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Income Statement

Currency in Millions of Philippines Pesos
As of:
Dec 31 2012
Dec 31 2013

Dec 31 2011

(Restated Php)
(Restated Php)
(Restated Php)
Revenues
47,802.6
51,739.9
55,970.6
TOTAL REVENUES
47,802.6
51,739.9
55,970.6
Cost of Goods Sold
31,523.7
34,819.6
34,964.2
GROSS PROFIT
16,278.9
16,920.2
21,006.4
Selling General & Admin Expenses, Total
2,530.8
3,130.8
3,968.8
Depreciation & Amortization, Total
198.7
327.1
1,556.1
Other Operating Expenses
2,455.8
2,283.4
2,337.3
OTHER OPERATING EXPENSES, TOTAL
5,185.3
5,741.3
7,862.1
OPERATING INCOME
11,093.6
11,178.9
13,144.3
Interest Expense
-1,221.5
-1,165.5
-919.3
Interest and Investment Income
1,102.3
855.1
663.1
NET INTEREST EXPENSE
-119.3
-310.4
-256.2
Income (Loss) on Equity Investments
2,185.6
2,317.6
1,802.3
Currency Exchange Gains (Loss)
-46.6
332.4
-356.1
Other Non-Operating Income (Expenses)
374.1
621.5
1,124.7
EBT, EXCLUDING UNUSUAL ITEMS
13,487.4
14,140.0
15,458.9
Impairment of Goodwill
--31.0
Gain (Loss) on Sale of Investments
8.1
-1.1
9,159.3
Gain (Loss) on Sale of Assets
57.6
127.5
144.9
Other Unusual Items, Total
35.2
-299.6
-432.7
Insurance Settlements
35.2
41.5
10.6
Other Unusual Items
---EBT, INCLUDING UNUSUAL ITEMS
13,588.2
13,966.8
24,361.4
Income Tax Expense
1,343.6
1,474.6
2,104.7
Minority Interest in Earnings
-2,681.7
-2,756.4
-3,319.4
Earnings from Continuing Operations
12,244.7
12,492.3
22,256.8
EARNINGS FROM DISCOUNTINUED OPERATIONS ----

028.0 24.9 NET PROPERTY PLANT AND EQUIPMENT 31.908.750.417.9 8.8 Balance Sheet Currency in Millions of Philippines Pesos As of: Dec 31 2012 Dec 31 2013 Dec31 2011 9.876.8 Prepaid Expenses 408.2 57.3 11.0 1.563.6 Other Intangibles 49.2 9.5 2.012.8 15.3 17.725.6 1.806.611.0 Trading Asset Securities 71. Long Term 5. Long Term 197.3 73.531.049.242.728.099.4 TOTAL ASSETS 123.438.NET INCOME 9.643.4 NET INCOME TO COMMON INCLUDING EXTRA ITEMS 18.6 Accounts Receivable 11.735.186.107.6 49.035.9 TOTAL CURRENT ASSETS 71.181.350.225.629.7 43.4 .7 -4.7 5.8 (Restated Php) (Restated Php) (Restated Php) ASSETS Cash and Equivalents 9.0 84.619.171.937.4 Long-Term Investments 14.1 LIABILITIES & EQUITY Accounts Payable 7.550.371.7 23.2 -- 1.724.075.5 Other Current Assets 4.641.8 -- 8.795.2 Other Receivables 1.2 23.9 33.128.2 -2.3 15.6 -19.326.937.884.260.717.6 Other Long-Term Assets 3.0 9.9 71.4 9.795.8 TOTAL RECEIVABLES 17.9 46.0 23.8 18.3 352.241.2 11.185.984.7 5.563.033.8 Gross Property Plant and Equipment 47.0 9.369.3 11.3 Accumulated Depreciation -21.706.2 Accounts Receivable.2 Accrued Expenses 921.774.6 25.8 13.7 20.349.1 2.9 -25.5 Short-Term Investments 88.563.4 15.8 Deferred Tax Assets.735.937.1 4.484.515.735.9 Inventory 21.4 NET INCOME TO COMMON EXCLUDING EXTRA ITEMS 18.0 9.477.2 TOTAL CASH AND SHORT TERM INVESTMENTS 26.3 96.261.8 59.

