Kia 2010 Annual Report Download - page 57

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Non-consolidated
Statements of Income
In millions of won, except earnings per share
As of December 31, 2010 and 2009
Note 2010 2009
Sales 9, 37 ￦ 23,261,428 18,415,739
Cost of sales 9, 11, 36 17,931,607 13,824,362
GROSS PROFIT 5,329,821 4,591,377
Selling, general and administrative expenses 11, 28, 36 3,649,626 3,446,904
OPERATING INCOME 1,680,195 1,144,473
Interest income 127,231 132,273
Interest expense (202,978) (343,960)
Foreign currency translation gain, net 20 10,949 2,208
Foreign currency transaction gain (loss), net 10,054 (71,300)
Loss on scrapped inventories (4,612) (5,300)
Dividend income 91 1,007
Equity in earnings of equity method accounted investees, net 8 1,105,819 813,703
Loss on sale of accounts and notes receivable - trade (32,549) (87,540)
Impairment loss on investments (14) (689)
Gain (loss) on disposition of investments, net (77) 58,306
Loss on repayment of bonds - (164)
Gain (loss) on valuation of derivatives, net 23 6,651 (2,973)
Loss on sale of property, plant and equipment, net (27,185) (22,065)
Other, net 102,158 81,598
OTHER INCOME 1,095,538 555,104
INCOME BEFORE INCOME TAXES 2,775,733 1,699,577
Income taxes 29 521,422 249,317
NET INCOME ￦ 2,254,311 1,450,260
EARNINGS PER SHARE
Basic earnings per share in won 31 ￦ 5,752 3,949
Diluted earnings per share in won 31 ￦ 5,590 3,716
Non-consolidated
Statements of Appropriation of Retained Earnings
In millions of won, except share data
For the years ended December 31, 2010 and 2009
Date of Appropriation for 2010: March 18, 2011
Date of Appropriation for 2009: March 19, 2010
Note 2010 2009
UNAPPROPRIATED RETAINED EARNINGS
Balance at beginning of year ￦ - -
Decrease in retained earnings from purchase of equity method securities (38,784) (189,323)
Net income 2,254,311 1,450,260
BALANCE AT END OF YEAR BEFORE APPROPRIATION 2,215,527 1,260,937
APPROPRIATION OF RETAINED EARNINGS
Legal reserve 19,900 9,700
Reserve for research and human resources development 697,800 552,400
Reserve for technological development 1,299,089 601,838
Cash dividend -10.00% of par value of ￦ 5,000 per
share in 2010 and 5.00% of par value of ￦ 5,000 per share in 2009 32 198,738 96,999
UNAPPROPRIATED RETAINED
EARNINGS TO BE CARRIED OVER TO SUBSEQUENT YEAR ￦ - -
114 COMPONENTS OF SUSTAINABLE GROWTH 115
KIA MOTORS ANNUAL REPORT 2010