Samsung 2005 Annual Report Download - page 98

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96
Note 7: Inventories
Inventories, net of valuation losses, as of December 31, 2005 and 2004, consist of the following:
Accounts Face
Value
Discount Present
Value
Period Weighted-Average
Interest Rate (%)
Long-term loans and others \89,204 \16,952 \65,952 2003.7~ 2011.12 4.8 ~ 8.0
Long-term payables \619,797 \87,641 \532,156 2000.12~ 2014.8 3.8 ~ 8.0
(in millions of Korean won)
Accounts that are valued at present value under long-term
installment transactions (including current portions) are as follows:
(in millions of Korean won) 2005 2004
Asset-backed securities with limited recourse \1,280,432 \816,252
Trade accounts receivable with recourse 548,035 417,847
Trade accounts receivable without recourse 1,170,480 1,289,622
\2,998,947 \2,523,721
The outstanding balance of trade accounts and notes
receivable sold to financial institutions as of December 31,
2005 and 2004, are as follows (note 19):
(in millions of Korean won) 2005 2004
Finished goods and merchandise \ 1,984,512 \1,790,802
Semi-finished goods and work-in-process 1,272,997 1,642,951
Raw materials and supplies 1,764,964 1,546,595
Materials in-transit 842,416 823,298
\5,864,889 \5,803,646
Inventories are insured against fire and other casualty losses
up to \7,476,123 million as of December 31, 2005
(2004: \7,240,973 million).
As of December 31, 2005, losses on valuation of inventories,
where net realizable value is below cost, amounted to
\142,738 million (2004: \90,106 million).