Kia 2007 Annual Report Download - page 102

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102_
Kia Motors Annual Report 2007
(f) Deferred tax assets have been recognized because it is probable that future profit will be available against which the Company can utilize the related benefit.
(g) Deductible temporary differences of which deferred tax assets have not been recognized as of December 31, 2007 and 2006 amounted to ￦800,390 million
and ￦594,508 million, respectively.
(h) The Company did not recognize a deferred tax liability in the amount of ￦22,407 million and ￦21,952 million arising from the taxable temporary differences
associated with equity method accounted investments as of December 31, 2007 and 2006, respectively, since it is able to control the timing of the reversal of the
temporary differences and it is probable that the temporary differences will not reverse in the foreseeable future.
The accumulated temporary differences as of December 31, 2007 and 2006 do not include temporary differences of ￦258,945 million and ￦261,897 million,
respectively, related to the gain on the revaluation of land, which may not be disposed of in the foreseeable future.
(i) The deferred tax assets and liabilities that were directly charged or credited to capital adjustments as of December 31, 2007 are as follows:
(i) In accordance with SKAS No. 16, the deferred tax amounts should be presented as a net current asset or liability and a net non-current asset or liability. In
addition, the Company is required to disclose aggregate deferred tax assets (liabilities). As of December 31, 2007, details of aggregate deferred tax assets (liabilities)
are as follows:
(35)
164,801
164,766
￦
￦
Temporary differences Deferred tax assets (liabilities)
(10)
45,320
45,310
Change in fair value of available-for-sale securities
Unrealized holding loss on equity method accounted investments, net
In millions of Won
217,924
254,812
7,745
313,512
650,710
369,979
519,590
175,962
5,737
2,515,971
(9,323)
(1,899)
(18,769)
(1,185,144)
(321)
(72,623)
(1,288,079)
1,227,892
￦
￦
Temporary differences at
December 31, 2007
53,543
-
-
-
68,968
63,077
-
-
824
186,412
-
-
(5,161)
-
-
-
(5,161)
181,251
6,386
70,073
2,130
1,708
109,977
325,036
142,888
48,373
754
707,325
(2,564)
(522)
-
(455,999)
(89)
(3,063)
(462,237)
245,088
Non-currentCurrent
Deferred tax assets (liabilities)
Assets
Allowance for doubtful accounts
Bad debts written off
Dividend income
Loss on impairment of investments
Provision for warranties
Carryforwards of unused tax credits
Net operating loss carryforward
Tax reserve applicable to equity
Others
Liabilities
Accumulated depreciation
Deferred foreign exchange translation gain, net
Accrued income
Equity in earnings of equity method accounted investees, net
Amortization on development costs
Tax reserve applicable to equity
Net deferred tax asset
In millions of Won
December 31, 2007 and 2006
Notes to Non-Consolidated Financial Statements