DOOSAN HEAVY INDUSTRIES & CONSTRUCTION CO., LTD. AND ...

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Doosan Heavy Industries & Construction Co., Ltd. and SubsidiariesNotes to the Consolidated Financial StatementsFor the years ended December 31, 2012 and 201123. Retained Earnings(1) Composition of retained earnings(In millions of won) 2012 2011Legal reserve ₩ 94,968 88,268Discretionary reserve 743,561 665,561Unappropriated retained earnings 2,675,767 2,799,461₩ 3,514,296 3,553,290(2) Changes in retained earnings for the years ended December 31, 2012 and 2011 are as follows:(In millions of won) 2012 2011Balance at beginning ₩ 3,553,290 3,471,526Profit for the year 38,045 274,781Payment of dividends (66,773) (67,375)Actuarial losses (9,030) (50,740)Changes in retained earnings of equity method investees (1,236) (74,902)Ending balance ₩ 3,514,296 3,553,290(3) Details of dividends for the years ended December 31, 2012 and 2011 were as follows :(In won, except number of shares) 2012(*1) 2011Dividends ₩ 66,782,821,500 66,773,221,500Number of shares 89,043,762 89,030,962Par value per share 5,000 5,000Dividends to capital stock rate 15.00% 15.00%Dividends per share ₩ 750 750(*1) Represents the amount proposed prior to the date of authorization of issuance of financial statements,and not recognized as appropriations of retained earnings on the financial statements as of the reportingdate.The Controlling Company paid ₩ 66,773 million of dividends for the year ended December 31, 2011 duringApril of 2012, and dividends for the year ended December 31, 2012 are expected to be paid during April of2013 (₩ 67,375 million was paid in 2011).(4) Pay-out ratio and dividend yield ratio for the years ended December 31, 2012 and 2011 were as follows:Pay-out ratio (dividends/profit for the year attributable to theControlling Company)Dividend yield ratio (dividends per share / Share price at thereporting date)2012 2011175.54% 24.30%1.66% 1.15%66
Doosan Heavy Industries & Construction Co., Ltd. and SubsidiariesNotes to the Consolidated Financial StatementsFor the years ended December 31, 2012 and 201124. Operating SegmentsThe Group’ operating segments are as follows:Operating segmentPower generationWaterIndustrial plantsCastings & forgingsConstructionWholesale and retailMain products and servicesPower Plants, Power Generation Equipment, Retrofits & UpgradesSeawater Desalination Plants, Water Treatment SystemsContainer Handling Cranes, Bulk Material Handling Systems and VariousSpecial CranesPower Generation Components, Shipbuilding Components, Iron & SteelMaking Components, Mold & Tool Steel and Petrochemical & IndustrialComponentsPlant, Civil Engineering, ArchitectureWholesale and retail(1) Operating segments information as of and for the years ended December 31, 2012 and 2011 aresummarized as follows:(i) 2012(In millions of won)GrosssalesIntersegmentsalesExternalSalesOperatingincome(loss)Profit(Loss)Power plants ₩ 7,911,288 (543,148) 7,368,140 612,774 (21,666)Water plants 946,594 (19,227) 927,367 27,972 (79,621)Industrial plants 162,482 - 162,482 (34,048) (61,008)Castings & forgings business 653,524 (86,921) 566,603 27,183 (18,453)Construction business 602,092 - 602,092 (42,553) (92,716)Wholesale and retail business 7,890 (7,390) 500 985 915Subtotal 10,283,870 (656,686) 9,627,184 592,313 (272,549)Adjustment for consolidation (656,686) 656,686 - 2,526 287,281Balance after consolidation ₩ 9,627,184 - 9,627,184 594,839 14,732(ii) 2011(In millions of won)GrosssalesIntersegmentsalesExternalsalesOperatingincome(loss)Profit(Loss)Power plants ₩ 6,379,717 (429,495) 5,950,222 422,884 256,957Water plants 813,234 (6,586) 806,648 26,449 46Industrial plants 171,109 - 171,109 (39,981) (51,651)Castings & forgings business 743,595 (118,422) 625,173 73,617 48,006Construction business 1,018,673 (77,081) 941,592 39,065 3,636Wholesale and retail business 7,167 (6,405) 762 773 484Subtotal 9,133,495 (637,989) 8,495,506 522,807 257,478Adjustment for consolidation (637,989) 637,989 - 3,350 4,217Balance after consolidation ₩ 8,495,506 - 8,495,506 526,157 261,69567
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