Samsung Electronics - 2007 Non-Con Financial Stmnt

RNS Number:5275S
Samsung Electronics Co. Ld
17 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

Assets
Current assets KRW KRW USD USD
Cash and cash equivalents 2,026,791 977,989 2,160,758 1,042,632
Short-term financial instruments (Note 4,862,869 3,335,141 5,184,295 3,555,587
4)
Short-term available-for-sale 922,833 2,058,781 983,830 2,194,862
securities (Note 5)
Trade accounts and notes receivable, 1,780,507 1,842,439 1,898,195 1,964,221
net of allowance for doubtful accounts
(Note 6)
Other accounts and notes receivable, 813,723 864,669 867,509 921,822
net 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 73,932
finance lease
Advanced payments 859,713 551,479 916,538 587,931
Prepaid expenses 407,082 400,824 433,989 427,318
Other current assets 255,760 238,603 272,667 254,375
Total 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 30,725,418
including revaluations, net of
accumulated depreciation (Note 11)
Long-term available-for-sale 1,936,176 1,148,944 2,064,154 1,224,887
securities (Note 9)
Equity-method investments (Note 10) 15,008,462 11,265,083 16,000,493 12,009,683
Intangible assets, net of accumulated 568,316 522,378 605,881 556,906
amortization (Note 12)
Long-term lease receivables under 245,410 154,140 261,631 164,328
finance lease
Long-term deposits and other assets, 1,068,425 1,183,984 1,139,044 1,262,244
net (Note 13)
Total assets 65,225,252 57,809,128 69,536,516 61,630,201

2007 2006 2007 2006
KRW KRW USD USD
Liabilities and Shareholders'
Equity
Current liabilities
Trade accounts and notes payable 1,935,663 1,869,101 2,063,607 1,992,645
Other accounts and notes payable 2,958,521 3,291,797 3,154,074 3,509,378
Accrued expenses (Note 16) 4,071,144 2,873,148 4,340,239 3,063,058
Income taxes payable 1,114,048 1,111,233 1,187,684 1,184,683
Other current liabilities 722,970 489,736 770,757 522,107
Total 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 93,088
net of current portion (Note 14)
Long-term advances received 168,650 340,033 179,797 362,509
Long-term accrued expenses (Note 16) 39,174 274,527 41,763 292,673
Deferred income tax liabilities (Note 24) 1,508,449 1,221,815 1,608,155 1,302,575
Accrued severance benefits, net (Note 15) 623,147 620,469 664,336 661,481
Other long-term liabilities 439,047 432,368 468,067 460,946
Total 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 USD
Shareholders' equity
Capital stock (Note 18)
Common stock 778,047 778,047 829,474 829,474
Preferred stock 119,467 119,467 127,364 127,364
Capital surplus
Paid-in capital in excess of par 4,403,893 4,403,893 4,694,982 4,694,982
value
Other capital surplus 1,959,640 1,963,351 2,089,168 2,093,125
Capital adjustments
Treasury stock (Note 21) (9,157,492) (7,520,023) (9,762,785) (8,017,082)
Stock options 475,197 539,153 506,607 574,790
Accumulated other comprehensive 2,019,195 556,924 2,152,660 593,735
income (Note 23)
Retained earnings (Note 19) 50,962,677 44,356,772 54,331,212 47,288,670
Total shareholders' equity 51,560,624 45,197,584 54,968,682 48,185,058
Total liabilities & shareholders' 65,225,252 57,809,128 69,536,516 61,630,201
equity

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 USD
Sales (Note 27) 63,175,968 58,972,765 67,351,778 62,870,752
Cost 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 10,318,847
administrative expenses

Operating profit 5,942,855 6,933,933 6,335,666 7,392,253

Non-operating income
Interest and dividend income 292,983 257,417 312,349 274,432
Commission income 339,496 315,172 361,936 336,004
Gain on disposal of 38,511 58,980 41,057 62,878
available-for-sale securities
Gain on disposal of property, 101,605 78,636 108,321 83,834
plant and equipment
Foreign exchange gains 347,061 403,701 370,001 430,385
Gain on foreign currency 48,573 124,998 51,784 133,260
translation (Note 29)
Gain on valuation of equity-method 2,627,165 1,798,505 2,800,816 1,917,383
investments (Note 10)
Others 366,690 372,013 390,926 396,602
4,162,084 3,409,422 4,437,190 3,634,778
Non-operating expenses
Interest expenses 47,829 48,877 50,990 52,108
Loss on disposal of trade accounts 284,204 253,740 302,989 270,512
and notes receivable
Donations 182,565 175,249 194,632 186,833
Loss on disposal of 1,754 3,691 1,870 3,935
available-for-sale securities
Loss on disposal of equity method 26,653 - 28,415 -
investments
Loss on disposal of property, 55,685 37,876 59,366 40,380
plant and equipment
Foreign exchange losses 457,020 391,831 487,228 417,730
Loss on foreign currency 46,048 28,988 49,092 30,904
translation (Note 29)
Loss on valuation of equity-method 262,284 92,553 279,620 98,671
investments (Note 10)
Others 110,893 94,353 118,223 100,588
1,474,935 1,127,158 1,572,425 1,201,661
Net 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 Earnings
For the years ended December 31, 2007 and 2006
Date 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 USD
Retained earnings before appropriations
Unappropriated retained earnings (103,386) 30 (110,220) 32
carried over from the prior year
Cumulative 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 8,260,463
Appropriations (Note 19)
Reserve for business rationalization 1,000,000 1,000,000 1,066,098 1,066,098
Reserve for research and human resource 4,000,000 4,000,000 4,264,392 4,264,392
development
Cash dividends (Note 20) 1,098,099 746,075 1,170,681 795,390
(Common stock: 150% in 2007 and 100% in
2006)
(Preferred stock: 151% in 2007 and 101%
in 2006)
Reserve for loss on disposal of 550,000 550,000 586,354 586,354
treasury stock
Reserve for capital expenditure 600,465 1,555,625 640,155 1,658,449
7,248,564 7,851,700 7,727,680 8,370,683
Unappropriated 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 KRW
Shareholders! equity, January 1, 897,514 6,367,244 (6,980,870) 516,520 44,460,189 45,260,597
2007
Cumulative 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 45,197,584
Cash dividends from prior year!s - - - - (746,075) (746,075)
net income
Retained earnings after - - - - 43,610,697 44,451,509
appropriations
Cash dividends from current year's - - - - (73,036) (73,036)
net income
Income tax effect due to disposal - (136) - - - (136)
of revaluated assets
Acqusition of treasury stock - - (1,825,395) - - (1,825,395)
Disposal of treasury stock - (5,978) 187,925 - - 181,947
Stock options - 2,403 (63,955) - - (61,552)
Gain on valuation of - - - 572,873 - 572,873
available-for-sale
securities
Loss on valuation of - - - 1,233 - 1,233
available-for-sale
securities
Gain on valuation of equity-method - - - 620,935 - 620,935
investments
Loss on valuation of equity-method - - - 267,230 - 267,230
investments
Net income - - - - 7,425,016 7,425,016
Shareholders'equity December 31, 897,514 6,363,533 (8,682,295) 2,019,195 50,962,677 51,560,624
2007

