Samsung 2009 Annual Report Download - page 31

58 59 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the years ended December 31, 2009 and 2008, changes in valuation gain or loss on short-term available-for-sale securities are as
follows:
6. Receivables and Payables
Accounts and notes receivable, and their allowance for doubtful accounts as of December 31, 2009 and 2008, are as follows:
As of December 31, 2009, the Company has credit insurance with Korea Export Insurance and overseas insurance companies against its
export accounts receivable with their approved foreign customers.
Accounts that are valued at present value under long-term installment transactions, including current portions, are as follows:
(In millions of Korean won)
2009
Valuation Gain on Available-For-Sale Securities Valuation Loss on Available-For-Sale Securities
Balance at
January 1,
2009
Valuation
Amount
Included in
Earnings
Balance at
December
31, 2009
Balance at
January 1,
2009
Valuation
Amount
Included in
Earnings
Balance at
December
31, 2009
Beneficiary certificates
₩
12,067
₩
4,420
₩
12,067
₩
4,420
₩
-
₩
-
₩
-
₩
-
Financial institution bonds
₩
12,067
₩
4,420
₩
12,067
₩
4,420
₩
-
₩
-
₩
--
Deferred income tax (1,070)
₩
3,350
₩
-
(In millions of Korean won)
2008
Valuation Gain on Available-For-Sale Securities Valuation Loss on Available-For-Sale Securities
Balance at
January 1,
2008
Valuation
Amount
Included in
Earnings
Balance at
December
31, 2008
Balance at
January 1,
2008
Valuation
Amount
Included in
Earnings
Balance at
December
31, 2008
Beneficiary certificates
₩
5,493
₩
12,067
₩
5,493
₩
12,067
₩
-
₩
-
₩
-
₩
-
Financial institution bonds - - - - (196) - (196) -
₩
5,493
₩
12,067
₩
5,493
₩
12,067
₩
(196)
₩
-
₩
(196) -
Deferred income tax (2,920) -
₩
9,147
₩
-
(In millions of Korean won)
2009 2008
Trade accounts and notes receivable
₩
17,190,192
₩
12,133,793
Less: Allowance for doubtful accounts (128,795) (89,814)
₩
17,061,397
₩
12,043,979
Other accounts and notes receivable
₩
2,099,610
₩
1,582,861
Less: Allowance for doubtful accounts (20,445) (24,483)
Discounts on present value (4) (99)
₩
2,079,161
₩
1,558,279
(In millions of Korean won)
Accounts Face
Value Discount Present Value Period Weighted-Average Interest Rate (%)
Long-term loans and other receivables
₩
143,217
₩
10,173
₩
133,044 2004.11~2014.11 4.8~8.7
Long-term payables and other payables 2,093,776 269,839 1,823,937 2002.12~2017.3 7.7~8.7
7. Inventories
Inventories, net of valuation losses, as of December 31, 2009 and 2008, consist of the following:
Inventories are insured against fire and other casualty losses for up to
₩
8,013,858 million as of December 31, 2009 (2008:
₩
7,853,380
million).
As of December 31, 2009, losses on valuation of inventories, amounted to
₩
386,802 million (2008:
₩
651,296 million).
8. Financing Receivables
Financing receivables of the consumer financing subsidiary, Samsung Card Co., Ltd., as of December 31, 2009 and 2008, are as follows:
(In millions of Korean won)
2009 2008
Finished goods and merchandise
₩
3,097,153
₩
3,049,834
Semi-finished goods and work-in-process 1,903,079 2,067,935
Raw materials and supplies 3,207,619 3,113,563
Materials-in-transit 1,773,213 1,261,275
₩
9,981,064
₩
9,492,607
(In millions of Korean won)
Accounts 2009 2008
Short-term financing receivables Detail
Credit card assets
₩
5,188,235
₩
5,193,739
Installment finance (1) 161,281 306,221
General loans (1) 175,470 569,332
Lease assets (2) 169,236 182,898
Call loans and others 467,997 470,232
6,162,219 6,722,422
Less: Allowance for doubtful accounts (270,651) (455,910)
5,891,568 6,266,512
Long-term financing receivables Detail
Credit card assets 1,737,927 1,845,906
Installment finance (1) 147,517 423,863
General loans (1) 100,300 428,171
Lease assets (2) 648,369 1,000,959
Trust assets and others 184,676 198,088
2,818,789 3,896,987
Less : Allowance for doubtful accounts (64,246) (192,195)
2,754,543 3,704,792
₩
8,646,111
₩
9,971,304