LG 2003 Annual Report Download - page 69

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LG Electronics Inc._Annual Report 2003 69
Notes to Non-Consolidated Financial Statements
For the years ended December 31, 2003 and 2002
Percentage of 2003 2002
ownership (%) at Net asset Net asset
December 31, Acquisition value Carrying Acquisition value Carrying
2003 cost /Market value value cost /Market value value
E2OPEN.COM 6.87 15,694 1,899 15,694 12,751 3,606 12,751
COMMIT Incorporated 13.47 4,990 4,990 4,990 - - -
Cenix Inc. - - - - 3,272 958 3,272
Monet Mobile Networks 1.90 1,299 276 1,299 1,299 871 1,299
SUNPOWER.INC 10.35 1,257 258 1,257 1,257 219 1,257
Others - 507 507 507 346 346 346
46,938 24,032 43,499 66,944 45,036 61,442
(in millions of Won)
2003 2002
Acquisition Market Carrying Acquisition Market Carrying
cost value value cost value value
DEBT SECURITIES
Bonds issued by the government 856 856 856 11 9 9
Convertible bonds issued by NeoDis Ltd.
2,204 2,204 2,204 - - -
3,060 3,060 3,060 11 9 9
￦443,817 ￦227,201 ￦246,668 ￦224,460 ￦183,334 ￦199,740
(*1) This was reclassified into available-for-sale securities in 2003 from equity method investment securities in 2002.
(*2) Carrying value was fully written down due to the negative net book value of the investment as of December 31, 2003.
(*3) This was reclassified into equity method investment securities in 2003 from available-for-sale securities in 2002.
Held-to-maturity securities as of December 31, 2003 and 2002 are as follows:
(in millions of Won)
2003 2002
Senior secured note issued by
Zenith Electronics Corporation (“Zenith”) ￦-￦97,817
Others 44 44
￦44 ￦97,861
The senior secured note issued by Zenith, outstanding as of December 31, 2002, was converted from the
Company’s receivables from Zenith in accordance with the reorganization plan of Zenith approved by a legal court
in the United States of America on November 5, 1999. The note’s terms and conditions were as follows:
Interest: LIBOR + 1.0% per annum to be paid on the maturity date
Maturity of principal: November 1, 2009
The above note was fully collected during October 2003 (Note 9).