Kia 2005 Annual Report Download - page 108

Download and view the complete annual report

Please find page 108 of the 2005 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.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

108
KIA MOTORS
Notes to Non-Consolidated Financial Statements FOR THE YEARS ENDED DECEMBER 31,
2005 AND 2004
16. RETAINED EARNINGS :
Retained earnings as of December 31, 2005 and Decem ber 31, 2004 consist of the follow ing :
17. CAPITAL ADJUSTMENTS :
Capital adjustm ents as of Decem ber 31, 2005 and 2004 consist of the follow ing :
(1) Treasury stock
The changes in treasury stock for the years ended Decem ber 31, 2005 and 2004 consist of the follow ing :
The Com pany has recorded treasury stock at book value in capital adjustm ents (See Note 2).
Korean w on
(In millions)
Translation into U.S.dollars (Note 2)
(In thousands)
December 31, 2005 December 31, 2004
Description
December 31, 2005 December 31, 2004
Appropriated
Legal reserve (*)
Reserve for technology developm ent
Retained earnings before appropriations
34,100
1,262,900
1,297,000
583,153
1,880,153
￦
￦
33,662
1,246,693
1,280,355
575,669
1,856,025
$
$
21,900
693,000
714,900
605,523
1,320,423
21,619
684,107
705,726
597,752
1,303,478
￦
￦
$
$
(* ) The Commercial Code of the Republic of Korea requires the Company to appropriate as a legal reserve, an amount equal to a minimum of 10% of cash dividends paid until such reserve equals
50% of its issued capital stock. The reserve is not available for the payment of cash dividends, but may be transferred to capital stock through an appropriate resolution by the Company’s Board
of Directors or used to reduce accumulated deficit, if any, through an appropriate resolution by the Company’s shareholders.
Korean w on
(In millions)
Translation into U.S.dollars (Note 2)
(In thousands)
2005 2004 2005 2004
Treasury stock
Stock option cost
Gain on valuation of long-term investm ent securities (See Note 4)
Loss on valuation of equity securities
accounted for using the equity method, net (See Note 5)
(4,272)
1,568
10,718
(187,462)
(179,448)
￦
￦
(4,217)
1,548
10,580
(185,056)
(177,145)
$
$
(6,104)
3,071
101,583
(5,157)
93,393
(6,026)
3,032
100,279
(5,091)
92,194
￦
￦
$
$
2005 20042005 2004 2005 2004
Beginning of year
Acquisition
Retirem ent
Disposition
End of year
6,104
—
—
(1,832)
4,272
1,019,869
—
—
(306,133)
713,736
￦
￦
6,025
—
—
(1,808)
4,217
$
$
7,839
136,700
(136,700)
(1,735)
6,104
1,309,723
12,500,000
(12,500,000)
(289,854)
1,019,869
7,739
134,946
(134,946)
(1,713)
6,026
￦
￦
$
$
Korean w on
(In millions)
Number of shares
Translation into U.S.dollars (Note 2)
(In thousands)