Kia 2002 Annual Report Download - page 31

2002 KIA MO TO RS AN N UAL REPORT
5859
Financial Statements & Notes
Unlisted equity securities as of December 31, 2001 consist of the follow ing:
Total net equity value of unlisted investment equity securities as of December 31, 2002 and 2001 amount to 44,473 million ($37,048 thousand) and
16,020 million ($13,346 thousand), respectively, based on the investees’ latest financial statements.
(6) Debt securities as of December 31, 2002 consist of the follow ing:
Debt securities as of December 31, 2001 consist of the follow ing:
As the interest rates and repayment periods of corporate bonds w ere changed by mutual agreement in 1999, the difference between nominal value and
present value w as presented as bad debt expense, and amortized using the effective interest method over the remaining period.
NOTES TO NON-CONSOLIDATED FINANCIAL STATEM ENTS DECEM BER 31, 2002 AND 2001
(7) The Company has pledged part of its investment equity securities as collateral for various short-term and long-term borrow ings as of December
31, 2002 as follow s:
5. INSURANCE
As of December 31, 2002 inventories and property, plant and equipment are insured for 2,864,543 million ($2,386,324 thousand). In addition, the
Company carries general insurance for vehicles and w orkers' compensation and casualty insurance for employees. Also, the Company has insurance to
cover potential product liability arising from its product liability claims w ith maximum coverage of $50,000 thousand in North America and w ith maxi-
mum coverage of 2,000 million ($1,666 thousand) for the domestic market.
6. PROPERTY, PLANT AND EQUIPM ENT
Property, plant and equipment as of December 31, 2002 and 2001 consist of the follow ing:
As of December 31, 2002, the Company's property, plant and equipment are pledged as collateral for various long-term debt to a maximum of
1,115,595 million ($929,353 thousand), and certain machinery of 78,230 million ($65,170 thousand) are mortgaged for various loans (see Notes 9
and 10).
The published value of the Company-ow ned land totals 1,110,428 million ($925,048 thousand) and 1,137,165 million ($947,322 thousand),
respectively, as of December 31, 2002 and 2001, in terms of land prices officially announced by the Korean government.
7. INTANGIBLES
Intangibles as of December 31, 2002 and 2001 consist of the follow ing:
NOTES TO NON-CONSOLIDATED FINANCIAL STATEM ENTS DECEM BER 31, 2002 AND 2001
Company Acquisition cost Book value Book value
Korean won U.S. dollars(Note 2)
(in millions) (in thousands)
Korea Telecom I Com Co., Ltd. 7,200 7,200 5,998 0.40
Dongw on Capital Co., Ltd. 3,000 3,000 2,499 4.62
Daeshin Factoring Co., Ltd. 2,000 2,000 1,666 3.33
Shinsegi Telecom. Co., Ltd. 837 837 697 0.41
Kihyup Technology Banking Corp. 700 700 583 2.41
M obil com. Co., Ltd. 600 600 500 6.02
A.P. Co., Ltd. 550 550 458 9.20
Donghui Auto Co., Ltd. 500 500 417 19.20
Dongyung Industries Co., Ltd. 240 240 200 19.29
Namyang Industrial Co., Ltd. 200 200 167 8.00
The Korea Economic Daily Co., Ltd. 168 168 140 0.22
Other 610 610 508 -
16,605 16,605 13,833
Acquisition cost Book value Book value
Korean won U.S. dollars(Note 2)
(in millions) (in thousands)
Corporate bonds:
Kia Steel Co., Ltd. 32,698 16,959 15,739 13,111
Seoul Guarantee Insurance Company 16,200 6,382 9,818 8,179
Asset M anagement Co., Ltd. 89 - 89 75
48,987 23,341 25,646 21,365
Percentage of
ow nership (% )
Present value
discount
Acquisition cost Book value Book value
Korean won U.S. dollars(Note 2)
(in millions) (in thousands)
Corporate bonds:
Kia Steel Co., Ltd. 32,698 18,253 14,445 12,033
Seoul Guarantee Insurance Company 16,200 7,292 8,908 7,422
48,898 25,545 23,353 19,455
Present value
discount
Company No. of shares pledged
Kia Steel Co., Ltd. 175,100
Kisan M utual Saving’s & Finance 306,160
Other 1,500
2002 2001 2002 2001
Korean won U.S. dollars(Note 2)
(in millions) (in thousands)
Buildings and structures 1,222,836 1,203,497 1,018,690 1,002,580
M achinery and equipment 1,987,189 1,915,268 1,655,439 1,595,525
Vehicles 44,632 42,411 37,181 35,331
Tools, dies and molds 1,077,454 997,678 897,579 831,121
Office equipment 176,730 147,335 147,226 122,738
4,508,841 4,306,189 3,756,115 3,587,295
Less: Accumulated depreciation (1,882,817) (1,534,632) (1,568,491) (1,278,434)
2,626,024 2,771,557 2,187,624 2,308,861
Land 1,399,283 1,433,237 1,165,681 1,193,966
Construction in progress 141,547 98,643 117,916 82,175
4,166,854 4,303,437 3,471,221 3,585,002