LG 2001 Annual Report Download - page 80

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ยป80
LG Electronics Inc. The
43
rd Annual Report
Notes to Financial Statements
for the years ended December 31, 2001 and 2000
15. Capital Stock :
As of December 31, 2001 and 2000, capital stock is as follows :
2001 2000
Number of issuance (shares)
Par value Millions of Won
Number of issuance (shares)
Par value Millions of Won
Common stock 155,118,070 5,000 775,590 155,118,070 5,000 775,590
Preferred stock(*1) 19,095,547 5,000 95,478 19,095,547 5,000 95,478
Redeemable preferred
stock(*2) - 5,000 160,000 32,000,000 5,000 160,000
174,213,617 1,031,068 206,213,617 1,031,068
As of December 31, 2001 and 2000, the number of shares authorized is 500,000,000 shares.
(*1) As of December 31, 2001 and 2000, 19,095,547 shares of non-voting preferred stock are issued
and outstanding. The preferred shareholders have no voting rights and are entitled to non-participating and
non-cumulative preferred dividends at a rate of one percentage point over those for common stock. This
preferred dividend rate is not applicable to stock dividends.
(*2) On June 29, 2001, the Company redeemed 542,952 million (32,000,000 shares) of the
redeemable preferred stock issued on December 23, 2000 and reduced 544,000 million of retained
earnings, pursuant to the resolution by the board of directors on June 25, 2001. On December 31, 2001,
the Company recorded dividends payable of 20,121 million for the period from January 1, 2001 until
June 29, 2001. As a result, as of December 31, 2001, there is discrepancy between capital stock amount
and total par value amount of shares issued and oustanding.
16. Capital Surplus
In cases where the net assets of the combined enterprises exceed the consideration paid, the Company
records the excess amount as a gain on merger.
The Company revalued a substantial portion of its property, plant and equipment, effective January 1,
1981 and 1993, and October 1, 1998, in accordance with the Korean Asset Revaluation Law and
obtained relevant governmental approval. As of December 31, 2001, the revaluation increments of
339,619 million, net of tax, transfer to capital stock and offset against deferred foreign currency
translation losses, are credited to revaluation surplus.