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HYUNDAI MOTOR COMPANY I 2010 ANNUAL REPORT I 97HYUNDAI MOTOR COMPANY I 2010 ANNUAL REPORT I 96
HYUNDAI MOTOR COMPANY
>>
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2009 AND 2008
HYUNDAI MOTOR COMPANY
>>
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2009 AND 2008
Affiliated company
Beginning
of year
Acquisition
(disposal)
Gain (loss)
on valuation
Other
changes (*) End of year End of year
Seoul Sung Bo Chiup LLC ￦ -￦ 4,237 ￦ -￦ -￦ 4,237 $ 3,629
Morningstar Korea Co., Ltd. - (130) - 2,803 2,673 2,289
HAE - - - 1,005 1,005 861
HAIE - - - 925 925 792
HAA - - - 450 450 385
Kia Motors Manufacturing Georgia Inc. 74,425 - - (74,425) - -
Hyundai Motor Commonwealth of Independent States 18,333 - - (18,333) - -
Dymos Czech Republic s.r.o 898 - (1,018) 120 - -
Eurotem DEMIRYOLU ARACLARI SAN. VE TIC A.S. 1,538 - - (1,538) - -
Autoever Systems Europe GmbH 1,745 - - (1,745) - -
￦ 2,035,078 ￦ 85,345 ￦ 356,972 ￦ 224,941 ￦ 2,702,336 ￦ 2,314,436
Korean Won in millions
U.S. Dollars (Note 2)
in thousands
(*) Other changes consist of the decrease by ￦63,242 million (US$54,164 thousand) due to receipt of dividends, decrease of retained earnings by ￦417 million (US$357
thousand), increase of accumulated other comprehensive income by ￦367,732 million (US$314,947 thousand) and decrease of ￦79,132 million (US$67,773 thousand)
due to changes of consolidated subsidiaries.
(3) Condensed financial information of the affiliates as of and for the year ended December 31, 2009 is as follows:
Affiliated company Assets Liabilities Sales
Net income
(loss) Assets Liabilities Sales
Net income
(loss)
Hyundai Steel Company ￦ 15,580,398 ￦ 8,973,935 ￦ 7,966,444 ￦ 1,151,997 $ 13,343,952 $ 7,685,796 $ 6,822,922 $ 986,637
HMC Investment Securities Co., Ltd. 1,920,950 1,349,438 271,440 28,368 1,645,212 1,155,737 232,477 24,296
Hyundai MOBIS 11,106,365 3,339,531 10,633,020 1,615,220 9,512,132 2,860,167 9,106,732 1,383,368
Korea Aerospace Industries, Ltd. 1,274,400 775,900 1,131,100 43,000 1,091,470 664,526 968,739 36,828
Eukor Car Carriers, Inc. 2,307,092 1,722,877 2,077,425 67,669 1,975,927 1,475,571 1,779,227 57,956
HK Mutual Savings Bank 2,228,843 2,111,088 303,250 (4,467) 1,908,910 1,808,058 259,721 (3,826)
Korea Economy Daily 192,300 65,400 118,700 8,400 164,697 56,012 101,662 7,194
Kia Tigers Co., Ltd. 3,956 4,560 25,492 (33) 3,388 3,905 21,833 (28)
Donghui Auto Co., Ltd. 126,521 95,742 129,513 3,581 108,360 81,999 110,922 3,067
Hyundai Amco Co., Ltd. 813,195 405,258 1,081,273 45,428 696,467 347,086 926,065 38,907
TRW Steering Co., Ltd. 91,050 68,529 155,218 (279) 77,980 58,692 132,938 (239)
Korea Credit Bureau Co., Ltd. 36,807 6,040 27,353 648 31,524 5,173 23,427 555
Wisco Co., Ltd. 252,749 181,008 303,414 7,842 216,469 155,026 259,861 6,716
Korean Won in millions U.S. Dollars (Note 2) in thousands
Affiliated company Assets Liabilities Sales
Net income
(loss) Assets Liabilities Sales
Net income
(loss)
Iljin Bearing Co., Ltd. ￦ 127,973 ￦ 36,969 ￦ 178,164 ￦ 7,483 $ 109,603 $ 31,662 $ 152,590 $ 6,409
Daesung Automotive Co., Ltd. 81,875 15,908 57,715 9,805 70,122 13,625 49,430 8,398
Beijing-Hyundai Motor Company 4,352,779 2,337,023 8,897,818 607,836 3,727,971 2,001,561 7,620,605 520,586
Hyundai Motor Deutschland GmbH 263,637 155,180 1,423,486 25,775 225,794 132,905 1,219,156 22,075
Hyundai WIA Magna Power
Train Co., Ltd. 22,331 9,033 - (1,701) 19,126 7,736 - (1,457)
KEFICO Vietnam Company Limited 7,818 1,977 - (73) 6,696 1,693 - (63)
Hyundai Motor Hungary 3,866 1,670 - - 3,311 1,430 - -
Autoever Systems America, Inc. 4,638 16 761 456 3,972 14 652 391
KEFICO Automotive Systems
(Beijing) Co., Ltd. 45,750 39,783 97,396 2,702 39,183 34,072 83,416 2,314
Beijing Lear Dymos Automotive
Systems Co., Ltd. 74,067 54,903 172,542 8,524 63,435 47,022 147,775 7,300
Hyundai Motor Japan R&D Center Inc. 8,191 5,246 16,470 56 7,015 4,493 14,106 48
Hyundai Capital Germany GmbH 3,383 54 48 21 2,897 46 41 18
Autoever Systems China Co., Ltd. 2,191 1,036 6,367 119 1,876 887 5,453 102
Autoever Systems India Pvt. Ltd. 3,003 1,735 7,946 239 2,572 1,486 6,805 205
MAINTRANCE 1,805 843 4,269 358 1,546 722 3,656 307
South Link9 18,000 12,094 36,755 2,367 15,416 10,358 31,479 2,027
Rotem Equipments (Beijing) Co., Ltd. 366 163 - (121) 313 140 - (104)
HMMB 137 - - - 117 - - -
EUKOR Shipowning Singapore Pte Ltd.
112,063 94,763 33,234 33,177 95,977 81,161 28,464 28,415
Hyundai Rotem Automotive 650 526 1,710 44 557 450 1,465 38
Korean Won in millions U.S. Dollars (Note 2) in thousands
(4) Significant unrealized profits (losses) that occurred in transactions with investees in 2009 and 2008 are ￦15,679 million ($13,428 thousand) and ￦21,634 million ($18,529
thousand), respectively.
(5) Unamortized (or unreversed) balances of goodwill and negative goodwill as of December 31, 2009 are ￦89,115 million (US$76,323 thousand) and ￦258,513 million
(US$221,405 thousand), respectively. In addition, unamortized (or unreversed) balances of goodwill and negative goodwill as of December 31, 2008 are ￦14,358 million
(US$12,297 thousand) and ￦286,159 million (US$245,083 thousand), respectively.
(6) The market price of listed equity securities as of December 31, 2009 is as follows:
Affiliated company Price per share Number of shares Market value Market value
Hyundai MOBIS ￦ 171,000 ￦ 16,427,074 ￦ 2,809,030 $ 2,405,815
Hyundai Steel Company 86,500 18,159,517 1,570,798 1,345,322
HMC Investment Securities Co., Ltd. 21,700 8,784,816 190,631 163,267
Korean Won in millions
U. S. Dollars (Note 2)
in thousands