EDC PR 2016 (FS section)

Remuneration of Key Management Personnel
The remuneration of the directors and other members of key management personnel by benefit
type are as follows:
2016 2015 2014
Short-term employee benefits ₱133,277,109 ₱137,106,790 ₱163,521,032
Post-employment benefits
(Note 27) 14,134,724 14,829,503 14,459,571
Share-based payments (Note 30) – (5,316,377) 7,800,204
₱147,411,833 ₱146,619,916 ₱185,780,807
Intercompany Guarantees
The Parent Company issued letters of credit amounting to US$80.00 million in favor of its
subsidiary, EDC Chile Limitada, as evidence of the Parent Company’s financial support for
EDC Chile Limitada’s participation in the bids for geothermal concession areas by the Chilean
Government.
The Parent Company also issued letters of credit in favor of its subsidiaries in Peru, namely,
EDC Peru S.A.C. and EDC Energia Verde Peru SAC at US$0.27 million each as evidence of
the Parent Company’s financial support for the geothermal authorizations related to the
exploration drilling activities of the said entities. Except for the letters of credit issued by the
Parent Company in favor of EDC Chile Limitada, EDC Peru S.A.C. and EDC Energia Verde
Peru SAC as mentioned above, there were no guarantees that have been given to or/and
received from any other related party in 2016 and 2015.
21. Costs of Sale of Electricity
2016 2015 2014
Depreciation and amortization
(Notes 12 and 13) ₱5,387,475,300 ₱4,799,889,856 ₱3,664,022,741
Purchased services and utilities
(Note 20) 2,422,748,112 3,561,687,959 2,339,128,843
Personnel costs (Notes 23 and 27) 2,076,871,226 2,062,074,137 2,040,257,709
Repairs and maintenance 1,471,952,288 1,496,416,501 747,222,579
Rental, insurance and taxes 1,465,980,796 1,161,533,249 1,066,267,700
Parts and supplies issued
(Note 10) 576,124,848 929,862,753 1,067,442,483
Government share
(Notes 16 and 33) 252,980,501 260,203,942 269,077,902
Business and related expenses 103,100,403 167,844,144 173,060,809
Proceeds from insurance claims – – (52,148,525)
₱13,757,233,474 ₱14,439,512,541 ₱11,314,332,241
Purchased services and utilities includes professional and technical services, hauling and handling
costs, rig mobilization charges, contractual personnel costs and other services and utilities
expense.
Business and related expenses covers the expenses incurred by the Company for local and foreign
travel, company meeting expenses and advertising and among other business expenses.
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I Energy Development Corporation Performance Report 2016