EDC PR 2016 (FS section)
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Financial Statement<br />
The table below demonstrates the income, expense, gains or losses of the Company’s financial<br />
instruments for the years ended December 31, <strong>2016</strong>, 2015 and 2014:<br />
<strong>2016</strong> 2015 2014<br />
Effect on Profit<br />
or Loss<br />
Increase<br />
(Decrease)<br />
Effect<br />
on Equity<br />
Increase<br />
(Decrease)<br />
Effect on Profit<br />
or Loss<br />
Increase<br />
(Decrease)<br />
Effect<br />
on Equity<br />
Increase<br />
(Decrease)<br />
Effect on Profit<br />
or Loss<br />
Increase<br />
(Decrease)<br />
Effect<br />
on Equity<br />
Increase<br />
(Decrease)<br />
Loans and receivables<br />
Interest income on:<br />
Cash in banks (Note 7) (₱939,699) ₱– ₱4,152,417 ₱– ₱538,777 ₱–<br />
Cash equivalents (Note 7) 251,901,599 – 283,995,301 – 158,432,173 –<br />
Advances and other<br />
receivables 31,841,932 – 6,469,739 – 25,622,077 –<br />
Provision for doubtful<br />
accounts - trade receivables (70,225,399) – – – – –<br />
₱212,578,433 ₱– ₱294,617,457 ₱– ₱184,593,027 ₱–<br />
A<strong>FS</strong> investments<br />
Equity investments:<br />
Net loss recognized<br />
in equity ₱– ₱20,222 ₱– (₱31,129,534) ₱– ₱116,656,029<br />
Debt investments:<br />
Net gain (loss) recognized<br />
in equity – (1,555,610) – (8,060,008) – (3,074,675)<br />
Interest income on<br />
government debt<br />
securities 4,071 – 99,432 – 98,628 –<br />
₱4,071 (₱1,535,388) ₱99,432 (₱39,189,542) ₱98,628 ₱113,581,354<br />
Financial assets at FVPL<br />
Financial assets at FVPL ₱4,236,002 ₱– ₱9,300,349 ₱– (₱23,593,442) ₱–<br />
Net fair value changes of<br />
forward contracts – – – – 7,517,980 –<br />
₱4,236,002 ₱– ₱9,300,349 ₱– (₱16,075,462) ₱–<br />
Derivatives designated as cash<br />
flow hedges<br />
Fair value adjustments on<br />
hedging transactions (₱109,535,316) ₱178,486,703 ₱– ₱681,416 ₱– (₱122,566,454)<br />
Financial liabilities at<br />
amortized cost<br />
Interest expense on (Note 24):<br />
Long-term debts, including<br />
amortization of transaction<br />
costs (₱4,445,411,175) ₱– (₱4,515,492,350) ₱– (₱3,713,109,302) ₱–<br />
Derivative Financial Instruments<br />
The Company engages in derivative transactions, particularly foreign currency swaps, cross<br />
currency swaps, interest rate swaps and call spread swaps to manage its foreign currency risk<br />
and/or interest rate risk arising from its foreign-currency denominated loans. These derivatives are<br />
accounted for either as derivatives designated as accounting hedges or derivatives not designated<br />
as accounting hedges.<br />
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