Kia 2013 Annual Report Download - page 52

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


For the years ended December 31, 2013 and 2012
15.
Other Liabilities
Other liabilities as of December 31, 2013 and 2012 are summarized as follows:
 
Other current liabilities:
Unearned income ₩11,207 7,482
Dividends payable 24 24
Guarantee received 2,158 3,113
Finance lease liabilities - current 5,934 5,710
Other 18,350 34,523
₩37,673 50,852
Other non-current liabilities:
Leasehold deposits received ₩18,103 19,693
Long-term unearned income 403 -
Long-term accounts and notes payable - other 5,018 1,928
Liability for payment guarantee 1,349 124
Finance lease liabilities 11,448 16,161
Long-term accrued expenses 61,673 86,701
₩97,994 124,607
(In millions of won)
16.
Employee Benefits
(a) Details of net defined benefit liabilities as of December 31, 2013 and 2012 are summarized as follows:
 
Defined benefit plan:
Present value of defined benefit obligations ₩1,154,866 961,535
Fair value of plan assets (982,952) (940,084)
Net defined benefit liabilities ₩171,914 21,451
(In millions of won)
(b) The components of plan assets as of December 31, 2013 and 2012 are summarized as follows:
 
Time deposits and others ₩982,952 940,084
(In millions of won)
(c) The components of retirement benefit costs for the years ended December 31, 2013 and 2012 are summarized as follows:
 
Current service costs ₩251,570 201,105
Interest costs, net 791 11,221
₩252,361 212,326
(In millions of won)
(d) The principal actuarial assumptions used as of December 31, 2013 and 2012 are summarized as follows:
 
Discount rate 4.50% 3.94%
Rate of inflation 3.00% 3.00%
Rate of future salary growth (including rate of inflation) 5.00% 5.00%
 
Balance at January 1 961,535 948,871
Current service costs 251,570 201,105
Interest costs 37,588 37,737
Remeasurements of:
Net actuarial gains(losses) of the effect of
financial assumptions change (770) (890)
Net actuarial gains(losses) of the effect of
demographic assumptions change (82,013) 135,651
Other 3,902 62,292
Increase (decrease) due to transference between affiliates (1,999) 214
Benefit paid by the plan (14,947) (423,445)
Balance at December 31 1,154,866 961,535
(In millions of won)
(e) Changes in present value of defined benefit obligations for the years ended December 31, 2013 and 2012 are summarized as follows:
 
Balance at January 1 ₩940,084 674,271
Return on plan assets 36,797 26,516
Remeasurements (2,774) 300
Contribution paid into the plan 17,000 470,000
Transference between affiliates, net 114 129
Benefit paid by the plan (8,269) (231,132)
Balance at December 31 ₩982,952 940,084
(In millions of won)
(f) Changes in fair value of plan assets for the years ended December 31, 2013 and 2012 are summarized as follows:
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