(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 USD
Shareholders! equity, January 1, 956,838 6,788,107 (7,442,292) 550,660 47,398,923 48,252,236
2007
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 48,185,058
Cash dividends from prior year!s - - - - (795,390) (795,390)
net income
Retained earnings after - - - - 46,493,280 47,389,668
appropriations
Cash dividends from current year!s - - - - (77,863) (77,863)
net income
Income tax effect due to disposal - (145) - - - (145)
of revaluated assets
Acqusition 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 - 610,739
available-for-sale
securities
Loss on valuation of - - - 1,314 - 1,314
available-for-sale
securities
Gain on valuation of equity-method - - - 661,978 - 661,978
investments
Loss on valuation of equity-method - - - 284,894 - 284,894
investments
Net income - - - - 7,915,795 7,915,795
Shareholders' equity December 31, 956,838 6,784,150 (9,256,178) 2,152,660 54,331,212 54,968,682
2007

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 2006
Cash flows from operating activities KRW KRW USD USD
Net income 7,425,016 7,916,491 7,915,795 8,439,756

Adjustments to reconcile net income to
net cash provided by operating
activities
Depreciation and amortization 7,056,791 5,680,609 7,523,231 6,056,086
Provision for severance benefits 516,099 447,360 550,212 476,930
Loss on disposal of trade accounts and 284,204 253,740 302,989 270,512
notes receivable
Bad debt expenses 3,961 9,110 4,223 9,712
Loss on disposal of property, plant 55,685 37,876 59,366 40,380
and equipment
Gain on disposal of property, plant (101,605) (78,636) (108,321) (83,834)
and equipment
Loss on disposal of available-for-sale 1,754 3,691 1,870 3,935
securities
Gain on disposal of available-for-sale (38,511) (58,980) (41,057) (62,878)
securities
Loss on foreign currency translation 46,048 28,988 49,092 30,904
Gain on foreign currency translation (48,359) (124,989) (51,555) (133,251)
Loss on valuation of equity-method 262,284 92,553 279,620 98,671
investments
Gain on valuation of equity-method (1,836,752) (1,440,674) (1,958,158) (1,535,900)
investments
Deferred 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 13,848,245
Changes in operating assets and
liabilities
Increase in trade accounts and notes (215,833) (616,437) (230,099) (657,182)
receivable
Decrease (increase) in other accounts 56,647 (25,162) 60,391 (26,825)
and notes receivable
Increase in inventories (365,950) (517,392) (390,139) (551,591)
Increase in trade accounts and notes 61,372 526 65,429 561
payable
Increase (decrease) in other accounts (528,088) 206,817 (562,994) 220,487
and notes payable
Increase in accrued expenses 749,232 428,275 798,755 456,583
Increase (decrease) in income taxes (22,575) 316,171 (24,067) 337,069
payable
Payment of severance benefits (288,015) (143,862) (307,052) (153,371)
Others 46,467 235,566 49,538 251,136
Net cash provided by operating 13,264,315 12,874,156 14,141,061 13,725,112
activities

Cash flows from investing activities
Net decrease (increase) in short-term (1,527,728) 562,790 (1,628,708) 599,989
financial instruments
Proceeds from disposal of short-term 3,028,477 3,704,638 3,228,654 3,949,507
available-for-sale securities
Acquisition of short-term (1,842,360) (3,718,158) (1,964,136) (3,963,921)
available-for-sale securities
Proceeds from disposal of property, 420,187 311,183 447,961 331,752
plant and equipment
Acquisition of property, plant and (8,512,340) (10,078,237) (9,074,989) (10,744,389)
equipment
Proceeds from disposal of long-term 21,901 3,183 23,349 3,393
available-for-sale securities
Proceeds from disposal of 340,303 23,139 362,796 24,668
equity-method investments
Acquisition of long-term (20,755) (18,539) (22,127) (19,764)
available-for-sale securities
Acquisition of equity-method (1,515,318) (1,053,753) (1,615,478) (1,123,404)
investments
Others (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 activities
Payment 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 117,347 176,179 125,104 187,825
Net 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 equivalents
Beginning of the year 977,989 1,053,552 1,042,632 1,123,190
End 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
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