LG 1999 Annual Report Download - page 32

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0
3
3. Restricted Financial Instruments :
As of December 31, 1999, short-term financial instruments of
￦
5,923 million and long-term financial instruments of
￦
6,846 million are
deposited in connection with maintaining checking accounts, various short-term borrowings and long-term debt, and research and development
projects funded by the government. The withdrawal of these financial instruments is restricted (see Notes 10 and 11).
In addition, long-term financial instruments of
￦
16,882 million as of December 31, 1999 represent deposits made under group severance
insurance plans. The withdrawal of such deposits is restricted to the actual payment of severance benefits (see Note 13).
4. Receivables :
Receivables, including trade accounts and notes receivable, as of December 31, 1999 comprise the following :
Millions of Won
Allowance for Discounts for
Costs doubtful accounts present value Carrying value
Trade accounts and notes receivable
￦
521,656
￦
38,259
￦
2,679
￦
480,718
Other accounts receivable 175,702 2,974 - 172,728
Accrued income 81,789 818 - 80,971
Advances 62,011 1,173 - 60,838
Other current assets 24,800 59 - 24,741
Long-term other accounts receivable 60,174 602 14,133 45,439
Long-term loans 31,517 315 - 31,202
Long-term trade accounts receivable 8,642 86 - 8,556
￦
966,291
￦
44,286
￦
16,812
￦
905,193
Maturities of certain trade accounts and notes receivable from customers which suffer financial difficulties and are in process of corporate
reorganization under the court are rescheduled and the receivables are discounted to record present value. Future annual maturities of such
receivables outstanding as of December 31, 1999 are as follows :
Millions of Won
For the year ending December 31, Amount to be collected Present value (* ) Discount
2000
￦
3,206
￦
2,973
￦
233
2001 2,359 2,220 139
2002 2,512 2,125 387
2003 2,913 2,207 706
2004 2,029 1,479 550
2005 and thereafter 2,000 1,336 664
￦
15,019
￦
12,340
￦
2,679
Future annual maturities of notes receivable from Hyundai Electronics Industries Co., Ltd. outstanding as of December 31, 1999, in relation to the
Company’s share transfer of LG Semicon Co., Ltd., are as follows :
Millions of Won
For the year ending December 31, Amount to be collected Present value (* ) Discount
2002
￦
60,174
￦
46,041
￦
14,133
(* ) Weighted average interest rate of long-term debt of the Company for the year ended December 31, 1999 (11% ) is used to calculate discounted present
value.