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HYUNDAI MOTOR COMPANY Annual Report 2015
114 115
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014
4. OTHER RECEIVABLES:
Other receivables as of December 31, 2015 and 2014 consist of the following:
In millions of Korean Won
Description
December 31, 2015 December 31, 2014
Current Non-current Current Non-current
Accounts receivable - others ￦ 1,978,471 ￦ 818,401 ￦ 2,083,571 ￦ 719,888
Due from customers for contract work 1,837,280 -1,617,221 -
Lease and rental deposits 24,962 319,446 28,119 298,401
Deposits 3,157 26,566 2,820 23,998
Others 13,409 -93 119
Allowance for doubtful accounts (11,175) -(9,715) -
Present value discount accounts -(847) -(3,249)
￦ 3,846,104 ￦ 1,163,566 ￦ 3,722,109 ￦ 1,039,157
5. OTHER FINANCIAL ASSETS:
(1) Other financial assets as of December 31, 2015 and 2014 consist of the following:
In millions of Korean Won
Description
December 31, 2015 December 31, 2014
Current Non-current Current Non-current
Financial assets at fair value through profit or loss (“FVTPL”) ￦ 10,112,034 ￦ 23,194 ￦ 14,853,071 ￦ 4,652
Derivative assets that are effective hedging instruments 42,455 178,369 13,373 25,629
AFS financial assets 7,111 2,598,706 1,950 2,264,116
Loans 173,203 4,573 16,040 225,722
￦ 10,334,803 ￦ 2,804,842 ￦ 14,884,434 ￦ 2,520,119
3. TRADE NOTES AND ACCOUNTS RECEIVABLE:
(1) Trade notes and accounts receivable as of December 31, 2015 and 2014 consist of the following:
In millions of Korean Won
Description
December 31, 2015 December 31, 2014
Current Non-current Current Non-current
Trade notes and accounts receivable ￦ 4,527,881 ￦ 73,500 ￦ 3,808,798 ￦ 57,100
Allowance for doubtful accounts (59,530) -(58,706) -
Present value discount accounts -(5,909) -(5,566)
￦ 4,468,351 ￦ 67,591 ￦ 3,750,092 ￦ 51,534
(2) Aging analysis of trade notes and accounts receivable
As of December 31, 2015 and 2014, total trade notes and accounts receivable that are past due, but not impaired, amount to
￦ 415,702 million and ￦ 311,979 million, respectively; of which ￦ 370,450 million and ￦ 282,969 million, respectively, are past due
less than 90 days, but not impaired. As of December 31, 2015 and 2014, the impaired trade notes and accounts receivable amount
to ￦ 59,530 million and ￦ 58,706 million, respectively.
(3) Transferred trade notes and accounts receivable that are not derecognized
As of December 31, 2015 and 2014, total trade notes and accounts receivable (including inter-company receivables within the
Group) which the Group transferred to financial institutions but did not qualify for derecognition, amount to ￦ 1,320,446 million
and ￦ 1,100,610 million, respectively. Cash and cash equivalents received as consideration for the transfer are recognized as
short-term borrowings due to the fact that the risks and rewards were not transferred substantially.
(4) The changes in allowance for doubtful accounts for the years ended December 31, 2015 and 2014 are as follows:
In millions of Korean Won
Description 2015 2014
Beginning of the year ￦ 58,706 ￦ 45,934
Impairment loss 3,572 16,548
Write-off (2,492) (2,757)
Effect of foreign exchange differences (256) (1,019)
End of the year ￦ 59,530 ￦ 58,706