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HYUNDAI MOTOR COMPANY Annual Report 2014
FINANCIAL STATEMENTS / 115114
10. INVESTMENT PROPERTY:
(1) Investment property as of December 31, 2014 and 2013, consist of the following:
In millions of Korean Won
December 31, 2014 December 31, 2013
Description
Acquisition
cost
Accumulated
depreciation Book value Acquisition cost
Accumulated
depreciation Book value
Land ￦ 63,406 ￦ -￦ 63,406 ￦ 62,467 ￦ - ￦ 62,467
Buildings 398,626 (153,193) 245,433 320,904 (133,163) 187,741
Structures 18,630 (5,262) 13,368 18,630 (4,854) 13,776
￦ 480,662 ￦ (158,455) ￦ 322,207 ￦ 402,001 ￦ (138,017) ￦ 263,984
(2) The changes in investment property for the year ended December 31, 2014, are as follows:
In millions of Korean Won
Description Beginning of the year Transfers Disposals Depreciation
Effect of foreign
exchange differences
End of
the year
Land ￦ 62,467 ￦ 3,617 ￦ (2,836) ￦ - ￦ 158 ￦ 63,406
Buildings 187,741 67,373 -(10,722) 1,041 245,433
Structures 13,776 - - (408) -13,368
￦ 263,984 ￦ 70,990 ￦ (2,836) ￦ (11,130) ￦ 1,199 ￦ 322,207
The changes in investment property for the year ended December 31, 2013, were as follows:
In millions of Korean Won
Description Beginning of the year Transfers Disposals Depreciation
Effect of foreign
exchange differences
End of
the year
Land ￦ 62,874 ￦ 175 ￦ (582) ￦ - ￦ - ￦ 62,467
Buildings 206,023 (9,666) - (9,751) 1,135 187,741
Structures 13,935 248 - (407) - 13,776
￦ 282,832 ￦ (9,243) ￦ (582) ￦ (10,158) ￦ 1,135 ￦ 263,984
(3) The fair value of investment property as of December 31, 2014 and 2013, consist of the following:
In millions of Korean Won
Description December 31, 2014 December 31, 2013
Land ￦ 64,783 ￦ 62,467
Buildings 436,271 351,992
Structures 15,514 15,496
￦ 516,568 ￦ 429,955
On January 1, 2010, the K-IFRS transition date, the Group remeasured the fair value of its investment property through an indepen-
dent third party. As of December 31, 2014, no fair value remeasurement of investment property was performed, as the change in fair
value is considered not to be material.
The fair value of the investment property is classified as Level 3, based on the inputs used in the valuation techniques. The fair value
has been determined based on the cost approach and the market approach. The cost approach measured fair value as current re-
placement cost considering supplementary installation, depreciation period, structure and design.
(4) Income and expenses related to investment property for the years ended December 31, 2014 and 2013, are as follows:
In millions of Korean Won
Description 2014 2013
Rental income ￦ 42,499 ￦ 35,495
Operating and maintenance expenses 19,433 13,632
11. INTANGIBLE ASSETS:
(1) Intangible assets as of December 31, 2014 and 2013, consist of the following:
In millions of Korean Won
December 31, 2014 December 31, 2013
Description
Acquisition
cost
Accumulated
amortization(*)Book value
Acquisition
cost
Accumulated
amortization(*)Book value
Goodwill ￦ 288,882 ￦ (2,404) ￦ 286,478 ￦ 301,798 ￦ (2,446) ￦ 299,352
Development costs 6,070,412 (3,515,429) 2,554,983 5,426,534 (3,480,977) 1,945,557
Industrial property rights 169,976 (80,014) 89,962 123,244 (78,877) 44,367
Software 684,882 (369,901) 314,981 536,674 (263,253) 273,421
Others 488,116 (174,231) 313,885 440,613 (148,710) 291,903
Construction in progress 278,381 (17,014) 261,367 274,490 - 274,490
￦ 7,980,649 ￦ (4,158,993) ￦ 3,821,656 ￦ 7,103,353 ￦ (3,974,263) ￦ 3,129,090
(*) Accumulated impairment is included.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013