Kia 2007 Annual Report Download - page 81

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081_
Kia Motors Annual Report 2007
Company
18,593
(89,741)
(88,843)
(401,139)
(20,659)
(3,443)
(3,681)
(437)
(589,350)
￦
￦
Cumulative
Income (losses)
Unrealized
gains
(148,594)
(9,527)
(26,962)
(68,480)
(13,429)
-
-
-
(266,992)
Kia Motors America, Inc.
Kia Canada, Inc.
Kia Motors Deutschland GmbH
Kia Motors Europe GmbH
Kia Motors Australia Pty Ltd.
Haevichi Resort Co., Ltd.
Chasan Co., Ltd.
Kia Tigers Co., Ltd.
In millions of Won
(*1) The cumulative income (losses) and unrealized gains not recognized by the Company due to the suspension of the valuation of equity securities using the equity method as of December 31, 2007 consist of the
following :
(*2) Investments in affiliates with total assets amounting to less than ￦7billion are recorded at cost, except where the effect of applying the equity method of accounting for investments on the non-consolidated
financial statements is material.
(*3) The Company made an adjustment to conform the affiliate’s accounting policies related to capitalized interest cost to those of the Company for like transactions and events in similar circumstances. Relating to this
adjustment, equity in income of affiliates has been reduced by ￦12,789 million for the year ended December 31, 2007.
(*4) The Company made additional investment in Kia Motors Deutschland GmbH and Kia Motors Europe GmbH during the year. However, as noted above, the equity method was discontinued as the Company’s share
of losses exceeded the carrying amount of the investment. In accordance with the equity method of accounting, the Company’s additional investment is recognized as a decrease of retained earnings, as the cumulative
losses are greater than the Company’s additional investment.
(*5) The Company reclassified equity interest in The Korea Economic Daily Co., Ltd. from available-for-sale securities to equity method securities as the Company and its holding company, Hyundai Motor Company,
together own more than 20%.
(*6) Other increase (decrease) consist of dividends from affiliated companies except for Kia Motors Deutschland GmbH, Kia Motors Europe GmbH (as noted in *4 above) and The Korea Economic Daily Co., Ltd. (as noted
in *5 above).