Samsung El.gdr Regulatory News (SMSN)

31 May 2007 07:07

Samsung Electronics Co. Ld31 May 2007 Samsung Electronics Co., Ltd.Consolidated Financial StatementsDecember 31, 2006 and 2005 Samsung Electronics Co., Ltd. and SubsidiariesConsolidated Balance SheetsDecember 31, 2006 and 2005 (In millions of Korean won and in thousands of U.S. dollars (Note 3)) 2006 2005 2006 2005Assets KRW KRWCurrent assetsCash and cash equivalents 4,222,027 4,082,817 $ 4,544,701 $ 4,394,851Short-term financial instruments (Note 4) 3,504,366 4,061,388 3,772,192 4,371,785Short-term available-for-sale securities 2,058,781 1,930,802 2,216,126 2,078,366 (Note 5)Short-term held-to-maturity securities 248 1,076 267 1,158 (Note 5)Trade accounts and notes receivable, net 9,089,452 7,397,353 9,784,125 7,962,705of allowance for doubtful accounts (Note6)Other accounts and notes receivable, net 972,426 1,102,620 1,046,745 1,186,889of allowance for doubtful accounts (Note6)Inventories, net of valuation losses 6,753,445 5,864,889 7,269,586 6,313,121(Note 7)Short-term financing receivables, net 4,586,972 5,663,347 4,937,537 6,096,175(Note 8)Short-term deferred income tax assets 1,469,973 1,159,245 1,582,318 1,247,842 (Note 26)Prepaid expenses and other current assets 2,331,215 2,135,615 2,509,379 2,298,832Total current assets 34,988,905 33,399,152 37,662,976 35,951,724 Property, plant and equipment, including 33,784,615 29,276,161 36,366,647 31,513,629revaluations, net of accumulateddepreciation (Note 11)Long-term available-for-sale securities 2,557,004 2,232,601 2,752,426 2,403,230 (Note 9)Long-term held-to-maturity securities 197,680 221,838 212,788 238,792(Note 9)Equity-method investments (Note 10) 3,393,617 2,923,314 3,652,978 3,146,732Deferred income tax assets (Note 26) 353,027 522,689 380,008 562,636Intangible assets, net of accumulated 658,385 632,856 708,703 681,223amortization (Note 12)Long-term financing receivables, net of 3,806,535 3,753,470 4,097,454 4,040,334allowance for doubtful accounts (Note 8)Long-term deposits and other assets, net 1,626,438 1,499,717 1,750,741 1,614,335 (Note 13)Total assets 81,366,206 74,461,798 $ 87,584,721 $ 80,152,635 (In millions of Korean won and in thousands of U.S. dollars (Note 3)) 2006 2005 2006 2005Liabilities and Shareholders' Equity KRW KRWCurrent liabilitiesTrade accounts and notes payable 4,578,915 4,206,962 $ 4,928,864 $ 4,528,484Short-term borrowings (Note 14) 7,360,778 7,807,865 7,923,335 8,404,591Current maturities of long-term debts 2,771,866 3,786,791 2,983,709 4,076,201 (Notes 14 and 15)Other accounts and notes payable 3,609,419 3,336,651 3,885,273 3,591,659Accrued expenses 5,011,755 4,191,577 5,394,785 4,511,924Income taxes payable 1,263,088 896,862 1,359,621 965,406Other current liabilities 927,050 681,882 997,902 733,995Total current liabilities 25,522,871 24,908,590 27,473,489 26,812,260 Long-term debts, net of current 4,210,669 4,691,501 4,532,475 5,050,055maturities (Note 15)Foreign currency notes and bonds (Note 133,797 146,207 144,023 157,38116)Long-term accrued expenses (Note 18) 276,019 134,974 297,114 145,290Long-term advances received 341,438 507,310 367,533 546,082Accrued severance benefits, net (Note 17) 721,205 576,922 776,324 621,014Deferred income tax liabilities (Note 26) 1,182,262 905,683 1,272,618 974,901Other long-term liabilities 1,038,078 983,200 1,117,413 1,058,342Total liabilities 33,426,339 32,854,387 35,980,989 35,365,325 Commitments and contingencies (Note 19)Shareholders' equityCapital stock (Note 20)Common stock 778,047 778,047 837,510 837,510Preferred stock 119,467 119,467 128,597 128,597Capital surplus 6,364,604 6,338,460 6,851,027 6,822,885Retained earnings (Note 21) 44,463,683 37,369,265 47,861,876 40,225,258(Net income of £U7,926,087 million in2006 and £U7,640,092 million in 2005)Capital adjustmentsTreasury stock (Note 23) (7,520,023) (5,970,778) (8,094,750) (6,427,102)Others (Note 24) 1,058,633 1,073,065 1,139,541 