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90 HYUNDAI MOTOR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006
16. PLEDGED ASSETS, CHECKS AND NOTES:
As of December 31, 2007, the following assets, checks and notes are pledged as collateral:
(1) The Company’s and its domestic subsidiaries' property, plant and equipment are pledged as collateral for various loans to a maximum
of 3,386,204 million (US$3,609,256 thousand).
(2) The Company’s and its domestic subsidiaries’ certain bank deposits and investment securities, including 23,993,466 shares of Kia
Motors Corporation, 2,681,646 shares of Eukor Car Carriers Inc., 12,005 shares of Eukor Car Carriers Singapore Pte Ltd. and some
government bonds are pledged as collateral to financial institutions and others.
(3) Certain overseas subsidiaries’ receivables, inventories and other financial business assets are pledged as collateral for their
borrowings.
(4) 45 blank checks, 2 checks amounting to 5,754 million (US$ 6,133 thousand), 115 blank promissory notes and 2 promissory notes
amounting to 1,820 million (US$ 1,940 thousand) are pledged as collateral for short-term borrowings, long-term debt and other
payables.
17. ACCRUED WARRANTIES:
The changes in accrued warranties in current and long-term liabilities in 2007 and 2006 are as follows:
Authorized Issued Par value Korean Won Translation into
(In millions) U.S. Dollars
(Note 2)
(In thousands)
Common stock 450,000,000 shares 219,873,808 shares 5,000 1,155,969 $1,232,114
Preferred stock 150,000,000 shares 65,202,146 shares 5,000 331,011 352,815
1,486,980 $1,584,929
Korean Won
(In millions)
Translation into
U.S. Dollars (Note 2)
(In thousands)
Description 2007 2006 2007 2006
Beginning of year 4,165,854 4,080,597 $4,440,262 $4,349,389
Accrual 647,470 583,778 690,119 622,232
Use (632,476) (498,521) (674,137) (531,359)
End of year 4,180,848 4,165,854 $4,456,244 $4,440,262
18. CAPITAL STOCK:
Capital stock as of December 31, 2007 consists of the following: