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2002 KIA MO TO RS AN N UAL REPORT
4243
Financial Statements & Notes
Current assets:
Cash and cash equivalents 763,739 250,849 636,237 208,971
Short-term financial instruments 760,131 399,990 633,231 333,214
M arketable securities (Note 4) 19,565 30,620 16,299 25,508
Trade notes and accounts receivable, net of
unamortized present value discount of 2,540 million
in 2002 and 2,921 million in 2001, and allow ance
for doubtful accounts of 217,738 million in 2002 and
238,079 million in 2001 589,040 877,845 490,703 731,294
Inventories (Notes 3 and 5) 485,018 420,417 404,047 350,231
Other receivables, net of unamortized present value
discount of 9,638 million in 2002
and 14,539 million in 2001, and allow ance for
doubtful accounts of 102,971 million in 2002
and 105,816 million in 2001 147,123 254,064 122,562 211,649
Advances and other current assets, net of allow ance
for doubtful accounts of 32,524 million in 2002
and 87,061 million in 2001 156,717 186,092 130,554 155,025
Total current assets 2,921,333 2,419,877 2,433,633 2,015,892
Non-current assets:
Investments, net of unamortized present value
discount of 23,341 million in 2002 and
25,545 million in 2001 (Note 4) 878,056 625,658 731,470 521,208
Property, plant and equipment, net of accumulated
depreciation of 1,882,817 million in 2002 and
1,534,632 million in 2001 (Notes 5 and 6) 4,166,854 4,303,437 3,471,221 3,585,002
Intangibles, net of amortization (Note 7) 299,724 176,883 249,687 147,354
Other assets (Note 8) 240,338 251,707 200,215 209,686
Deferred income tax assets (Note 17) 606,343 660,904 505,117 550,570
Total non-current assets 6,191,315 6,018,589 5,157,710 5,013,820
Total assets 9,112,648 8,438,466 7,591,343 7,029,712
(continued)
NON-CONSOLIDATED BALANCE SHEETS
ASSETS 2002 2001 2002 2001
Korean won Translation into U.S. dollars(Note 2)
(in millions) (in thousands)
Korean won Translation into U.S. dollars(Note 2)
(in millions) (in thousands)
AS OF DECEM BER 31, 2002 AND 2001
Current liabilities:
Short-term borrow ings (Note 9) 41,299 53,519 34,404 44,584
Current maturities of long-term debt and debentures, net of
discount on debentures issued of nil in 2002 and 5,264
million in 2001 (Note 10) 112,551 362,415 93,761 301,912
Trade notes and accounts payable 1,578,099 1,293,692 1,314,644 1,077,717
Accrued w arranties 253,865 231,208 211,484 192,609
Accounts payable-other 549,384 499,101 457,668 415,779
Accrued expenses and other current liabilities 144,345 100,964 120,247 84,109
Total current liabilities 2,679,543 2,540,899 2,232,208 2,116,710
Long-term liabilities:
Long-term debt and debentures, net of current
maturities and net of discount on debentures issued of
8,700 million in 2002 and 11,995 million
in 2001 (Note 10) 1,350,726 1,638,933 1,125,230 1,365,322
Accrued severance benefits, net of National
Pension paid for employees of 48,018 million
in 2002 and 51,078 million in 2001, and individual
severance insurance deposits of 668,441 million in
2002 and 562,044 million in 2001 (Note 2) 477,770 413,407 398,008 344,391
Long-term accrued w arranties 491,860 436,099 409,747 363,295
Other long-term liabilities 19,065 16,112 15,884 13,423
Total long-term liabilities 2,339,421 2,504,551 1,948,869 2,086,431
Total liabilities 5,018,964 5,045,450 4,181,077 4,203,141
Commitments and contingencies (Note 11)
Shareholders’ equity:
Capital stock (Note 12) 1,848,652 1,847,987 1,540,030 1,539,476
Capital surplus (Note 13) 1,699,924 1,699,924 1,416,131 1,416,131
Unappropriated retained earnings (accumulated deficit
before disposition) (Note 14)
(Net income of 641,379 million in 2002 and
552,235 million in 2001) 316,427 (324,952) 263,601 (270,703)
Capital adjustments (Note 15) 228,681 170,057 190,504 141,667
Total shareholders’ equity 4,093,684 3,393,016 3,410,266 2,826,571
Total liabilities and shareholders’ equity 9,112,648 8,438,466 7,591,343 7,029,712
See accompanying notes to non-consolidated financial statements.
NON-CONSOLIDATED BALANCE SHEETS (CONTINUED)
LIABILITIES AND SHAREHOLDERS’ EQUITY 2002 2001 2002 2001
AS OF DECEM BER 31, 2002 AND 2001