LG 2000 Annual Report Download - page 53

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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 W16,882 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, 2000 and 1999 comprise the following (Millions of
Won) :
2000 1999
Allowance Discounts Carrying Allowance Discounts Carrying
Costs for doubtful for present value Costs for doubtful for present value
Millions of won accounts value accounts value
Trade accounts and
notes receivable W 896,516 W 94,208 W2,707 W 799,601 W521,656 W38,259 W 2,679 W480,718
Other accounts
receivable 185,700 21,559 – 164,141 175,702 2,974 – 172,728
Accrued income 225,637 34,098 – 191,539 81,789 818 – 80,971
Advances 160,225 1,445 – 158,780 62,011 1,173 – 60,838
Other current assets 6,910 65 – 6,845 24,800 59 – 24,741
Long-term trade
accounts receivable 4,547 45 – 4,502 8,642 86 – 8,556
Long-term other
accounts receivable – – – – 60,174 602 14,133 45,439
Long-term loans 148,082 31,105 – 116,977 31,517 315 – 31,202
W1,627,617 W182,525 W2,707 W1,442,385 W966,291 W44,286 W16,812 W905,193
Maturities of certain trade accounts and notes receivable from customers which are suffering 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, 2000 are as follows :
Millions of won
For the year ending December 31, Amount to be Present value* Discount
collected
2001 W 3,407 W 2,377 W 1,030
2002 2,510 2,094 416
2003 2,980 2,400 580
2004 2,041 1,691 350
2005 2,001 1,670 331
W 12,939 W 10,232 W 2,707
*Weighted average interest rate of long-term debt of the Company for the year ended December 31, 1999 (11.0%) is used to calculate discounted
present value.
As of December 31, 2000, the outstanding balance of notes receivable, sold at discount to financial institution with recourse, from
Hyundai Electronics Industries Co., Ltd. in relation to the Company’s share transfer of LG Semicon Co., Ltd. in 1999 is W550,024
million.
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