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HYUNDAI MOTOR COMPANY Annual Report 2014
FINANCIAL STATEMENTS / 129128
14. OPERATING LEASE ASSETS:
(1) Operating lease assets as of December 31, 2014 and 2013, consist of the following:
In millions of Korean Won
Description December 31, 2014 December 31, 2013
Acquisition cost ￦ 15,136,720 ￦ 12,030,614
Accumulated depreciation (1,804,291) (1,388,421)
Accumulated impairment loss (66,813) (77,317)
￦ 13,265,616 ￦ 10,564,876
(2) Future minimum lease receipts related to operating lease assets as of December 31, 2014 and 2013, are as follows:
In millions of Korean Won
Description December 31, 2014 December 31, 2013
Not later than one year ￦ 2,474,411 ￦ 2,018,610
Later than one year and not later than five years 2,674,220 2,270,798
Later than five years - 1
￦ 5,148,631 ￦ 4,289,409
15. BORROWINGS AND DEBENTURES:
(1) Short-term borrowings as of December 31, 2014 and 2013, consist of the following:
In millions of Korean Won
Description Lender
Annual interest rate (%)
December 31, 2014 December 31, 2014 December 31, 2013
Overdrafts Citi Bank and others 0.40~3.63 ￦ 189,121 ￦ 211,603
General loans Kookmin Bank and others 0.34~9.54 3,274,955 2,468,175
Loans on trade
receivables collateral
Korea Exchange Bank
and others
LIBOR+0.23~0.40 1,100,610 997,519
Banker’s Usance Kookmin Bank and others LIBOR+0.31~0.40 433,510 439,579
Short-term debentures 2.27 19,997 -
Commercial paper Shinhan Bank and others 0.27~2.64 1,827,727 747,375
Asset-backed securities HSBC - 428,547
￦ 6,845,920 ￦ 5,292,798
(2) Long-term debt as of December 31, 2014 and 2013, consists of the following:
In millions of Korean Won
Description Lender
Annual interest rate (%)
December 31, 2014 December 31, 2014 December 31, 2013
General loans Shinhan Bank and others 0.37~9.54 ￦ 3,283,340 ￦ 3,127,981
Facility loan Korea Development
Bank and others
1.00~5.85 383,072 524,530
Commercial paper Hana Daetoo Security 3.13~3.17 73,000 233,000
Asset-backed securities JP Morgan and others 0.46~0.71 5,607,169 3,535,460
Others Woori Bank and others 0.10~2.00 239,260 238,899
9,585,841 7,659,870
Less: present value discounts 125,375 134,025
Less: current maturities 2,030,037 2,859,815
￦ 7,430,429 ￦ 4,666,030
(3) Debentures as of December 31, 2014 and 2013, consist of the following:
In millions of Korean Won
Description
Latest
maturity date
Annual interest rate (%)
December 31, 2014 December 31, 2014 December 31, 2013
Guaranteed public debentures June 8, 2017 3.75~4.50 ￦ 1,648,312 ￦ 1,583,399
Guaranteed private debentures April 25, 2015 5.68 82,440 79,148
Non-guaranteed public debentures April 29, 2021 2.08~7.20 21,247,129 20,298,628
Non-guaranteed private debentures February 6, 2019 1.45~3.63 4,079,019 2,383,997
Asset-backed securities December 15, 2020 0.18~6.52 10,976,262 10,891,176
38,033,162 35,236,348
Less: discount on debentures 81,616 88,129
Less: current maturities 7,649,461 5,825,439
￦ 30,302,085 ￦ 29,322,780
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013