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94 HYUNDAI MOTOR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006
The components of accumulated temporary differences and deferred tax assets (liabilities) as of December 31, 2007 are as follows:
Korean Won
(In millions)
Translation into
U.S. Dollars (Note 2)
(In thousands)
Description Accumulated Deferred Accumulated Deferred
temporary tax assets temporary tax assets
differences (liabilities) differences (liabilities)
Accrued warranties 4,063,389 1,138,700 $4,331,048 $1,213,707
Long-term investment securities (825,616) (323,560) (880,000) (344,873)
Allowance for doubtful accounts 503,244 139,618 536,393 148,815
Other non-current assets (2,932,463) (1,017,114) (3,125,627) (1,084,112)
Reserve for research and manpower
development (376,993) (96,250) (401,826) (102,590)
Derivative assets 443,868 123,142 473,106 131,253
Development cost 38 9 41 10
Depreciation (368,282) (103,848) (392,541) (110,689)
Accrued income (85,128) (23,394) (90,735) (24,935)
Dividends 7,745 2,130 8,255 2,270
Advanced depreciation provisions (509,692) (2,972) (543,266) (3,168)
Other 1,847,688 545,511 1,969,396 581,445
Accumulated temporary differences 1,767,798 381,972 1,884,244 407,133
Carry over tax deduction 439,542 443,936 468,495 473,178
2,207,340 825,908 $2,352,739 $880,311
The components of accumulated temporary differences and deferred tax assets (liabilities) as of December 31, 2006 are as follows:
Korean Won
(In millions)
Translation into
U.S. Dollars (Note 2)
(In thousands)
Description Accumulated Deferred Accumulated Deferred
temporary tax assets temporary tax assets
differences (liabilities) differences (liabilities)
Accrued warranties 4,186,016 1,151,154 $4,461,752 $1,226,981
Long-term investment securities 253,414 (16,770) 270,107 (17,875)
Allowance for doubtful accounts 254,688 70,039 271,465 74,653
Other non-current assets (1,805,122) (628,300) (1,924,027) (669,687)
Reserve for research and manpower
development (685,799) (188,595) (730,973) (201,018)
Derivative liabilities (158,598) (43,614) (169,045) (46,487)
Development cost (16,574) (4,558) (17,666) (4,858)
Depreciation (322,151) (106,456) (343,371) (113,468)
Accrued income (272,258) (74,871) (290,192) (79,803)
Dividends 7,745 2,130 8,255 2,270
Advanced depreciation provisions (509,786) (8,352) (543,366) (8,902)
Other 781,439 329,119 832,913 350,799
Accumulated temporary differences 1,713,014 480,926 1,825,852 512,605
Carry over tax deduction 396,445 416,730 422,559 444,180
2,109,459 897,656 $2,248,411 $956,785