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REDEFINING
MOBILITY
KIA MOTORS
ANNUAL REPORT
2009

REDEFINING
MOBILITY
KIA MOTORS
ANNUAL REPORT
2009

NOTES TO NONCONSOLIDATED
FINANCIAL STATEMENTS
December 31, 2009 and 2008
12. OTHER NONCURRENT ASSETS
Other non-current assets as of December 31, 2009 and 2008 are summarized as follows:
14. OTHER CURRENT LIABILITIES
Other current liabilities as of December 31, 2009 and 2008 are as follows:
In millions of Won 2009 2008
Long-term nancial instruments ￦ 4,032 7,932
Long-term accounts receivable - trade, less discount on
present value of ￦2,071 in 2009 and ￦1,320 in 2008 11,647 7,189
Long-term accounts receivable - other, less allowance for
doubtful accounts of ￦936 in 2009 and ￦23,275 in 2008 10,726 17,670
Long-term loans 101,955 207,173
Guarantee deposits 188,766 178,353
Derivative instruments (note 23) - 15,642
￦ 317,126 433,959
In millions of Won 2009 2008
Advances from customers ￦ 63,357 31,163
Unearned income (*) 28,424 41,058
Accrued expenses 525,086 58,904
Accrued dividends 15 19
￦ 616,882 131,144
13. PLEDGED ASSETS AND GUARANTEES
The following assets are pledged as collateral for the Company’s long-term debt and others as of December 31, 2009:
Borrowing Collateralized
Assets Lender Type of borrowings amount amount
Land and buildings The Korea Development Bank ￦ 46,480 350,149
General loan 434,067
Hana Bank 70,000 91,000
Kookmin Bank 4,299 6,017
Hana Bank and others 300,000 390,000
Kookmin Bank and others Plant construction loan 700,000 910,000
Long-term securities Guarantee deposit for
performance of contact - 508
￦ 1,120,779 2,181,741
(*) The company entered into a technical support contract with Kia Motors Slovakia s.r.o. for which it received lump sum payment of ￦ 67,377
million in December 2006. Revenue will be recognized over the seven year contract period ending 2012
15. SHORTTERM BORROWINGS
Short-term borrowings as of December 31, 2009 and 2008 amounted to ￦ 79,453 million and ￦ 1,287,041 million, respectively, and consist of
bank loans and commercial paper with annual interest rate ranging from 1.81% to 5.43%.