Kia 2010 Annual Report Download - page 28

Consolidated
Statements of Changes in Equity
In millions of won
For the years ended December 31, 2010 and 2009
Minority
Accumulated interest in
other equity of
Capital Capital Capital comprehensive Retained consolidated
stock surplus adjustments income earnings subsidiaries Total
BALANCE AT JANUARY 1, 2010 ￦ 2,054,355 1,659,216 (2,249) 1,161,128 1,873,878 557,766 7,304,094
Net income - - - - 2,640,659 201,540 2,842,199
Dividends - - - - (96,999) - (96,999)
Exercise of stock warrants 47,417 10,362 - - - - 57,779
Acquisition of treasury stock - - (162,321) - - - (162,321)
Proceeds from treasury stock - 36,244 150,055 - - - 186,299
Change in fair value of available-for-sale
securities, net of tax - - - 27 - - 27
Change in capital adjustments-gain of
equity method accounted investments - - - 80,898 - - 80,898
Change in capital adjustments-loss of
equity method accounted investments - - - 5,462 - - 5,462
Revaluation surplus - - - (10,861) - - (10,861)
Valuation gains in derivatives - - - 1,758 - - 1,758
Valuation gains in non-derivatives - - - 52,465 - - 52,465
Foreign operation currency
translation differences, net - - - (37,114) - (18,488) (55,602)
BALANCE AT DECEMBER 31, 2010 ￦ 2,101,772 1,705,822 (14,515) 1,253,763 4,417,538 740,818 10,205,198
In millions of won
2010 2009
CASH FLOWS FROM OPERATING ACTIVITIES
Net income of controlling interest ￦ 2,842,199 1,020,632
Adjustments for:
Depreciation 826,893 662,921
Amortization 238,827 270,767
Accrual for retirement and severance benefits 308,130 264,748
Salaries 36,244 -
Provision for warranties 776,245 376,070
Allowance for doubtful accounts 5,911 5,849
Foreign currency translation loss (gain), net (43,739) (10,092)
Loss on scrapped inventories 6,991 9,016
Equity in earnings of equity method accounted investees, net (838,125) (723,542)
Dividend income from equity method accounted investees 69,334 49,361
Loss (gain) on disposition of investments, net 77 (58,290)
Impairment loss on investments 14 689
Loss on sale of property, plant and equipment, net 35,109 22,967
Loss on impairment of property, plant and equipment, net 8,681 28,760
Loss on impairment of intangible assets, net - 34,644
Interest income - reversal of present value discount (2,818) (883)
Interest expense - amortization of discount on debentures 8,712 14,320
Reversal of allowance for doubtful accounts (9,544) -
Loss (gain) on valuation of derivatives, net (6,651) 2,973
Loss on sale of accounts and notes receivable - trade 32,549 87,557
Other, net 50 17,147
Changes in assets and liabilities:
Accounts and notes receivable - trade (1,778,092) (518,906)
Accounts receivable - other (85,465) (142,001)
Inventories 902,381 2,231,945
Other current assets (140,308) 142,975
Accounts and notes payable - trade 1,239,469 284,100
Accounts and notes payable - other 320,818 196,717
Other current liabilities (135,622) 866,072
Income taxes payable 279,024 (25,036)
Deferred income tax assets 363,091 37,634
Payment of warranty costs (431,475) (457,279)
Payment of retirement and severance benefits ￦ (216,713) (330,136)
Consolidated
Statements of Cash Flows
For the years ended December 31, 2010 and 2009
See accompanying notes to consolidated financial statements.
See accompanying notes to consolidated financial statements.
56 COMPONENTS OF SUSTAINABLE GROWTH 57
KIA MOTORS ANNUAL REPORT 2010