13%
14%
205,325,212
24,482,541
37,541,005
U.S. dollars (Note 2)
(in thousands)
Korean won
(in millions)Dividend rateNumber of Shares
(*) Actual payments of dividends payable amount to "165,356 million ($124,694 thousand) in 2001.
18. Income Tax Expense and Deferred Income Tax Assets
Income tax expense in 2001 and 2000 consists of the following:
Description
Income tax currently payable
Changes in deferred income taxes due to:
Temporary differences
Increase of beginning retained earnings due to
the change of accounting policy
Increase of beginning retained earnings
through the equity method
Tax credit carried over
Deduction of capital surplus and
retained earnings
Income tax expense
2001
$ 356,899
(49,041)
7,285
17,550
48,500
(3,681)
20,613
$ 377,512
2000
$ 131,667
(46,978)
-
-
-
-
(46,978)
$ 84,689
2000
"174,603
(62,297)
-
-
-
-
(62,297)
"
"112,306
2001
"473,284
(65,033)
9,660
23,273
64,316
(4,881)
27,335
"
"500,619
U.S. dollars (Note 2)
(in thousands)
Korean won
(in millions)
In 2001 and 2000, the differences between income before tax in financial accounting and taxable income pursuant to
Corporate Income Tax Law of Korea are as follows:
Description
Income before tax
Addition
Deduction
Taxable income
2001
$ 1,256,329
1,067,974
(842,784)
$ 1,481,519
2000
$ 588,324
560,024
(399,144)
$ 749,204
2000
"780,177
742,648
(529,305)
"
"993,520
2001
"1,660,018
1,416,241
(1,117,616)
"
"1,964,643
U.S. dollars (Note 2)
(in thousands)
Korean won
(in millions)
N
OTES TO
N
ON
-C
ONSOLIDATED
F
INANCIAL
S
TATEMENTS
63
2001 Annual ReportHyundai Motor Company