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Years Ended December 31Notes 2010 2009 2008(In Thousand Pesos)CASH FLOWS FROM FINANCING ACTIVITIESProceeds from borrowings: 14Long-term P14,181,967 P18,629,170 P11,500,000Short-term 1,000,000 2,000,000 6,603,375Repayments of borrowings: 14Long-term (8,986,275) (9,820,330) (4,814,990)Short-term (3,000,829) (4,001,330) (3,100,540)Payments of dividends to stockholders: 17Common (10,587,865) (15,087,144) (16,542,271)Preferred (50,492) (60,637) (49,449)Collection of subscriptions receivable and exercise ofstock options 5,485 5,785 39,241Interest paid (2,734,000) (3,009,233) (2,407,243)Net cash flows used in financing activities (10,172,009) (11,343,719) (8,771,877)NET INCREASE (DECREASE) IN CASH ANDCASH EQUIVALENTS 47,555 203,391 (438,511)NET FOREIGN EXCHANGE DIFFERENCE (118,496) (45,688) 29,731CASH AND CASH EQUIVALENTS ATBEGINNING OF THE YEAR 5,939,927 5,782,224 6,191,004CASH AND CASH EQUIVALENTS ATEND OF YEAR 28, 30 P5,868,986 P5,939,927 P5,782,224See accompanying Notes to Consolidated Financial Statements.99