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HYUNDAI MOTOR COMPANY I 2010 ANNUAL REPORT I 127HYUNDAI MOTOR COMPANY I 2010 ANNUAL REPORT I 126
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
As of December 31, 2008, significant balances related to the transactions other than the consolidated subsidiaries are as follows:
(2) As of December 31, 2009, significant balances related to the transactions other than the consolidated subsidiaries are as follows:
Companies Related party Receivables Payables Receivables Payables
Hyundai Motor Company Hyundai Mobis ￦ 193,958 ￦ 1,072,707 $ 166,117 $ 918,728
Asset Management Co., Ltd. 277 51,863 237 44,418
Glovis Co., Ltd. 17,205 69,622 14,735 59,628
Beijing Hyundai Motor Company 89,385 307 76,554 263
Hyundai Steel Company 1,606 21,883 1,375 18,742
Eukor Car Carriers Inc. 7 49,834 6 42,681
HMC Investment Securities Co., Ltd. - 28,526 - 24,431
IHL Corporation 20 15,892 17 13,611
BNG Steel Co., Ltd. 1 17,470 1 14,962
Innocean Worldwide Inc. 1,565 39,788 1,340 34,077
Wisco Co., Ltd. 429 26,042 367 22,304
Samwoo Co., Ltd. 1,368 67,895 1,172 58,149
Kia Motors Corporation Hyundai Mobis 24,457 478,058 20,946 409,436
Asset Management Co., Ltd. - 13,816 - 11,833
Glovis Co., Ltd. 1,314 72,981 1,125 62,505
Eukor Car Carriers Inc. - 22,503 - 19,273
Korean Won in millions U.S. Dollars (Note 2) in thousands
Companies Related party Receivables Payables Receivables Payables
Hyundai Motor Company Hyundai Mobis ￦ 75,275 ￦ 650,614 $ 64,470 $ 557,223
Asset Management Co., Ltd. 329 61,267 282 52,473
Glovis Co., Ltd. 502 43,426 430 37,193
Beijing Hyundai Motor Company 41,733 887 35,743 760
Hyundai Steel Company 857 21,887 734 18,745
Eukor Car Carriers Inc. 25 103,329 21 88,497
HMC Investment Securities Co., Ltd. 36 - 31 -
IHL Corporation 36 19,551 31 16,745
BNG Steel Co., Ltd. 4 10,748 3 9,205
Innocean Worldwide Inc. 9 56,757 8 48,610
Wisco Co., Ltd. 470 26,177 403 22,419
Samwoo Co., Ltd. 1 11,160 1 9,558
Kia Motors Corporation Hyundai Mobis 21,368 461,246 18,301 395,038
Asset Management Co., Ltd. 3 10,285 3 8,809
Glovis Co., Ltd. 725 61,805 621 52,933
Eukor Car Carriers Inc. - 116,666 - 99,919
Korean Won in millions U.S. Dollars (Note 2) in thousands
27. SELLING AND ADMINISTRATIVE EXPENSES:
Selling and administrative expenses in 2009 and 2008 are as follows:
28. COMMITMENTS AND CONTINGENCIES:
(1) The Company and its consolidated subsidiaries are contingently liable for guarantees of indebtedness of related parties including subsidiaries as of December 31, 2009
as follows:
Company providing
guarantee of indebtedness Beneficiary companies
Korean Won
in millions
U.S. Dollars (Note 2)
in thousands
Hyundai Motor Company Hyundai Capital Services, Inc. ￦ 659,401 $ 564,749
Hyundai Merchant Marine Co., Ltd. 199,895 171,202
Hyundai Rotem Company 298,772 255,886
Hyundai Motor America 251,034 215,000
Hyundai Motor Manufacturing Alabama, LLC 651,691 558,146
Hyundai Capital America 876,910 751,036
2009 2008 2009 2008
Salary-related costs ￦ 3,282,206 ￦ 2,899,468 $ 2,811,071 $ 2,483,272
Export costs 1,261,844 1,767,268 1,080,716 1,513,590
Sales promotion and advertisements 3,781,283 4,084,588 3,238,509 3,498,277
Sales commissions 932,110 686,285 798,313 587,774
Sales warranties 1,239,006 1,684,549 1,061,156 1,442,745
Taxes and dues 274,774 174,854 235,332 149,755
Communications 57,896 67,998 49,585 58,237
Utilities 90,821 66,840 77,784 57,246
Freight and warehousing 754,111 465,550 645,864 398,724
Rent 145,437 128,327 124,561 109,907
Travel 175,967 178,324 150,708 152,727
Service charges 732,154 611,581 627,059 523,793
Maintenance 98,479 68,184 84,343 58,397
Supplies 33,418 33,233 28,621 28,463
Research 663,384 696,355 568,160 596,399
Depreciation 516,004 556,193 441,936 476,356
Amortization 110,703 112,629 94,812 96,462
Provision for other liabilities 55,510 46,096 47,542 39,479
Bad debt 320,434 238,293 274,438 204,088
Other 262,206 268,144 224,569 229,652
￦ 14,787,747 ￦ 14,834,759 $ 12,665,079 $ 12,705,343
Korean Won in millions U.S. Dollars (Note 2) in thousands