Samsung 2006 Annual Report Download - page 107

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97
2006
Land Buildings and
Structures
Machinery
and
Equipment
Construction-
In-Progress/
Machinery- In-
Transit
Tools and
Vehicles
Total
Balance at January 1, 2006 \2,768,774 \5,570,436 \15,850,980 \4,033,198 \1,052,773 \29,276,161
Acquisition 3,306 59,430 376,891 11,089,236 209,428 11,738,291
Transfer 276,892 1,375,293 8,924,265 (10,941,017) 364,567 -
Disposal (64,372) (98,285) (91,858) - (37,082) (291,597)
Depreciation - (422,703) (5,837,939) - (435,520) (6,696,162)
Others ¹(7,781) (30,129) (80,802) (135,298) 11,932 (242,078)
Balance at December 31, 2006 \2,976,819 \6,454,042 \19,141,537 \4,046,119 \1,166,098 \33,784,615
2005
Land Buildings and
Structures
Machinery
and
Equipment
Construction-
In-Progress/
Machinery- In-
Transit
Tools and
Vehicles
Total
Balance at January 1, 2005 \2,273,296 \4,851,477 \12,188,848 \3,692,511 \956,264 \23,962,396
Acquisition 10,066 87,386 600,586 10,547,037 295,150 11,540,225
Transfer 517,979 1,058,292 8,293,915 (10,135,959) 265,773 -
Disposal (15,138) (35,780) (121,264) - (20,203) (192,385)
Depreciation - (346,148) (5,088,871) - (430,733) (5,865,752)
Others ¹(17,429) (44,791) (22,234) (70,391) (13,478) (168,323)
Balance at December 31, 2005 \2,768,774 \5,570,436 \15,850,980 \4,033,198 \1,052,773 \29,276,161
Note 11 : Property, Plant and Equipment
Movements property, plant and equipment for the years ended December 31, 2006 and 2005, consist of the following:
(In millions of Korean won)
¹ Others include amounts from changes in consolidation category and changes in foreign currency exchanges rates.
In accordance with the Asset Revaluation Law, on January 1,
1980, 1982, 1998 and April 1, 1999, SEC revalued a substantial
portion of its property, plant, equipment and investments in
equity securities by \3,051,612 million. The remaining revaluation
increments amounting to \1,209,161 million, net of revaluation
tax, credits to deferred foreign currency translation losses
and others, were credited to capital surplus, a component of
shareholders’ equity.
In addition, on October 1, 2000, Samsung Kwangju Electronics
Co., Ltd. revalued a substantial portion of its property, plant
and equipment by \63,326 million. The revaluation increment
of \62,145 million, net of revaluation tax of \1,181 million, was
credited to capital surplus.
As of December 31, 2006, certain portion of overseas subsidiaries’
property, plant and equipment, \4,633 million (equivalent to US$
4,984 thousand) (2005: \5,620 million (equivalent to US$ 5,547
thousand)) is pledged as collaterals for various loans from financial
institutions.
As of December 31, 2006, property, plant, equipment are insured
against fire and other casualty losses, and business interruption
losses of up to \56,492,021 million (2005: \55,261,920
million) and \21,456,224 million (2005: \21,298,026 million),
respectively.
As of December 31, 2006, Samsung Card Co., Ltd., an SEC
subsidiary, recorded \505,319 million (2005: \432,958 million)
of operating lease assets, cancellation lease assets and prepaid
finance lease assets acquired through the lease financing
business (Note 8).