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

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reviewed to assess the possible losses from non-collection and allowance is provided for possible
losses on accounts which are considered doubtful of collection.
Advances to related parties amounted to P128 million as of December 31, 2011 from P201
million as of December 31, 2010 principally due to collections received.
Financial assets at fair value through profit or loss amounted to P70 million as of December 31,
2011 versus none in 2010 principally from purchases made during the year.
Available-for-sale financial assets amounted to P51 million as of December 31, 2011 from P138
million as of December 31, 2010 mainly due to disposals made for the period.
Merchandise inventories and supplies - net amounted to P564 million as of December 31, 2011,
increasing by 44% compared with P392 million as of December 31, 2010 mainly from higher
merchandise and finished goods for digital products.
Real estate inventories amounted to P1,675 million as of December 31, 2011 from P1,328
million as of December 31, 2010 or higher by 26%. The increase was mainly due to additions
made during the period offset by real estate sold.
Other current assets amounted to P267 million as of December 31, 2011 and P242 million as of
December 31, 2010 or a increase of 10% principally from higher prepaid expenses, creditable
withholding taxes and advances to suppliers and contractors.
Total current assets reached P5,616 million as of December 31, 2011 from P4,813 million as of
December 31, 2010 as discussed above.
Non-current trade and other receivable amounted to P669 million as of December 31, 2011 from
P640 million as of December 31, 2010 mainly from higher cash surrender value of investment in
life insurance.
Non-current available-for-sale financial assets stood at P7 million as of December 31, 2011
against P12.1 million as of December 31, 2010 from decline in market value of shares.
Property, plant and equipment amounted to P1,386 million as of December 31, 2011 from
P1,396 million as of December 31, 2010. There was no material variance for this account.
Investment property amounted to P3,864 million as of December 31, 2011 and P3,646 million as
of December 31, 2010 mainly due to fair value gains on investment property.
Retirement benefit assets amounted to P79 million as of December 31, 2011 from P74 million as
of December 31, 2010, increasing by 6% from contributions during the year.
Deferred tax assets - net amounted to P69 million as of December 31, 2011, higher by 113%
from P32 million December 31, 2010 mainly on higher valuation allowance on inventories.
Other non-current assets amounted to P22 million as of December 31, 2011 or a decrease of
10% from P24 million as of December 31, 2010 from lower prepaid insurance.
Total non-current assets amounted to P6,100 million as of December 31, 2011 from P5,828
million as of December 31, 2010 as discussed above.