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

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- 55 - These expenses are classified in the consolidated statements of income as follows: Notes 2012 2011 2010 Continuing operations: Cost of sales 18.1 P 3,092,129,708 P 2,524,843,718 P 1,225,420,110 Cost of services 18.2 488,402,762 499,294,869 460,191,618 Cost of real estate sales 45,917,227 95,886,118 151,396,685 Cost of rentals 18.3 35,382,941 39,880,748 38,569,193 General and administrative expenses 343,002,874 366,950,584 281,046,941 Selling and distribution costs 361,066,027 278,372,598 227,552,333 4,365,901,539 3,805,228,635 2,384,176,880 Discontinued operations: Cost of sales 18.1 - 14,307,547 31,736,150 General and administrative expenses 5 - 385,540 9,271,158 Selling and distribution costs 5 - 671,435 413,308 - 15,364,522 41,420,616 P 4,365,901,539 P 3,820,593,157 P 2,425,597,496 21. OTHER INCOME (CHARGES) 21.1 Finance Income This account consists of the following: Notes 2012 2011 2010 Reversal of impairment losses on trade and other receivables 7 P 75,708,696 P 17,014,146 P 11,104,219 Interest income from banks 6 56,862,020 28,088,868 23,389,186 Interest income from financing 26,458,136 11,990,898 5,041,854 Gain on sale of financial assets - net 8 2,095,315 - - Reversal of impairment losses on AFS financial assets 9 990,643 - - Foreign currency gains – net 827,155 5,624,590 1,372,689 Others 760,514 1,842,653 905,319 P 163,702,479 P 64,561,155 P 41,813,267 The allocation of finance income between continuing and discontinued operations is shown below. Note 2012 2011 2010 Continuing operations P 163,702,479 P 64,476,707 P 38,921,553 Discontinued operations 5 - 84,448 2,891,714 P 163,702,479 P 64,561,155 P 41,813,267
- 56 - Interest income earned by SGI, SMFI, BRL, Starworld, and Interstar from cash and cash equivalents amounting to P64.4 million in 2012, P47.8 million in 2011 and P63.1 million in 2010 are presented as Interest under Revenues account in the consolidated statements of income, as these were generated from the entities’ primary business operations. 21.2 Finance Costs This account consists of the following: Notes 2012 2011 2010 Foreign currency losses P 22,738,154 P 33,124,222 P 28,649,430 Impairment losses on trade and other receivables 7 12,767,663 21,145,641 9,266,502 Interest expense arising from interest–bearing loans 15 6,726,796 8,203,376 10,530,521 Interest amortization on refundable deposits 17 1,431,460 614,109 864,519 Impairment losses on AFS financial assets 9 - 18,995,887 33,657,338 Fair value loss on FVTPL 8 - 5,909,803 - Others 5,424,022 797,455 4,601,512 P 49,088,095 P 90,062,513 P 88,876,474 The allocation of finance costs between continuing and discontinued operations is shown below. Note 2012 2011 2010 Continuing operations P 49,088,095 P 89,426,503 P 88,223,148 Discontinued operations 5 - 636,010 653,326 P 49,088,095 P 90,062,513 P 88,876,474 22. EMPLOYEE BENEFITS 22.1 Salaries and Employee Benefits Expense Expenses recognized for salaries and employee benefits are summarized below (see Notes 20 and 26.10). Note 2012 2011 2010 Short-term benefits P 250,773,629 P 249,752,464 P 225,608,349 Post-employment benefit 22.2 7,188,899 3,634,033 4,594,191 Termination benefits 1,468,310 764,785 1,124,507 P 259,430,838 P 254,151,282 P 231,327,047
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SOLID GROUP INC. April 30, 2013 THE
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12. Check whether the issuer: (a) h
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1 PART I. BUSINESS AND GENERAL INFO
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3 Solid Laguna Corporation (SLC) wa
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5 Status of any-publicly announced
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7 • Distributoship Agreement with
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9 Major Risks involved in the Busin
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11 reform. On August 13, 1997, Soli
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13 The above lease contracts are re
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15 The number of shareholders of re
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17 Item 6. Management’s Discussio
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19 2010 Revenue improved by 17% in
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21 broadband segment posted P267 mi
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23 Advances from related parties am
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25 Other operating income amounted
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27 Total assets reached P11,716 mil
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29 Cost of rentals amounted to P38
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31 Property, plant and equipment am
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33 thumb of 2 : 1 by achieving a cu
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35 vii. Causes for any Material Cha
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37 Principally due to additional co
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39 The decrease was mainly in relat
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41 Non-current trade and other rece
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43 Principally due to other compreh
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45 Increase was due to higher trade
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47 Cost of real estate sold - 37% d
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49 Mainly from higher commissions,
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51 The overall scope of the audit w
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53 Mr. Joseph Lim is the Founding C
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55 executive officers Susan L. Tan
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57 Common Lim, Elena S. 1,894 (dire
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59 2. The Company has no transactio
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62 SOLID GROUP, INC. INDEX TO FINAN
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64 INDEX TO EXHIBITS Form 17-A No.
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66 EXHIBIT 18 SUBSIDIARIES OF THE R
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- 2 - Notes 2012 2011 LIABILITIES A
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SOLID GROUP INC. AND SUBSIDIARIES C
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SOLID GROUP INC. AND SUBSIDIARIES C
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SOLID GROUP INC. AND SUBSIDIARIES N
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- 3 - (b) Mergers of Certain Subsid
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Page 146 and 147: - 37 - The net cash flows attributa
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Page 150 and 151: - 41 - A reconciliation of the carr
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Page 154 and 155: A reconciliation of the carrying am
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Page 162 and 163: - 53 - 19. OTHER INCOME 19.1 Other
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Page 170 and 171: - 61 - The reconciliation of tax on
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Page 180 and 181: - 71 - 26.10 Key Management Personn
Page 182 and 183: - 73 - (d) Gain on Sale of Assets S
Page 184 and 185: - 75 - 28.9 Others As of December 3
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Page 188 and 189: - 79 - 30. CATEGORIES AND FAIR VALU
Page 191 and 192: Supplementary Schedules SOLID GROUP
Page 193 and 194: Solid Group Inc. and Subsidiaries S
Page 195 and 196: Solid Group Inc. and Subsidiaries S
Page 197 and 198: SOLID GROUP INC. Schedule I Reconci
Page 199 and 200: SOLID GROUP INC. AND SUBSIDIARIES S
Page 201 and 202: PAS 33 Earnings per Share a PAS 34
Page 203: Solid Group Inc. and Subsidiaries S
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SEC Form 17-A: Annual Report - the solid group inc website

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