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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
17. OTHER NONCURRENT LIABILITIES
Other non-current liabilities as of December 31, 2009 and 2008 are as follows:
19. ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCY
Assets and liabilities denominated in foreign currency as of December 31, 2009 and 2008 are summarized as follows:
The Company recognized ￦ 35,275 million of foreign currency translation gain and ￦ 33,067 million of foreign currency translation loss as
non-operating income and expense in relation to the above foreign currency translation.
18. LEASES
(a) The Company entered into capital lease contract for certain used machinery and equipment in 2007. As of December 31, 2009,
the gross amount of machinery and equipment and related accumulated depreciation recorded under capital leases are as
follows:
Depreciation expense related to the above lease agreement for the year ended December 31, 2009 amounts to ￦ 22,350 million.
(b) Future minimum lease payments under the non-cancelable capital leases as of December 31, 2009 are summarized as follows:
In millions of Won 2009 2008
Advance deposit for sale of land ￦ 92,297 92,297
Derivative instruments (note 23) 7,030 15,797
Leasehold deposits received 14,971 14,104
￦ 114,298 122,198
Due within a year ￦ 83,358
Due after one year through to ve years -
TOTAL MINIMUM LEASE PAYMENTS 83,358
Less unearned interest (3,143)
Less current portion (80,215)
PRESENT VALUE OF NONCURRENT PORTION OF NET MINIMUM CAPITAL LEASE PAYMENTS ￦ -
In millions of Won 2009
Machinery and equipment ￦ 250,000
Less accumulated depreciation (53,640)
￦ 196,360
In millions of Won Capital leases
2009 2008
Foreign Won Foreign Won
currency equivalent currency equivalent
(thousands)
(millions)
(thousands)
(millions)
ASSETS
Cash and cash equivalents USD 64,624 ￦ 75,455 89,100 ￦ 112,043
EUR 22,686 37,982 56,188 99,802
Accounts and notes receivable USD 389,705 455,020 311,554 391,779
- trade EUR 180,485 302,183 198,887 353,267
AED 86,131 27,379 61,404 21,022
Others 38,070 24,715
Accounts receivable - other USD 65,036 75,936 39,480 49,646
EUR 33,825 56,633 5,221 9,273
AUD 4,801 5,018 11,894 10,347
GBP 2,664 5,002 1 3
Others 945 -
Guarantee deposits USD 200 233 112 140
Long-term Loans USD 40,000 46,704 80,000 100,600
EUR 33,000 55,251 60,000 106,573
￦ 1,181,811 ￦ 1,279,210
LIABILITIES
Accounts and notes payable - trade USD 46,918 ￦ 54,781 12,352 ￦ 15,532
Others 25,522 13,135
Accounts and notes payable - other USD 56,840 66,367 156,802 197,179
EUR 17,033 28,517 19,500 34,636
JPY 130,971 1,654 352,598 4,915
Others 3,169 4,169
Accrued expenses JPY 23,615 298 23,699 330
Short-term borrowings USD 19,687 22,987 115,133 144,780
EUR 20,000 33,486 41,000 72,825
JPY 988,346 12,481 1,401,550 19,536
Long-term debt (including current portion) USD 134,200 156,692 203,000 255,273
EUR 665,000 1,113,396 705,000 1,252,235
￦ 1,519,350 ￦ 2,014,545