Kia 2003 Annual Report Download - page 70

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NOTES TO NON-CONSOLIDATED FINANCIAL STATEMENTS
▶DECEMBER 31, 2003 AND 2002
70 Kia Motors Corporation
The changes in property, plant and equipment in 2002 are as follows :
As of December 31, 2003, the Company's property, plant and equipment are pledged as collateral for various long-term debt to a maximum of
￦1,114,423 million (US$930,392 thousand), and certain buildings and machinery of ￦78,231 million (US$65,312 thousand) are mortgaged for
various loans (see Notes 11 and 12).
The published value of the Company-owned land totals ￦1,257,885 million (US$1,050,163 thousand), and ￦1,110,428 million (US$927,056
thousand) as of December 31, 2003 and 2002, respectively, in terms of land prices officially announced by the Korean government.
8. INSURANCE :
As of December 31, 2003, inventories and property, plant and equipment are insured for ￦3,236,826 million (US$2,702,309 thousand). In
addition, the Company carries general insurance for vehicles and workers' compensation and casualty insurance for employees. Also, the
Company has insurance to cover potential product liability arising from its product liability claims in North America with maximum coverage of
US$75,000 thousand and in the domestic with maximum coverage of ￦2,000 million (US$1,670 thousand).
9. INTANGIBLES :
Intangibles as of December 31, 2003 consist of the following :
Beginning of
period
Korean won (in millions) U.S. dollars (Note 2)
(in thousands)
1,433,236
1,044,816
1,325,493
20,702
305,978
74,567
98,645
4,303,437
￦
￦
End of
period
-
-
-
-
-
-
383,728
383,728
￦
￦
Transfer
1,425
26,738
136,590
14,359
124,371
37,341
(340,824)
-
￦
￦
Disposal
(35,378)
(5,333)
(43,221)
(3,354)
(11,153)
(874)
(2)
(99,315)
￦
￦
Depreciation
-
(44,737)
(192,656)
(8,203)
(148,049)
(27,351)
-
(420,996)
￦
￦
Other
changes
-
-
-
-
-
-
-
-
￦
￦
End of period
￦
￦
End of period
1,168,211
852,800
1,023,715
19,623
226,371
69,865
118,172
3,478,757
＄
＄
Land
Buildings and
structures
Machinery and
equipment
Vehicles
Dies, molds and
tools
Other
equipment
Construction
in progress
End of the
period
Acquisition cost Accumulated amortization Book value
Korean won (in millions)
U.S. dollars (Note 2)
(in thousands)
Industrial property rights
Right of utilization
Development costs
9,303
18,662
556,562
584,527
4,404
7,556
118,753
130,713
4,899
11,106
437,809
453,814
￦
￦
￦
￦
￦
￦
Book value
4,090
9,272
365,511
378,873
＄
＄
1,399,283
1,021,484
1,226,206
23,504
271,147
83,683
141,547
4,166,854