LG 2007 Annual Report Download - page 37

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68 + 69
(in millions of Korean won, except per share amounts) 2007 2006
Sales
23,501,935 23,170,719
Cost of sales 18,339,833 17,727,403
Gross profit 5,162,102 5,443,316
Selling and administrative expenses 4,597,518 4,908,402
Operating income 564,584 534,914
Non-operating income
Interest income 56,009 45,743
Rent income 27,758 28,495
Foreign exchange gains 225,526 326,121
Reversal of allowance for doubtful accounts - 7,473
Gain on disposal of investment securities 30,307 24,792
Gain on disposal of property, plant and equipment 41,905 4,988
Gain from redemption of debentures 8,240 20
Equity in earnings of equity-method investees 1,413,598 225,018
Gain on settlement of derivatives 35,851 45,936
Gain on valuation of derivatives 1,799 11,154
Others 22,172 34,641
Total non-operating income 1,863,165 754,381
Non-operating expenses
Interest expense 119,073 150,019
Foreign exchange losses 198,919 172,300
Donations 15,288 15,713
Loss from disposal of property, plant and equipment 34,176 15,863
Loss on impairment of assets 101,762 837
Loss from transfer of trade accounts and notes receivable 202,594 204,546
Equity in losses of equity-method investees 119,653 399,644
Loss on settlement of derivatives 40,280 27,101
Loss on valuation of derivatives 72,571 29,499
Other depreciation 23,869 -
Others 12,651 11,970
Total non-operating expenses 940,836 1,027,492
Income before income taxes 1,486,913 261,803
Income tax expense 264,518 22,600
Net income
1,222,395 239,203
Basic earnings per share (in won)
7,584
1,480
Diluted earnings per share (in won)
7,584
1,480
(in millions of Korean won) 2007 2006
Retained earnings before appropriations
Unappropriated retained earnings carried over from prior year
(44,597)
99
Cumulative effect of change in accounting principle - (71,182)
Changes in retained earnings arising from equity method accounting - (57,214)
Net income 1,222,395 239,203
1,177,798 110,906
Transfer from voluntary reserve
Reserve for research and manpower development 2,226,347 2,204,668
3,404,145 2,315,574
Appropriations of retained earnings
Legal reserve 13,777 12,165
Reserve for research and manpower development 3,252,504 2,226,347
Cash dividends 137,765 121,659
Dividends (ratio) per share
Common stock:
\
850 (17%) in 2007
\
750 (15%) in 2006
Preferred stock:
\
900 (18%) in 2007
\
800 (16%) in 2006
Unappropriated retained earnings to be
carried forward to subsequent year
NON-CONSOLIDATED STATEMENTS OF APPROPRIATIONS OF RETAINED EARNINGSNON-CONSOLIDATED STATEMENTS OF INCOME
Years Ended December 31, 2007 and 2006 Years Ended December 31, 2007 and 2006
(Dates of Appropriations: March 14, 2008 and March 23, 2007 for the years ended December 31, 2007 and 2006, respectively)
3,404,046 2,360,171
99 (44,597)