Kia 2015 Annual Report Download - page 95

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14. Non-current Assets Held for Sale
Non-current assets held for sale as of December 31, 2015 are summarized as follows:
(In millions of won)
2015
Investment in associates (*)
₩
161,274
(*) According to the Company’s plans to dispose of its shares of Hyundai Steel Company amounted to W 337,020 million in the future, the Company classified the shares as non-current
assets held for sale from investments in associates during the year. Also, the Company recognized impairment loss on non-current assets held for sale of W 175,746 million which is the
difference between fair value less costs to sell and carrying amount.
15. Borrowings
(a) Short-term borrowings
Short-term borrowings as of December 31, 2015 and 2014 are summarized as follows:
(In millions of won)
Lender Annual interest rate 2015 2014
Usance bills Woori Bank and others 0.36%~1.11%
₩
103,646 117,158
Trade bills (*) Korea Development Bank and others 0.003%~2.45% 1,408,778 1,272,675
₩
1,512,424 1,389,833
(*) The Company did not derecognize outstanding trade accounts and notes receivable transferred to the financial institutions and recognized the transactions as borrowings from financial
institutions.
(b) Long-term debt
Long-term debt in local currency as of December 31, 2015 and 2014 are summarized as follows:
(In millions of won)
Lender Annual interest rate 2015 2014
Facility loans
Korea Development Bank 2.47%~2.83%
₩
360,000 230,000
Nong Hyup Bank 2.40%~3.50% 250,000 180,000
Woori Bank 2.48% 200,000 200,000
General loans Kookmin Bank - -150,000
810,000 760,000
Less : current portion of long-term borrowings (410,000) -
₩
400,000 760,000
89
ANNUAL REPORT 2015 |