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

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The decrease was mainly in relation to lower sale of real estate. As a percentage of total revenues, this
account decreased to 1% in 2012 and 2% in 2011.
Cost of rentals – 11% increase to P35 million from P39 million
Primarily from lower rental and other overhead. This account represents 1% as a percentage of total
revenues for years 2012 and 2011.
General and administrative expenses – 7% decrease to P343 million from P366 million
Principally due to lower operating expenses of the broadband segment after it disposed of its assets. As a
percentage of total revenues, this account decreased to 7% in 2012 from 9% in 2011.
Selling and distribution costs – 30% increase to P361 million from P278 million
Mainly from higher commissions. This account remained at 7% of total revenues for 2012 and 2011,
respectively.
Gain on sale of assets – 267 million
One-time gain from the sale of broadband assets, none in 2011.
Other operating income –net - 138% increase to P553 million from P232 million
Primarily due to one-time gains on reversal of asset impairment of P437 million from the sale of
broadband assets. This account increased to 11% in 2012 from 6% in 2011 as a percentage of total
revenues.
Finance income – 154% increase to P163 million from P64 million
Principally contributed by reversals of impairment loss on trade and other receivables of the broadband
segment. This account increased at 3% of total revenues for 2012 from 1.8% in 2011.
Finance costs – P49 million from P89 million
Primarily due to lower impairment losses on trade and other receivables and foreign currency losses.
Other gains - net –P57 million to P21 million
Primarily due to gain on derecognition of liabilities. This account increased to 1.17% in 2012 from
0.59% in 2011 as a percentage of total revenues.