EDC PR 2016 (FS section)

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Financial Statement 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) Term Loan - ₱291.2 million 5.75% ₱16,744 ₱45,402 ₱12,558 ₱55,062 ₱129,766 Term Loan - ₱1.5 billion 5.25% 78,356 220,697 63,788 242,156 604,997 Term Loan - ₱1 billion 5.58% 56,563 167,718 5,415 353,701 583,397 Long-term loan - ₱8.5 billion 5.25% 352,537 702,844 95,944 9 1,151,334 Long-term loan - ₱5.0 billion 5.25% 240,300 517,352 100,360 139,233 997,245 Floating Rate US$80.0 million 1.80% + LIBOR 207,523 101,296 – – 308,819 US$175.0 million Refinanced Syndicated 1.75% + Term Loan LIBOR 52,671 – – – 52,671 ₱5.6 billion Commercial 2.00% + Debt Facility PDST-F rate 6,567 17,583 4,983 20,959 50,092 US$150.0 million ECA Debt 2.35% + Facility LIBOR 5,082 10,885 3,853 13,381 33,201 US$ 37.5 million Debt 2.00% + Facility LIBOR 1,162 2,629 881 3,328 8,000 Interest Rates Within 1 Year 2015 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% ₱917,670 ₱2,753,010 ₱917,670 ₱458,835 ₱5,047,185 Peso Public Bonds Series 2 - ₱3.5 billion 9.33% 327,552 – – – 327,552 IFC 1 - ₱4.1 billion 7.40% 152,785 330,795 68,378 78,368 630,326 IFC 2 - ₱3.3 billion 6.66% 165,548 393,520 97,540 232,071 888,679 FXCN ₱3.0 billion 6.62%/5.25% 167,863 465,139 142,230 201,329 976,561 ₱4.0 billion 6.61%/5.25% 198,030 548,730 16,779 237,510 1,001,049 2013 Peso Fixed-Rate Bonds ₱3.0 billion 4.16% 124,749 374,247 62,375 – 561,371 ₱4.0 billion 4.73% 189,248 567,744 189,248 473,120 1,419,360 Reconstructed PNB and Allied Bank Peso Loan 4.50% 246,520 407,986 15,969 15,969 686,444 Term Loan - ₱291.2 million 5.75% 16,744 48,300 13,846 67,620 146,510 Long-term loan - ₱8.5 billion 5.25% 406,088 896,963 160,550 100,816 1,564,417 Long-term loan - ₱5.0 billion 5.25% 250,563 619,126 138,526 239,593 1,247,808 Floating Rate US$80.0 million 1.80% + LIBOR 176,422 253,529 – – 429,951 US$175.0 million Refinanced Syndicated Term Loan 1.75% + LIBOR 91,544 34,829 – – 126,373 2.00% ₱5.6 billion Commercial Debt Facility + PDST-F rate 341,979 975,576 310,208 2,395,165 4,022,928 2.35% US$150.0 million ECA Debt Facility + LIBOR 215,732 595,518 174,257 826,893 1,812,400 2.00% US$37.5 million Debt Facility + LIBOR 48,596 134,608 39,546 193,563 416,313 271
The following tables demonstrate the sensitivity to a reasonably possible change in interest rates, with all other variables held constant, of the Company’s income before income tax and equity as of December 31, 2016 and 2015. The impact on the Company’s equity is due to changes in the fair value of AFS investments, cross currency swaps and interest rate swaps designated as cash flow hedges. 2016 Effect on Equity Increase/Decrease Effect on Income Change in Fair Value of Fair value adjustments in Basis Points Before Income Tax AFS Investments on hedging transactions +100 ₱219,329,151 (₱12,438,535) ₱541,211,391 -100 (219,329,151) 9,689,178 (541,211,391) 2015 Effect on Equity Increase/Decrease in Basis Points Effect on Income Before Income Tax Change in Fair Value of AFS Investments Fair value adjustments on hedging transactions +100 ₱227,015,099 (₱15,956,477) ₱513,389,618 -100 (227,015,099) 7,421,723 (513,389,618) The effect of changes in interest 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 the changes affecting the Company’s profit or loss. Liquidity Risk The Company’s objective is to maintain a balance between continuity of funding and sourcing flexibility through the use of available financial instruments. The Company manages its liquidity profile to meet its working and capital expenditure requirements and service debt obligations. As part of the liquidity risk management program, the Company regularly evaluates and considers the maturity of both its financial investments and financial assets (i.e. trade receivables, other financial assets) and resorts to short-term borrowings whenever its available cash or matured placements is not enough to meet its daily working capital requirements. To ensure immediate availability of short-term borrowings, the Company maintains credit lines with banks on a continuing basis. Liquidity risk arises primarily when the Company has difficulty collecting its receivables from its major customers, NPC and TransCo. Other instances that contribute to its exposure to liquidity risk are when the Company finances long-term projects with internal cash generation and when there is credit crunch especially at times when the company has temporary funding gaps. The tables below show the maturity profile of the Company’s financial assets used for liquidity purposes based on contractual undiscounted cash flows as of December 31, 2016 and 2015. On Demand Less than 3 Months 3 to 6 Months 2016 >6 to 12 Months (In Thousand Pesos) >1 to 5 Years More than 5 Years Total Loans and receivables - Cash and cash equivalents ₱1,086,991 ₱9,512,840 ₱– ₱– ₱– ₱– ₱10,599,831 Financial Asset at FVPL 1,018,529 – – – – – 1,018,529 AFS investments - Debt investments 127,540 – – – – – 127,540 ₱2,233,060 ₱9,512,840 ₱– ₱– ₱– ₱– ₱11,745,900 272 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
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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$14.0 million thereafter up to 20
Page 99 and 100: Transactions for the years ended De
Page 101 and 102: Remuneration of Key Management Pers
Page 103 and 104: Net retirement and other post-emplo
Page 105 and 106: The following tables summarize the
Page 107 and 108: The Company expects to contribute
Page 109 and 110: Beginning of Year Charged to Income
Page 111 and 112: f. g. h. i. j. k. On June 29, 2011,
Page 113 and 114: Stock awards granted by the Committ
Page 115 and 116: Foreign Currency Risk Foreign curre
Page 117 and 118: US$ Japanese yen (JP¥) Sweden kron
Page 119: 2015 Foreign Currency Appreciates (
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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