Kia 2014 Annual Report Download - page 48

December 31, 2014 and 2013
Notes to the Consolidated
Financial Statements
KIA MOTORS CORPORATION AND SUBSIDIARIES
(f) The capitalized borrowing costs and capitalization interest rate for the years ended December 31, 2014 and 2013 are summarized as follows:
2014 2013
Capitalized borrowing costs(*)
₩ 39,533
18,452
Capitalization interest rate 4.26% 2.61%
(*) Including borrowing costs that were capitalized in respect of development cost
₩
13,225 million in 2014 (2013:
₩
6,073 million).
10. Investment Property
(a) Details of investment property as of December 31, 2014 and 2013 are summarized as follows:
2014 2013
Acquisition
cost
Accumulated
depreciation and
impairment loss
Carrying
amount
Acquisition
cost
Accumulated
depreciation and
impairment loss
Carrying amount
Land ₩ 22,031 - 22,031 21,151
- 21,151
Buildings 35,868 (6,650) 29,218 34,436 (5,333) 29,103
₩ 57,899 (6,650) 51,249 55,587 (5,333) 50,254
(b) Changes in investment property for the year ended December 31, 2014 are summarized as follows:
Beginning balance Depreciation Other Ending
balance
Land ₩ 21,151
- 880 22,031
Buildings 29,103 (1,050) 1,165 29,218
₩ 50,254 (1,050) 2,045 51,249
(c) Changes in investment property for the year ended December 31, 2013 are summarized as follows:
Beginning balance Depreciation Other Ending
balance
Land ₩ 20,828
- 323 21,151
Buildings 30,606 (1,092) (411) 29,103
₩ 51,434 (1,092) (88) 50,254
(b) Details of changes in property, plant and equipment for the year ended December 31, 2014 are summarized as follows:
Beginning
balance
Acquisition Disposal(*1) Depreciation Reclassication Other(*4) Ending
balance (*2)
Land ₩ 2,684,696 - (19,425) - 2,332 1,409 2,669,012
Buildings 1,880,973 4,010 (7,776) (100,181) 212,159 (12,368) 1,976,817
Structures 276,827 750 (1,397) (25,328) 30,077 (3,424) 277,505
Machinery and equipment (*3) 3,186,242 36,395 (24,471) (395,360) 404,345 (25,980) 3,181,171
Dies, molds and tools 728,822 17,025 (4,766) (315,576) 390,255 (3,493) 812,267
Vehicles 103,826 15,830 (27,647) (32,050) 73,733 (4,948) 128,744
Other equipment 174,434 25,638 (2,607) (58,476) 38,953 (5,977) 171,965
Construction- in-progress 741,185 1,310,448 (1,076) - (1,151,854) (1,867) 896,836
₩ 9,777,005 1,410,096 (89,165) (926,971) - (56,648) 10,114,317
(*1) The net amount of loss on sale of property, plant and equipment is
₩
31,672 million for the year ended December 31, 2014.
(*2) The Company cumulatively received
₩
201,821 million government grants as of December 31, 2014 through investment agreement with Slovakia government.
The grants are deducted in calculating the carrying amount of the asset.
(*3) Finance lease assets are included.
(*4) Other increase (decrease) is mainly related to foreign currency translation impact.
(c) Details of changes in property, plant and equipment for the year ended December 31, 2013 are summarized as follows:
Beginning
balance
Acquisition Disposal Depreciation Reclassication Other(*) Ending
balance
Land ₩ 2,873,184 2,670 (192,328) - 1,626 (456) 2,684,696
Buildings 1,790,053 3,445 (10,641) (92,879) 187,039 3,956 1,880,973
Structures 276,143 1,008 (5,355) (24,740) 29,003 768 276,827
Machinery and equipment 3,151,569 30,555 (26,440) (379,071) 401,068 8,561 3,186,242
Dies, molds and tools 680,261 38,314 (4,715) (261,325) 273,797 2,490 728,822
Vehicles 104,500 20,296 (23,219) (28,274) 31,199 (676) 103,826
Other equipment 151,763 44,771 (1,920) (51,693) 28,707 2,806 174,434
Construction- in-progress 693,725 1,001,093 (1,143) - (952,439) (51) 741,185
₩ 9,721,198 1,142,152 (265,761) (837,982) - 17,398 9,777,005
(*) Other increase (decrease) mainly related to foreign currency translation impact.
(d) As of December 31, 2014, KMS has a purchase commitment for plant expansion in connection of which, KMS acquired property, plant, and
equipment amounting EUR 20,327 thousand.
(e) As of December 31, 2014, the consortium of the Company, Hyundai Motor Company and Hyundai Mobis Corporation, entered into a contract
with KEPCO to purchase real estate for ₩ 2,110,000 million.
(KRW in millions)
(KRW in millions)
(KRW in millions)
(KRW in millions)(KRW in millions)
(KRW in millions)
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