LG 2004 Annual Report Download - page 94

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LG Electronics Inc.
Notes to Non-Consolidated Financial Statements
December 31, 2004 and 2003
12. Insured Assets
As of December 31, 2004, property, plant and equipment, other than land and certain construction-in-progress, and inventories
are insured against fire and other casualty losses up to approximately 6,263,079 million. In addition, the Company is insured
against business interruption losses and losses arising from the transportation of goods up to approximately 5,214,172 million and
279,365 million, respectively.
13. Intangible Assets
Changes in intangible assets for the year ended December 31, 2004, are as follows:
1. The Company recognized impairment losses on intangible assets due to expiration of industrial property rights.
1. In accordance with SKFAS No. 3, the remaining balance of organization costs was deducted from retained earnings.
Balance as of January 1, 2004
Additions
Disposals
Amortization
Impairment loss 1
Balance as of December 31, 2004
Accumulated amortization as of December 31, 2004
(in millions of Korean won)
Goodwill
256,102
753
(728)
(40,153)
-
215,974
182,329
Industrial
property rights
381,139
21,787
(13)
(85,983)
(38,105)
278,825
372,003
Development
costs
115,571
2
(71)
(53,698)
-
61,804
207,015
Other intangible
assets
83,489
24,672
(659)
(28,573)
-
78,929
91,538
Total
836,301
47,214
(1,471)
(208,407)
(38,105)
635,532
852,882
Changes in intangible assets for the year ended December 31, 2003, were as follows:
Balance as of January 1, 2003
Additions
Disposals
Amortization
Balance as of December 31, 2003
Accumulated amortization as of
December 31, 2003
(in millions of Korean won)
Industrial
property rights
415,497
49,368
-
(83,726)
381,139
285,222
Goodwill
296,012
598
(261)
(40,247)
256,102
141,619
Development
costs
183,877
-
-
(68,306)
115,571
226,057
Organization
costs1
3,271
-
-
(3,271)
-
-
Other intangible
assets
73,810
33,015
(13)
(23,323)
83,489
62,271
Total
972,467
82,981
(274)
(218,873)
836,301
719,017