7. Accounts and Other Receivables
(1) Accounts and other receivables as of December 31, 2017, 2016 and January 1, 2016 are as follows:
|
|
|
December 31, 2017 |
|
|
December 31, 2016 |
|
|
January 1, 2016 |
|
||||||
|
|
|
(In millions of Korean won) |
|
||||||||||||
|
Accounts receivables |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-related party |
|
|
|
41,516 |
|
|
|
|
10,865 |
|
|
|
|
4,191 |
|
|
Related party |
|
|
|
775 |
|
|
|
|
1,080 |
|
|
|
|
1,223 |
|
|
Deduction : Allowance for doubtful receivables |
|
|
|
(123 |
) |
|
|
|
(126 |
) |
|
|
|
(125 |
) |
|
Total |
|
|
|
42,168 |
|
|
|
|
11,819 |
|
|
|
|
5,289 |
|
|
|
|
December 31, 2017 |
|
|
December 31, 2016 |
|
|
January 1, 2016 |
|
||||||
|
|
|
(In millions of Korean won) |
|
||||||||||||
|
Other receivables |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-related party |
|
|
|
744 |
|
|
|
|
755 |
|
|
|
|
207 |
|
|
Related party |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
Deduction : Allowance for doubtful receivables |
|
|
|
(46 |
) |
|
|
|
(45 |
) |
|
|
|
(47 |
) |
|
Total |
|
|
|
698 |
|
|
|
|
710 |
|
|
|
|
160 |
|
The above accounts and other receivables are classified as loans and receivables, and are measured at amortized cost.
(2) Aging analysis of accounts and other receivables as of December 31, 2017, 2016 and January 1, 2016 are as follows
|
|
|
December 31, 2017 |
|
|
December 31, 2016 |
|
|
January 1, 2016 |
|
||||||
|
|
|
(In millions of Korean won) |
|
||||||||||||
|
Accounts receivables |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Receivables not past due |
|
|
|
42,146 |
|
|
|
|
11,797 |
|
|
|
|
5,267 |
|
|
Past due but not impaired |
|
|
|
22 |
|
|
|
|
22 |
|
|
|
|
22 |
|
|
Impaired |
|
|
|
123 |
|
|
|
|
126 |
|
|
|
|
125 |
|
|
Total |
|
|
|
42,291 |
|
|
|
|
11,945 |
|
|
|
|
5,414 |
|
|
|
|
December 31, 2017 |
|
|
December 31, 2016 |
|
|
January 1, 2016 |
|
||||||
|
|
|
(In millions of Korean won) |
|
||||||||||||
|
Other receivables |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Receivables not past due |
|
|
|
698 |
|
|
|
|
710 |
|
|
|
|
160 |
|
|
Past due but not impaired |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
— |
|
|
Impaired |
|
|
|
46 |
|
|
|
|
45 |
|
|
|
|
47 |
|
|
Total |
|
|
|
744 |
|
|
|
|
755 |
|
|
|
|
207 |
|
The Company calculates recoverable amount of receivables for which loss event has been individually identified through individual analysis and recognizes the difference between such calculated recoverable amount and book value as impairment loss.
As for the receivables for which loss event has not been individually identified, the Company makes adjustments to provision for impairment by applying certain specified rate in consideration of the credit risk based on the overdue period.
(3) Changes in allowance for doubtful accounts for the years ended December 31, 2017 and 2016 are as follows
|
Accounts receivables |
|
2017 |
|
|
2016 |
|
||||
|
|
|
(In millions of Korean won) |
|
|||||||
|
Beginning of the year |
|
|
|
126 |
|
|
|
|
125 |
|
|
(Reversal of) Bad debt expenses |
|
|
|
(3 |
) |
|
|
|
1 |
|
|
Write-off |
|
|
|
— |
|
|
|
|
— |
|
|
End of the year |
|
|
|
123 |
|
|
|
|
126 |
|
|
Other receivables |
|
2017 |
|
|
2016 |
|
||||
|
|
|
(In millions of Korean won) |
|
|||||||
|
Beginning of the year |
|
|
|
45 |
|
|
|
|
47 |
|
|
(Reversal of) Bad debt expenses |
|
|
|
1 |
|
|
|
|
(2 |
) |
|
Write-off |
|
|
|
— |
|
|
|
|
— |
|
|
End of the year |
|
|
|
46 |
|
|
|
|
45 |
|
In assessing the recoverability of accounts receivables, the Company considers changes in the credit rating of accounts receivables from the commencement of the credit to the end of the reporting period.