Kia 2010 Annual Report Download - page 48

The exercise prices are adjusted by the following conditions, when the additional stocks are issued due to new stock issuing for paid-in
capital, stock dividends, and capitalization of reserves at lower price than market price before the exercise of stock warrants, when the
adjustment of exercise price is necessary due to merger, reduction of capital, split of stock and consolidation of stock, and when the market
price of the stock is decreased.
The number of shares issued upon the exercise of stock warrants for the year ended December 31, 2010 is 9,483,375 shares. The
accumulated number of shares exercised and the remaining shares to be exercised are 50,623,968 shares and 7,510,498 shares,
respectively, as of December 31, 2010.
(c) Aggregate maturities of the Company’s long-term debt as of December 31, 2010 are summarized as follows:
(*) The amount represents principal portion only and does not reflect discount on present value.
Notes to Consolidated
Financial Statements
December 31, 2010 and 2009
In millions of won Local Foreign
currency currency
December 31 borrowings(*) borrowings(*) Debentures(*) Total
2011 ￦ 367,420 214,799 780,000 1,362,219
2012 13,247 374,715 1,071,293 1,459,255
2013 140,742 114,741 100,000 355,483
2014 806 165,851 110,000 276,657
2015 and thereafter 3,945 881,647 100,000 985,592
￦ 526,160 1,751,753 2,161,293 4,439,206
In millions of won 2010 2009
Capital lease liabilities ￦ 1,538 2,229
Leasehold deposits received 320,955 316,842
Derivative instruments - 7,030
Advance deposit for sale of land 92,297 92,547
Long-term non-trade payables 2,050 -
￦ 416,840 418,648
In millions of won 2010 2009
ESTIMATED RETIREMENT AND SEVERANCE BENEFITS AT BEGINNING OF YEAR ￦ 1,081,114 1,145,863
Accrual for retirement and severance benefits 308,130 264,748
Transfer-in from associate companies (2,833) 639
Payments (216,713) (330,136)
Other changes(*) 22 -
ESTIMATED RETIREMENT AND SEVERANCE BENEFITS AT END OF YEAR 1,169,720 1,081,114
Transfer to National Pension Fund (6,063) (7,553)
Deposit for severance benefit insurance (974,728) (744,689)
NET BALANCE AT END OF YEAR ￦ 188,929 328,872
18. Other Non-Current Liabilities
Other non-current liabilities as of December 31, 2010 and 2009 are summarized as follows:
19. Retirement and Severance Benefits
Changes in retirement and severance benefits for the years ended December 31, 2010 and 2009 are summarized as follows:
20. Assets and Liabilities Denominated in Foreign Currency
Assets and liabilities denominated in foreign currency as of December 31, 2010 and 2009 are summarized as follows:
(*) Foreign currency translation adjustment
The Company maintains an employees’ severance benefit insurance arrangement with Samsung Life Insurance Co., Ltd. and others. Under
this arrangement, the Company has made a deposit in the amount equal to 83.3% and 68.9% of the reserve balances of retirement and
severance benefits as of December 31, 2010 and 2009, respectively. This deposit is to be used to guarantee the required payments to prior
employees and accounted for as a reduction of the reserve balance.
2010 2009
Foreign Won Foreign Won
In millions of won and in thousands of foreign currency currency equivalent currency equivalent
ASSETS
Cash and cash equivalents USD 275,304 ￦ 313,544 281,695 ￦ 328,907
EUR 111,160 168,252 108,533 181,715
Others - 338,501 - 726,092
Accounts and notes receivable - trade USD 426,651 485,913 395,558 461,854
EUR 830,543 1,257,109 554,942 929,128
Others - 1,330,521 - 723,472
Accounts receivable - other USD 61,793 70,376 29,819 34,817
EUR 126,094 190,856 12,335 20,652
Others - 82,922 - 139,838
Short-term loans EUR 109 165
Other - - - 97
96 COMPONENTS OF SUSTAINABLE GROWTH 97
KIA MOTORS ANNUAL REPORT 2010