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HYUNDAI MOTOR COMPANY Annual Report 2014
FINANCIAL STATEMENTS / 127126
(7) The market price of listed equity securities as of December 31, 2014, is as follows:
In millions of Korean Won, except price per share
Name of the company Price per share Total number of shares Market value
Kia Motors Corporation ￦ 52,300 ￦ 137,318,251 ￦ 7,181,745
Hyundai Engineering & Construction Co., Ltd. 42,100 23,327,400 982,084
Hyundai WIA Corporation 176,000 6,893,596 1,213,273
Hyundai HYSCO Co., Ltd. 72,700 6,698,537 486,984
HMC Investment Securities Co., Ltd. 10,150 8,065,595 81,866
13. FINANCIAL SERVICES RECEIVABLES:
(1) Financial services receivables as of December 31, 2014 and 2013, consist of the following:
In millions of Korean Won
Description December 31, 2014 December 31, 2013
Loans ￦ 31,464,943 ￦ 29,078,336
Card receivables 10,601,341 9,806,136
Financial lease receivables 2,730,188 3,038,540
Others 16,755 11,348
44,813,227 41,934,360
Allowance for doubtful accounts (845,566) (823,408)
Loan origination fee 35,682 (89,881)
Present value discount accounts (8,755) (7,464)
￦ 43,994,588 ￦ 41,013,607
(2) Aging analysis of financial services receivables
As of December 31, 2014 and 2013, total financial services receivables that are past due but not impaired are ￦1,751,712 million and
￦1,288,443 million, respectively; all of them are past due less than 90 days. As of December 31, 2014 and 2013, the impaired financial
services receivables amount to ￦513,128 million and ￦530,638 million, respectively.
(3) Transferred financial services receivables that are not derecognized
As of December 31, 2014 and 2013, the Group issued asset backed securities, which have recourse to the underlying assets, based
on loans, card receivables and others. As of December 31, 2014, the carrying amounts and fair values of the transferred financial
assets that are not derecognized are ￦15,046,062 million and ￦15,220,978 million, respectively, the carrying amounts and fair values
of the associated liabilities are ￦10,962,648 million and ￦10,927,013 million, respectively, and the net position is ￦4,293,965 million.
As of December 31, 2013, the carrying amounts and fair values of the transferred financial assets that were not derecognized were
￦14,802,187 million and ￦14,709,639 million, respectively, the carrying amounts and fair values of the associated liabilities were
￦10,934,023 million and ￦11,101,945 million, respectively, and the net position was ￦3,607,694 million.
(4) The changes in allowance for doubtful accounts of financial services receivables for the years ended December 31, 2014 and
2013, are as follows:
In millions of Korean Won
Description December 31, 2014 December 31, 2013
Beginning of the year ￦ 823,408 ￦ 749,166
Impairment loss 629,261 669,339
Write-off (527,556) (474,001)
Effect of foreign exchange differences 6,706 (2,761)
Disposals and others (86,253) (118,335)
End of the year ￦ 845,566 ￦ 823,408
(5) Gross investments in financial leases and their present value of minimum lease receipts as of December 31, 2014 and 2013,
are as follows:
In millions of Korean Won
December 31, 2014 December 31, 2013
Description
Gross
investments
in financial leases
Present value
of minimum
lease receipts
Gross
investments
in financial leases
Present value
of minimum
lease receipts
Not later than one year ￦ 1,284,279 ￦ 1,117,016 ￦ 1,453,668 ￦ 1,257,942
Later than one year and not later than five years 1,743,890 1,609,391 1,944,394 1,776,643
Later than five years 229 227 172 171
￦ 3,028,398 ￦ 2,726,634 ￦ 3,398,234 ￦ 3,034,756
(6) Unearned interest income of financial leases as of December 31, 2014 and 2013, is as follows:
In millions of Korean Won
Description December 31, 2014 December 31, 2013
Gross investments in financial lease ￦ 3,028,398 ￦ 3,398,234
Net lease investments:
Present value of minimum lease receipts 2,726,634 3,034,756
Present value of unguaranteed residual value 3,554 3,784
2,730,188 3,038,540
Unearned interest income ￦ 298,210 ￦ 359,694
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013