SEC Form 17-A: Annual Report - the solid group inc website

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In 2011, the Group recognized the decline in value of financial assets at FVTPL of
P5.9 million. The loss is presented as part of Finance Costs in the 2011 consolidated
statement of income (see Note 21.2).
The disposals of financial assets at FVTPL resulted to a gain of P8.6 million in 2012
which is presented as part of Gain from sale of financial assets – net shown under
Finance Income in the 2012 consolidated statement of income (see Note 21.1). There
were no disposals of financial assets at FVTPL in 2011.
As of December 31, 2011, BRL’s foreign debt securities are used as collateral for
interest-bearing loans obtained by BRL (see Note 15).
9. AVAILABLE-FOR-SALE FINANCIAL ASSETS
This account comprises the following AFS financial assets:
2012 2011
Current:
Investments in foreign
currency-denominated bonds
Allowance for impairment
P
(
52,237,573 P
52,237,573) (
60,204,848
52,653,225)
- 51,994,367
Non-current:
Club shares 10,292,400 8,832,400
Equity securities 8,580,000 8,580,000
Others 634,127 1,474,118
19,506,527 18,886,518
Allowance for impairment ( 10,430,000) ( 11,004,991 )
9,076,527 7,881,527
P 9,076,527 P 59,875,894
A reconciliation of the allowance for impairment at the beginning and end of 2012 and
2011 is show below.
Note 2012 2011
Balance at beginning of year P 63,658,216 P 44,662,329
Provision (reversal) of
impairment losses 21.1, 21.2 ( 990,643 ) 18,995,887
Balance at end of year P 62,667,573 P 63,658,216