1,155,076Minority interests 2,675,456 1,899,885 2,879,931 2,045,086Total shareholders' equity 47,939,867 41,607,411 51,603,732 44,787,310Total liabilities & shareholders' equity 81,366,206 74,461,798 $ 87,584,721 $ 80,152,635 The accompanying notes are an integral part of these consolidated financialstatements. Samsung Electronics Co., Ltd. and SubsidiariesConsolidated Statements of IncomeFor the years ended December 31, 2006 and 2005 (In millions of Korean won and in thousands of U.S. dollars (Note 3)) 2006 2005 2006 2005 KRW KRWSales (Note 28) 85,425,626 80,629,510 $ 91,954,388 $ 86,791,722 Cost of sales (Note 28) 59,652,262 55,251,655 64,211,262 59,474,333 Gross profit 25,773,364 25,377,855 27,743,126 27,317,389 Selling, general and administrative 16,765,553 17,802,357 18,046,881 19,162,924expenses Operating profit 9,007,811 7,575,498 9,696,245 8,154,465 Non-operating incomeInterest and dividend income 396,742 320,709 427,064 345,220Foreign exchange gains 1,333,220 1,190,611 1,435,113 1,281,605Gain on foreign currency translation 214,686 144,465 231,094 155,506 (Note 30)Gain on valuation of equity method 551,057 491,405 593,172 528,961investments (Note 10)Reversal of impairment losses on 92,211 - 99,258 -investmentsOthers 822,300 872,666 885,144 939,361 3,410,216 3,019,856 3,670,845 3,250,653 Non-operating expensesInterest expenses 294,449 218,233 316,953 234,912Foreign exchange losses 1,257,270 1,124,380 1,353,358 1,210,312Loss on foreign currency translation 109,494 117,571 117,862 126,557 (Note 30)Loss on valuation of equity method 31,396 149,656 33,795 161,094investments (Note 10)Impairment losses on investments 14,499 172,145 15,607 185,301Others 883,273 688,056 950,779 740,642 2,590,381 2,470,041 2,788,354 2,658,818 (In millions of Korean won and in thousands of U.S. dollars (Note 3)) 2006 2005 2006 2005 KRW KRWIncome before income tax and minority 9,827,646 8,125,313 $ 10,578,736 $ 8,746,300interests Income tax (Note 26) 1,633,987 1,218,246 1,758,866 1,311,352Income before minority interests 8,193,659 6,907,067 8,819,870 7,434,948Minority interests in losses of (267,572) 733,025 (288,022) 789,047consolidated subsidiaries, netNet income 7,926,087 7,640,092 $ 8,531,848 $ 8,223,995 Basic earnings per share (Note 27) 52,880 49,969 $ 56,921 $ 53,788 (in Korean won and U.S. dollars) Diluted earnings per share (Note 27) (in 52,120 49,128 $ 56,103 $ 52,883Korean won and U.S. dollars) The accompanying notes are an integral part of these consolidated financialstatements. Samsung Electronics Co., Ltd. and SubsidiariesConsolidated Statements of Changes in Shareholders' EquityFor the years ended December 31, 2006 and 2005 Follow the link below to view the Consolidated Statements of Changes in Shareholders' Equity tables http://www.rns-pdf.londonstockexchange.com/rns/4912x_-2007-5-31.pdf The accompanying notes are an integral part of these consolidated financialstatements. Samsung Electronics Co., Ltd. and SubsidiariesConsolidated Statements of Cash FlowsFor the years ended December 31, 2006 and 2005 (In millions of Korean won and in thousands of U.S. dollars (Note 3)) 2006 2005 2006 2005 Cash flows from operating activities KRW KRWNet income 7,926,087 7,640,092 $ 8,531,848 $ 8,223,996Adjustments to reconcile net income tonet cash provided by operating activitiesDepreciation and amortization 6,872,793 6,020,371 7,398,055 6,480,485Provision for severance benefits 522,926 457,387 562,891 492,343Loss on transfer of trade accounts and 269,450 205,501 290,043 221,207notes receivableBad debt expenses 281,826 2,008,662 303,365 2,162,177Compensation cost for stock options 16,470 59,439 17,729 63,982Loss on foreign currency translation 109,494 117,571 117,862 126,557Gain on foreign currency translation (214,686) (144,465) (231,094) (155,506)Minority interest in earnings of 267,572 (733,025) 288,022 (789,047)consolidated subsidiaries, netLoss on valuation of equity-method 31,396 