Samsung El.gdr Regulatory News (SMSN)

17 Apr 2008 07:00

Samsung Electronics Co. Ld17 April 2008 Samsung Electronics Co., Ltd. Non-Consolidated Balance Sheets December 31, 2007 and 2006 (In millions of Korean won, in thousands of U.S. dollars (Note 3)) 2007 2006 2007 2006 AssetsCurrent assets KRW KRW USD USDCash and cash equivalents 2,026,791 977,989 2,160,758 1,042,632Short-term financial instruments (Note 4,862,869 3,335,141 5,184,295 3,555,5874)Short-term available-for-sale 922,833 2,058,781 983,830 2,194,862securities (Note 5)Trade accounts and notes receivable, 1,780,507 1,842,439 1,898,195 1,964,221net of allowance for doubtful accounts(Note 6)Other accounts and notes receivable, 813,723 864,669 867,509 921,822net of allowance for doubtful accounts(Note 6)Inventories, net of valuation losses 3,337,872 3,219,474 3,558,499 3,432,275(Note 7)Short-term deferred income tax assets 1,241,636 1,155,410 1,323,706 1,231,780(Note 24)Short-term lease receivables under 112,295 69,348 119,717 73,932finance leaseAdvanced payments 859,713 551,479 916,538 587,931Prepaid expenses 407,082 400,824 433,989 427,318Other current assets 255,760 238,603 272,667 254,375Total current assets 16,621,081 14,714,157 17,719,703 15,686,735 Property, plant and equipment, 29,777,382 28,820,442 31,745,610 30,725,418including revaluations, net ofaccumulated depreciation (Note 11)Long-term available-for-sale 1,936,176 1,148,944 2,064,154 1,224,887securities (Note 9)Equity-method investments (Note 10) 15,008,462 11,265,083 16,000,493 12,009,683Intangible assets, net of accumulated 568,316 522,378 605,881 556,906amortization (Note 12)Long-term lease receivables under 245,410 154,140 261,631 164,328finance leaseLong-term deposits and other assets, 1,068,425 1,183,984 1,139,044 1,262,244net (Note 13)Total assets 65,225,252 57,809,128 69,536,516 61,630,201 2007 2006 2007 2006 KRW KRW USD USDLiabilities and Shareholders'EquityCurrent liabilitiesTrade accounts and notes payable 1,935,663 1,869,101 2,063,607 1,992,645Other accounts and notes payable 2,958,521 3,291,797 3,154,074 3,509,378Accrued expenses (Note 16) 4,071,144 2,873,148 4,340,239 3,063,058Income taxes payable 1,114,048 1,111,233 1,187,684 1,184,683Other current liabilities 722,970 489,736 770,757 522,107Total current liabilities 10,802,346 9,635,015 11,516,361 10,271,871 Foreign currency notes and bonds, 83,815 87,317 89,355 93,088net of current portion (Note 14)Long-term advances received 168,650 340,033 179,797 362,509Long-term accrued expenses (Note 16) 39,174 274,527 41,763 292,673Deferred income tax liabilities (Note 24) 1,508,449 1,221,815 1,608,155 1,302,575Accrued severance benefits, net (Note 15) 623,147 620,469 664,336 661,481Other long-term liabilities 439,047 432,368 468,067 460,946Total liabilities 13,664,628 12,611,544 14,567,834 13,445,143 Commitments and contingencies (Note 17) 2007 2006 2007 2006 KRW KRW USD USDShareholders' equityCapital stock (Note 18)Common stock 778,047 778,047 829,474 829,474Preferred stock 119,467 119,467 127,364 127,364Capital surplusPaid-in capital in excess of par 4,403,893 4,403,893 4,694,982 4,694,982valueOther capital surplus 1,959,640 1,963,351 2,089,168 2,093,125Capital adjustmentsTreasury stock (Note 21) (9,157,492) (7,520,023) (9,762,785) (8,017,082)Stock options 475,197 539,153 506,607 574,790Accumulated other comprehensive 2,019,195 556,924 2,152,660 593,735income (Note 23)Retained earnings (Note 19) 