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

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Non-current trade and other receivables – amounted to P670 million as of December 31, 2011,
increasing by 4% from P640 million as of December 31, 2010.
Mainly from higher cash surrender value of investment in life insurance. This account stood at
6% as a percentage of total assets for years 2011 and 2010.
Non-current available-for-sale financial assets – 35% decrease in 2011 to P7.8 million from
12.11 million
Mainly from lower market value of shares. This account stood at 0.067% and 0.11%as a
percentage of total assets for 2011 and 2010.
Property, plant and equipment – P1,386 million from P1,396 million
There was no material variance for the account. This represented 12%% and 13% as a percentage
of total assets in 2011 and 2010.
Investment property – P3,864 million from P3,646 million
Mainly from fair value gains for the year. This account stood at 33% and 34% as a percentage of
total assets in 2011 and 2010, respectively.
Retirement benefit assets -6% increase to P79 million from P75 million
Increase was mainly from contributions made during the year. This represented .67% and 1% of
total assets in 2011 and 2010, respectively.
Deferred tax assets –net - 113% increase to P70 million from P32 million
Mainly due to higher valuation allowance on inventories. This account stood at 0.60% and 0.30%
of total assets in 2011 and 2010 respectively.
Other non-current assets – 10% decrease in 2011 to P22 million from P24 million.
Mainly due to lower prepaid insurance. This represented 0.19% and 0.23% as percentage to total
assets in 2010 and 2009 respectively.
Interest-bearing loans – 21% decrease in 2011 to P779 million from P989 million
Mainly due to payments made to banks as they matured in 2011 offset with loan availments from
related parties. This account stood at 7% and 9% as a percentage of total liabilities and equity in
2011 and 2010, respectively.
Trade and other payable –43% increase to P592 million from P413 million
Increase was due to higher trade and accrued expenses, refundable deposits. This account stood at
5% and 4% as a percentage of total liabilities and equity in 2011 and 2010, respectively.
Customers’ Deposit – increase to P686 million from P29 million