149,656 33,795 161,094investmentsGain on valuation to equity-method (340,893) (491,405) (366,946) (528,961)investmentsImpairment losses on investments 14,499 172,145 15,607 185,301Deferred income taxes 115,565 (354,826) 124,397 (381,944)Other 540,972 527,228 582,317 567,521 16,413,471 15,634,331 17,667,891 16,829,205 Changes in operating assets andliabilitiesIncrease in trade accounts and notes (2,409,893) (1,966,662) (2,594,072) (2,116,967)receivablesIncrease in inventories (1,336,430) (637,044) (1,438,568) (685,731)Increase in trade accounts and notes 882,643 696,002 950,100 749,195payableIncrease in accrued expenses 713,322 824,899 767,839 887,943Increase (Decrease) in income taxes 308,838 (655,197) 332,441 (705,271)payablePayment of severance benefits (184,845) (179,363) (198,972) (193,071)Decrease(Increase) in financing 628,275 (783,639) 676,292 (843,530)receivablesIncrease in long-term advance received 31 507,310 33 546,082Increase in long-term accrued expenses 139,471 134,974 150,130 145,290Others (74,284) (247,045) (79,961) (265,926)Net cash provided by operating activities 15,080,599 13,328,566 16,233,153 14,347,219 (In millions of Korean won and in thousands of U.S. dollars (Note 3)) 2006 2005 2006 2005 Cash flows from investing activities KRW KRWNet increase in short-term financial 564,016 912,019 $ 607,122 $ 981,721instrumentsProceeds from sale of short-term 3,718,317 3,734,545 4,002,494 4,019,962available-for-sale securitiesAcquisition of short-term (3,718,158) (3,148,892) (4,002,323) (3,389,550)available-for-sale securitiesNet increase in other accounts and notes (93,219) (53,147) (100,343) (57,209)receivableProceeds from disposal of property, plant 344,797 244,961 371,149 263,682and equipmentAcquisition of property, plant and (11,738,291) (11,540,225) (12,635,405) (12,422,201)equipmentProceeds from sale of long-term 22,625 69,750 24,354 75,081available-for-sale securitiesProceeds from sale of long-term 75,211 662,071 80,959 712,671held-to-maturity securitiesProceeds from sale of equity-method 23,073 279,041 24,836 300,367investmentsAcquisition of long-term (34,226) (60,564) (36,842) (65,193)available-for-sale securitiesAcquisition of long-term held-to-maturity - (134,822) - (145,126)securitiesAcquisition of equity-method investments (142,904) (46,362) (153,826) (49,905)Others (118,948) 36,043 (128,038) 38,798Net cash used in investing activities (11,097,707) (9,045,582) (11,945,863) (9,736,902) Cash flows from financing activitiesNet proceeds from (repayment of) (545,201) 815,328 (586,869) 877,640short-term borrowingsProceeds from long-term debts 3,086,201 3,350,653 3,322,068 3,606,731Repayment of long-term debts (277,859) (76,378) (299,095) (82,215)Repayment of current maturities of (4,183,020) (5,231,209) (4,502,713) (5,631,011)long-term debtsPayment of dividends (831,789) (849,364) (895,360) (914,278)Acquisition of treasury stock (1,812,879) (2,149,370) (1,951,431) (2,313,638)Others 675,317 873,856 726,931 940,642Net cash used in financing activities (3,889,230) (3,266,484) (4,186,469) (3,516,129) (In millions of Korean won and in thousands of U.S. dollars (Note 3)) 2006 2005 2006 2005 KRW KRWEffect of exchange rate changes on cash 30,125 (69,574) $ 32,427 $ (74,892)and cash equivalentsNet increase in cash and cash equivalents 15,423 6,277 16,602 6,757from changes in consolidated subsidiariesNet increase in cash and cash equivalents 139,210 953,203 149,850 1,026,053 Cash and cash equivalentsBeginning of year 4,082,817 3,129,614 4,394,851 3,368,798End of the year 4,222,027 4,082,817 $ 4,544,701 $ 4,394,851 The accompanying notes are an integral part of these consolidated financialstatements. See Report of Independent Accountants For a detailed information of our 2006 consolidated financial statement, Please refer to the following link : http://www.samsung.com/ir END This information is provided by RNS The company news service from the London Stock Exchange