Hyundai 2014 Annual Report Download - page 46

Download and view the complete annual report

Please find page 46 of the 2014 Hyundai annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 86

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86

HYUNDAI MOTOR COMPANY Annual Report 2014
FINANCIAL STATEMENTS / 9190
(3) The financial statements of all subsidiaries, which are used in the preparation of the consolidated financial statements,
are prepared for the same reporting periods as the Company’s.
(4) Summarized cash flows of non-wholly owned subsidiaries that have material non-controlling interests to the Group as of
December 31, 2014, are as follows:
In millions of Korean Won
Description Hyundai Capital Services, Inc. Hyundai Card Co., Ltd. Hyundai Rotem Company
Cash flows from operating activities ￦ (976,758) ￦ (1,351,845) ￦ (188,798)
Cash flows from investing activities (64,890) (141,427) (57,753)
Cash flows from financing activities 147,298 695,513 245,511
Effect of exchange rate changes
on cash and cash equivalents
(44) -119
Net decrease in cash and cash equivalents ￦ (894,393) ￦ (797,758) ￦ (921)
Summarized cash flows of non-wholly owned subsidiaries that had material non-controlling interests to the Group as of Decem-
ber 31, 2013, were as follows:
In millions of Korean Won
Description Hyundai Capital Services, Inc. Hyundai Card Co., Ltd. Hyundai Rotem Company
Cash flows from operating activities ￦ (140,669) ￦ 103,169 ￦ (408,594)
Cash flows from investing activities 69,086 (105,453) (24,474)
Cash flows from financing activities 272,041 176,192 440,503
Effect of exchange rate changes
on cash and cash equivalents
(20) - (4,183)
Net increase in cash and cash equivalents ￦ 200,438 ￦ 173,908 ￦ 3,252
(5) Details of non-wholly owned subsidiaries of the Company that have material non-controlling interests as of December 31,
2014, are as follows:
In millions of Korean Won
Description Hyundai Capital Services, Inc. Hyundai Card Co., Ltd. Hyundai Rotem Company
Ownership percentage of non-controlling interests 43.53% 63.04% 56.64%
Non-controlling interests ￦ 1,496,716 ￦ 1,611,007 ￦ 1,056,862
Profit attributable to non-controlling interests 104,053 140,912 (11,870)
Dividends paid to non-controlling interests - - 6,984
Details of non-wholly owned subsidiaries of the Company that had material non-controlling interests as of December 31,
2013, were as follows:
In millions of Korean Won
Description Hyundai Capital Services, Inc. Hyundai Card Co., Ltd. Hyundai Rotem Company
Ownership percentage of non-controlling interests 43.53% 63.04% 56.64%
Non-controlling interests ￦ 1,415,812 ￦ 1,491,715 ￦ 1,088,548
Profit attributable to non-controlling interests 170,307 105,461 62,686
Dividends paid to non-controlling interests 78,365 - 155
(6) Financial support provided to consolidated structured entities
As of December 31, 2014, Hyundai Card Co., Ltd. and Hyundai Capital Services, Inc., subsidiaries of the Company, have agreements
which provide counterparties with rights to claim themselves in the event of default on the derivatives relating to asset-backed secu-
rities issued by consolidated structured entities, Autopia Forty-Fifth, Forty-Sixth, Forty-Ninth and Fifty-Second Asset Securitization
Specialty Company, Privia the third and the Fourth Securitization Specialty Co., Ltd.
(7) The nature and the risks associated with interests in unconsolidated structured entities
1) Nature of interests in an unconsolidated structured entity, which belongs to the Group as of December 31, 2014, is as follows:
In millions of Korean Won
Description Purpose Nature of business Method of funding Total assets
Asset securitization SPC Fund raising
through asset-securitization Fund collection Corporaten Bond
and others ￦ 305,457
Investment fund Investment in
beneficiary certificate
Fund management and
operation
Sales of beneficiary
certificates 13,207,887
Investment trust
Development trust,
Unspecified monetary trust,
Principal unsecured trust,
Operation of trust investment
Trust management
and operation,
Payment of trust fee,
Distribution of trust benefit
Sales of trust
investment product 34,442
Nature of interests in an unconsolidated structured entity, which belongs to the Group as of December 31, 2013, was as follows:
In millions of Korean Won
Description Purpose Nature of business Method of funding Total assets
Asset securitization SPC Fund raising through
asset-securitization Fund collection Corporate Bond
and others ￦ 396,497
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013