765.6 2.3 Current Portion of Capital Lease Obligations --Current Income Taxes Payable 89.655.5 TOTAL CURRENT LIABILITIES 28.0 3.2 2.1 8.4 Depreciation & Amortization 3.4 .8 Statement of Cash Flows Currency in Millions of Philippines Pesos As of: Dec 31 2012 Dec 31 2013 1.8 Deferred Tax Liability Non-Current 862.273.279.0 Common Stock 2.9 4.610.655.1 Dec31 2011 (Restated Php) (Restated Php) (Restated Php) NET INCOME 9.8 TOTAL EQUITY 60. Total 5.186.765.8 18.5 4.3 22.6 18.1 27. Current 6.910.6 Capital Leases --Minority Interest 7.7 -0.8 4.9 DEPRECIATION & AMORTIZATION.1 Amortization of Goodwill and Intangible Assets 9.8 1.6 7.8 -3.7 48. TOTAL 3.0 0.8 9.3 4.0 TOTAL PREFERRED EQUITY -0.9 -8.093.149.6 0.4 17.9 Comprehensive Income and Other 330.9 -6.633.3 Retained Earnings 33.3 27.563.068.192.765.688.6 TOTAL LIABILITIES 48.292.153.3 Current Portion of Long-Term Debt/Capital Lease 3.984.3 96.756.5 Additional Paid in Capital 4.386.5 8.361.629.451.813.Short-Term Borrowings 694.2 Other Current Liabilities.750.030.190.792.547.775.655.9 6.937.4 43.0 2.5 2.4 41.203.3 75.541.3 -138.258.7 Preferred Stock Convertible 0.083.865.3 93.3 251.228.339.6 2.0 41.486.0 3.1 TOTAL LIABILITIES AND EQUITY 123.9 1.735.4 66.1 TOTAL COMMON EQUITY 51.093.560.496.572.4 Other Non-Current Liabilities 1.0 34.305.329.2 43.1 84.743.344.3 Pension & Other Post-Retirement Benefits 86.5 Unearned Revenue.2 471.642.180.3 Long-Term Debt 31.0 63.

5 -3.6 -- .938.8 Common Dividends Paid -5.1 -52.0 1.8 -2.710.8 TOTAL DEBT ISSUED 30.7 21.796.1 2.4 -6.198.9 (Gain) Loss on Sale of Investment 1.9 -713.021.8 -1.3 443.025.5 -144.3 76.1 -9.230.9 Change in Unearned Revenues 1.813.186.2 -25. Plant.7 -2.9 Long Term Debt Repaid -18.6 -1.7 Net Cash from Discontinued Operations --Change in Accounts Receivable -5.9 3.910.1 CASH FROM INVESTING -672.944.965.2 Divestitures --Sale (Purchase) of Real Estate Properties -139.113.423.802.4 -535.0 Change in Other Working Capital -1.827.516.555.053.922.8 (Gain) Loss from Sale of Asset -127.526.996.053.349.9 Investments in Marketable & Equity Securities 164.3 Sale of Property.6 -1.186.189.0 -3.9 7.158.186.742.6 -2.6 -57.2 -1.4 (Income) Loss on Equity Investments -2.6 -7.4 12.7 4.0 1.1 -8.2 -2.8 Other Operating Activities 2.923.861.9 Capital Expenditure -6.0 29.7 Special Dividend Paid 30.323.179.9 TOTAL DEBT REPAID -19.0 2.7 -635.460.7 13.455.627.176.3 Provision & Write-off of Bad Debts 78.989.224.2 15.627.9 Asset Writedown & Restructuring Costs 388.9 Amortization of Deferred Charges 38.1 ---32.1 9.3 -5.077.759.1 5.2 -9.2 Change in Accounts Payable -218.6 Cash Acquisitions -2.4.6 -7.0 Long-Term Debt Issued 10.576.622.317.8 Short-Term Debt Issued 1.643.539. and Equipment 136.0 Change in Inventories -3.3 350.7 10.7 CASH FROM OPERATIONS 17.799.1 -10.5 -10.0 1.083.114.185.0 381.6 -1.627.196.7 TOTAL DIVIDEND PAID -5.0 -3.1 -3.0 -1.8 Short Term Debt Repaid -484.6 -1.

842.620.8 Foreign Exchange Rate Adjustments -103.1 CASH FROM FINANCING -1.822.050.1 -3.103.794.443.332.8 .0 4.3 -1.--5.5 2.6 -1.057.1 Other Financing Activities -2.8 5.441.2 -5.8 NET CHANGE IN CASH 15.2 -2.