50,962,677 44,356,772 54,331,212 47,288,670Total shareholders' equity 51,560,624 45,197,584 54,968,682 48,185,058Total liabilities & shareholders' 65,225,252 57,809,128 69,536,516 61,630,201equity Samsung Electronics Co., Ltd. Non-Consolidated Statements of Income For the years ended December 31, 2007 and 2006 (In millions of Korean won, in thousands of U.S. dollars (Note 3)) 2007 2006 2007 2006 KRW KRW USD USDSales (Note 27) 63,175,968 58,972,765 67,351,778 62,870,752Cost of sales 46,846,546 42,359,753 49,943,013 45,159,652 Gross profit 16,329,422 16,613,012 17,408,765 17,711,100 Selling, general and 10,386,567 9,679,079 11,073,099 10,318,847administrative expenses Operating profit 5,942,855 6,933,933 6,335,666 7,392,253 Non-operating incomeInterest and dividend income 292,983 257,417 312,349 274,432Commission income 339,496 315,172 361,936 336,004Gain on disposal of 38,511 58,980 41,057 62,878available-for-sale securitiesGain on disposal of property, 101,605 78,636 108,321 83,834plant and equipmentForeign exchange gains 347,061 403,701 370,001 430,385Gain on foreign currency 48,573 124,998 51,784 133,260translation (Note 29)Gain on valuation of equity-method 2,627,165 1,798,505 2,800,816 1,917,383investments (Note 10)Others 366,690 372,013 390,926 396,602 4,162,084 3,409,422 4,437,190 3,634,778Non-operating expensesInterest expenses 47,829 48,877 50,990 52,108Loss on disposal of trade accounts 284,204 253,740 302,989 270,512and notes receivableDonations 182,565 175,249 194,632 186,833Loss on disposal of 1,754 3,691 1,870 3,935available-for-sale securitiesLoss on disposal of equity method 26,653 - 28,415 -investmentsLoss on disposal of property, 55,685 37,876 59,366 40,380plant and equipmentForeign exchange losses 457,020 391,831 487,228 417,730Loss on foreign currency 46,048 28,988 49,092 30,904translation (Note 29)Loss on valuation of equity-method 262,284 92,553 279,620 98,671investments (Note 10)Others 110,893 94,353 118,223 100,588 1,474,935 1,127,158 1,572,425 1,201,661Net income before income tax 8,630,004 9,216,197 9,200,431 9,825,370 Income tax expense (Note 24) 1,204,988 1,299,706 1,284,636 1,385,614 Net income 7,425,016 7,916,491 7,915,795 8,439,756 Basic earnings per share (Note 25) 49,532 52,816 53 56(in Korean won and U.S. dollars) Diluted earnings per share 48,954 52,057 52 55(Note 25) (in Korean won and U.S.dollars) Samsung Electronics Co., Ltd.Non-Consolidated Statements of Appropriations of Retained EarningsFor the years ended December 31, 2007 and 2006Date of appropriations : March 28, 2008 and February 28, 2007(In millions of Korean won, in thousands of U.S. dollars (Note 3)) 2007 2006 2007 2006 KRW KRW USD USDRetained earnings before appropriationsUnappropriated retained earnings (103,386) 30 (110,220) 32carried over from the prior yearCumulative effects of restatements - (93,821) - (100,022)Interim dividends (Note 20) (Dividend (73,036) (74,386) (77,863) (79,303)rate: 10% in 2007 and 2006)Net income 7,425,016 7,916,491 7,915,795 8,439,756 7,248,594 7,748,314 7,727,712 8,260,463Appropriations (Note 19)Reserve for business rationalization 1,000,000 1,000,000 1,066,098 1,066,098Reserve for research and human resource 4,000,000 4,000,000 4,264,392 4,264,392developmentCash dividends (Note 20) 1,098,099 746,075 1,170,681 795,390(Common stock: 150% in 2007 and 100% in2006)(Preferred stock: 151% in 2007 and 101%in 2006)Reserve for loss on disposal of 550,000 