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

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Other current assets amounted to P252 million as of December 31, 2012 compared with P267
million as of December 31, 2011, or a decrease of 6% was mainly due to lower input VAT and
creditable withholding taxes.
Total current assets reached P6,984 million as of December 31, 2012 from P5,616 million as of
December 31, 2011 as discussed above.
Non-current trade and other receivable amounted to P630 million as of December 31, 2012 from
P669 million as of December 31, 2011. The decrease was principally due to lower translated
value of the foreign-currency receivables arising from the appreciation of the Philippine peso
against the US dollar.
Non-current available-for-sale financial assets stood at P9 million as of December 31,
2012 against P 7.8 million as of December 31, 2011, an increase of 15% principally from
fair value gains of club shares.
Property, plant and equipment amounted to P1,048 million as of December 31, 2012 from
P1,386 million as of December 31, 2011, a decrease of 24% mainly due to sale of assets of the
broadband segment.
Investment property amounted to P4,017 million as of December 31, 2012 and P3,864 million as
of December 31, 2011. The increase was due to fair value gains recognized this year.
Retirement benefit assets amounted to P73 million as of December 31, 2012 and P79 million as
of December 31, 2011. The decrease was principally due to claims and refund by the broadband
segment.
Deferred tax assets - net amounted to P63 million as of December 31, 2012 and P69 million as of
December 31, 2011, a decrease of 10% principally due to lower allowances for inventory
obsolescence and provision for warranty.
Other non-current assets amounted to P22 million as of December 31, 2012 and 2011. There was
no material variance for this account.
Total non-current assets amounted to P 5,863 million as of December 31, 2012 from P6,100
million as of December 31, 2011 as discussed above.
Total assets reached P12,848 million as of December 31, 2012 from P11,716 million as of
December 31, 2011 as discussed above.
Interest-bearing loans amounted to P571 million as of December 31, 2012 from P779 million as
of December 31, 2011, a decrease of 27% principally due to payment of loans during the year.
Trade and other payables amounted to P628 million as of December 31, 2012 against P592
million as of December 31, 2011, higher by 6% primarily due to higher trade payables incurred
for the Golden Hill Project.
Customers’ deposits amounted to P881 million as of December 31, 2012 versus P686 million as
of December 31, 2011, an increase of 28% due to additional collection of deposits from real
estate and prefabricated modular houses buyers.