Samsung 2013 Annual Report Download - page 55

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2013 SAMSUNG ELECTRONICS ANNUAL REPORT
(2) Summarized consolidated statements of comprehensive income
(In millions of Korean won)
Samsung Display and its subsidiaries
2013 2012
Sales 29,478,707 21,737,347
Net income 2,669,623 2,329,078
Other comprehensive income (26,415) (82,279)
Total comprehensive income attributable to: 2,643,208 2,246,799
Owners of the parent 2,631,672 2,252,282
Non-controlling interests 11,536 (5,483)
(3) Summarized consolidated statements of cash ows
(In millions of Korean won)
Samsung Display and its subsidiaries
2013 2012
Cash ows from operating activities 7,748,974 6,073,334
Cash ows from investing activities (10,321,562) (3,659,543)
Cash ows from nancing activities (1,339,815) 1,004,134
Exchange rate effect on foreign currency (cash) 13,546 (7,152)
Increase (decrease) in cash and cash equivalents (3,898,857) 3,410,773
Cash and cash equivalents at beginning of period 5,341,713 1,930,940
Cash and cash equivalents at end of period 1,442,856 5,341,713
36. Business Combination
Samsung Electronics America, the Company’s subsidiary, acquired 100% of
equity shares of NeuroLogica, with a closing date of January 28, 2013 and
the entity became part of the consolidation as of the same date.
(A) Overview of the acquired company
Name of the acquired company NeuroLogica
Headquarters location Danvers, MA. USA
Representative director Eric Bailey
Classication of
the acquired company Non-listed company
Current relationship with
the Company Subsidiary
(B) Purchase price allocation
The following table summarizes the consideration paid for NeuroLogica,
the amounts of the assets acquired and liabilities assumed as of
the acquisition date.
(In millions of Korean won)
Amount
Ⅰ. Consideration transferred ￦167,819
Ⅱ. Identiable assets and liabilities
Cash and cash equivalents 664
Trade and other receivables 7,301
Inventories 8,576
Property, plant and equipment 1,052
Intangible assets 51,222
Trade and other payables (8,265)
Deferred income tax liabilities (8,630)
Total net identiable assets 51,920
Ⅲ. Goodwill ￦115,899
Had NeuroLogica been consolidated on January 1, 2013, revenue would
increase by ￦1,043 million and net loss would increase by ￦403 million on
the consolidated statement of income. Revenue and net loss contributed
by NeuroLogica after the consolidation date of January 28, 2013 amount to
￦38,646 million and ￦385 million, respectively.
37. Events after the Reporting Period
(A) On January 1, 2014, an amendment to local income tax laws was
promulgated in Republic of Korea, where the controlling Company
is domiciled. This is expected to affect the measurements of current
tax for annual periods beginning on or after January 1, 2014 and of
deferred tax assets resulting from the decline in future tax effects
on tax credit carryforwards.
(B) On January 15, 2014, the Company disposed of all shares
(percentage of ownership: 42.54%) of Samsung Corning Precision
Materials for USD 1,902 million and acquired 2,300 shares of
convertible preferred stocks of Corning Incorporated for USD 2,300
million.
(C) Based on the Board of Directors resolution dated January 24, 2014,
the Company decided to participate in a capital increase (investment
amount: ￦301,000 million) to expand the production capacity and to
fund the development of biosimilars of Samsung Biologics, a related
party of the Company.