EDC PR 2016 (FS section)

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Financial Statement The following tables demonstrate the sensitivity to a reasonably possible change in the foreign currency exchange rates applicable to the Company, with all other variables held constant, of the Company’s income (loss) before income tax and equity for the years ended December 31, 2016 and 2015. The impact on the Company’s income before income tax is due to revaluation of monetary assets and monetary liabilities while impact on equity arises from changes in the fair value of cross currency swaps designated as cash flow hedges as well as AFS debt investments. 2016 Foreign Currency Appreciates (Depreciates) By Effect on Income Before Income Tax Effect on Equity USD 10% or ₱4.972 (₱2,863,221,971) ₱218,366,448 (10% or ₱4.972) 2,863,221,971 (569,222,113) JPY 10% or ₱0.04243 (13,928,023) – (10% or ₱0.03911) 13,928,023 – HKD 10% or ₱0.64212 (10,817) – (10% or ₱0.64212) 10,817 – GBP 10% or ₱6.08715 (1,127,310) – (10% or ₱6.08715) 1,127,310 – SGD 10% or ₱3.43538 (254,562) – (10% or ₱3.43538) 254,562 – NZD 10% or ₱3.44606 (1,864,632) – (10% or ₱3.44606) 1,864,632 – Euro 10% or ₱5.18404 274,744 – (10% or ₱5.18404) (274,744) – CHP 10% or ₱0.00743 1,060,523 – (10% or ₱0.00743) (1,060,523) – PEN 10% or ₱1.48153 16,765 – (10% or ₱1.48153) (16,765) – 2015 Foreign Currency Appreciates (Depreciates) By Effect on Income Before Income Tax Effect on Equity USD 10% or ₱4.706 (₱3,108,303,023) ₱281,291,138 (10% or ₱4.706) 3,108,303,023 (318,165,456) JPY 10% or ₱0.03911 (5,608,470) – (10% or ₱0.03911) 5,608,470 – SEK 10% or ₱0.56370 (730,570) – (10% or ₱0.56370) 730,570 – HKD 10% or ₱0.60857 (3,628) – (10% or ₱0.60857) 3,628 – GBP 10% or ₱7.01783 (2,120,750) – (10% or ₱7.01783) 2,120,750 – SGD 10% or ₱3.35176 (248,365) – (10% or ₱3.35176) 248,365 – NZD 10% or ₱3.22944 (3,339,105) – (10% or ₱3.22944) 3,339,105 – (Forward) 269
2015 Foreign Currency Appreciates (Depreciates) By Effect on Income Before Income Tax Effect on Equity Euro 10% or ₱5.17411 (₱4,160) ₱– (10% or ₱5.17411) 4,160 – AUD 10% or ₱3.42652 (59,273) – (10% or ₱3.42652) 59,273 – CHP 10% or ₱0.00664 22,676,426 – (10% or ₱0.00664) (22,676,426) – PEN 10% or ₱1.37824 3,168 – (10% or ₱1.37824) (3,168) – The effect of changes in foreign exchange rates in equity pertains to the fair valuation of AFS investments and derivatives designated as cash flow hedges, and is exclusive of the impact of changes affecting the Company’s profit or loss. Interest Rate Risk The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s long-term debt obligations with floating interest rates, derivative assets, derivative liabilities and AFS investments. The interest rates of some of the Company’s long-term borrowings and AFS debt investments are fixed at the inception of the loan agreement. The Company regularly evaluates its interest rate risk by taking into account the cost of qualified borrowings being charged by its creditors. Prepayment, refinancing or hedging the risks are undertaken when deemed feasible and advantageous to the Company. Interest Rate Risk Table The following tables provide for the effective interest rates and interest payments by period of maturity of the Company’s long-term debts: Interest Rates Within 1 Year 2016 More than 1 year but less than 4 years More than 4 Years but less than 5 Years More than 5 Years Total (In Thousand Pesos) Fixed Rate US$ 300.0 million Notes 6.50% ₱969,540 ₱2,908,620 ₱484,770 ₱– ₱4,362,930 IFC 1 - ₱4.1 billion 7.40% 130,964 267,576 47,133 31,321 476,994 IFC 2 - ₱3.3 billion 6.66% 154,902 377,033 106,438 337,105 975,478 FXCN ₱3.0 billion 5.25% 142,853 394,538 120,172 57,960 715,523 ₱4.0 billion 5.25% 190,470 526,050 160,230 77,280 954,030 2013Peso Fixed-Rate Bonds ₱3.0 billion 4.16% 124,749 311,873 – – 436,622 ₱4.0 billion 4.73% 189,248 567,744 189,248 283,872 1,230,112 Reconstructed PNB and Allied Bank Peso Loan 4.50% 192,044 231,911 – – 423,955 (Forward) 270 I Energy Development Corporation Performance Report 2016
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2016 Audited Consolidated Financial
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Compliance • We have monitored th
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156 I Energy Development Corporatio
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We have fulfilled the responsibilit
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Those charged with governance are r
