PDF Consolidated Financial Statements of Samsung Electronics Co ...

CONSOLIDATED FINANCIAL STATEMENTS OF SAMSUNG ELECTRONICS CO., LTD. AND ITS SUBSIDIARIES

INDEX TO FINANCIAL STATEMENTS

Page Independent Auditor's Report................................................................................................. 1 - 2 Consolidated Financial Statements Consolidated Statements of Financial Position........................................................................... 3 - 5 Consolidated Statements of Profit or Loss.................................................................................. 6 Consolidated Statements of Comprehensive Income.................................................................. 7 Consolidated Statements of Changes in Equity.......................................................................... 8 - 11 Consolidated Statements of Cash Flows.................................................................................... 12 - 13 Notes to the Consolidated Financial Statements ...................................................................... 14 - 101

Independent Auditor's Report

(English Translation of a Report Originally Issued in Korean)

To the Board of Directors and Shareholders of Samsung Electronics Co., Ltd.

We have audited the accompanying consolidated financial statements of Samsung Electronics Co., Ltd. and its subsidiaries (collectively referred to as the "Company"), which comprise the consolidated statements of financial position as at December 31, 2017 and 2016, and the consolidated statements of comprehensive income and profit or loss, consolidated statements of changes in equity and consolidated statements of cash flows for the years then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies and other explanatory information, expressed in Korean Won.

Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with International Financial Reporting Standards as adopted by the Republic of Korea ("Korean IFRS"), and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility Our responsibility is to express an opinion on the consolidated financial statements based on our audits. We conducted our audits in accordance with Korean Standards on Auditing. Those standards require that we comply with ethical requirements, and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.

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We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company as at December 31, 2017 and 2016, and its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with Korean IFRS. Auditing standards and their application in practice vary among countries. The procedures and practices used in the Republic of Korea to audit such financial statements may differ from those generally accepted and applied in other countries.

February 27, 2018 Seoul, Korea

This report is effective as of February 27, 2018, the audit report date. Certain subsequent events or circumstances, which may occur between the audit report date and the time of reading this report, could have a material impact on the accompanying consolidated financial statements and notes thereto. Accordingly, the readers of the audit report should understand that there is a possibility that the above audit report may have to be revised to reflect the impact of such subsequent events or circumstances, if any.

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Samsung Electronics Co., Ltd. and its subsidiaries CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(In millions of Korean won, in thousands of US dollars (Note 2.30))

Notes

Assets Current assets Cash and cash equivalents Short-term financial instruments Short-term available-for-sale

financial assets Trade receivables Non-trade receivables Advance payments Prepaid expenses Inventories Other current assets Assets held-for-sale Total current assets

4, 6, 7, 31 5, 6, 7, 31 6, 9, 31 6, 7, 10, 31

6, 10

11 6 36

December 31, 2017 KRW

30,545,130 49,447,696

3,191,375 27,695,995

4,108,961 1,753,673 3,835,219 24,983,355 1,421,060

146,982,464

Non-current assets Long-term available-for-sale

financial assets Held-to-maturity financial assets Investment in associates and joint

ventures Property, plant and equipment Intangible assets Long-term prepaid expenses Net defined benefit assets Deferred income tax assets Other non-current assets

Total assets

6, 9, 31 6 12 13 14

17 28 5, 6

7,752,180

106,751

6,802,351

111,665,648 14,760,483 3,434,375 825,892 5,061,687 4,360,259

301,752,090

December 31, 2016 KRW

32,111,442 52,432,411

3,638,460 24,279,211

3,521,197 1,439,938 3,502,083 18,353,503 1,315,653

835,806 141,429,704

6,804,276 -

5,837,884 91,473,041

5,344,020 3,834,831

557,091 5,321,450 1,572,027 262,174,324

December 31, 2017 USD

27,005,370 43,717,389

2,821,539 24,486,410

3,632,789 1,550,446 3,390,770 22,088,128 1,256,378

129,949,219

6,853,809 94,380

6,014,052 98,725,136 13,049,946

3,036,378 730,182

4,475,107 3,854,967 266,783,176

December 31, 2016 USD

28,390,168 46,356,216

3,216,813 21,465,585

3,113,139 1,273,069 3,096,240 16,226,585 1,163,185

738,948 125,039,948

6,015,754 -

5,161,354 80,872,574

4,724,722 3,390,427

492,532 4,704,767 1,389,850 231,791,928

The above consolidated statements of financial position should be read in conjunction with the accompanying notes. 3

Samsung Electronics Co., Ltd. and its subsidiaries CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(In millions of Korean won, in thousands of US dollars (Note 2.30))

Liabilities and Equity Current liabilities Trade payables Short-term borrowings Other payables Advances received Withholdings Accrued expenses Income tax payable Current portion of long-term

liabilities Provisions Other current liabilities Liabilities held-for-sale Total current liabilities

Notes

December 31, 2017 KRW

6, 31 6, 8, 15, 31

6, 31

6 6

6, 15, 16, 31 18 6 36

9,083,907 15,767,619 13,899,633

1,249,174 793,582

13,996,273 7,408,348

278,619

4,294,820 403,139 -

67,175,114

Non-current liabilities Debentures Long-term borrowings Long-term other payables Net defined benefit liabilities Deferred income tax liabilities Provisions Other non-current liabilities Total liabilities

6, 16, 31 6, 15, 31

6, 31 17 28 18 6

953,361 1,814,446 2,043,729

389,922 11,710,781

464,324 2,708,985 87,260,662

December 31, 2016 KRW

6,485,039 12,746,789 11,525,910

1,358,878 685,028

12,527,300 2,837,353 1,232,817 4,597,417 351,176 356,388

54,704,095

58,542 1,244,238 3,317,054

173,656 7,293,514

358,126 2,062,066 69,211,291

December 31, 2017 USD

8,031,207 13,940,369 12,288,857

1,104,412 701,617

12,374,298 6,549,822 246,331 3,797,109 356,421 -

59,390,443

842,880 1,604,177 1,806,889

344,735 10,353,663

410,515 2,395,050 77,148,352

December 31, 2016 USD

5,733,512 11,269,612 10,190,216

1,201,403 605,643

11,075,558 2,508,543 1,089,950 4,064,640 310,478 315,088

48,364,643

51,758 1,100,048 2,932,653

153,532 6,448,296

316,624 1,823,101 61,190,655

The above consolidated statements of financial position should be read in conjunction with the accompanying notes. 4

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