Kia 2001 Annual Report Download - page 34
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Please find page 34 of the 2001 Kia 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.Financial Statements & Notes
64 65
Effective December 1, 2000, the Company sold its Parts Sales Division, the main function of which had
been the selling and distribution of motor parts for after-sales services, to Hyundai MOBIS. The book
value of the Division's net assets as of December 1, 2000 was 264,805 million ($199,687 thousand).
The total disposal consideration of the Division consists of a fixed amount of 310,105 million ($233,847
thousand) as compensation for the Division's net assets and goodwill of 45,300 million ($34,160 thou-
sand), plus 10 percent of ordinary income from the Division's operations during a ten-year period starting
in 2001 which is payable every year during the said period. The payment for the goodwill of 45,300
million ($34,160 thousand) will be received equally over a five-year period after the grace period of 2
years with interest at 11 percent annually.
Significant transactions with affiliated companies and related balances as of December 31, 2001 are summa-
rized below:
Significant transactions with affiliated companies and related balances as of December 31, 2000 are summa-
rized below:
NOTES TO NON-CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2001 AND 2000
NOTES TO NON-CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2001 AND 2000
18. SALE OF DIVISION:
19. RELATED PARTY TRANSACTIONS:
Description Revenues Expenses Revenues Expenses
457,927 809,373 345,319 610.341
97,792 159,367 73,744 120,177
4 94,986 3 71,628
59,882 49 45,156 37
224,103 40,229 168,994 30,336
- 9,332 - 7,037
73,304 353,197 55,278 266,343
- 61,122 - 46,092
114 99,195 86 74,802
3,564,860 2,418 2,688,229 1,824
4,477,986 1,629,268 3,376,809 1,228,617
Hyundai Motor Company
Hyundai MOBIS
Hyundai Hysco Co., Ltd.
Hyundai Capital Services, Inc.
Hyundai Powertek Co., Ltd.
Korea D.T.S Co., Ltd.
WIA Corporation
TRW Steering Co., Ltd.
Bontec Co., Ltd.
Overseas subsidiaries and other
Korean won (In millions) U.S. dollars (Note 2) (in thousands)
Description Receivables Payables Receivables Payables
96,556 74,548 72,812 56,216
74,557 20,789 56,223 15,677
3 18,928 2 14,273
119,227 27,535 89,908 20,764
- 3,042 - 2,294
7,684 46,192 5,794 34,833
- 8,552 - 6,449
3,183 12,552 2,400 9,465
331,449 39 249,943 29
632,659 212,177 477,082 160,000
Hyundai Motor Company
Hyundai MOBIS
Hyundai Hysco Co., Ltd.
Hyundai Powertek Co., Ltd.
Korea D.T.S Co., Ltd.
WIA Corporation
TRW Steering Co., Ltd.
Bontec Co., Ltd
Overseas subsidiaries and other
Korean won (In millions) U.S. dollars (Note 2) (in thousands)
Description Revenues Expenses Revenues Expenses
93,808 777,933 70,740 586,632
251,483 234,777 189,641 177,043
- 137,845 - 103,948
5,354 20,245 4,037 15,267
3,028,396 290,275 2,283,686 218,894
3,379,041 1,461,075 2,548,104 1,101,784
Hyundai Motor Company
Hyundai MOBIS
Hyundai Hysco Co., Ltd.
Hyundai Capital Services, Inc.
Overseas subsidiaries and other
Korean won (In millions) U.S. dollars (Note 2) (in thousands)
Description Receivables Payables Receivables Payables
10,700 279,610 8,069 210,851
132,624 42,595 100,011 32,121
2,429 46,894 1,832 35,362
561,543 66 423,454 50
707,296 369,165 533,366 278,384
Hyundai Motor Company
Hyundai MOBIS
Hyundai Hysco Co., Ltd.
Overseas subsidiaries and other