2004 - Asianbanks.net

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EQUITABLE PCI BANK, INC. AND SUBSIDIARIESSTATEMENTS OF CHANGES IN CAPITAL FUNDS(Amounts In Thousands)Years Ended December 312003 2002<strong>2004</strong> (As restated - Note 2)COMMON STOCK - P=10 par value (Note 16) P=7,270,033 P=7,270,033 P=7,270,033CAPITAL PAID IN EXCESS OF PAR VALUE 37,395,672 37,395,672 37,395,672SURPLUS RESERVE (Note 22)Balance at beginning of year 451,977 398,641 365,735Transfer from surplus 58,379 53,336 32,906Balance at end of year 510,356 451,977 398,641SURPLUS (Note 16)Balance at beginning of year, as previously reported 2,720,837 1,609,263 999,646Effect of change in accounting for:Leases (Note 2) (206,558) (177,409) (158,866)Income taxes (Note 2) (1,907,898) (2,073,690) (2,240,415)Balance at beginning of year, as restated 606,381 (641,836) (1,399,635)Net income (Note 26) 1,810,446 1,301,553 790,705Transfer from revaluation increment 11,053 – –Deferred tax liability on revaluation increment 5,201 – –Transfer to surplus reserves (Note 22) (58,379) (53,336) (32,906)Balance at end of year 2,374,702 606,381 (641,836)PARENT COMPANY SHARES HELD BY ASUBSIDIARY (Note 16) (7,466,950) (7,467,336) (7,467,336)NET UNREALIZED LOSS ON AVAILABLE-FOR-SALE SECURITIES (Note 3)Balance at beginning of year (980) (6,957) (44,785)Net unrealized (loss) gain during the year (4,999) 5,977 37,828Balance at end of year (5,979) (980) (6,957)EQUITY IN NET UNREALIZED LOSS ONAVAILABLE-FOR-SALE SECURITIESOF A SUBSIDIARY (Notes 3 and 6)Beginning at beginning of year (63,374) (71,416) (90,712)Net unrealized gain during the year 14,793 8,042 19,296Balance at end of year (48,581) (63,374) (71,416)EQUITY IN REVALUATION INCREMENT ONLAND OF A SUBSIDIARY (Note 6)Balance at beginning of year, as previously reported 19,779 18,719 4,116Effect of change in accounting for income taxes (6,329) (5,990) (1,317)Balance at beginning of year, as restated 13,450 12,729 2,799Additional revaluation increment 4,464 721 9,930Balance at end of year 17,914 13,450 12,729(Forward)36
- 2 -Years Ended December 312003 2002<strong>2004</strong> (As restated - Note 2)REVALUATION INCREMENT ON PROPERTY(Note 5)Balance at beginning of year, as previously reported P=1,942,858 P=1,942,858 P=1,921,472Effect of change in accounting for income taxes (Note 2) (621,715) (621,715) (614,871)Balance at beginning of year, as restated 1,321,143 1,321,143 1,306,601Additional revaluation increment on land 965 – 188,957Transfer to surplus (11,053) – –Reversal of revaluation increment on building – – (174,415)Balance at end of year 1,311,055 1,321,143 1,321,143P=41,358,222 P=39,526,966 P=38,210,673See accompanying Notes to Financial Statements.37
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Page 28 and 29: The total number of shares owned by
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Page 32 and 33: STATEMENT OF MANAGEMENT’S RESPONS
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