550,000 586,354 586,354treasury stockReserve for capital expenditure 600,465 1,555,625 640,155 1,658,449 7,248,564 7,851,700 7,727,680 8,370,683Unappropriated retained earnings 30 (103,386) 32 (110,220)carried over to the subsequent year Samsung Electronics Co., Ltd. Non-Consolidated Statement of Changes in Shareholders! Equity For the year ended December 31, 2007 (In millions of Korean won (Note 3)) Capital Capital Capital Accumulated Retained Total stock surplus adjustments other earnings comprehensive income KRW KRW KRW KRWShareholders! equity, January 1, 897,514 6,367,244 (6,980,870) 516,520 44,460,189 45,260,5972007Cumulative effects of restatements - - - 40,404 (103,417) (63,013)(Note 24)Restated beginning balance 897,514 6,367,244 (6,980,870) 556,924 44,356,772 45,197,584Cash dividends from prior year!s - - - - (746,075) (746,075)net incomeRetained earnings after - - - - 43,610,697 44,451,509appropriationsCash dividends from current year's - - - - (73,036) (73,036)net incomeIncome tax effect due to disposal - (136) - - - (136)of revaluated assetsAcqusition of treasury stock - - (1,825,395) - - (1,825,395)Disposal of treasury stock - (5,978) 187,925 - - 181,947Stock options - 2,403 (63,955) - - (61,552)Gain on valuation of - - - 572,873 - 572,873available-for-salesecuritiesLoss on valuation of - - - 1,233 - 1,233available-for-salesecuritiesGain on valuation of equity-method - - - 620,935 - 620,935 investmentsLoss on valuation of equity-method - - - 267,230 - 267,230 investmentsNet income - - - - 7,425,016 7,425,016Shareholders'equity December 31, 897,514 6,363,533 (8,682,295) 2,019,195 50,962,677 51,560,6242007 (In thousands of U.S. dollars (Note 3)) Capital Capital Capital Accumulated Retained Total stock surplus adjustments other earnings comprehensive income USD USD USD USD USD USDShareholders! equity, January 1, 956,838 6,788,107 (7,442,292) 550,660 47,398,923 48,252,2362007 Cumulative effects of restatements - - - 43,075 (110,253) (67,178)(Note 24)Restated beginning balance 956,838 6,788,107 (7,442,292) 593,735 47,288,670 48,185,058Cash dividends from prior year!s - - - - (795,390) (795,390)net incomeRetained earnings after - - - - 46,493,280 47,389,668appropriationsCash dividends from current year!s - - - - (77,863) (77,863)net incomeIncome tax effect due to disposal - (145) - - - (145)of revaluated assetsAcqusition of treasury stock - - (1,946,050) - - (1,946,050)Disposal of treasury stock - (6,374) 200,346 - - 193,972 Stock options - 2,562 (68,182) - - (65,620)Gain on valuation of - - - 610,739 - 610,739available-for-sale securitiesLoss on valuation of - - - 1,314 - 1,314available-for-sale securitiesGain on valuation of equity-method - - - 661,978 - 661,978 investmentsLoss on valuation of equity-method - - - 284,894 - 284,894 investmentsNet income - - - - 7,915,795 7,915,795Shareholders' equity December 31, 956,838 6,784,150 (9,256,178) 2,152,660 54,331,212 54,968,6822007 Samsung Electronics Co., Ltd. Non-Consolidated Statements of Cash Flows For the years ended December 31, 2007 and 2006 (In millions of Korean won, in thousands of U.S. dollars (Note 3)) 2007 2006 2007 2006Cash flows from operating activities KRW KRW USD USDNet income 7,425,016 7,916,491 7,915,795 8,439,756 Adjustments to reconcile net income tonet cash provided by operatingactivitiesDepreciation and amortization 7,056,791 5,680,609 7,523,231 6,056,086Provision for severance benefits 516,099 447,360 