MANILA BULLETIN PUBLISHING CORPORATION ‘STATEMENTS OF FINANCIAL POSITION DECEMBER 31, 2018 AND 2017 (Amounts in Phillppine Pesos) ASSETS Current Assots Cash (Notes 2, 3, 4 and 5) Trade and other receivables ~ net (Notes 2, 3, 4, 6 and 29) Inventories (Notes 2, 3, and 7) Other current assets (Notes 2, 3, 8 and 20) Total Current Assets. Noncurrent Assets Property, plant and equipment ~ net (Notes 2, 3 and 9) Investment property (Notes 2, 3 and 10) Deferred tax asset ~ net (Notes 2, 3 and 25) Prepaid benefit obligation (Notes 2, 3 and 23) Goodwill (Notes 2, 3 and 11) Other noncurrent assets (Notes 2, 3, 4 and 12) ‘Total Noncurrent Assets TOTAL ASSETS 2018 Dir 41,868,913 P56,785,770 1,699,204,725 1,825,459,713, 1,303,589,617 1,236,004,881 140,728,403 104,107,805 3,185,391,658 3,322,958, 169 2,483,297,759 2,544,036,832 94,808,970 94,808,970 71,931,411 67,088,725 41,233,530 19,570,740 5,000,000, 5,000,000 114,342,625 89,689,978 2,810,614,295 _ 2,820,165,245, P5,966,005,953_P6,142,523,414 OO LIABILITIES AND EQUITY Current Liabilities Trade and other payables (Notes 2, 4, 13 and 29) Trust receipts payable (Notes 2, 4 and 14) Short-term loans payable (Notes 2, 4 and 15) Income tax payable (Notes 2 and 25) Total Current Liabilties Noncurrent Liabilities Long-term loans payable (Notes 2, ¢ and 15) Total Liabilties Equity ‘Share capital (Notes 2, 4 and 16) Retained earnings (Notes 2, 4 and 16) ‘Accumulated remeasurement losses on retirement benefit plan (Notes 2, 23 and 27) Treasury shares (Notes 2 and 16) "Total Equity TRFAD OTS TOTAL LIABILITIES AND EQUITY a RECEIVE ELMER. TANAY P1,002,302,644 P1,161,102.218 114,615,719 | 82,813,354 270,000,000 336,000,000 2,351,630 2,635,616 7,386,269,993 7,581,551, 188 4,000,000,000 _1,000,000,000 2,386,269,993 _2,581,551,188 3,475,463,722 3,475,463,722 209,111,785 192,804,782 (88,491,870) (91,038,301) (16,347,977) (16,347,977) 160 3,560,972,226 TF $s2_po.1. 520414MANILA BULLETIN PUBLISHING CORPORATION STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 (With Comparative Figures for 2016) (Amounts in Philippine Pesos) 208 2017 206 NET SALES (Notes 2 and 18) P1,971,795,468 2,142,006.441 P2,548,549,162 COST OF SALES AND SERVICES (Notes 2 and 19) (1.451,833,307)_(1,374,350,108) _(1,734,997,325) GROSS PROFIT 519,962,157 767,656,336 813.811.837 OTHER OPERATING INCOME (Notes 2, 20 and 28) 59,996,976 118,197,275 116,143,006 OPERATING EXPENSES (Notes 2,21 and 29) (493,881,363) (773,669,558) (851,508,400) ‘OPERATING INCOME 077,770 112,124,053 98,248,434 OTHER EXPENSE net (Notes 2 and 22) (63,581,757) (48,052,226) __ (42,703,827) INCOME BEFORE INCOME TAX 22,496,013 64,071,827 85,542,607 PROVISION FOR INCOME TAX (Notos 2 and 25) (6.279.010) (14,204,920) _(13.013.498) NET INCOME 16,217,003 49,866,007 42,829,109 OTHER COMPREHENSIVE INCOME (LOSS) tem that wil not be reclassified subsequeriy fo profi or lose Actuarial gain (oss) — net of tax (Notes 2 and 23) 2,546,731__(16,198.497)__(2.506,346) TOTAL COMPREHENSIVE INCOME 18,763,734 P33,668.410_P40,022.763, TOTAL COMPREHENSIVE INCOME _P 18,763,734 _P33,668410_P40.022.763_ BASICIDILUTED EARNINGS PER SHARE (Notes 2 and 26) ‘Computed basod on Net income 0.00 Poor Poot Computed based on Total Comprehensive income 0.04 0.01 0.01 ‘See eccompanying Notes to Franca Statements. TUCREAU OF INTERNAL REVENUE LARGE TAXPAYER SERVICE, LARGE TARPAVERS ASSISTANCE DIVISION pate| APR 80 2019 | RECEIVED ELMER B, TAMANILA BULLETIN PUBLISHING CORPORATION ‘STATEMENTS OF CHANGES IN EQUITY FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 (With Comparative Figures for 2016) (Amounts in Philippine Pesos) 2018 2017 2016 SHARE CAPITAL (Notes 2, 4 and 16) Balance at beginning of year 3,475,463,722 P3,475.463,722 P3,374,508,215 Stock dividend 7 = 100,956,507 Balance at end of year GATEAGST22 SATS ABS. T22 _3.A75,463,722 TREASURY SHARES (Notes 2 and 16) (16,387,977) (16,347,977) __ (16,347,977) OTHER COMPONENT OF EQUITY (Notes 2, 23 and 27) Balance at beginning of year (91,038,301) (74,839,804) (72,993,458) ‘Actuarial gain (loss) ~ net of tax eect (Note 27) 2546,731 __(16.198.497) ___(2,506.346) Balance al end of year (88,491,570) (91,038,301) (74,839,804) RETAINED EARNINGS (Notes 2,4 and 16) Balance at beginning of year 192,884,782 149,027,875 201,454,273 ‘Stock dividend (Note 18) = = (100,985,607) Net income 46,217,003 49,868,907 _ 42,529,109, Balance at end of year 0.111,785 192,894,782 143.027 875. P3,579,735.960_P9.560,972,226 _P3,577,303,816 ‘See accompanying Notes Francia Satoront= ~ BUREAU OF INTERNAT, REVENUE ARGE TAXPAYER SERVICE SETAXVAYERS ASI s Date} APR 8.0 2919 RECEIVEDMANILA BULLETIN PUBLISHING CORPORATION ‘STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 (With Comparative Figures for 2016) (Amounts in Philippine Pesos) 2018 207 2016 CASH FLOWS FROM OPERATING ACTIVITIES Income before income tax 27,496,013 PBA071,627 55,542,607 ‘Adjustments for: Provision for impairment losses (Notes 6 and 21) 95,178,729 13.084.968 18,269,320 Depreciation of property, plant and ‘equipment (Note 9) 66,736,824 70,170,137 76,744,692 Interest expense (Note 14 and 15) 63,710,399 © 48,730,443 42,973,798, Retirement expense (Note 23) 7,393,451 7,618,472 9,996,527 Unrealized foreign exchange loss (Note 22) “417,603 128,212 400,358 Gain on disposal of property. plant and ‘equipment (Note 20) = (12,700,000) (111,999) Interest income (Note 22) (9,499) (88,074) (70,328) ‘Accounts receivable writen-off (Note 6) (92,490,718) = 7 ‘Operating income before working capital changes 163,396,871 190,997,985 702,144,574 Decrease (increase) in: ‘Trade and other receivables (Note 6) 123566974 278,941,863 61,978,713. Inventories (Note 7) 32,416,264 50,845,985 (38,281,047) Other curent assets (Note 8) (5,791,721) (52,184,796) (17,653,428) Decrease in trade and other payables (Note 12) (159,917,084) (470,112,601) (401,751,429) ‘Net cash generated from (used in) operating ‘activities 153,670,904 (1,811,504) (193,862,215) Interest recelved (Note 22) 39,433 86,074 70,329 Contributions paid (Note 23) (25,418,054) (27,322,139) (19,698,687) Interest paid (Notes 14 and 15) (63,421,766) (48,730,443) (42,973,798) Income tax pad (Note 25) (12,527,138) (17,405,208) __(22,960.916) Nel cash provided by (used in) operating activites 52,342,779 (04,883,310) (278,520,287) CASH FLOWS FROM INVESTING ACTIVITIES. Decrease (increase) in other noncurrent ‘assets (Note 12) (24,682,647) (22,212,252) 2,188,496 Proceeds from disposal of property, plant and ‘equipment (Note 9) 99,080,718 111,999 [Additions to property. plant and equipment (Note 9) (5997.751) (24,757,447) _(39.814,061) Nel cash provided in (used i) investing actives (20,650,398) 43,111,019 (37,543,566) CASH FLOWS FROM FINANCING ACTIVITIES Net proceeds from (payment of) trust receipts payable (Note 14) 20,002,265 (38,686,257) (66,244,861) Proceeds from avallment of loans payable (Note 15) $59,000,000 518,000,000 593,500,000 Payment of loans payable (Note 15 (624,000,000) Nel cash provided by (used in) financing activites Forward (38.197 835) I REC EIVED KLMER 8. TANAY (455,000,000) _ (186,500,000) LE 80, 455.199 TARGE TAXPAYER SERVIC LARGE TAXPAYERS ASSISTANCE DIVISION nate | APR 80 2019EFFECT OF EXCHANGE RATES CHANGE ON CASH (411,603) 128,212) (400.358) NET INCREASE (DECREASE) IN CASH (14,916,887) (27,586,760) 24,290,928 CASH AT BEGINNING OF YEAR 56,785,770 84,372,530 ___ 60,081,602 CASH AT END OF YEAR 41,868,913 P96,785,70__P84,372.530 E Ls CASH AT END OF YEAR CONSISTS 01 Cash on hand 6,345,900 © P5.084,785 12,914,616 Cash in banks 35,523,613 51,700,985 72,057,014 47,868,913 _P56.785.770___P84,372.530 ‘See accompanying Note to Financial Stator ents BUREAU CER rate RSET ee ERS ASSISANCY Dison