EDC PR 2016 (FS section)

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Financial Statement 2016 On Demand Less than 3 Months 3 to 6 Months >6 to 12 Months >1 to 5 Years More than 5 Years Total (In Thousand Pesos) Loans and receivables - Cash and cash equivalents ₱2,389,289 ₱15,224,633 ₱– ₱– ₱– ₱– ₱17,613,922 Financial Asset at FVPL 1,014,293 – – – – – 1,014,293 AFS investments - Debt investments 258,699 – – – – – 258,699 ₱3,662,281 ₱15,224,633 ₱– ₱– ₱– ₱– ₱18,886,914 The tables below summarize the maturity analysis of the Company’s financial liabilities as of December 31, 2016 and 2015 based on contractual undiscounted payments: 2016 On Demand Less than 3Months 3 to 6 Months >6 to 12 Months >1 to 5 Years More than 5 Years Total (In Thousand Pesos) Liabilities at amortized cost: Accounts payable* ₱– ₱7,558,608 ₱– ₱– ₱– ₱– ₱7,558,608 Accrued interest on long-term debts 89,663 586,668 220,008 – – – 896,339 Other payables** 519 230,320 – – – – 230,839 Due to related parties 36,354 – – – – – 36,354 Long-term debts – 1,255,283 6,778,633 3,737,527 49,594,920 27,766,342 89,132,705 Derivative liabilities designated as cash flow hedges – – – – – 101,747 101,747 Total ₱126,536 ₱9,630,879 ₱6,998,641 ₱3,737,527 ₱49,594,920 ₱27,868,089 ₱97,956,592 *excluding statutory liabilities to the Government **excluding non-financial liabilities. 2015 On Demand Less than 3Months 3 to 6 Months >6 to 12 Months >1 to 5 Years More than 5 Years Total (In Thousand Pesos) Liabilities at amortized cost: Accounts payable* ₱– ₱8,034,016 ₱– ₱– ₱– ₱– ₱8,034,016 Accrued interest on long-term debts 72,262 608,189 219,486 – – – 899,937 Other payables** – 17,874 – – – – 17,874 Due to related parties 101,770 – – – – – 101,770 Long-term debts – 1,225,973 3,197,986 7,640,505 37,785,797 46,700,962 96,551,223 Derivative liabilities designated as cash flow hedges – – – – – 202,469 202,469 Total ₱174,032 ₱9,886,052 ₱3,417,472 ₱7,640,505 ₱37,785,797 ₱46,903,431 ₱105,807,289 *excluding statutory liabilities to the Government **excluding non-financial liabilities. 273
Financial Assets and Financial Liabilities Set out below is a comparison of carrying amounts and fair values of the Company’s financial instruments as of December 31, 2016 and 2015 other than those with carrying amounts that are reasonable approximations of fair values. 2016 2015 Carrying Amounts Fair Values Carrying Amounts Fair Values Financial Assets Loans and receivables: Long-term receivables ₱64,286,261 ₱60,132,698 ₱32,685,410 ₱30,285,275 AFS investments: Debt investments 127,540,376 127,540,376 258,699,227 258,699,227 Equity investments 606,047,548 606,047,548 306,027,326 306,027,326 Financial assets at FVPL 1,018,529,094 1,018,529,094 1,014,293,092 1,014,293,092 Derivative assets: Derivative assets designated as cash flow hedge 587,281,375 587,281,375 351,612,199 351,612,199 ₱2,403,684,654 ₱2,399,531,091 ₱1,963,317,254 ₱1,960,917,119 Financial Liabilities Financial liabilities at amortized cost: Long-term debts ₱69,832,940,487 ₱74,633,120,742 ₱74,511,593,572 ₱84,805,828,947 Derivative liabilities: Derivative liabilities designated as cash flow hedges 101,746,629 101,746,629 202,469,437 202,469,437 ₱69,934,687,116 ₱74,734,867,371 ₱74,714,063,009 ₱85,008,298,384 Due to relatively short maturity, ranging from one to three months, carrying amounts approximate fair values for cash and cash equivalents, trade and other receivables, amounts due to related parties and trade and other payables. The methods and assumptions used by the Company in estimating the fair value of financial instruments are: Long-term Receivables The fair value of long-term receivables was computed by discounting the expected cash flow using the applicable rate of 3.40% and 3.89% in December 31, 2016 and 2015, respectively. AFS Investment Fair values of quoted debt and equity securities are based on quoted market prices. Financial instruments at fair value through profit or loss The fair values of financial instruments at fair value through profit or loss are based on quotations provided by the investment manager. Derivatives designated as cash flow hedges The fair values of derivative instruments designated as cash flow hedges are based on quotations provided by the counterparty banks. Long-term Debts The fair values for the Company’s long-term debts are estimated using the discounted cash flow methodology with the applicable rates ranging from 1.75% to 34.18% and 1.75% to 11.27% as of December 31, 2016 and 2015, respectively. 274 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
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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 and 120: 2015 Foreign Currency Appreciates (
Page 121: The following tables demonstrate th
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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