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61
2000 Annual Report •Hyundai-Motor Company
NOTES TO FINANCIAL STATEMENTS
December 31, 2000 and 1999
The computation of the proposed dividends for 1999 is as follows:
Common shares, net of treasury shares
Preferred shares, net of treasury shares:
Old
New
￦102,395
14,050
23,132
￦
￦139,577
$ 81,285
11,154
18,363
$ 110,802
10%
11%
12%
204,789,049
25,545,671
38,553,865
U.S. dollars (Note 2)
(in thousands)
Korean won
(in millions)Dividend rateNumber of Shares
18. Income Tax Expense and Deferred Income Tax Assets
Income tax expense in 2000 and 1999 consists of the following:
Description
Income tax currently payable
Changes in deferred income taxes due to:
Temporary differences
Tax loss carryforward
Tax credit carried over
Deduction of capital surplus and
retained earnings
Income tax expense
2000
$ 138,607
(49,454)
-
-
-
(49,454)
$ 89,153
1999
$ 25,200
(19,241)
109,945
(51,057)
(610)
39,037
$ 64,237
1999
￦31,745
(24,238)
138,498
(64,316)
(769)
49,175
￦
￦80,920
2000
￦174,603
(62,297)
-
-
-
(62,297)
￦
￦112,306
U.S. dollars (Note 2)
(in thousands)
Korean won
(in millions)
In 2000 and 1999, the differences between income before tax in financial accounting and taxable income pursuant to
Corporate Income Tax Law of Korea are as follows:
Description
Income before tax
Addition
Deduction
Tax loss carryforward (*)
Taxable income
2000
$ 619,336
589,543
(420,183)
788,696
-
$ 788,696
1999
$ 393,145
488,145
(382,906)
498,384
(356,967)
$ 141,417
1999
￦495,245
614,916
(482,347)
627,814
(449,671)
￦
￦178,143
2000
￦780,177
742,648
(529,305)
993,520
-
￦
￦993,520
U.S. dollars (Note 2)
(in thousands)
Korean won
(in millions)
(*) Tax loss carryforward is tax deductible. The corresponding deferred income tax on the deduction of the tax loss
carryforward in 1999: ￦449,671 million ×0.308 = ￦138,498 million