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ENERGY DEVELOPMENT CORPORATION (A S
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Preferred Stock (Note 19) Common St
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Years Ended December 31 2016 2015 2
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Southern Negros, Valencia, Negros O
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EDC Drillco EDC Drillco is a compan
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Geotermica Chile SPA also incorpora
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Authorization for Issuance of the C
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These amendments are applied prospe
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Applicability of IFRIC 12, Service
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In August 2013, EDC Geotermica SpA
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Fair Value Measurement of Financial
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In 2011, EDC recognized full impair
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The factors that the Company consid
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Recognition of Deferred Income Tax
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Current versus Non-current Classifi
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In 2015, the functional currency of
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Construction in progress represents
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would have been determined, net of
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Classified under loans and receivab
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Derivative financial instruments ar
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the allowance account. Any subseque
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maturity or expected disposal date
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has expired, as well as the Parent
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Proceeds from Insurance Claims Proc
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Future Changes in Accounting Polici
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The Company is currently assessing
Page 67 and 68: oader review of the research projec
Page 69 and 70: LGBU NIGBU BGBU MAGBU Pantabangan/
Page 71 and 72: 7. Trade and Other Receivables 2016
Page 73 and 74: The movements of the net accumulate
Page 75 and 76: 12. Property, Plant and Equipment L
Page 77 and 78: Total borrowing costs capitalized t
Page 79 and 80: Bac-Man 3 Engineering Procurement a
Page 81 and 82: 13. Goodwill and Intangible Assets
Page 83 and 84: Carrying amount of exploration and
Page 85 and 86: 2015 Long term receivables Input VA
Page 87 and 88: The long-term debts are presented n
Page 89 and 90: The Parent Company capitalized in i
Page 91 and 92: ₱8.5 billion GCGI Term Loan On Ma
Page 93 and 94: 19. Equity Capital Stock As require
Page 95 and 96: On March 6, 2015, the BOD approved
Page 97 and 98: US$14.0 million thereafter up to 20
Page 99 and 100: Transactions for the years ended De
Page 101 and 102: Remuneration of Key Management Pers
Page 103 and 104: Net retirement and other post-emplo
Page 105 and 106: The following tables summarize the
Page 107 and 108: The Company expects to contribute
Page 109 and 110: Beginning of Year Charged to Income
Page 111 and 112: f. g. h. i. j. k. On June 29, 2011,
Page 113 and 114: Stock awards granted by the Committ
Page 115 and 116: Foreign Currency Risk Foreign curre
Page 117: US$ Japanese yen (JP¥) Sweden kron
Page 121 and 122: The following tables demonstrate th
Page 123 and 124: Financial Assets and Financial Liab
Page 125 and 126: The Company classifies its financia
Page 127 and 128: The table below shows the derivativ
Page 129 and 130: Pertinent details of the IRS are as
Page 131 and 132: The Company monitors capital using
Page 133 and 134: Legal Claims The Company is conting
Page 135 and 136: EDC also holds geothermal resource
Page 137 and 138: As of December 31, 2016, the Compan
Page 139 and 140: As of December 31, 2016, the Compan
Page 141 and 142: Ancillary Services Procurement Agre
Page 143 and 144: 41. ULGEI Power Supply Agreements A
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EDC PR 2016 (FS section)

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