1999 Annual Report - Delta Electronics

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32 5) Property, plant and equipment Appraisal Accumulated Net Item Original cost increment Total depreciation book value December 31, 1999 Land Buildings and equipment Machinery and equipment Molds Computer and communication equipment Test equipment Motor vehicles Furniture and fixtures Leasehold improvements Prepayments for equipment and construction in progress December 31, 1998 Land Buildings and equipment Machinery and equipment Molds Computer and communication equipment Test equipment Motor vehicles Furniture and fixtures Leasehold improvements Prepayments for equipment and construction in progress A. The appraisal increment of land in property, plant and equipment amounted to $202,232. The reserve for land value incremental tax amounted to $97,283 and the appreciation of assets amounted to $114,714 as of December 31, 1999. B. Total capitalized interest amounted to $1,503 and $3,448 for the years ended December 31, 1999 and 1998, respectively.
33 6) Short-term loans Unsecured bank loans Secured bank loans Materials import loans Credit lines Interest rates per annum 7) Convertible bonds A. First foreign currency Europe convertible bonds Convertible bonds (at par value) Add: Interest payable on redemption Valuation on foreign currency A) On January 23, and February 27, 1997, following the approval from the Securities and Futures Commission (SFC), the Company issued 0.5% (net of tax) convertible bonds in the amount of US$110,000 thousand dollars. These convertible bonds cover a period of seven years and interest is payable annually on December 28 of each year. In accordance with the "Rules Governing Issuance and Conversion of Bonds," the investors may convert the bonds into the Company's common stock from April 6, 1997 to February 6, 2004. The unconverted bonds will be repaid at par value on maturity. The bonds converted to common stocks were US$107,284 thousand dollars and US$64,729 thousand dollars as of December 31, 1999 and 1998, respectively. The conversion price was initially set at $110 (dollars) per share on the issuance date, which was subsequently adjusted for capital increase. As of December 31, 1999 and 1998, the adjusted conversion prices were NT$63.6 (dollars) and NT$76.4 (dollars) per share, respectively. The investors may require the Company to redeem the bonds for cash at 137.39% of the bonds principal amount from March 6, 2002. B) The difference between the redemption price and the par value of bonds, recognized by the Company as interest expense and Interest Payable on Redemption, using the effective interest method in 1999 and 1998 were $76,112 and $138,584, respectively. B. Second foreign currency Europe convertible bonds Convertible bonds (at par value) Add: Interest payable on redemption Valuation on foreign currency December 31, 1999 1998 December 31, 1999 1998 December 31, 1999 1998 A) On January 13 1999, following the approval from the SFC, the Company issued 1% (net of tax) convertible bonds in the amount of US$100,000 thousand dollars. These convertible bonds cover a period of seven years and interest is payable annually on December 28 of each year. In accordance with the "Rules Governing Issuance and Conversion of Bonds," the investors may convert the bonds into the Company's common stock from March 23, 1999 to January 23, 2006. The unconverted bonds will be repaid at par value on maturity. The bonds converted to common stock were US$97,780 thousand dollars as of December 31, 1999.
Page 1 and 2: DELTA ELECTRONICS, INC. Annual Repo
Page 3 and 4: 3 1999 Annual Report Message from t
Page 5 and 6: 7 1999 Annual Report Major Products
Page 7 and 8: 11 1999 Annual Report Manufacturing
Page 10 and 11: 17 1999 Annual Report Financial Sta
Page 12 and 13: DELTA ELECTRONICS, INC. CONSOLIDATE
Page 14 and 15: DELTA ELECTRONICS, INC. CONSOLIDATE
Page 16 and 17: DELTA ELECTRONICS, INC. NOTES TO CO
Page 18 and 19: Inventories Inventories are stated
Page 20 and 21: transition is amortized equally ove
Page 22 and 23: December 31, 1999 December 31, 1998
Page 26 and 27: The initial conversion price, which
Page 28 and 29: 13) Legal reserve The R.O.C Company
Page 30 and 31: payment of the final tax assessment
Page 32 and 33: G. Accounts payable DET DEJ Others
Page 34 and 35: short-term loan, accounts payable,
Page 36 and 37: When the contracts mature, there wi
Page 38 and 39: 46 11. DISCLOSURE OF INFORMATION ON
Page 40 and 41: 48 12. Disclosure information of in
Page 42 and 43: 50 D. Marketable securities acquire
Page 44 and 45: 52 H. Receivable from related parti
Page 46 and 47: 13. SEGMENTAL FINANCIAL INFORMATION
Page 48 and 49: February 23, 2000 (00)R.D24P.4057 T
Page 50 and 51: DELTA ELECTRONICS, INC. STATEMENT O
Page 52 and 53: DELTA ELECTRONICS, INC. STATEMENT O

1999 Annual Report - Delta Electronics

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