EDC PR 2016 (FS section)

Net retirement and other post-employment benefit costs in 2016 includes separation benefit
payments amounting to ₱672.6 million as a result of the organizational restructuring.
Personnel costs amounting to nil, ₱20.4 million and ₱58.0 million were capitalized under property,
plant and equipment in 2016, 2015 and 2014, respectively (see Note 12).
24. Interest Income and Interest Expense
Interest income consists of the following:
2016 2015 2014
Interest income on cash and cash
equivalents and debt service
reserve account
(Notes 6 and 11) ₱250,961,900 ₱288,160,033 ₱158,970,950
Others 31,846,003 6,569,171 25,720,705
₱282,807,903 ₱294,729,204 ₱184,691,655
Others include interest income on AFS securities and financial asset at fair value through profit or
loss.
Interest expense consists of the following:
2016 2015 2014
Interest on long-term debts
including amortization of
transaction costs
(Notes 17 and 31) ₱4,445,411,175 ₱4,515,492,350 ₱3,713,109,302
Interest accretion on provision for
rehabilitation and restoration
costs (Notes 3, 12 and 18) 50,067,931 35,444,230 33,090,312
Interest on liability from litigation
(Notes 3 and 18) 7,811,108 7,811,108 7,811,108
₱4,503,290,214 ₱4,558,747,688 ₱3,754,010,722
Interest on liability from litigation is related to land expropriation cases (see Note 3).
25. Foreign Exchange Gains (Losses)
2016 2015 2014
Realized foreign exchange gains
(losses) - net ₱154,291,021 (₱842,094) (₱5,348,348)
Unrealized foreign exchange
losses - net (807,777,497) (1,364,681,733) (97,182,774)
Net foreign exchange losses ₱653,486,476) (₱1,365,523,827) (₱102,531,122)
This account pertains mainly to foreign exchange adjustments realized on repayment of loans and
unrealized on restatement of outstanding balances of foreign currency-denominated loans, trade
receivables and payables, short-term placements and cash in banks. The detailed information with
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I Energy Development Corporation Performance Report 2016