PT.

GARUDA INDONESIA Tbk

BALANCE SHEET
31 DECEMBER 2014,2015, AND 2016
(Figures are Presented in USD,unless Otherwise Stated)

ASSETS 2016 2015

CURRENT ASSETS :
Cash and cash equivalents 578,702,739 519,972,655
Trade accounts receivable
‐ Related parties 3,716,431 2,318,588
‐ Third parties 187,579,134 119,209,053
Other receivables 21,172,730 17,581,553
Inventories 108,954,457 91,631,231
Advances and prepaid expenses 220,275,067 177,104,409
Prepaid taxes 44,732,744 80,030,516
TOTAL CURRENT ASSETS 1,165,133,302 1,007,848,005

NON CURRENT ASSETS :

Maintenance reserve fund and security deposits 1,241,870,703 1,012,753,651
Advances for purchase of aircraf 169,738,910 204,469,384
Investment in associates 427,479 399,772
Deferres tax assets 108,493,964 104,990,625
Property and equipment 926,666,977 867,089,209
Investment properties 57,772,474 55,390,166
Intangible assets ‐ net 4,992,892 4,648,523
Deferred charges ‐ net 1,307,310 2,193,585
Other assets 61,165,379 50,228,066
TOTAL NON CURRENT ASSETS 2,572,436,088 2,302,162,981

TOTAL ASSET 3,737,569,390 3,310,010,986

LIABILITIES & EQUITY

LIABILITIES
CURRENT LIABILITIES :
Loan from banks and financial institutions 698,011,118 361,254,270
Trade accounts payable
‐ Related parties 91,412,955 44,963,436
‐ Third parties 129,019,003 104,392,331
Other payable 35,583,709 49,901,950
Taxes payable 39,458,951 80,997,046
Accrued expenses 197,983,396 181,042,507
Unearned revenue 229,846,173 179,531,019
Advances received 30,932,877 24,549,496
Current maturities of long term liabilities 61,696,994 103,936,071
Long‐term loans 22,311,219 15,125,233
Lease liabilities estimated liability aircraf return 27,319,726 53,155,762
TOTAL CURRENT LIABILITIES 1,563,576,121 1,198,849,121

NON CURRENT LIABILITIES :

Long‐term loans 132,418,213 133,022,468
Lease liabilities 138,588,227 106,055,960
Estimated liability for aircraf return 86,550,585 69,448,854
Bonds payable 641,041,165 635,947,442
Deferred tax liabilities 2,055,561 1,661,989
Employment benefits obligation 116,009,808 177,519,224
Other non current liabilities 47,432,491 39,782,743
TOTAL NON CURRENT LIABILITIES 1,164,096,050 1,163,438,680
TOTAL LIABILITIES 2,727,672,171 2,362,287,801

EQUITY
Capital stock ‐ Rp459 par value per share for series
A Dwiwarna share and series B shares
Authorized‐1 of series A Dwiwarna share and
29,999,999,999 series B shares
Issued and paid‐up capital ‐ 1 series A Dwiwarna
shares and series B share of 25,868,926,632
at December 31,2014 2015 and 2016 1,309,433,569 1,309,433,569
Additional paid‐in capital ‐33,948,489 ‐33,948,489
Stock option 2,770,970 2,770,970
Retained earnings
‐ Appropriated 6,081,861 6,081,861
‐ Unappropriated ‐221,069,233 ‐220,046,387
Other comprehensive income ‐70,462,233 ‐130,770,768
Equity Attributable to Owners of the Company 992,805,948 933,520,756
NON‐CONTROLLING INTERESTS 17,091,271 17,202,429
TOTAL EQUITY 1,009,897,219 950,723,185

TOTAL LIABILITIES &EQUITY 3,737,569,390 3,310,010,986

ted)

2014

434,327,498

2,747,485
117,876,342
8,349,932
85,204,399
134,765,800
27,243,487
810,514,943

786,933,317
388,883,491
545,647
107,412,835
922,994,362
26,818,510
6,047,329
5,411,785
45,253,759
2,290,301,035

3,100,815,978

75,312,110

111,563,071
104,026,360
24,196,608
18,458,721
224,597,949
210,488,910
29,581,017
368,945,183
12,933,174
39,262,253
1,219,365,356

446,699,347
105,965,183
73,526,187
159,758,003
2,997,485
140,352,566
35,439,331
964,738,102
2,184,103,458

1,309,433,569
‐33,948,489
2,770,970

6,081,861
‐259,912,147
‐120,487,161
903,938,603
12,773,161
916,712,520

3,100,815,978