LG 2002 Annual Report Download - page 30

LG Electronics Inc. IAnnual Report 2002 I56 57
(In millions of Korean Won)
The accompanying notes are an integral part of these non-consolidated financial statements.
The accompanying notes are an integral part of these non-consolidated financial statements.
Continued;
(In millions of Korean Won)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income ￦ 277,716
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation 447,809
Amortization of discounts and premiums on on debentures 3,031
Provision for severance benefits 102,618
Loss from transfer of trade accounts and notes receivable 72,121
Bad debt expense 85,719
Foreign currency translation gains, net (29,283)
Gain on disposal of investments, net (2,955)
Loss on disposal of property, plant and equipment, net 58,451
Loss on disposal of intangible assets, net 379
Loss on redemption of debentures 1,302
Equity in earnings of affiliates, net (26,666)
Gain on valuation of derivatives, net (1,576)
Gain on derivatives transactions, net (11,716)
Product warranty provision 38,979
Others (5,455)
Changes in assets and liabilities:
Increase in trade accounts and notes receivable (67,074)
Increase in other accounts receivable (33,711)
Increase in inventories (325,609)
Increase in accrued income (61,431)
Increase in prepaid expenses (19,112)
Increase in advances (44,012)
Increase in other current assets (671)
Increase in deferred income tax assets (47,297)
Increase in trade accounts and notes payable 394,742
Increase in other accounts payable 593,967
Decrease in accrued expenses (585)
Increase in advances from customers 57,031
Increase in income taxes payable 156,609
Increase in withholdings 13,653
Payment of severance benefits (86,363)
Increase in severance insurance deposits (36,170)
Decrease in contributions to the National Pension Fund 3,048
Others (265)
Net cash provided by operating activities
￦￦
1,507,224
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of short-term financial instruments ￦ (436)
Acquisition of marketable securities (48)
Decrease in short-term and long-term loans, net 24,398
Disposal of long-term financial instruments 5,374
Disposal of refundable deposits (38,041)
Proceeds from disposal of investments 315,505
Acquisition of investments (678,612)
Proceeds from disposal of property, plant and equipment 15,917
Proceeds from disposal of intangible assets 3,188
Acquisition of property, plant and equipment (472,001)
Acquisition of intangible assets (95,832)
Disposal of derivatives 11,716
Others 96
Net cash used in investing activities (908,776)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from short-term borrowings, net 23,694
Proceeds from issuance of debentures 696,702
Payment of current maturities of long-term debt (1,311,748)
Payment of debentures (41,302)
Payment of long-term debt (45,079)
Acquisition of treasury stock (12,514)
Net cash used in financing activities (690,247)
DECREASE IN CASH AND CASH EQUIVALENTS (91,799)
CASH AT APRIL 1, 2002 (DATE OF SPIN-OFF) (Note 25) 108,975
CASH AT THE END OF THE PERIOD (Note 25)
￦￦
17,176
For the nine-month period from April 1, 2002 (date of spin-off) to December 31, 2002
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