EDC PR 2016 (FS section)

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Financial Statement The following tables show the fair value information of financial instruments classified under loans and receivables, financial asset at FVPL, AFS investments, and derivatives designated as cash flow hedges and analyzed by sources of inputs on fair valuation as follows: Quoted prices in active markets for identical assets or liabilities (Level 1); Those involving inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices) (Level 2); and Those with inputs for the asset or liability that are not based on observable market data (unobservable inputs) (Level 3) 2016 Total Level 1 Level 2 Level 3 Financial Assets Loans and receivables: Long-term receivables ₱60,132,698 ₱– ₱– ₱60,132,698 Financial asset at FVPL 1,018,529,094 – 1,018,529,094 – AFS investments: Debt investments 127,540,376 127,540,376 – – Equity investments 606,047,548 303,031,779 303,015,769 – Derivative assets designated as cash flow hedges 587,281,375 – 587,281,375 – Financial Liabilities Financial liabilities at amortized cost: Long-term debts 74,633,120,742 – – 74,633,120,742 Derivative liabilities designated as cash flow hedges 101,746,629 – – 101,746,629 2015 Total Level 1 Level 2 Level 3 Financial Assets Loans and receivables: Long-term receivables ₱30,285,275 ₱– ₱– ₱30,285,275 Financial asset at FVPL 1,014,293,092 – 1,014,293,092 – AFS investments: Debt investments 258,699,227 258,699,227 – – Equity investments 306,027,326 306,027,326 – – Derivative assets designated as cash flow hedges 351,612,199 – 351,612,199 – Financial Liabilities Financial liabilities at amortized cost: Long-term debts 84,805,828,947 – – 84,805,828,947 Derivative liabilities: Derivative liabilities designated as cash flow hedges 202,469,437 – – 202,469,437 For the years ended December 31, 2016 and 2015, there were no transfers between Level 1 and Level 2 fair value measurements and no transfers into and out of Level 3 fair value measurements. 275
The Company classifies its financial instruments in the following categories. 2016 Derivatives Loans and AFS Liabilities at Amortized Financial Assets Designated as Cash Flow Receivables Investments Cost at FVPL Hedges Total (In Thousand Pesos) Financial Assets Cash and cash equivalents ₱10,599,831 ₱– ₱– ₱– ₱– ₱10,599,831 Trade receivables 7,595,684 – – – – 7,595,684 Non-trade receivables 79,395 – – – – 79,395 Loans and notes receivables 76,612 – – – – 76,612 Advances to employees 36,921 – – – – 36,921 Due from a related party 59,394 – – – – 59,394 Short-term investments 292,023 – – – – 292,023 Long-term receivables 64,286 – – – – 64,286 Debt service reserve account 1,027,456 – – – – 1,027,456 AFS - debt investments – 127,540 – – – 127,540 AFS - equity investments – 606,048 – – – 606,048 Financial asset at FVPL – – – 1,018,529 – 1,018,529 Derivative assets – – – – 587,281 587,281 Total financial assets ₱19,831,602 ₱733,588 ₱– ₱1,018,529 ₱587,281 ₱22,171,000 Financial Liabilities Accounts payable* ₱– ₱– ₱7,558,608 ₱– ₱– ₱7,558,608 Accrued interest on long-term debts – – 896,340 – – 896,340 Other payables** – – 230,838 – – 230,838 Due to related parties – – 36,354 – – 36,354 Long-term debts – – 69,832,940 – – 69,832,940 Derivative liabilities – – – – 101,747 101,747 Total financial assets ₱– ₱– ₱78,555,080 ₱– ₱101,747 ₱78,656,827 *excluding statutory liabilities to the Government **excluding non-financial liabilities. Liabilities at Amortized Cost 2016 Derivatives Designated as Cash Flow Hedges Loans and Receivables AFS Investments Financial Assets at FVPL Total (In Thousand Pesos) Financial Assets Cash and cash equivalents ₱17,613,922 ₱– ₱– ₱– ₱– ₱17,613,922 Trade receivables 5,089,519 – – – – 5,089,519 Non-trade receivables 126,860 – – – – 126,860 Loans and notes receivables 89,808 – – – – 89,808 Employee receivables 9,906 – – – – 9,906 Long-term receivables 32,685 – – – – 32,685 Debt service reserve account 1,324,249 – – – – 1,324,249 AFS - debt investments – 258,699 – – – 258,699 AFS - equity investments – 306,027 – – – 306,027 Financial asset at FVPL – – – 1,014,293 – 1,014,293 Derivative assets – – – – 351,612 351,612 Total financial assets ₱24,286,949 ₱564,726 – ₱1,014,293 ₱351,612 ₱26,217,580 Financial Liabilities Accounts payable* ₱– ₱– ₱8,034,016 ₱– ₱– ₱8,034,016 Accrued interest on long-term debts – – 899,937 – – 899,937 Other payables** – – 17,874 – – 17,874 Due to related parties – – 101,770 – – 101,770 Long-term debts – – 74,511,594 – – 74,511,594 Derivative liabilities – – – – 202,469 202,469 Total financial assets ₱– ₱– ₱83,565,191 ₱– ₱202,469 ₱83,767,660 *excluding statutory liabilities to the Government **excluding non-financial liabilities. 276 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/
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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 and 122: The following tables demonstrate th
Page 123: Financial Assets and Financial Liab
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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