LG 2003 Annual Report Download - page 82

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82
Notes to Non-Consolidated Financial Statements
For the years ended December 31, 2003 and 2002
Upon a resolution of the Board of Directors on December 23, 2003, the Company entrusted its disposal and
voting rights for the 10,180,531 shares of the common stock of LG Investment & Securities Co., Ltd. to Woori Bank,
the representative of the creditor banks, as a part of the business normalization procedures of LG Card Co., Ltd.
10. Property, Plant and Equipment
Changes in property, plant and equipment for the year ended December 31, 2003 are as follows:
(in millions of Won)
Machinery and Furnitures and Standing Construction Machinery
Land Buildings Structures equipment Tools fixtures Vehicles Timber in-progress in-transit Total
Balance as of
January 1, 2003 ￦701,614 ￦882,219 ￦67,740 ￦563,864 ￦345,816 ￦205,579 ￦7,052 ￦4,366 ￦105,662 ￦9,460 ￦2,893,372
Acquisitions and
capital expenditure 12,493 31,556 4,058 79,820 169,476 83,370 3,743 4 210,459 164,020 758,999
Transfer-in (out) - 42,996 653 176,530 39,324 9,553 273 (9) (130,420) (165,147) (26,247)
Disposals (10,780) (23,981) (1,876) (28,582) (29,051) (5,784) (300) (5) (775) - (101,134)
Depreciation - (26,855) (4,998) (156,924) (125,728) (85,085) (2,680) - - - (402,270)
Balance as of
December 31, 2003 ￦703,327 ￦905,935 ￦65,577 ￦634,708 ￦399,837 ￦207,633 ￦8,088 ￦4,356 ￦184,926 ￦8,333 ￦3,122,720
Accumulated depreciation
as of December 31, 2003 ￦-￦157,337 ￦32,345 ￦580,176 ￦299,847 ￦318,917 ￦12,532 ￦-￦-￦-￦1,401,154
Changes in property, plant and equipment for the nine-month period from April 1, 2002 (spin-off date) to
December 31, 2002 are as follows:
(in millions of Won)
Machinery and Furnitures and Standing Construction Machinery
Land Buildings Structures equipment Tools fixtures Vehicles Timber in-progress in-transit Total
Balance as of
April 1, 2002 ￦692,645 ￦850,507 ￦65,687 ￦572,005 ￦308,080 ￦196,678 ￦6,868 ￦4,301 ￦87,898 ￦8,311 ￦2,792,980
Acquisitions and
capital expenditure 9,050 20,138 5,035 101,587 123,609 64,548 2,369 65 65,610 79,990 472,001
Transfer-in (out) - 31,737 768 60,977 26,516 1,096 70 - (47,475) (77,705) (4,016)
Disposals (81) (654) (341) (37,122) (28,971) (5,796) (361) - (371) (1,136) (74,833)
Depreciation - (19,509) (3,409) (133,583) (83,418) (50,947) (1,894) - - - (292,760)
Balance as of
December 31, 2002 ￦701,614 ￦882,219 ￦67,740 ￦563,864 ￦345,816 ￦205,579 ￦7,052 ￦4,366 ￦105,662 ￦9,460 ￦2,893,372
Accumulated depreciation
as of December 31, 2002 ￦-￦132,940 ￦28,262 ￦542,847 ￦360,459 ￦307,239 ￦14,030 ￦-￦-￦-￦1,385,777
As of December 31, 2003 and 2002, the value of the Company’s land, as determined by the local government in
Korea for property tax assessment purposes, approximates ￦676,051 million and ￦598,235 million, respectively.