LG 2001 Annual Report Download - page 68

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ยป68
LG Electronics Inc. The
43
rd Annual Report
Notes to Financial Statements
for the years ended December 31, 2001 and 2000
9. Intangible Assets
Intangible assets as of December 31, 2001 and 2000 comprise the following :
Millions of Won
2001 2000
Goodwill 336,329 375,170
Development costs 189,338 120,557
Industrial property rights 484,902 558,702
Other 60,601 38,083
1,071,170 1,092,512
Details of research and development costs incurred for the years ended December 31, 2001 and 2000
are as follows :
Millions of Won
2001 2000
Capitalized 119,086 76,836
Expensed 471,658 295,776
590,744 372,612
As a result of the merger with LG Information & Communications, Ltd., the Company recognized
goodwill of 393,820 million and acquired industrial property rights of 578,788 million. Related
amortization expenses of goodwill and industrial property rights approximate 39,382 million and
76,359 million, respectively, for the year ended December 31, 2001 (see Note 25).
10. Short-Term Borrowings:
Short-term borrowings as of December 31, 2001 and 2000 comprise the following :
In Millions
Annual Interest Rates (%)
as of December 31, 2001 2001 2000
Bank overdrafts 7.0 9.0 37,155 430
Won currency loans :
General term loans 4.8 4.9 7,500 171,500
Notes discounted - - 357,100
7,500 528,600
Foreign currency loans - - 11,849
US$ - US$ 9
Trade loans 1.0 5.5 7,215 117,476
US$ 5 US$ 91
28 250
51,870 658,355