Kia 2003 Annual Report Download - page 77

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2003 Annual Report 77
(2) Stock option cost
Stock options granted as of December 31, 2003 are summarized below.
If all of the stock options, which require at least two-year continued service, are exercised treasury stock will be issued in accordance with the
decision of the Board of Directors. The Company calculates the total compensation expense using the option-pricing model. In the model, the
risk-free rate of 10.0 percent and 4.74 percent, the expected exercise period of 5.5 years and the expected variation rate of stock price of
0.8387 and 0.9504, are adopted for the 1st and 2nd stock options, respectively. Total compensation expense has been accounted for as a
charge to current operations and a credit to capital adjustments over the required period of service from the grant date using the straight-line
method. In 2003, the Company has accounted for stock option expense amounting to ￦1,064 millions (US$ 888 thousand) and 299,435 shares
of treasury stock issued for stock option exercised.
17. FOREIGN CURRENCY DENOM INATED ASSETS AND LIABILITIES :
The assets and liabilities denominated in foreign currencies as of December 31, 2003 and 2002 are summarized below.
Shares
1st 2nd
Granted
Cancelled
Exercised
Remaining
Grant date
Beginning date of
exercise
Exercise price
950,000
(15,000)
(299,435)
635,565
3,735
(59)
(1,177)
2,499
March 17, 2000
March 18, 2003
5,500
February 20, 2003
February 21, 2006
8,200
￦
￦
￦
3,118
(49)
(983)
2,086
＄
＄
Shares
695,000
(85,000)
-
610,000
2,974
(364)
-
2,610
￦
￦
￦
2,483
(304)
-
2,179
＄
＄
2003
Korean won (in millions)Foreign currencies (in thousands)
Assets
Liabilities
USD 336,251
EUR 77,299
CS 9,110
AUS 265
JPY 18,812,581
USD 666,019
EUR 16,588
AUS 2,119
DM 3,596
PD 329
SF 124
SK 100
CS 1
-
USD 310,639
EUR 70,264
AUS 265
DEM 96
JPY 11,764,694
USD 642,708
EUR 6,469
AUS 534
DM 4,463
PD 190
SF 101
SK 205
DK 1,131
FRF 488
402,762
116,149
8,437
238
527,586
210,626
797,757
24,924
1,900
2,763
700
119
17
1
-
1,038,807
￦
￦
￦
￦
372,896
88,347
180
62
461,485
119,161
771,507
8,134
362
2,869
365
88
28
192
94
902,800
￦
￦
￦
￦
2002 2003 2002
Korean won (in millions) U.S. dollars (Note 2)
(in thousands) Korean won (in millions) U.S. dollars (Note 2)
(in thousands)