550,212 476,930Loss on disposal of trade accounts and 284,204 253,740 302,989 270,512notes receivableBad debt expenses 3,961 9,110 4,223 9,712Loss on disposal of property, plant 55,685 37,876 59,366 40,380and equipmentGain on disposal of property, plant (101,605) (78,636) (108,321) (83,834)and equipmentLoss on disposal of available-for-sale 1,754 3,691 1,870 3,935securitiesGain on disposal of available-for-sale (38,511) (58,980) (41,057) (62,878)securitiesLoss on foreign currency translation 46,048 28,988 49,092 30,904Gain on foreign currency translation (48,359) (124,989) (51,555) (133,251)Loss on valuation of equity-method 262,284 92,553 279,620 98,671investmentsGain on valuation of equity-method (1,836,752) (1,440,674) (1,958,158) (1,535,900)investmentsDeferred income taxes (118,526) (1,275) (126,360) (1,359)Others 262,969 223,790 280,352 238,581 13,771,058 12,989,654 14,681,299 13,848,245Changes in operating assets andliabilitiesIncrease in trade accounts and notes (215,833) (616,437) (230,099) (657,182)receivableDecrease (increase) in other accounts 56,647 (25,162) 60,391 (26,825)and notes receivableIncrease in inventories (365,950) (517,392) (390,139) (551,591)Increase in trade accounts and notes 61,372 526 65,429 561payableIncrease (decrease) in other accounts (528,088) 206,817 (562,994) 220,487and notes payableIncrease in accrued expenses 749,232 428,275 798,755 456,583Increase (decrease) in income taxes (22,575) 316,171 (24,067) 337,069payablePayment of severance benefits (288,015) (143,862) (307,052) (153,371)Others 46,467 235,566 49,538 251,136Net cash provided by operating 13,264,315 12,874,156 14,141,061 13,725,112activities Cash flows from investing activitiesNet decrease (increase) in short-term (1,527,728) 562,790 (1,628,708) 599,989financial instrumentsProceeds from disposal of short-term 3,028,477 3,704,638 3,228,654 3,949,507available-for-sale securitiesAcquisition of short-term (1,842,360) (3,718,158) (1,964,136) (3,963,921)available-for-sale securitiesProceeds from disposal of property, 420,187 311,183 447,961 331,752plant and equipmentAcquisition of property, plant and (8,512,340) (10,078,237) (9,074,989) (10,744,389)equipmentProceeds from disposal of long-term 21,901 3,183 23,349 3,393available-for-sale securitiesProceeds from disposal of 340,303 23,139 362,796 24,668equity-method investmentsAcquisition of long-term (20,755) (18,539) (22,127) (19,764)available-for-sale securitiesAcquisition of equity-method (1,515,318) (1,053,753) (1,615,478) (1,123,404)investmentsOthers (80,722) (217,475) (86,059) (231,849)Net cash used in investing activities (9,688,355) (10,481,229) (10,328,737) (11,174,018) Cash flows from financing activitiesPayment of dividends (819,110) (831,789) (873,252) (886,769)Acquisition of treasury stock (1,825,395) (1,812,880) (1,946,050) (1,932,708)Exercise of stock options 117,347 176,179 125,104 187,825Net cash used in financing activities (2,527,158) (2,468,490) (2,694,198) (2,631,652) Net increase (decrease) in cash and 1,048,802 (75,563) 1,118,126 (80,558)cash equivalents Cash and cash equivalentsBeginning of the year 977,989 1,053,552 1,042,632 1,123,190End of the year 2,026,791 977,989 2,160,758 1,042,632 For a detailed information of our 2007 Non-consolidated financial statement, Please refer to the following link: http://www.samsung.com/ir This information is provided by RNS The company news service from the London Stock Exchange